Smart Elevator Market with COVID-19 Impact - Global Forecast to 2026

Table of Content

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 27
1.2.1 INCLUSIONS AND EXCLUSIONS 28
1.3 STUDY SCOPE 28
1.3.1 MARKETS COVERED 28
FIGURE 1 SMART ELEVATOR MARKET SEGMENTATION 28
1.3.2 GEOGRAPHIC SCOPE 29
1.3.3 YEARS CONSIDERED 29
1.4 CURRENCY 29
1.5 LIMITATIONS 30
1.6 MARKET VOLUME 30
1.7 STAKEHOLDERS 30
1.8 SUMMARY OF CHANGES 30
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
FIGURE 2 RESEARCH FLOW 31
FIGURE 3 SMART ELEVATOR MARKET: RESEARCH DESIGN 32
2.1.1 SECONDARY DATA 33
2.1.1.1 Major secondary sources 33
2.1.2 PRIMARY DATA 34
2.1.2.1 Primary interviews with experts 34
2.1.2.2 Primary sources 34
2.1.2.3 Key industry insights 35
2.1.2.4 Breakdown of primary interviews 35
2.1.3 SECONDARY AND PRIMARY RESEARCH 36
2.2 MARKET SIZE ESTIMATION 36
2.2.1 BOTTOM-UP APPROACH 37
2.2.1.1 Approach for capturing market share by bottom-up analysis 37
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1?BOTTOM-UP (SUPPLY SIDE - PART I) 38
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1?BOTTOM-UP (SUPPLY SIDE – PART II) 38
FIGURE 6 BOTTOM-UP APPROACH 39
2.2.2 TOP-DOWN APPROACH 39
2.2.2.1 Approach for capturing market share by top-down analysis 39
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE) 40
FIGURE 8 TOP-DOWN APPROACH 40
2.3 DATA TRIANGULATION 41
FIGURE 9 DATA TRIANGULATION 41
2.4 ASSUMPTIONS 42
2.5 RISK ASSESSMENT 43
TABLE 1 LIMITATIONS AND ASSOCIATED RISKS 43
3 EXECUTIVE SUMMARY 44
FIGURE 10 COVID-19 IMPACT ON SMART ELEVATOR MARKET 45
3.1 REALISTIC SCENARIO 45
3.2 PESSIMISTIC SCENARIO 45
3.3 OPTIMISTIC SCENARIO 45
3.4 INITIATIVES BY KEY ELEVATOR PLAYERS DURING PANDEMIC 46
3.4.1 PURIFICATION SYSTEMS 46
TABLE 2 INITIATIVES IN PURIFICATION SYSTEMS 46
3.4.2 TOUCHLESS SOLUTIONS 47
TABLE 3 INITIATIVES IN TOUCHLESS SOLUTIONS 47
3.4.3 PASSENGER COMMUNICATIONS 47
TABLE 4 INITIATIVES IN PASSENGER COMMUNICATIONS 47
3.4.4 SOCIAL DISTANCING 48
TABLE 5 INITIATIVES IN SOCIAL DISTANCING 48
FIGURE 11 SMART ELEVATOR MARKET, BY COMPONENT, 2021–2026 (USD MILLION) 48
FIGURE 12 SMART ELEVATOR MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 49
FIGURE 13 SMART ELEVATOR MARKET, BY SERVICE, 2021–2026 (USD MILLION) 49
FIGURE 14 SMART ELEVATOR MARKET IN APAC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 50
4 PREMIUM INSIGHTS 51
4.1 ATTRACTIVE OPPORTUNITIES IN SMART ELEVATOR MARKET 51
FIGURE 15 URBANIZATION COUPLED WITH EVOLUTION OF SMART BUILDINGS DRIVING SMART ELEVATOR MARKET 51
4.2 SMART ELEVATOR MARKET, BY COMPONENT 51
FIGURE 16 CONTROL SYSTEM TO GROW AT HIGHEST CAGR IN FORECAST PERIOD 51
4.3 SMART ELEVATOR MARKET, BY APPLICATION 52
FIGURE 17 COMMERCIAL SEGMENT TO BE DOMINANT APPLICATION FOR SMART ELEVATORS 52
4.4 SMART ELEVATOR MARKET, BY SERVICE 52
FIGURE 18 NEW INSTALLATION TO HOLD LARGEST SHARE IN SMART ELEVATOR MARKET DURING FORECASTED PERIOD 52
4.5 SMART ELEVATOR MARKET FOR APAC, BY SERVICE AND COUNTRY (2021) 53
FIGURE 19 CHINA TO ACCOUNT FOR LARGEST SHARE OF SMART ELEVATOR MARKET 53
4.6 SMART ELEVATOR MARKET, BY REGION 53
FIGURE 20 APAC TO GROW AT HIGHEST CAGR IN SMART ELEVATOR MARKET DURING FORECAST PERIOD 53
