In terms of value, the global intelligent elevator automation systems market is expected to grow at a CAGR of 14.3% during the estimation period. Global Smart Elevator Automation Systems Market was estimated at USD 8,487.6 Million in 2016 and is projected to basically expand to reach USD 36,417.8 Million by 2027, owing to growing development new tall structures and the development of urbanization.
In this report, FMI has divided the global intelligent elevator automation systems market on the basis of aid, part, end customers, and area. By administration, the smart elevator automation system market is further divided into facility administration, repair and maintenance administration, and modernization administration.
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Future Market Insights recently distributed a report titled “Smart Elevator Automation Systems Market – Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027”. The intelligent elevator automation system is another age of elevators with imaginative innovations, which provide different offices in addition to security.
The intelligent elevator automation system is intended to limit overall energy usage and productively monitor passenger traffic inside a structure. With the progression of innovation and the evolution of the foundations of the structure, intelligent elevator automation systems have become adaptable to monitor building traffic safely. These variables are believed to support the development of the global smart elevator automation systems market.
Smart Elevator Automation System Market: Segment and Regional Forecasts
Government regulations and standards for global green infrastructure, reduction in operating costs and automation are the major factors expected to drive the growth of the smart elevator automation systems market. In terms of value, the residential sector sub-segment is expected to witness strong growth over the forecast period in the global smart elevator automation systems market.
On the basis of components, the card reader sub-segment in the intelligent elevator automation systems market is expected to grow at a high CAGR of 19.2% during the forecast period. However, the sub-segment of sensor motors and automation systems is expected to capture a major share of the global smart elevator automation systems market as their demand increases to maximize the energy efficiency and travel speed of elevators. elevators.
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Further, the global smart elevator automation systems market has been segmented into seven major regions, namely, North America, Latin America, Eastern Europe, Eastern Europe West, Asia-Pacific ex-Japan (APEJ), Japan and Middle East and Africa (MEA). In terms of value, the Asia Pacific Exc. The Japanese intelligent elevator automation system market is estimated to grow with a CAGR of 18.6% during the forecast period.
This can be attributed to the transformation of existing infrastructure and the growing number of smart city projects. In Western Europe, Germany is expected to be the dominant market for intelligent elevator automation systems and create an additional opportunity of US$2,042.8 million between 2017 and 2027. The growing demand for safety and security systems is one of the major factors fueling the growth of the intelligent elevator automation systems market in Western Europe.
Companies operating in the smart elevator automation systems market
Fujitec, Mitsubishi, Hitachi, Kone Corporation, Otis Elevator, Schindler, ThyssenKrupp Elevator, Tyco International, and Honeywell are examples of some of the key participants covered in the Smart Elevator Automation Systems Market report. The report also describes company-specific strategies, key differentiators, market structure, and market share analysis related to key industry stakeholders.
Key Segments Covered
Per end user
Key regions covered:
APEJ (Asia Pacific excluding Japan)
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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