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A Summary of the Smart Elevator Automation System Market Development:
[250 Pages Report] Global demand for smart elevator automation systems is expected to expand at a yearly growth rate of 9.2% Y-o-Y to US$ 37.68 Billion in 2026, supported by:
Data Points | Key Statistics |
---|---|
Estimated Value of Global Smart elevator automation system Market by 2026 | US$ 37.68 Billion |
Documented Market Value of the Smart elevator automation system Market in 2016 | US$ 15.5 Billion |
Estimated CAGR from 2016 to 2026 | 9.2% |
Estimated CAGR of APEJ by 2026 | 16% |
During the period ranging from 2020 to 2022, smart elevator automation system demand prospects witnessed stellar growth, backed by stringent safety norms and a growing emphasis on sustainable construction of residential and commercial buildings. The advent of mega projects like Burj-al-Arab & upgraded security features along with cable-free lifts will make smart elevators- a hot commodity in the market.
In recent years, smart elevators witnessed drastic transformations with prominent manufacturers introducing innovative designs and new features like Touchless technologies. One example of touchless technology is the Otis eCall™ app. The app enables passengers to use their cell phone as their elevator call button and call an eCall-equipped elevator when approaching it. This helps minimize the use of public access elevator buttons.
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In terms of growth, the Asia Pacific region is anticipated to garner significant growth opportunities, backed by the latest advancements in IoT and AI sector. By 2026-end, the region is forecasted to exhibit a Y-o-Y growth rate of ~16%. The spurting development of industrial infrastructure and the introduction of sustainable building projects will uplift the popularity of smart elevator automation systems.
Recently, the Indian government launched schemes such as ‘Housing for All' and ‘Smart Cities Mission, which will pilot the development of the building and housing industries, likely to boost sales. Indian government FDI approvals for the construction of townships, housing, built-up infrastructure, and other development projects are further strengthening the high-rise and luxury apartment projects in the country.
Similarly, China is expected to offer lucrative expansion opportunities, thanks to the flourishing construction sector and ongoing projects in the country. Benefitting from this, several manufacturers are launching new product ranges and expanding their customer base. For instance, In Jan 2022, Hitachi Elevator won the bidding of four city landmark projects, namely Ningbo Center Building, Hangzhou West Station Hub North Complex, Guangzhou Knowledge Tower, and Shenzhen Byte Dance Houhai Center, with a total of 277 escalators, including 23 double-car elevators. These projects will establish a strong base for the market expansion of smart elevators in China.
Besides easier passenger transportation, enhanced security features are another crucial accelerating the installation of smart elevators in every corner of the world. Given the growing focus on the security of properties and data, smart elevators are doing a terrific job.
Just like smartphones and TVs, elevators are evolving into a high-tech system, prompting elevator manufacturers to make adjustments in speed and safety. The smart elevator technology uses software and microprocessor-based controls instead of electromechanical relays, allowing elevators to automatically enter sleep mode, and shut off lights, air conditioning, and video screen when it is empty.
Smart elevators provide higher passenger convenience, and ease of operation and are more energy efficient compared to conventional elevators. These advancements are likely to offer robust growth prospects for smart elevator automation systems in the coming years
Government agencies are largely involved in constructing green buildings, creating opportunities for major players in the worldwide market looking to capitalize on the opportunity rendered by green elevators. An increasing number of nations globally are declaring their plans for creating green cities.
A growing shift towards green buildings will increase the need for fuel-efficient and smart solutions like smart and connected elevators. Major vendors in the smart elevator automation system market will substantially benefit from the prospect of green elevators. increasing usage of wireless technologies is expected to push the demand for smart elevator automation systems during the forecast period.
One of the important technology trends that will increase the worldwide smart elevator automation system market is the rising usage of wireless technologies. Additionally, the increasing application of artificial intelligence technology will further supplement the growth of the smart elevator automation system market in the future.
Many of the major players functioning in the worldwide smart elevator automation system market are Schindler Holding, Fujitec, Mitsubishi Electric Corporation, Honeywell International, Bosch Security System, Otis Elevator Corporation, and ThyssenKrupp AG.
In order to make sure the secure function of the elevator, the wireless sensor network, and the elevator control system are created independently of each other. A wireless sensor network mostly comprises a sensor terminal node, upper monitoring terminal, and wireless coordinator node. Thus, the usage of wireless technologies in smart elevator automation systems is expected to drive market demand during the forthcoming period.
Regionally North America will continue to dominate the global smart elevator automation system market, accounting for a share of around 32.3% in 2022. On the other hand, South Asia and the Pacific region are estimated to register strong growth in the market, exhibiting a CAGR of around 14.8% during the predicted period.