5 MARKET OVERVIEW 54
5.1 MARKET DYNAMICS 54
FIGURE 21 GLOBAL SMART ELEVATOR MARKET DYNAMICS 54
5.1.1 DRIVERS 55
5.1.1.1 Increased construction of high-rise buildings equipped with smart vertical transportation systems due to rapid urbanization 55
FIGURE 22 URBAN AND RURAL POPULATION, 1950–2050 55
5.1.1.2 Growing need for reducing energy consumption in buildings 56
5.1.1.3 Growing aging population will facilitate development of better infrastructure within buildings 56
FIGURE 23 NUMBER OF PEOPLE AGED 65 YEARS AND ABOVE, BY REGION,
2019 AND 2050 57
5.1.1.4 Smart cities to boost installation of smart elevators 57
5.1.1.5 Modernization of old buildings 57
5.1.2 DRIVERS IMPACT ON SMART ELEVATOR MARKET 58
FIGURE 24 SMART ELEVATOR MARKET DRIVERS AND THEIR IMPACT 58
5.1.3 RESTRAINTS 58
5.1.3.1 High cost to install smart elevators 58
5.1.4 RESTRAINTS IMPACT ON SMART ELEVATOR MARKET 59
FIGURE 25 SMART ELEVATOR MARKET RESTRAINTS AND THEIR IMPACT 59
5.1.5 OPPORTUNITIES 59
5.1.5.1 Inclination toward green technologies in construction industry 59
5.1.5.2 Data analytics for predictive maintenance of elevators 59
5.1.6 OPPORTUNITIES IMPACT ON SMART ELEVATOR MARKET 60
FIGURE 26 SMART ELEVATOR MARKET OPPORTUNITIES AND THEIR IMPACT 60
5.1.7 CHALLENGES 60
5.1.7.1 Economic slowdown 60
5.1.7.2 Integration of smart elevator components in existing elevators 60
5.1.8 CHALLENGES IMPACT ON SMART ELEVATOR MARKET 61
FIGURE 27 SMART ELEVATOR MARKET CHALLENGES AND THEIR IMPACT 61
5.2 VALUE CHAIN ANALYSIS 61
FIGURE 28 SMART ELEVATOR MARKET VALUE CHAIN 61
5.2.1 RESEARCH AND DEVELOPMENT 61
5.2.2 COMPONENT MANUFACTURER 62
5.2.3 MANUFACTURER 62
5.2.4 SOFTWARE & SERVICE 62
5.2.5 INTEGRATOR 62
5.2.6 END-USE APPLICATION 62
5.3 ECOSYSTEM ANALYSIS FOR SMART ELEVATORS 63
FIGURE 29 SMART ELEVATOR MARKET ECOSYSTEM AND ADJACENT ECOSYSTEMS 63
TABLE 6 ECOSYSTEM COMPANIES 63
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5.4 YC-YCC SHIFT FOR SMART ELEVATOR MARKET 64
5.5 PORTERS FIVE FORCE ANALYSIS 65
TABLE 7 IMPACT OF PORTERS FIVE FORCES ON SMART ELEVATOR MARKET 65
5.6 SMART ELEVATOR USE CASES 65
5.6.1 INTRODUCTION 65
5.6.2 CASE STUDY 1: HONEYWELL: CORPORATE OFFICE RENOVATIONS 65
TABLE 8 HONEYWELL HELPED CORPORATE OFFICE RENOVATION IN US 65
5.6.3 CASE STUDY 2: KONE CORPORATION: 180 BRISBANE COMMERCIAL OFFICES, AUSTRALIA 66
TABLE 9 KONE CORPORATION SUPPORTED COMMERCIAL OFFICES IN AUSTRALIA 66
5.6.4 CASE STUDY 3: OTIS ELEVATORS: BAHRAIN WORLD TRADE CENTER 66
TABLE 10 OTIS SUPPORTED BAHRAIN WORLD TRADE CENTER TO INSTALL ELEVATORS 66
5.7 TECHNOLOGY TRENDS 67
5.7.1 ADOPTION OF ECO-FRIENDLY PRODUCTS 67
5.7.2 ARTIFICIAL INTELLIGENCE 67
5.7.3 INTUITIVE ELEVATOR TECHNOLOGY 67
5.7.4 INTERNET OF THINGS 67
5.7.5 CONNECTIVITY 5G TECHNOLOGY 67
5.8 PRICING ANALYSIS 67
TABLE 11 ASP OF SMART ELEVATOR PRODUCT TYPES, 2020 (USD) 68
5.9 TRADE ANALYSIS 68
FIGURE 30 LIFTING, HANDLING, LOADING, OR UNLOADING MACHINERY IMPORT,
BY KEY COUNTRIES, 2016-2019 (USD MILLION) 68
FIGURE 31 LIFTING, HANDLING, LOADING OR UNLOADING MACHINERY EXPORT,
BY KEY COUNTRIES, 2016-2019 (USD MILLION) 69
TABLE 12 IMPORT OF LIFTING, HANDLING, LOADING, OR UNLOADING MACHINERY,
