Dublin, June 24, 2020 (GLOBE NEWSWIRE) -- The "Smart Elevator Market Report: Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
The future of the global smart elevator market looks attractive with opportunities in the residential, commercial, institutional, and automated vehicle storage & retrieval system industries.
The global smart elevator market is expected to decline in 2020 due to the global economic recession led by COVID-19. However market will witness recovery in the year 2021 and it is expected to reach an estimated $31.6 billion by 2025 with a CAGR of 14%-16% from 2020 to 2025. The major drivers for this market are growth in high rise residential and commercial buildings, rapid urbanization, and rising adoption of IoT technology in smart elevator.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of highly energy efficient elevator systems and greater utilization of IoT to ensure better performance. ThyssenKrupp, OTIS Elevator, KONE, Schindler Group, Hitachi, Hyundai Elevator, Toshiba Elevators, Mitsubishi Electric, and Fujitec are among the major smart elevator manufacturers.
The analyst forecasts that control system will remain the largest component type and it is the expected to witness the highest growth over the forecast period due to the increasing demand in advanced security automation and access control systems.
Within smart elevator market, commercial will remain the largest end use industry and it is expected to witness the highest growth over the forecast period due to the growth in commercial construction, such as retail shops, malls, warehouses, and hospitals and increasing demand for high rise commercial buildings.
North America will remain the largest region due to high adoption of advance and IoT based elevator systems. APAC is expected to witness the highest growth over the forecast period supported by increasing construction & infrastructure activities in emerging countries, such as China and India.
Features of the Global Smart Elevator Market
This report answers the following 11 key questions:
Key Topics Covered:
1. Executive Summery
2. Market Background and Classification
2.1: Introduction, Background, and Classification
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis
3.1: Macroeconomic Trends and Forecast
3.2: Global Smart Elevator Market: Trends and Forecast
3.3: Global Smart Elevator Market by Component
3.3.1: Control System
3.3.2: Maintenance System
3.3.3: Communication System
3.4: Global Smart Elevator Market by End Use Industry
3.4.1: Residential
3.4.2: Commercial
3.4.3: Institutional
3.4.4: Automated Vehicle Storage and Retrieval system
3.5: Global Smart Elevator Market by Service
3.5.1: New Installation
3.5.2: Modernization
3.5.3: Maintenance
4. Market Trends and Forecast Analysis by Region
4.1: Global Smart Elevator Market by Region
4.2: North American Smart Elevator Market
4.2.1: North American Smart Elevator by End Use Industry
4.2.2: The USA Smart Elevator Market
4.2.3: Canadian Smart Elevator Market
4.2.4: Mexican Smart Elevator Market
4.3: European Smart Elevator Market
4.3.1: European Smart Elevator by End Use Industry
4.3.2: German Smart Elevator Market
4.3.3: UK Smart Elevator Market
4.4: APAC Smart Elevator Market
4.4.1: APAC Smart Elevator by End Use Industry
4.4.2: Chinese Smart Elevator Market
4.4.3: Japanese Smart Elevator Market
4.5: ROW Smart Elevator Market
4.5.1: ROW Smart Elevator by End Use Industry
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Geographical Reach
5.3: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Smart Elevator Market by End Use Industry
6.1.2: Growth Opportunities for the Global Smart Elevator Market by Component
6.1.3: Growth Opportunities for the Global Smart Elevator Market by Service
6.1.4: Growth Opportunities for the Global Smart Elevator Market by Region
6.2: Emerging Trends in the Global Smart Elevator Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Geographical Expansion
6.3.3: Mergers, Acquisitions, and Joint Ventures
7. Company Profile of Leading Players
7.1: ThyssenKrupp
7.2: OTIS Elevator
7.3: KONE
7.4: Schindler Group
7.5: Hitachi Hyundai Elevator
7.6: Hyundai Elevator
7.7: Toshiba Elevators and Building Systems
7.8: Mitsubishi Electric
7.9: Fujitec
7.10: Motion Control Engineering
For more information about this report visit https://www.researchandmarkets.com/r/crs330
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