The global demand for smart elevator automation systems is expected to increase at 9.2% CAGR between 2022 and 2032 in comparison to the 6.7% CAGR registered from 2017 to 2021.
The rising adoption of smart elevators across various sectors including public buildings like hotels, residential homes, malls, offices, theaters, hospitals, airports, etc., for improving productivity, minimizing energy consumption, and improving passenger safety is a key factor driving growth in the global smart elevator automation system market.
An intelligent elevator experience makes building a more attractive prospect for visitors and tenants alike. Smart elevators offer future-proof buildings with industry-leading smart elevator systems improved with built-in connectivity.
Smart elevator automation systems make use of automation technology and lower waiting time through effective traffic management in residential, commercial, and various other buildings. Technologies integrated into these units comprise destination access, biometrics, and dispatching control systems, digital security control systems, and touchscreen control among others.
Market factors, like the adoption of dizzying heights, cable-free lifts, adoption of digital security systems, and growing security concerns, are creating market growth opportunities for smart elevator automation systems. Increasing customer preference towards the acceptance of smart and technically advanced buildings is also driving market growth.
The incorporation of artificial intelligence (AI) and IoT into building solutions and elevators will additionally create robust opportunities for the smart elevator automation market.
Building management systems in the component segment of the smart elevator automation system market are expected to grow at the highest CAGR of around 11.5% during the forecast period. Third-party equipment used in buildings, like elevators, is integrated into the building management system permitting it to deliver as a single point for all control and monitoring of the campus or buildings.
“Usage of IoT Solutions for Smart Elevator Management to Drive Smart Elevator Automation System, Market”
Elevators have developed over time to keep on with the need, utilizing carbon fiber cables and more long-lasting machinery to keep them moving. At present, smart elevator design has gone a step further with the Internet of Things technologies.
IoT is changing elevators and making them technologically more advanced. Smart elevators with IoT-enabled technology are tracking traffic flows, collecting data, and even acting as strong advertising equipment, nowadays.
Many vendors are now offering elevator IoT solutions to help maintenance companies and elevator manufacturers to manage their machine's performance effectively.
There are various benefits to Internet of Things elevator solutions, including facilitating time-consuming and cost-saving upgrades, offering an emergency response, enhancing safety, lowering waiting periods for users, identifying problems from a remote location, and providing power-efficient systems.
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“Increasing Installation of Smart Elevators in Residential and Commercial Sectors to Boost Market Growth in Germany”
As per FMI, the smart elevator automation system market in Germany is estimated to create an absolute $ opportunity of US$ 1,271.5 million by the end of 2032, making it one of the most lucrative markets across Europe. The rising usage of smart elevators in residential and commercial buildings is expected to drive the market in Germany.
Smart elevators are incorporated with destination dispatch technology and this technology effectively controls the traffic in a building. Thus, the growing demand for smart elevators in residential and commercial buildings will continue to push the growth of smart elevator automation systems across Germany during the forecast period.
Rapid Growth of Building and Construction Industry Pushing Smart Elevator Automation System Demand
With the increasing adoption of advanced technologies, the surge in the number of high-rise buildings, and the growing trend of green buildings, the USA will continue to remain the most lucrative market for smart elevator automation systems during the forecast period.
FMI predicts the USA to account for around 71.2% of the North American smart elevator automation system market in 2032. The rapid development of the construction industry and increasing infrastructure development across the USA is expected to drive the growth of the smart elevator automation system market in the country during the assessment period.
Similarly, the increasing adoption of smart elevators in the commercial sector is anticipated to increase market development over the predicted period.
“Rise in Smart City Projects to Propel Sales of Smart Elevator Automation Systems in India”
The sales revenue in India is anticipated to grow at an impressive rate of around 16.5% CAGR between the years 2022 to 2032. The Indian government schemes like Smart Cities Mission and Housing for All are expected to drive the growth of the housing industries and thereby will possibly increase smart elevator automation system market growth in India.
Indian government FDI acceptance for the construction of townships, built-up infrastructure, and other development projects are further enhancing the luxury apartments projects in India. Thus, growing smart city projects is the major factor driving market growth in India.
In addition to this, the rising penetration of both domestic and international smart elevator manufacturers along with various strategies adopted by these players is playing a crucial role in expanding the size of the smart elevator automation system market in India.
For instance, in May 2022, Kone Elevators India, a fully owned subsidiary of KONE Corporation displayed the world’s first Digitally Connected Elevators- the KONE DX Class at EXCON 2022.
“Growing Security Concerns Fueling Demand for Security and Control Systems”
The security and control system segment is expected to hold the largest share of around 21.3% in the global smart elevator automation system market in 2022.
Elevator control systems include destination systems that are selected for the purpose of lowering traffic flow in elevators. The security and control systems segment is witnessing robust growth due to increasing security concerns with regard to properties and data.