BY REGION, 2016–2019 (USD MILLION) 69
TABLE 13 EXPORT OF LIFTING, HANDLING, LOADING, OR UNLOADING MACHINERY,
BY REGION, 2016–2019 (USD MILLION) 70
5.10 PATENT ANALYSIS 70
FIGURE 32 PATENT ANALYSIS RELATED TO SMART ELEVATOR MARKET 70
5.11 STANDARDS AND REGULATORY LANDSCAPE 71
5.11.1 STANDARDS FOR SAFETY AND ACCESSIBILITY IN EUROPE 71
5.11.2 LIFT/ELEVATOR STANDARDS IN ASIA-PACIFIC (INDIA) 72
5.11.3 LIFT/ELEVATOR STANDARDS IN AMERICA 72
5.11.4 BACNET: COMMUNICATION PROTOCOL 72
6 SMART ELEVATOR MARKET, BY COMPONENT 73
6.1 INTRODUCTION 74
FIGURE 33 SMART ELEVATOR MARKET, BY COMPONENT 74
FIGURE 34 CONTROL SYSTEM TO LEAD SMART ELEVATOR MARKET 74
TABLE 14 SMART ELEVATOR MARKET, BY COMPONENT, 2017–2020 (USD MILLION) 74
TABLE 15 SMART ELEVATOR MARKET, BY COMPONENT, 2021–2026 (USD MILLION) 75
6.2 CONTROL SYSTEMS 75
6.2.1 INTEGRATION OF DESTINATION-ORIENTED TECHNOLOGY WITHIN ELEVATORS TO MINIMIZE RISING CONGESTION TO BOOST DEMAND FOR CONTROL SYSTEMS 75
TABLE 16 SMART ELEVATOR MARKET FOR CONTROL SYSTEM, BY TYPE,
2017–2020 (USD MILLION) 75
TABLE 17 SMART ELEVATOR MARKET FOR CONTROL SYSTEM, BY TYPE,
2021–2026 (USD MILLION) 76
6.2.2 ELEVATOR CONTROL SYSTEMS 76
6.2.3 SECURITY CONTROL SYSTEMS 76
TABLE 18 SMART ELEVATOR MARKET FOR SECURITY CONTROL SYSTEM,
BY TYPE, 2017–2020 (USD MILLION) 76
TABLE 19 SMART ELEVATOR MARKET FOR SECURITY CONTROL SYSTEM,
BY TYPE, 2021–2026 (USD MILLION) 77
6.2.3.1 Surveillance camera 77
6.2.3.2 Intruder camera system 77
6.2.3.3 Fire alarm system 77
6.2.3.4 Visitor management system 77
6.2.4 ACCESS CONTROL SYSTEM 78
TABLE 20 SMART ELEVATOR MARKET FOR ACCESS CONTROL SYSTEM, BY TYPE,
2017–2020 (USD MILLION) 78
TABLE 21 SMART ELEVATOR MARKET FOR ACCESS CONTROL SYSTEM, BY TYPE,
2017–2020 (USD MILLION) 78
TABLE 22 SMART ELEVATOR MARKET FOR ACCESS CONTROL SYSTEM,
BY APPLICATION, 2017–2020 (USD MILLION) 78
TABLE 23 SMART ELEVATOR MARKET FOR ACCESS CONTROL SYSTEM,
BY APPLICATION, 2017–2020 (USD MILLION) 79
6.2.4.1 Biometrics access control systems 79
TABLE 24 SMART ELEVATOR MARKET FOR BIOMETRICS, BY APPLICATION,
2017–2020 (USD MILLION) 79
TABLE 25 SMART ELEVATOR MARKET FOR BIOMETRICS, BY APPLICATION,
2021–2026 (USD MILLION) 79
6.2.4.2 Card-based access control systems 80
TABLE 26 SMART ELEVATOR MARKET FOR CARD-BASED ACCESS CONTROL SYSTEM,
BY APPLICATION, 2017–2020 (USD MILLION) 80
TABLE 27 SMART ELEVATOR MARKET FOR CARD-BASED ACCESS CONTROL SYSTEM,
BY APPLICATION, 2021–2026 (USD MILLION) 80
6.2.4.3 Touch screen- & keypad-based access control systems 80
TABLE 28 SMART ELEVATOR MARKET FOR TOUCH SCREEN & KEYPAD, BY APPLICATION, 2017–2020 (USD MILLION) 81
TABLE 29 SMART ELEVATOR MARKET FOR TOUCH SCREEN & KEYPAD, BY APPLICATION, 2021–2026 (USD MILLION) 81
6.2.5 SENSORS 81
TABLE 30 SMART ELEVATOR MARKET FOR SENSOR, BY TYPE,
2017–2020 (USD MILLION) 81
TABLE 31 SMART ELEVATOR MARKET FOR SENSOR, BY TYPE,
2021–2026 (USD MILLION) 82
6.3 MAINTENANCE SYSTEM 82
6.3.1 PREDICTIVE MAINTENANCE?NEW TREND IN ELEVATOR MARKET 82
6.4 COMMUNICATION SYSTEM 82
6.4.1 COMMUNICATION SYSTEMS INTEGRAL FOR DATA TRANSFER 82
7 SMART ELEVATOR MARKET, BY APPLICATION 83
7.1 INTRODUCTION 84
FIGURE 35 SMART ELEVATOR MARKET, BY APPLICATION 84
