Smart Elevator Market Analysis By Component Type, By Service Type and End Use Industry-Forecast To 2025
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Product Code:
RP-ID-10325846 -
Published Date:
21 Oct 2022 -
Region:
Global
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Pages:
99 -
Category:
Semiconductor & Electronics -
Publisher:
Pub-ID-52
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
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The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Market Overview:
Translate Report
The smart elevator market is estimated to grow from USD 18 billion in 2019 to USD 33 billion by 2025, at a CAGR of approximately 11%. The future of the smart elevator market creates new opportunities for smart elevator manufacturers and players presence across the value chain. The smart elevator market is expected to decline in 2020 due to COVID-19 and is expected to recover in 2021. The major growth drivers for this market are growth of building & construction industry and rising adoption of IoT technology.
North America is the largest region in the global smart elevator market due to increasing adoption of IoT based technology. Commercial building is the largest application for smart elevator market due to growth of increasing demand in commercial buildings.
Smart elevator market is consolidated and some of the major players in this market include ThyssenKrupp, Hyundai, Toshiba, OTIS, KONE, Schindler Group, Hitachi, Mitsubishi Electric and others
Report Scope:
The scope of the global Smart Elevator market report is as follows:
Key Features Description
Base Year 2019
Trend Period 2014-2019
Forecast Period 2020-2025
Units Considered Value ($ Million)
Market Segments By End Use Industry ( Commercial Building, Residential Building, Institution, Automated Vehicle Storage and Retrieval System), By Component (Control System, Maintenance System, Communications System), By Service (New Installation, Modernization, and Maintenance)
Regional / Country North America ( US, Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia Pacific (Japan, China, India, and Rest of APAC), and RoW
Research Methodology
Market Investigate performed both primary as well as exhaustive secondary research for this study. Initially, Market Investigate analyzed all the leading smart elevator manufacturers across the globe. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the company personnel were enquired about their key products, revenues, manufacturing plant location, and competitors. For this study, Market Investigate conducted more than 20 interviews, the same are mentioned below:
By company type: Manufacturers (50%), Consumers (25%), Researchers (15%), Independent industry consultant (10%)
By geography: North America (25%), Asia (40%), Europe (25%), Rest of the World (15%)
By designation: Top level (40%), Operation level (20%), Mid-level (40%)
Market Investigate analyzed by components, service, end use industry, and regional presence of all major smart elevator manufacturers across the globe. Market size for global smart elevator was calculated by using bottom-up approach as well as top –down approach. Various secondary sources such as secondary sources directories, database, company annual reports, white papers, investor presentations and financial reports were also studied to estimate the market size and growth rate.
Geography Analysis:
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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