Elevator access control systems help monitor and manage traffic and save energy and time. Thus, the growing security concerns will continue to drive the segment growth during the forecast period.
However, the building management system segment is likely to grow at the highest pace of 11.5% CAGR between 2022 and 2032, creating an incremental $ opportunity of around US$ 10,319.8 Million by the end of 2032.
“Rising Spending on Installing Smart Elevators in Newly Constructed Buildings Pushing Demand for Installation services”
The installation service segment held the largest share of 40.1% in 2022 and is anticipated to grow by 1.9X during the forecast period. Due to the increase in the construction of high-rise buildings, there will be a huge increase in the installation service of smart elevators. The installation service is becoming progressively popular in new commercial spaces.
Thus, the installation of smart elevators in a commercial buildings is expected to drive the market demand during the forecast period.
“Adoption Rate of Smart Elevator Automation Systems to Remain High in Commercial Sector”
As per FMI, the commercial sector is estimated to grow by 2.3X during the forecast period. This can be attributed to the rising adoption of smart elevator automation systems in commercial buildings.
Commercial buildings have high traffic as compared to residential buildings, resulting in more elevator trips. In order to improve productivity and reduce energy costs, smart elevator automation systems are being increasingly installed across commercial buildings such as malls, restaurants, hotels, etc.
The deployment of smart elevator technologies provides trip management and permits users to travel with reduced waiting times. As a result, these technologies are gaining immense traction in the commercial sector.
However, demand for smart elevator automation systems in the industrial sector will grow at the highest CAGR of 11.8% between 2022 and 2032.
Key players in the smart elevator automation system market are focusing on strategic partnerships, collaborations, and mergers with other important vendors to develop technologically advanced smart elevator automation systems to serve their customers.
For instance,
Otis and Hitachi: Embracing AI, IoT, and Big Data to Drive the Revolution in Smart Elevator Manufacturing
The penetration of advanced technology in elevators is growing at a brisk pace. Smart elevators are now being installed in major buildings, shopping centers, and institutions around the globe. Leading elevator manufacturers have either created new business units or have partnered with technology players to make a foray into this exciting space.
Otis, a leading name in the elevator domain, is ensuring it takes the lead as far as smart elevators are concerned. For instance, it has launched Otis ONE, a connected solution that aims to help prevent elevator downtime. The solution incorporates IoT sensors, big data, and AI, and is available for existing Otis elevators.
The salient feature of this technology is real-time visibility of an elevator's health, as well as data insights for predictive maintenance and options for remote troubleshooting. This has contributed to a drop in downtime and a reduction in service requests and technician visits.
Otis is also partnering with leading technology vendors to gain technical know-how on manufacturing and maintaining smart elevators. For instance, it is collaborating with Cobalt Robotics, a machine learning startup, to improve its automation and smart technologies.
By using Cobalt's technology, Otis will be able to remotely call and dispatch its elevators. Cobalt's robots provide safety and security, while also increasing the speed with which teams can resolve their safety issues throughout their spaces.
To increase their footprint and last-mile delivery, smart elevator manufacturers are taking the e-commerce route. Otis announced the launch of a digital portal where customers can now book an order for a Gen2® Prime elevator entirely online. With this portal, customers can customize their orders and book their orders straightaway from either their laptops or mobile.
Hitachi, another leading smart elevator manufacturer, is also using AI, IoT, and Big Data to ensure its elevators are working on the most innovative technology. For instance, the company plans to focus on digital technology and increase revenues from digitization to around 50% by fiscal 2024.
The company is focusing on smart and energy-saving factory equipment amidst growing pressures to improve on these aspects. Hitachi is planning to invest 1.1 trillion yen ($8.24 billion) in research and development till 2024, to drive its digitization efforts.
Similarly, in March 2022, Hitachi Elevator (Thailand) Co., Ltd., a joint venture company of Hitachi, Ltd. and Siam Motors Group launched a new full-scale Smart Building Solution business in Thailand.
Attributes | Details |
---|---|
Estimated Market Value (2022) | US$ 26.5 Billion |
Projected Market Value (2032) | US$ 63.9 Billion |
Market CAGR 2022 to 2032 | 9.2% |
Share of top 5 players | Around 35% |
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | US$ Million/Billion for Value |
Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) |
Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa, and South Africa |
Key Segments Covered | Component, Service, End-User, and Region |
Key Companies Profiled |
|
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global smart elevator automation system market size was valued at ~US$ 24.7 Billion in 2021 and is estimated to reach US$ 26.5 Billion in 2022.
As per FMI, the global smart elevator automation system market is set to grow at 9.2% CAGR between 2022 and 2032, reaching around US$ 63.9 Billion by 2032.