FIGURE 36 COMMERCIAL SEGMENT TO CONTINUE TO HOLD LARGEST SIZE OF SMART ELEVATOR MARKET DURING FORECAST PERIOD 84
TABLE 32 SMART ELEVATOR MARKET, BY APPLICATION, 2017–2020 (USD MILLION) 84
TABLE 33 SMART ELEVATOR MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 85
7.2 RESIDENTIAL 85
7.2.1 GROWING HIGH-RISE RESIDENTIAL BUILDING CONSTRUCTION IS FUELING DEMAND FOR ENERGY-EFFICIENT ELEVATORS 85
TABLE 34 SMART ELEVATOR MARKET FOR RESIDENTIAL, BY SERVICE,
2017–2020 (USD MILLION) 85
TABLE 35 SMART ELEVATOR MARKET FOR RESIDENTIAL, BY SERVICE,
2021–2026 (USD MILLION) 86
TABLE 36 SMART ELEVATOR MARKET FOR RESIDENTIAL, BY REGION,
2017–2020 (USD MILLION) 86
TABLE 37 SMART ELEVATOR MARKET FOR RESIDENTIAL, BY REGION,
2021–2026 (USD MILLION) 86
TABLE 38 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION) 86
TABLE 39 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION) 87
TABLE 40 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN EUROPE,
BY COUNTRY, 2017–2020 (USD MILLION) 87
TABLE 41 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN EUROPE,
BY COUNTRY, 2021–2026 (USD MILLION) 87
TABLE 42 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2017–2020 (USD MILLION) 88
TABLE 43 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2021–2026 (USD MILLION) 88
TABLE 44 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN ROW,
BY REGION, 2017–2020 (USD MILLION) 88
TABLE 45 SMART ELEVATOR MARKET FOR RESIDENTIAL APPLICATION IN ROW,
BY REGION, 2021–2026 (USD MILLION) 88
7.3 COMMERCIAL 89
7.3.1 NEED TO OPTIMIZE TRAFFIC FLOW IN ELEVATORS IN COMMERCIAL SPACES TO RAISE DEMAND FOR SMART ELEVATORS 89
TABLE 46 SMART ELEVATOR MARKET FOR COMMERCIAL, BY SERVICE,
2017–2020 (USD MILLION) 89
TABLE 47 SMART ELEVATOR MARKET FOR COMMERCIAL, BY SERVICE,
2021–2026 (USD MILLION) 89
TABLE 48 SMART ELEVATOR MARKET FOR COMMERCIAL, BY END USER,
2017–2020 (USD MILLION) 90
TABLE 49 SMART ELEVATOR MARKET FOR COMMERCIAL, BY END USER,
2021–2026 (USD MILLION) 90
TABLE 50 SMART ELEVATOR MARKET FOR COMMERCIAL, BY REGION,
2017–2020 (USD MILLION) 90
TABLE 51 SMART ELEVATOR MARKET FOR COMMERCIAL, BY REGION,
2021–2026 (USD MILLION) 90
TABLE 52 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION) 91
TABLE 53 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION) 91
TABLE 54 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN EUROPE,
BY COUNTRY, 2017–2020 (USD MILLION) 91
TABLE 55 SMART ELEVATOR MARKET FOR COMMERCIAL, BY EUROPEAN COUNTRY, 2021–2026 (USD MILLION) 91
TABLE 56 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN
ASIA PACIFIC, BY COUNTRY, 2017–2020 (USD MILLION) 92
TABLE 57 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN ASIA PACIFIC BY COUNTRY, 2021–2026 (USD MILLION) 92
TABLE 58 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN ROW,
BY REGION, 2017–2020 (USD MILLION) 92
TABLE 59 SMART ELEVATOR MARKET FOR COMMERCIAL APPLICATION IN ROW,
BY REGION, 2021–2026 (USD MILLION) 92
7.4 INSTITUTIONAL 93
7.4.1 FOCUS ON ENERGY SAVING AND PASSENGER SECURITY ARE BOOSTING DEMAND FOR SMART ELEVATORS FOR INSTITUTIONAL APPLICATIONS 93
TABLE 60 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY SERVICE,
2017–2020 (USD MILLION) 93
