Smart Elevators Market By Solution, End-Use and Region-Forecasts, 2025

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Smart Elevators Market to surpass USD 25 billion
by 2025 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Smart Elevators Market

• Global Smart Elevators Market is set to grow from
  its current market value of more than 11 billion
  to over 25 billion by 205 according to a new
  research report by Global Market Insights, Inc.
  
• Increasing customer spending in constructing
  technically-advanced and intelligent structures,
  facilitating high comfort safety features is
  driving the smart elevators market. The
  integration of connectivity technology and
  internet features into lifts is a key ongoing
  trend, which offers enhanced security, energy
  efficiency, and alerts related to repair
  schedules. The intuitive technologies integrated
  into new lifts, such as connectivity and smart
  grouping, will reduce the waiting traveling
  time and improve the overall commuter experience,
  increasing their demand in intelligent buildings.
  The industry is also witnessing the adoption of
  cable-free lifts that can move vertically
  horizontally.

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Continued...

• In the smart elevators market, the residential
  application will grow at a CAGR of over 13 from
  2019 to 2025. The application is growing due to
  the construction of technically advanced
  automated residences, homes, and apartments
  across the globe. The lift manufacturers offer
  quick delivery and installation in residential
  projects and offer access control maintenance
  systems that alert residents building
  management about any issues related to
  malfunctioning, electricity cuts, etc.
• Moreover, in residential settings, the smart
  elevator market solutions offer high safety
  against theft and entry of unwanted people on
  restricted floors. Companies in the market are
  offering different lift solutions for different
  residential buildings depending on the number of
  floors, residents, etc. For instance, Kone offers
  different solutions including E MiniSpace, N
  MiniSpace, E MonoSpace, N MonoSpace, etc., for
  low, mid, and high-rise residential buildings
  with specifications such as economical,
  high-speed, etc.

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UK smart elevator market, by application, 2018
2025 (USD Million)

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Continued...

• Modernization of the lift systems in existing
  buildings is witnessing a steady demand in the
  smart elevators market due to infrastructure
  transformation initiatives in countries including
  the U.S., China, etc. The modernization services
  and solutions offered by various companies such
  as Kone, Otis, etc., include modular
  modernization and full elevator replacement in
  smart elevator market.
• In modernization, the service providers offer
  electrification, hoisting, car modernization,
  signalization, etc., which enhance the overall
  lift system and integrate intelligent features.
  For instance, Otis offers a CompassPlus solution,
  which is installed in the elevator modernization
  process and further facilitates security
  integration, high passenger efficiency, and
  customized lift design.

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Continued...

• The North America smart elevators market was
  valued at over USD 3 billion in 2018 and is
  developing rapidly owing to the construction of
  several high-rise complex buildings across all
  industry verticals. The region is showing a
  faster adoption due to the presence of
  technically aware users and high spending
  capacity on intelligent technologies.
• High government focus on deploying
  energy-efficient building solutions and reducing
  the overall carbon emissions will also lead to
  the industry development. Consumers in the U.S.
  are moving toward intelligent building automation
  management systems to gain safety and time
  saving benefits, creating a huge demand in the
  smart elevator market. Companies are enhancing
  their offerings in the North American region to
  gain a major customer base.

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Continued...

• The market comprises few key players in smart
  elevator market including Kone Oyj, thyssenkrupp
  AG, Schindler Group, Fujitec, Otis Elevator
  Company, Hyundai Elevator Company, Mitsubishi
  Elevator, Toshiba Elevators, etc.
• Major smart elevators market players are
  investing in new solution development strategies
  that facilitate enhanced customer comfort and
  experience. The companies are partnering with
  other technology providers to offer better
  elevator-related technologies across the globe.

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Industry Coverage

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Table OF Content
Chapter 1. Methodology and Scope 1.1.
Definitions forecast parameters 1.1.1.
Definitions 1.1.2. Methodology and forecast
parameters 1.2. Data Sources 1.2.1.
Secondary 1.2.2. Primary Chapter 2. Executive
Summary 2.1. Smart elevator industry 360
synopsis, 2015 2025 2.1.1. Business
trends 2.1.2. Solution trends 2.1.3. End-use
trends 2.1.4. Regional trends
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