The global smart elevator automation system market grew at a CAGR of 6.7% during the historical period of 2017 to 2021.
Increasing demand for energy-efficient and secure solutions is anticipated to drive the demand for smart elevator automation systems in the market.
South Asia and the Pacific are projected to register strong growth in the market, exhibiting a CAGR of nearly 14.8% during the forecast period.
Increasing usage of wireless technologies and growing adoption of IoT solutions for smart elevator management are some of the key trends expected to drive the growth of the market
The smart elevator automation system market in East Asia is estimated to grow at around 3.2X over the forecast period.
The top 5 countries driving demand for smart elevator automation systems include the USA, Germany, India, Japan, and the UK
As per FMI, Germany is expected to account for 22.1% of the European smart elevator automation system market in 2022.
The smart elevator automation system market in South Korea and Japan was valued at ~US$ 0.88 Billion and ~US$ 1.28 Billion in 2021 and is projected to register a CAGR of around 8.8% and 14.3% respectively between 2022 and 2032.
Some of the leading companies in this landscape are Hitachi Ltd., Schindler Group, Kone Corporation, Honeywell International Inc., Robert Bosch GmbH, TK Elevator, and Hyundai Elevator, among others. As per Future Market Insights, nearly 35% of the market share is currently covered by these top players.
1. Executive Summary | Smart Elevator Automation System Market 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Pricing Analysis 4.1. Pricing Analysis, By Smart Elevator Automation Systems 4.2. Global Average Pricing Analysis Benchmark 5. COVID-19 Impact Analysis 5.1. Impact of COVID-19 on Market Growth 5.2. Pre-COVID-19 Market Growth (2017-2019) 5.3. Expected Recovery Scenario (Short Term / Mid Term / Long Term) 5.4. Key Action Points for Market Vendors 6. Global Market Demand (in Value in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 6.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021 6.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Market Background 7.1. Macro-Economic Factors 7.2. Forecast Factors - Relevance & Impact 7.3. Value Chain 7.4. Market Dynamics 7.4.1. Drivers 7.4.2. Restraints 7.4.3. Opportunities 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Million) Analysis By Component, 2017 to 2021 8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Component, 2022 to 2032 8.3.1. Card Reader 8.3.2. Biometric 8.3.3. Touchscreen and Keypad 8.3.4. Security and Control System 8.3.5. Sensors, Motors, and Automation System 8.3.6. Building Management System 8.4. Market Attractiveness Analysis By Component 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Service 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) Analysis By Service, 2017 to 2021 9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Service, 2022 to 2032 9.3.1. Installation Service 9.3.2. Maintenance and Repair Service 9.3.3. Modernization Service 9.4. Market Attractiveness Analysis By Service 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) Analysis By End User, 2017 to 2021 10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By End User, 2022 to 2032 10.3.1. Residential Sector 10.3.2. Commercial Sector 10.3.3. Industrial Sector 10.3.4. Others 10.4. Market Attractiveness Analysis By End User 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Million) Analysis By Region, 2017 to 2021 11.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Region, 2022 to 2032 11.3.1. North America 11.3.2. Latin America 11.3.3. Europe 11.3.4. East Asia 11.3.5. South Asia & Pacific 11.3.6. Middle East & Africa (MEA) 11.4. Market Attractiveness Analysis By Region 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12.1. Introduction 12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 12.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 12.3.1. By Component 12.3.2. By Service 12.3.3. By End User 12.3.4. By Country 12.3.4.1. The USA 12.3.4.2. Canada 12.4. Market Attractiveness Analysis 12.4.1. By Component 12.4.2. By Service 12.4.3. By End User 12.4.4. By Country 12.5. Market Trends 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13.1. Introduction 13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 13.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 13.3.1. By Component 13.3.2. By Service 13.3.3. By End User 13.3.4. By Country 13.3.4.1. Brazil 13.3.4.2. Mexico 13.3.4.3. Rest of Latin America 13.4. Market Attractiveness Analysis 13.4.1. By Component 13.4.2. By Service 13.4.3. By End User 13.4.4. By Country 13.5. Market Trends 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14.1. Introduction 14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 14.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 14.3.1. By Component 14.3.2. By Service 14.3.3. By End User 14.3.4. By Country 14.3.4.1. Germany 14.3.4.2. Italy 14.3.4.3. France 14.3.4.4. The UK 14.3.4.5. Spain 14.3.4.6. BENELUX 14.3.4.7. Russia 14.3.4.8. Rest of Europe 14.4. Market Attractiveness Analysis 14.4.1. By Component 14.4.2. By Service 14.4.3. By End User 14.4.4. By Country 14.5. Market Trends 15. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15.1. Introduction 15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 15.