TABLE 61 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY SERVICE,
2021–2026 (USD MILLION) 93
TABLE 62 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY END USER,
2017–2020 (USD MILLION) 94
TABLE 63 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY END USER,
2021–2026 (USD MILLION) 94
TABLE 64 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY REGION,
2017–2020 (USD MILLION) 94
TABLE 65 SMART ELEVATOR MARKET FOR INSTITUTIONAL, BY REGION,
2021–2026 (USD MILLION) 95
TABLE 66 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION) 95
TABLE 67 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION) 95
TABLE 68 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN EUROPE,
BY COUNTRY, 2017–2020 (USD MILLION) 95
TABLE 69 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN EUROPE,
BY COUNTRY, 2021–2026 (USD MILLION) 96
TABLE 70 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2017–2020 (USD MILLION) 96
TABLE 71 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2021–2026 (USD MILLION) 96
TABLE 72 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN ROW,
BY REGION, 2017–2020 (USD MILLION) 97
TABLE 73 SMART ELEVATOR MARKET FOR INSTITUTIONAL APPLICATION IN ROW,
BY REGION, 2021–2026 (USD MILLION) 97
7.5 INDUSTRIAL 97
7.5.1 NEED TO INCREASE SAFETY QUOTIENT OF INDUSTRIAL OPERATIONS TO DRIVE DEMAND FOR SMART ELEVATORS 97
TABLE 74 SMART ELEVATOR MARKET FOR INDUSTRIAL, BY SERVICE,
2017–2020 (USD MILLION) 97
TABLE 75 SMART ELEVATOR MARKET FOR INDUSTRIAL, BY SERVICE,
2021–2026 (USD MILLION) 98
TABLE 76 SMART ELEVATOR MARKET FOR INDUSTRIAL, BY REGION,
2017–2020 (USD MILLION) 98
TABLE 77 SMART ELEVATOR MARKET FOR INDUSTRIAL, BY REGION,
2021–2026 (USD MILLION) 98
TABLE 78 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION) 98
TABLE 79 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION) 99
TABLE 80 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN EUROPE,
BY COUNTRY, 2017–2020 (USD MILLION) 99
TABLE 81 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN EUROPE,
BY COUNTRY, 2021–2026 (USD MILLION) 99
TABLE 82 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2017–2020 (USD MILLION) 100
TABLE 83 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN ASIA PACIFIC, BY COUNTRY, 2021–2026 (USD MILLION) 100
TABLE 84 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATION IN ROW,
BY REGION, 2017–2020 (USD MILLION) 100
TABLE 85 SMART ELEVATOR MARKET FOR INDUSTRIAL APPLICATIONS IN ROW,
BY REGION, 2021–2026 (USD MILLION) 101
8 SMART ELEVATOR MARKET, BY SERVICE 102
8.1 INTRODUCTION 103
FIGURE 37 SMART ELEVATOR MARKET, BY SERVICE 103
FIGURE 38 NEW INSTALLATION DOMINATES SMART ELEVATOR MARKET 103
TABLE 86 SMART ELEVATOR MARKET, BY SERVICE, 2017–2020 (USD MILLION) 103
TABLE 87 SMART ELEVATOR MARKET, BY SERVICE, 2021–2026 (USD MILLION) 104
8.2 NEW INSTALLATION 104
8.2.1 NEW CONSTRUCTION ACTIVITIES IN EMERGING ECONOMIES TO BOOST MARKET GROWTH 104
TABLE 88 SMART ELEVATOR MARKET FOR NEW INSTALLATION, BY REGION,
2017–2020 (USD MILLION) 104
TABLE 89 SMART ELEVATOR MARKET FOR NEW INSTALLATION, BY REGION,
2021–2026 (USD MILLION) 105
