Press release
Smart Elevator Automation System Market to be Driven by Emphasis on Green Infrastructure and Rising number of High-rise Buildings
A “smart elevator automation system” refers to the use of advanced technology to enhance energy efficiency and proper traffic management of vertical moment of elevators in high-rise buildings.Smart elevator system is termed as ‘smart’ because, apart from ordinary use of vertical transportation, this system is also used as a security system with the latest digital security controls, such as biometrics and access control systems, destination dispatching and touch screen.
Energy efficiency and automated features of these smart elevators make them more advanced than traditional lifts.
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The global smart elevator automation system market is anticipated to expand at a double-digit CAGR during the forecast period. Growth of the global smart elevator automation system market is mainly driven by increasing demand for energy efficient and high speed elevators, rising investment on infrastructure development projects, growing population and increasing urbanization in big cities of the world.
The major players in the smart elevator automation system market are working towards introducing advanced destination dispatch solutions and cloud based connectivity utilizing Internet of Things (IoT).
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The global smart elevator automation system market includes seven major regions – North America, Western Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East & Africa. Of all the regions, Asia Pacific Excluding Japan (APEJ) dominated the market, accounting for 32.3% share of the overall smart elevator automation system market, in 2014.
Some of the key players identified in the global smart elevator automation system market are Kone Corporation, Otis Elevator Company, Schindler Group, ThyssenKrupp Elevator AG, Mitsubishi Electric Corporation, Fujitec Co., Ltd., Tyco International Limited, Hitachi Ltd. and Honeywell International Inc.
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