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 15.3.1. By Component 15.3.2. By Service 15.3.3. By End User 15.3.4. By Country 15.3.4.1. India 15.3.4.2. Indonesia 15.3.4.3. Malaysia 15.3.4.4. Singapore 15.3.4.5. Australia & New Zealand 15.3.4.6. Rest of South Asia and Pacific 15.4. Market Attractiveness Analysis 15.4.1. By Component 15.4.2. By Service 15.4.3. By End User 15.4.4. By Country 15.5. Market Trends 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16.1. Introduction 16.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 16.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 16.3.1. By Component 16.3.2. By Service 16.3.3. By End User 16.3.4. By Country 16.3.4.1. China 16.3.4.2. Japan 16.3.4.3. South Korea 16.4. Market Attractiveness Analysis 16.4.1. By Component 16.4.2. By Service 16.4.3. By End User 16.4.4. By Country 16.5. Market Trends 17. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17.1. Introduction 17.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 17.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 17.3.1. By Component 17.3.2. By Service 17.3.3. By End User 17.3.4. By Country 17.3.4.1. GCC Countries 17.3.4.2. Turkey 17.3.4.3. South Africa 17.3.4.4. Rest of Middle East and Africa 17.4. Market Attractiveness Analysis 17.4.1. By Component 17.4.2. By Service 17.4.3. By End User 17.4.4. By Country 17.5. Market Trends 18. Key Countries Analysis- Market 18.1. U.S. Market Analysis 18.1.1. By Component 18.1.2. By Service 18.1.3. By End User 18.2. Canada Market Analysis 18.2.1. By Component 18.2.2. By Service 18.2.3. By End User 18.3. Mexico Market Analysis 18.3.1. By Component 18.3.2. By Service 18.3.3. By End User 18.4. Brazil Market Analysis 18.4.1. By Component 18.4.2. By Service 18.4.3. By End User 18.5. Germany Market Analysis 18.5.1. By Component 18.5.2. By Service 18.5.3. By End User 18.6. Italy Market Analysis 18.6.1. By Component 18.6.2. By Service 18.6.3. By End User 18.7. France Market Analysis 18.7.1. By Component 18.7.2. By Service 18.7.3. By End User 18.8. The UK Market Analysis 18.8.1. By Component 18.8.2. By Service 18.8.3. By End User 18.9. Spain Market Analysis 18.9.1. By Component 18.9.2. By Service 18.9.3. By End User 18.10. BENELUX Market Analysis 18.10.1. By Component 18.10.2. By Service 18.10.3. By End User 18.11. Russia Market Analysis 18.11.1. By Component 18.11.2. By Service 18.11.3. By End User 18.12. Rest of Europe Market Analysis 18.12.1. By Component 18.12.2. By Service 18.12.3. By End User 18.13. China Market Analysis 18.13.1. By Component 18.13.2. By Service 18.13.3. By End User 18.14. Japan Market Analysis 18.14.1. By Component 18.14.2. By Service 18.14.3. By End User 18.15. South Korea Market Analysis 18.15.1. By Component 18.15.2. By Service 18.15.3. By End User 18.16. India Market Analysis 18.16.1. By Component 18.16.2. By Service 18.16.3. By End User 18.17. Malaysia Market Analysis 18.17.1. By Component 18.17.2. By Service 18.17.3. By End User 18.18. Indonesia Market Analysis 18.18.1. By Component 18.18.2. By Service 18.18.3. By End User 18.19. Singapore Market Analysis 18.19.1. By Component 18.19.2. By Service 18.19.3. By End User 18.20. Australia and New Zealand Market Analysis 18.20.1. By Component 18.20.2. By Service 18.20.3. By End User 18.21. Rest of South Asia and Pacific Market Analysis 18.21.1. By Component 18.21.2. By Service 18.21.3. By End User 18.22. GCC Countries Market Analysis 18.22.1. By Component 18.22.2. By Service 18.22.3. By End User 18.23. Turkey Market Analysis 18.23.1. By Component 18.23.2. By Service 18.23.3. By End User 18.24. South Africa Market Analysis 18.24.1. By Component 18.24.2. By Service 18.24.3. By End User 18.25. Rest of the Middle East and Africa Market Analysis 18.25.1. By Component 18.25.2. By Service 18.25.3. By End User 19. Market Structure Analysis 19.1. Market Analysis by Tier of Companies 19.2. Market Concentration 19.3. Market Share Analysis of Top Players 19.4. Market Presence Analysis 19.4.1. Regional footprint by Players 19.4.2. Product footprint by Players 19.4.3. Channel footprint by Players 20. Competition Analysis 20.1. Competition Dashboard 20.2. Key Strategies, By Competitors 20.3. Competition Deep Dive 20.3.1. Fujitec Co., Ltd. 20.3.1.1. Business Overview 20.3.1.2. Product Portfolio 20.3.1.3. Profitability by Market Segments (Business Segments / Region) 20.3.1.4. Sales Footprint 20.3.1.5. Strategy Overview 20.3.1.5.1. Marketing Strategy 20.3.1.5.2. Product Strategy 20.3.1.5.3. Channel Strategy 20.3.2. Mitsubishi Electric Corporation 20.3.2.1. Business Overview 20.3.2.2. Product Portfolio 20.3.2.3. Profitability by Market Segments (Business Segments / Region) 20.3.2.4. Sales Footprint 20.3.2.5. Strategy Overview 20.3.2.5.1. Marketing Strategy 20.3.2.5.2. Product Strategy 20.3.2.5.3. Channel Strategy 20.3.3. Hitachi Ltd. 20.3.3.1. Business Overview 20.3.3.2. Product Portfolio 20.3.3.3. Profitability by Market Segments (Business Segments / Region) 20.3.3.4. Sales Footprint 20.3.3.5. Strategy Overview 20.3.3.5.1. Marketing Strategy 20.3.3.5.2. Product Strategy 20.3.3.5.3. Channel Strategy 20.3.4. Kone Corporation 20.3.4.1. Business Overview 20.3.4.2. Product Portfolio 20.3.4.3. Profitability by Market Segments (Business Segments / Region) 20.3.4.4. Sales Footprint 20.3.4.5. Strategy Overview 20.3.4.5.1. Marketing Strategy 20.3.4.5.2. Product Strategy 20.3.4.5.3. Channel Strategy 20.3.5. Otis Elevator Company (I). Ltd. 20.3.5.1. Business Overview 