TABLE 90 SMART ELEVATOR MARKET FOR NEW INSTALLATION, BY APPLICATION, 2017–2020 (USD MILLION) 105
TABLE 91 SMART ELEVATOR MARKET FOR NEW INSTALLATION, BY APPLICATION, 2021–2026 (USD MILLION) 105
8.3 MAINTENANCE 106
8.3.1 INCORPORATION OF ADVANCED TECHNOLOGIES IN MAINTENANCE SOLUTIONS FOR REMOTE MONITORING OF ELEVATORS 106
TABLE 92 SMART ELEVATOR MARKET FOR MAINTENANCE, BY REGION,
2017–2020 (USD MILLION) 106
TABLE 93 SMART ELEVATOR MARKET FOR MAINTENANCE, BY REGION,
2021–2026 (USD MILLION) 106
TABLE 94 SMART ELEVATOR MARKET FOR MAINTENANCE, BY APPLICATION,
2017–2020 (USD MILLION) 106
TABLE 95 SMART ELEVATOR MARKET FOR MAINTENANCE, BY APPLICATION,
2021–2026 (USD MILLION) 107
8.4 RENOVATION 107
8.4.1 IMPLEMENTATION OF SAFETY REGULATIONS IN ELEVATORS TO DRIVE MARKET 107
TABLE 96 SMART ELEVATOR MARKET FOR RENOVATION, BY REGION,
2017–2020 (USD MILLION) 107
TABLE 97 SMART ELEVATOR MARKET FOR RENOVATION, BY REGION,
2021–2026 (USD MILLION) 107
TABLE 98 SMART ELEVATOR MARKET FOR RENOVATION, BY APPLICATION,
2017–2020 (USD MILLION) 108
TABLE 99 SMART ELEVATOR MARKET FOR RENOVATION, BY APPLICATION,
2021–2026 (USD MILLION) 108
9 GEOGRAPHIC ANALYSIS 109
9.1 INTRODUCTION 110
FIGURE 39 SMART ELEVATOR MARKET, BY REGION 110
FIGURE 40 APAC TO LEAD SMART ELEVATOR MARKET 110
TABLE 100 SMART ELEVATOR MARKET, BY REGION, 2017–2020 (USD MILLION) 111
TABLE 101 SMART ELEVATOR MARKET, BY REGION, 2021–2026 (USD MILLION) 111
9.2 NORTH AMERICA 111
FIGURE 41 NORTH AMERICA: SNAPSHOT OF SMART ELEVATOR MARKET 112
TABLE 102 SMART ELEVATOR MARKET IN NORTH AMERICA, BY COUNTRY,
2017–2020 (USD MILLION) 112
TABLE 103 SMART ELEVATOR MARKET IN NORTH AMERICA, BY COUNTRY,
2021–2026 (USD MILLION) 113
TABLE 104 SMART ELEVATOR MARKET IN NORTH AMERICA, BY SERVICE,
2017–2020 (USD MILLION) 113
TABLE 105 SMART ELEVATOR MARKET IN NORTH AMERICA, BY SERVICE,
2021–2026 (USD MILLION) 113
TABLE 106 SMART ELEVATOR MARKET IN NORTH AMERICA, BY APPLICATION,
2017–2020 (USD MILLION) 113
TABLE 107 SMART ELEVATOR MARKET IN NORTH AMERICA, BY APPLICATION,
2021–2026 (USD MILLION) 114
9.2.1 US 114
9.2.1.1 US companies heavily investing in smart building measures 114
TABLE 108 SMART ELEVATOR MARKET IN US, BY APPLICATION,
2017–2020 (USD MILLION) 114
TABLE 109 SMART ELEVATOR MARKET IN US, BY APPLICATION,
2021–2026 (USD MILLION) 115
9.2.2 CANADA 115
9.2.2.1 Investments in residential segment to hold growth opportunities 115
TABLE 110 SMART ELEVATOR MARKET IN CANADA, BY APPLICATION,
2017–2020 (USD MILLION) 115
TABLE 111 SMART ELEVATOR MARKET IN CANADA, BY APPLICATION,
2021–2026 (USD MILLION) 116
9.2.3 MEXICO 116
9.2.3.1 Growth of commercial constructions to accelerate market growth 116
TABLE 112 SMART ELEVATOR MARKET IN MEXICO, BY APPLICATION,
2017–2020 (USD MILLION) 116
TABLE 113 SMART ELEVATOR MARKET IN MEXICO, BY APPLICATION,
2021–2026 (USD MILLION) 117
9.3 EUROPE 117
FIGURE 42 EUROPE: SNAPSHOT OF SMART ELEVATOR MARKET 118
TABLE 114 SMART ELEVATOR MARKET IN EUROPE, BY COUNTRY,
2017–2020 (USD MILLION) 118
TABLE 115 SMART ELEVATOR MARKET IN EUROPE, BY COUNTRY,
2021–2026 (USD MILLION) 119
TABLE 116 SMART ELEVATOR MARKET IN EUROPE, BY SERVICE,
2017–2020 (USD MILLION) 119
TABLE 117 SMART ELEVATOR MARKET IN EUROPE, BY SERVICE,
