Smart Elevator Market Worth $16.4 Billion by 2018
DALLAS, June 11, 2013 /PRNewswire/ –
According to a new market research report “Smart Elevator Market: Access Controls &
Security (Card Based, Biometrics, Touch Screens & Keypads, Security); Automation (Sensors
& Controllers, Motors & Drives, BMS); Modernization (Operating Panels, Electronic Device)
(2013-2018)”, published by MarketsandMarkets, the Total Smart Elevator Market is expected
to reach $16.45 billion by 2018 growing at a CAGR of 10.5% from 2013 to 2018.
- 106 Market Data Tables - 31 Figures - 278 Pages and an in-depth Table of Content on "Smart Elevator Market"
Early buyers will receive 10% customization on this report.
The demand for security is propelling with respect to the advanced and more
sophisticated technology being introduced in the market. Organizations are more attentive
to equip themselves for such threats and need to safeguard their properties. Demand for
energy efficient solutions, enhanced security, and improving the standards of the
individuals have led to the development of the Smart Elevator Market
(i.e. Elevator Access Controls & Security, Automation, & Modernization Market). Energy
Efficiency and Centralized Controls are the driving factors in Elevator Automation.
A well maintained elevator lasts for around 20 years or we can say it is an average
life of an elevator. After a stipulated time frame, upgrading an already installed
elevators-system is a must – be it due to statutory requirements for increasing handling
capacity or comfort, saving energy costs. Updating controllers, communication panel,
drives, cabins, doors, lightening and sensors and other and innovative operating and
display elements with new technologies will enhance elevators life, saves energy and
power, improved usability for people with special needs. 45% of revenue will be generated
from new installation, modernization, and servicing; which would collectively contribute
for 55% of revenue.
The surge in construction sector after the financial crisis has created a huge demand
for elevators. The Market for Elevator Access Control, Modernization, and Automation will
also gain momentum. China will solidify its position as the world’s largest market for
elevators, with domestic demand growing over 12% per year. Infrastructure development and
global sporting events such as World Cup Soccer in 2014, Olympics in 2016 offer excellent
opportunities to the market growth.
The report has detailed segmentation by products, applications, and geography for
smart elevators market. Elevator access controls and security market is further segmented
into card based, biometric based, keypad and touch based, surveillance system, intruder
alarm, and visitor management system. Elevator automation includes sensor and controllers,
motors and drives, building management system. Operating panels, electronic equipment, and
landing system are covered under elevator modernization market.
The application segmentation of the market covers the different types of buildings
like commercial, institutional, residential, and others. These broad application sectors
have been further segmented by the type of buildings. For instance, the commercial
application has been further segmented by offices, lodging, retail, healthcare, and
One of the objectives of the research study is to analyze the market trends for each
of the product types. The report also covers Porters five force analysis, value chain with
detailed process flow diagram, and market dynamics such as drivers, restraints, and
opportunities for the elevator access controls and security, automation, and modernization
- Elevators Manufacturer - Elevator Access Controls Vendors - Real Estate Builders - System Integrators - Building Owners - Project/Building Consultants - Components Manufacturers (Sensors, Controls, etc.) - Building Management Systems (Product & Servers Providers) - Associations & Standards - Government Bodies involved in Green Buildings - Software Vendors
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