20.3.5.2. Product Portfolio 20.3.5.3. Profitability by Market Segments (Business Segments / Region) 20.3.5.4. Sales Footprint 20.3.5.5. Strategy Overview 20.3.5.5.1. Marketing Strategy 20.3.5.5.2. Product Strategy 20.3.5.5.3. Channel Strategy 20.3.6. ThyssenKrupp AG 20.3.6.1. Business Overview 20.3.6.2. Product Portfolio 20.3.6.3. Profitability by Market Segments (Business Segments / Region) 20.3.6.4. Sales Footprint 20.3.6.5. Strategy Overview 20.3.6.5.1. Marketing Strategy 20.3.6.5.2. Product Strategy 20.3.6.5.3. Channel Strategy 20.3.7. Schindler Group 20.3.7.1. Business Overview 20.3.7.2. Product Portfolio 20.3.7.3. Profitability by Market Segments (Business Segments / Region) 20.3.7.4. Sales Footprint 20.3.7.5. Strategy Overview 20.3.7.5.1. Marketing Strategy 20.3.7.5.2. Product Strategy 20.3.7.5.3. Channel Strategy 20.3.8. Honeywell International Inc. 20.3.8.1. Business Overview 20.3.8.2. Product Portfolio 20.3.8.3. Profitability by Market Segments (Business Segments / Region) 20.3.8.4. Sales Footprint 20.3.8.5. Strategy Overview 20.3.8.5.1. Marketing Strategy 20.3.8.5.2. Product Strategy 20.3.8.5.3. Channel Strategy 20.3.9. Robert Bosch GmbH 20.3.9.1. Business Overview 20.3.9.2. Product Portfolio 20.3.9.3. Profitability by Market Segments (Business Segments / Region) 20.3.9.4. Sales Footprint 20.3.9.5. Strategy Overview 20.3.9.5.1. Marketing Strategy 20.3.9.5.2. Product Strategy 20.3.9.5.3. Channel Strategy 20.3.10. Hyundai Elevator 20.3.10.1. Business Overview 20.3.10.2. Product Portfolio 20.3.10.3. Profitability by Market Segments (Business Segments / Region) 20.3.10.4. Sales Footprint 20.3.10.5. Strategy Overview 20.3.10.5.1. Marketing Strategy 20.3.10.5.2. Product Strategy 20.3.10.5.3. Channel Strategy 20.3.11. Sigma Elevator Company 20.3.11.1. Business Overview 20.3.11.2. Product Portfolio 20.3.11.3. Profitability by Market Segments (Business Segments / Region) 20.3.11.4. Sales Footprint 20.3.11.5. Strategy Overview 20.3.11.5.1. Marketing Strategy 20.3.11.5.2. Product Strategy 20.3.11.5.3. Channel Strategy 20.3.12. Toshiba Elevator and Building Systems Corporation 20.3.12.1. Business Overview 20.3.12.2. Product Portfolio 20.3.12.3. Profitability by Market Segments (Business Segments / Region) 20.3.12.4. Sales Footprint 20.3.12.5. Strategy Overview 20.3.12.5.1. Marketing Strategy 20.3.12.5.2. Product Strategy 20.3.12.5.3. Channel Strategy 20.3.13. Huawei Technologies Co., Ltd. 20.3.13.1. Business Overview 20.3.13.2. Product Portfolio 20.3.13.3. Profitability by Market Segments (Business Segments / Region) 20.3.13.4. Sales Footprint 20.3.13.5. Strategy Overview 20.3.13.5.1. Marketing Strategy 20.3.13.5.2. Product Strategy 20.3.13.5.3. Channel Strategy 20.3.14. TK Elevator 20.3.14.1. Business Overview 20.3.14.2. Product Portfolio 20.3.14.3. Profitability by Market Segments (Business Segments / Region) 20.3.14.4. Sales Footprint 20.3.14.5. Strategy Overview 20.3.14.5.1. Marketing Strategy 20.3.14.5.2. Product Strategy 20.3.14.5.3. Channel Strategy 20.3.15. Others 20.3.15.1. Business Overview 20.3.15.2. Product Portfolio 20.3.15.3. Profitability by Market Segments (Business Segments / Region) 20.3.15.4. Sales Footprint 20.3.15.5. Strategy Overview 20.3.15.5.1. Marketing Strategy 20.3.15.5.2. Product Strategy 20.3.15.5.3. Channel Strategy 21. Assumptions and Acronyms Used 22. Research Methodology
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Table 01: Global Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 02: Global Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 03: Global Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 04: Global Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 05: Global Market Value (US$ Million) Analysis (2017 to 2021) By End User Table 06: Global Market Value (US$ Million) Forecast (2022 to 2032) By End User Table 07: Global Market Value (US$ Million) Analysis (2017 to 2021) by Region Table 08: Global Market Value (US$ Million) Forecast (2022 to 2032) by Region Table 09: North America Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 10: North America Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 11: North America Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 12: North America Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 13: North America Market Value (US$ Million) Analysis (2017 to 2021) By End User (1/2) Table 14: North America Market Value (US$ Million) Forecast (2022 to 2032) By End User (1/2) Table 15: North America Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 16: North America Market Value (US$ Million) Forecast (2022 to 2032) by Country Table 17: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 18: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 19: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 20: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 21: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By End User (1/2) Table 22: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By End User (1/2) Table 23: Latin America Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 24: Latin America Market Value (US$ Million) Forecast (2022 to 2032) by Country Table 25: Europe Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 26: Europe Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 27: Europe Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 28: Europe Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 