2021–2026 (USD MILLION) 119
TABLE 118 SMART ELEVATOR MARKET IN EUROPE, BY APPLICATION,
2017–2020 (USD MILLION) 119
TABLE 119 SMART ELEVATOR MARKET IN EUROPE, BY APPLICATION,
2021–2026 (USD MILLION) 120
9.3.1 UK 120
9.3.1.1 Smart city initiatives to reduce carbon footprint 120
TABLE 120 SMART ELEVATOR MARKET IN UK, BY APPLICATION,
2017–2020 (USD MILLION) 120
TABLE 121 SMART ELEVATOR MARKET IN UK, BY APPLICATION,
2021–2026 (USD MILLION) 121
9.3.2 GERMANY 121
9.3.2.1 Germany?dominant market for smart elevators in Europe 121
TABLE 122 SMART ELEVATOR MARKET IN GERMANY, BY APPLICATION,
2017–2020 (USD MILLION) 121
TABLE 123 SMART ELEVATOR MARKET IN GERMANY, BY APPLICATION,
2021–2026 (USD MILLION) 122
9.3.3 FRANCE 122
9.3.3.1 Renovation projects in residential segment to spur growth 122
TABLE 124 SMART ELEVATOR MARKET IN FRANCE, BY APPLICATION,
2017–2020 (USD MILLION) 122
TABLE 125 SMART ELEVATOR MARKET IN FRANCE, BY APPLICATION,
2021–2026 (USD MILLION) 122
9.3.4 ITALY 123
9.3.4.1 Launch of Smart Building Alliance to promote smart buildings 123
TABLE 126 SMART ELEVATOR MARKET IN ITALY, BY APPLICATION,
2017–2020 (USD MILLION) 123
TABLE 127 SMART ELEVATOR MARKET IN ITALY, BY APPLICATION,
2017–2020 (USD MILLION) 123
9.3.5 REST OF EUROPE 123
9.4 APAC 124
FIGURE 43 APAC: SNAPSHOT OF SMART ELEVATOR MARKET 124
TABLE 128 SMART ELEVATOR MARKET IN APAC, BY COUNTRY,
2017–2020 (USD MILLION) 125
TABLE 129 SMART ELEVATOR MARKET IN APAC, BY COUNTRY,
2021–2026 (USD MILLION) 125
TABLE 130 SMART ELEVATOR MARKET IN APAC, BY SERVICE,
2017–2020 (USD MILLION) 125
TABLE 131 SMART ELEVATOR MARKET IN APAC, BY SERVICE,
2021–2026 (USD MILLION) 125
TABLE 132 SMART ELEVATOR MARKET IN APAC, BY APPLICATION,
2017–2020 (USD MILLION) 126
TABLE 133 SMART ELEVATOR MARKET IN APAC, BY APPLICATION,
2021–2026 (USD MILLION) 126
9.4.1 CHINA 126
9.4.1.1 China to continue remaining dominant in APAC smart elevator market 126
TABLE 134 SMART ELEVATOR MARKET IN CHINA, BY APPLICATION,
2017–2020 (USD MILLION) 127
TABLE 135 SMART ELEVATOR MARKET IN CHINA, BY APPLICATION,
2021–2026 (USD MILLION) 127
9.4.2 JAPAN 127
9.4.2.1 Surging adoption of smart technologies 127
TABLE 136 SMART ELEVATOR MARKET IN JAPAN, BY APPLICATION,
2017–2020 (USD MILLION) 127
TABLE 137 SMART ELEVATOR MARKET IN JAPAN, BY APPLICATION,
2021–2026 (USD MILLION) 128
9.4.3 INDIA 128
9.4.3.1 Government initiatives for 100 smart cities to fuel growth 128
TABLE 138 SMART ELEVATOR MARKET IN INDIA, BY APPLICATION,
2017–2020 (USD MILLION) 128
TABLE 139 SMART ELEVATOR MARKET IN INDIA, BY APPLICATION,
2021–2026 (USD MILLION) 128
9.4.4 SOUTH KOREA 129
9.4.4.1 Growing construction industry to offer opportunities for new installation of smart elevators 129
TABLE 140 SMART ELEVATOR MARKET IN SOUTH KOREA, BY APPLICATION,
2017–2020 (USD MILLION) 129
TABLE 141 SMART ELEVATOR MARKET IN AUSTRALIA, BY APPLICATION,
2021–2026 (USD MILLION) 129
9.4.5 REST OF APAC 130
9.4.5.1 Australian government investments for smart cities to boost demand for smart elevators 130
9.5 ROW 130
TABLE 142 SMART ELEVATOR MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION) 130
TABLE 143 SMART ELEVATOR MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION) 130