29: Europe Market Value (US$ Million) Analysis (2017 to 2021) By End User Table 30: Europe Market Value (US$ Million) Forecast (2022 to 2032) By End User Table 31: Europe Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 32: Europe Market Value (US$ Million) Forecast (2022 to 2032) by Country Table 33: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 34: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 35: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 36: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 37: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By End User Table 38: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By End User Table 39: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 40: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) by Country Table 41: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 42: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 43: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 44: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 45: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By End User Table 46: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By End User Table 47: East Asia Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 48: East Asia Market Value (US$ Million) Forecast (2022 to 2032) by Country Table 49: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By Component Table 50: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By Component Table 51: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By Service Table 52: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By Service Table 53: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By End User Table 54: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By End User Table 55: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) by Country Table 56: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) by Country
Figure 01: Global Market Size (US$ Million) and Y-o-Y Growth Rate from 2022 to 2032 Figure 02: Global Market Size and Y-o-Y Growth Rate from 2022 to 2032 Figure 03: Global Market Value (US$ Million), 2017 to 2021 Figure 04: Global Market Value (US$ Million), 2022 to 2032 Figure 05: Global Market Value Share Analysis (2022 to 2032) By Component Figure 06: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 07: Global Market Attractiveness By Component Figure 08: Global Market Value Share Analysis (2022 to 2032) By Service Figure 09: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 10: Global Market Attractiveness By Service Figure 11: Global Market Value Share Analysis (2022 to 2032) By End User Figure 12: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 13: Global Market Attractiveness By End User Figure 14: Global Market Value Share Analysis (2022 to 2032) by Region Figure 15: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Region Figure 16: Global Market Attractiveness by Region Figure 17: North America Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 18: Latin America Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 19: Europe Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 20: East Asia Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 21: South Asia and Pacific Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 22: Middle East and Africa Market Absolute $ Opportunity (US$ Million), c Figure 23: North America Market Value (US$ Million), 2017 to 2021 Figure 24: North America Market Value (US$ Million), 2022 to 2032 Figure 25: North America Market Value Share Analysis (2022 to 2032) By Component Figure 26: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 27: North America Market Attractiveness By Component Figure 28: North America Market Value Share Analysis (2022 to 2032) By Service Figure 29: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 30: North America Market Attractiveness By Service Figure 31: North America Market Value Share Analysis (2022 to 2032) By End User Figure 32: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 33: North America Market Attractiveness By End User Figure 34: North America Market Value Share Analysis (2022 to 2032) by Country Figure 35: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 36: North America Market Attractiveness by Country Figure 37: The USA Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 38: Canada Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 39: Latin America Market Value (US$ Million), 2017 to 2021 Figure 40: Latin America Market Value (US$ Million), 2022 to 2032 Figure 41: Latin America Market Value Share Analysis (2022 to 2032) By Component Figure 42: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 43: Latin America Market Attractiveness By Component Figure 44: Latin America Market Value Share Analysis (2022 to 2032) By Service Figure 45: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 46: Latin America Market Attractiveness By Service Figure 47: Latin America Market Value Share Analysis (2022 to 2032) By End User Figure 48: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 49: Latin America Market Attractiveness By End User Figure 50: Latin America Market Value Share Analysis (2022 to 2032) by Country Figure 51: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 52: Latin America Market Attractiveness by Country Figure 53: Brazil Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 54: Mexico Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 55: Rest of Latin America Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 56: Europe Market Value (US$ Million), 2017 to 2021 Figure 57: Europe Market Value (US$ Million), 2022 to 2032 Figure 58: Europe Market Value Share Analysis (2022 to 2032) By Component Figure 59: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 60: Europe Market Attractiveness By Component Figure 61: Europe Market Value Share Analysis (2022 to 2032) By Service Figure 62: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 63: Europe Market Attractiveness By Service Figure 64: Europe Market Value Share Analysis (2022 to 2032) By End User Figure 65: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 66: Europe Market Attractiveness By End User Figure 67: Europe Market Value Share Analysis (2022 to 2032) by Country Figure 68: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 69: Europe Market Attractiveness by Country Figure 70: Germany Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 71: Italy Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 72: France Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 73: The UK Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 74: Spain Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 75: BENELUX Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 76: Russia Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 77: Rest of Europe Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 78: South Asia and Pacific Market Value (US$ Million), 2017 to 2021 Figure 79: South Asia and Pacific Market Value (US$ Million), 2022 to 2032 Figure 80: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By Component Figure 81: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 82: South Asia and Pacific Market Attractiveness By Component Figure 83: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By Service Figure 84: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 85: South Asia and Pacific Market Attractiveness By Service Figure 86: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By End User Figure 87: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 88: South Asia and Pacific Market Attractiveness By End User Figure 89: South Asia and Pacific Market Value Share Analysis (2022 to 2032) by Country Figure 90: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 91: South Asia and Pacific Market Attractiveness by Country Figure 92: India Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 93: Indonesia Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 94: Malaysia Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 95: Singapore Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 96: Australia & New Zealand Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 97: Rest of South Asia and Pacific Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 98: East Asia Market Value (US$ Million), 2017 to 2021 Figure 99: East Asia Market Value (US$ Million), 2022 to 2032 Figure 100: East Asia Market Value Share Analysis (2022 to 2032) By Component Figure 101: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 102: East Asia Market Attractiveness By Component Figure 103: East Asia Market Value Share Analysis (2022 to 2032) By Service Figure 104: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 105: East Asia Market Attractiveness By Service Figure 106: East Asia Market Value Share Analysis (2022 to 2032) By End User Figure 107: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 108: East Asia Market Attractiveness By End User Figure 109: East Asia Market Value Share Analysis (2022 to 2032) by Country Figure 110: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 111: East Asia Market Attractiveness by Country Figure 112: China Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 113: Japan Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 114: South Korea Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 115: Middle East and Africa Market Value (US$ Million), 2017 to 2021 Figure 116: Middle East and Africa Market Value (US$ Million), 2022 to 2032 Figure 117: Middle East and Africa Market Value Share Analysis (2022 to 2032) By Component Figure 118: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Component Figure 119: Middle East and Africa Market Attractiveness By Component Figure 120: Middle East and Africa Market Value Share Analysis (2022 to 2032) By Service Figure 121: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Service Figure 122: Middle East and Africa Market Attractiveness By Service Figure 123: Middle East and Africa Market Value Share Analysis (2022 to 2032) By End User Figure 124: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By End User Figure 125: Middle East and Africa Market Attractiveness By End User Figure 126: Middle East and Africa Market Value Share Analysis (2022 to 2032) by Country Figure 127: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country Figure 128: Middle East and Africa Market Attractiveness by Country Figure 129: GCC Countries Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 130: Turkey Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 131: South Africa Market Absolute $ Opportunity (US$ Million), 2017 to 2032 Figure 132: Rest of Middle East and Africa Market Absolute $ Opportunity (US$ Million), 2017 to 2032
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