TABLE 144 SMART ELEVATOR MARKET IN ROW, BY SERVICE, 2017–2020 (USD MILLION) 130
TABLE 145 SMART ELEVATOR MARKET IN ROW, BY SERVICE, 2021–2026 (USD MILLION) 131
TABLE 146 SMART ELEVATOR MARKET IN ROW, BY APPLICATION,
2017–2020 (USD MILLION) 131
TABLE 147 SMART ELEVATOR MARKET IN ROW, BY APPLICATION,
2021–2026 (USD MILLION) 131
9.5.1 MIDDLE EAST & AFRICA 131
TABLE 148 SMART ELEVATOR MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2017–2020 (USD MILLION) 132
TABLE 149 SMART ELEVATOR MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2021–2026 (USD MILLION) 132
9.5.2 SOUTH AMERICA 132
TABLE 150 SMART ELEVATOR MARKET IN SOUTH AMERICA, BY APPLICATION,
2017–2020 (USD MILLION) 132
TABLE 151 SMART ELEVATOR MARKET IN SOUTH AMERICA, BY APPLICATION,
2021–2026 (USD MILLION) 133
10 COMPETITIVE LANDSCAPE 134
10.1 INTRODUCTION 134
10.2 REVENUE ANALYSIS OF TOP 5 COMPANIES 134
FIGURE 44 SMART ELEVATOR MARKET: MARKET SHARE ANALYSIS (2020) 134
10.3 MARKET SHARE ANALYSIS OF TOP 5 PLAYERS, 2020 135
TABLE 152 SMART ELEVATOR MARKET: DEGREE OF COMPETITION 135
10.4 COMPETITIVE EVALUATION QUADRANT, 2020 136
10.4.1 STAR 137
10.4.2 PERVASIVE 137
10.4.3 EMERGING LEADER 137
10.4.4 PARTICIPANT 137
FIGURE 45 SMART ELEVATOR MARKET, COMPANY EVALUATION MATRIX, 2020 138
10.5 STARTUP/SME EVALUATION QUADRANT, 2020 139
10.5.1 PROGRESSIVE COMPANIES 139
10.5.2 RESPONSIVE COMPANIES 139
10.5.3 DYNAMIC COMPANIES 139
10.5.4 STARTING BLOCKS 139
FIGURE 46 SMART ELEVATOR MARKET, STARTUP/SME EVALUATION QUADRANT, 2020 140
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10.6 SMART ELEVATOR MARKET: PRODUCT FOOTPRINT 141
TABLE 153 COMPANY PRODUCT FOOTPRINT 141
TABLE 154 COMPANY REGIONAL FOOTPRINT 142
TABLE 155 COMPANY INDUSTRIAL FOOTPRINT 143
TABLE 156 COMPANY APPLICATION FOOTPRINT 144
10.7 COMPETITIVE SITUATIONS AND TRENDS 145
10.7.1 PRODUCT LAUNCHES 145
TABLE 157 SMART ELEVATOR MARKET: PRODUCT LAUNCHES 145
10.7.2 DEALS 146
TABLE 158 SMART ELEVATOR MARKET: DEALS 146
11 COMPANY PROFILES 147
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 KEY PLAYERS 147
11.1.1 OTIS ELEVATOR 147
TABLE 159 OTIS ELEVATOR: BUSINESS OVERVIEW 147
FIGURE 47 OTIS ELEVATOR: COMPANY SNAPSHOT 148
11.1.2 KONE CORPORATION 150
TABLE 160 KONE CORPORATION: BUSINESS OVERVIEW 150
FIGURE 48 KONE CORPORATION: COMPANY SNAPSHOT 150
11.1.3 SCHINDLER GROUP 153
TABLE 161 SCHINDLER GROUP: BUSINESS OVERVIEW 153
FIGURE 49 SCHINDLER GROUP: COMPANY SNAPSHOT 153
11.1.4 THYSSENKRUPP AG 155
TABLE 162 THYSSENKRUPP AG: BUSINESS OVERVIEW 155
FIGURE 50 THYSSENKRUPP AG: COMPANY SNAPSHOT 155
11.1.5 HITACHI LTD. 158
TABLE 163 HITACHI LTD: BUSINESS OVERVIEW 158
FIGURE 51 HITACHI LTD.: COMPANY SNAPSHOT 158
11.1.6 HYUNDAI ELEVATORS CO., LTD. 161
TABLE 164 HYUNDAI ELEVATORS CO., LTD.: BUSINESS OVERVIEW 161
FIGURE 52 HYUNDAI ELEVATOR CO, LTD.: COMPANY SNAPSHOT 161
11.1.7 MITSUBISHI ELECTRIC CORPORATION 163
TABLE 165 MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW 163
FIGURE 53 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 163
11.1.8 FUJITEC CO., LTD. 165
TABLE 166 FUJITEC CO.LTD: BUSINESS OVERVIEW 165
FIGURE 54 FUJITEC CO., LTD.: COMPANY SNAPS