Global Smart Elevator Market To Grow At A CAGR Of 12.7% Between 2017 And 2025

According to a new market report published by Credence Research Inc., “Global Smart Elevator Market(By Service Type (New Purchase & Installation, Upgrade (Modernization), and Maintenance), By End-use Application (Residential, Commercial, Healthcare & Institutional, and Industrial))

According to a new market report published by Credence Research Inc., “Global Smart Elevator Market(By Service Type (New Purchase & Installation, Upgrade (Modernization), and Maintenance), By End-use Application (Residential, Commercial, Healthcare & Institutional, and Industrial)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025”, the global smart elevator market is expected to witness a growth of 12.7% CAGR during the forecast period 2017 - 2025.

Browse the full Global Smart Elevator Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025 report at https://www.credenceresearch.com/report/smart-elevator-market

Market Insights

Smart elevators are emerging as the most effective solution for managing the traffic between the floors of high-rise/multi-storey buildings. Smart elevators represent more secured and energy efficient options as compared to conventional elevators, while simultaneously enabling comparatively faster movement of traffic within a building. According to a study by American Council for an Energy-Efficient Economy, smart elevators have the potential to ensure energy and cost savings by almost 40% as compared to conventional elevators. Smart elevators are equipped with modern security systems including biometrics, touch screen, destination dispatching & access control systems among others. The global smart elevators market is expected to witness strong growth during the forecast period 2017 – 2025 due to flourishing construction and real estate industry post economic recession. Urbanization and rise in the number of new dwelling units in cities has made the real estate sector competitive. Builders are coming up with new projects and are offering automation and smart elevators as a part of amenities.

Moreover, a trend of the construction industry going green can be seen. Over the past few years, the industry has been flooding with sustainable green products. According the U.S. Green Building Council, there were only 2% non-residential green buildings in the U.S. in 2005. However, by 2015 almost half of the non-residential buildings in the country were green. The on-going shift in paradigm towards green buildings is expected create huge opportunities for the smart elevators market.

Although the adoption of smart elevators is increasing steadily in developed economies, replacing the old conventional elevator with the advanced smart elevator is still an expensive proposition. An average cost of replacing conventional elevator with the smart equivalent costs between $60,000 and $250,000 per elevator, depending upon the size of the building. Moreover, smart elevator manufacturers are required to comply with several stringent government mandates and other entry barriers.

Although Asia Pacific trails behind North America and Europe in adoption, improving standard of living, urbanization, growing awareness regarding the benefits offered by smart technologies, and latent potential of the region is expected to make it the most lucrative smart elevators market in the years to come. The entry of international players together with the local vendors is expected to augment market competition, supporting market growth. China, Singapore, Korea and India are major markets and uphold huge growth potential. The governments of these leading countries have been promoting energy efficient solutions in a bid to achieve energy self-sufficiency. For instance, China has drafted plans for developing robust smart grid infrastructure to manage energy consumption wisely. All these factors are collectively expected to drive market demand in Asia Pacific.

The report on global smart elevators market discusses Key players and their strategies. The key players in the smart elevator market are Bosch Security Systems, Hitachi Ltd., Honeywell International Inc., Otis Elevator Company, Mitsubishi Electric Corporation, Kone Corporation, Hyundai Elevator Co. Ltd., Johnson Controls Inc., Schneider Electric SA, Schindler Group, Fujitec Co., Ltd., and ThyssenKrupp Elevator. The key strategies adopted by these players include product innovation and focus on research and development.

To know more insightful information, click here @ https://www.credenceresearch.com/sample-request/58741

Loading...

Comments

No comments to display.

Related posts

Future Growth of Vitamin A Market 2025 Global Analysis By Key Players - DSM, BASF, Zhejiang NHU, Adisseo, Zhejiang Medicine, Kingdomway: SNR

The global average price of Vitamin A is in the decreasing trend, from 26370 USD/MT in 2011 to 24867 USD/MT in 2016. With the situation of global economy, prices will be in decreasing trend in the following five years.

Revenue from the Sales of Lever Lid Cans Market to Increase Exponentially During 2018 - 2028

Lever Lid Cans Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment: 2018 - 2028

Diagnostic Shipper Market to Register Exponential Compound Annual Growth Rate Through 2028

Diagnostic Shipper Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment: 2018 - 2028

Cloud Data Security Solution Market Segmentation and Analysis by Recent Trends, Development and Growth by Regions to 2025

Reportsandmarkets.com has announced the addition of "Cloud Data Security Solution Industry Analysis, Size, Share, Growth, Trends And Forecast 2025" Market Research Report to their Database.

Business Process Management (BPM) Software Industry Analysis, Size, Share, Growth, Trends & Forecast 202525

New Market Research Reports Title "Business Process Management (BPM) Software Market Revenue Opportunities and Various Manufacture Development Analysis by (2018-2025)" Has Been Added to Reportsandmarkets Report Database.

Aliphatic Bromide Market to Reflect Robust Expansion During 2028-2028

Aliphatic bromide refers to a wide category of brominated open chain organic compounds. Aliphatic bromide has a wide range of applications.

Sales of Cotton Bags Market to Increase from Top End-use Industries During the Forecast Period 2018 - 2028

Cotton Bags Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment: 2018 - 2028

Global Artificial Intelligence in Retail Market 2019 | Manufacturers, Regions, Type and Application To 2025

Reportsandmarkets.com has announced the addition of "Artificial Intelligence in Retail Industry Analysis, Size, Share, Growth, Trends And Forecast 2025" Market Research Report to their Database.

Network Forensic Market 2018 by Current & Upcoming Trends

Global Network Forensic Market Research Report Information By Component (Solutions, Services), Deployment (Cloud, On-Premise), Application (Data Center Security, Endpoint Security, Network Security, Application Security) and by Vertical — Forecast till 2023 Market Highlights The network forensic is a part of digital forensic that uses real-time forensic tools for monitoring and analysis of data traffic with for information gathering and intrusion detection to protect the network from the cyberattacks. Rapid advancement in digitalization and innovative technologies in commercial sectors and government stringent rules and regulations against the cyberattack threats are some of the factors which are responsible for the market growth of network forensic market during the forecast period. Get Sample Report @ https://www.marketresearchfuture.com/sample_request/6844 The global network forensic market is expected to reach approximately USD 3.12 Billion by 2023 growing at a ~17.4% CAGR over the forecast period 2018-2023. Key players Some of the global network forensic market includes Viavi Solutions (US), Trustwave Holdings Inc (US), Packet Forensics LLC (US), IBM Corporation (US),Cisco System Inc (US), FireEye Inc (US), Symantec Corporation (US), Corero Network Security (US), LogRhythm (US), Dell Technologies (RSA Security LLC), and AT & T (Alien Vault Inc.) among others. Access Report Details @ https://www.marketresearchfuture.com/reports/network-forensic-market-6844 Regional Analysis The geographical analysis of global network forensic market is analyzed for the regions namely North America, Europe, Asia Pacific, and rest of the world. Among these regions, the market is mostly dominated by North America. Moreover, the region is expected to remain dominant throughout the forecast period in terms of market value and market share due to the presence of IT giants that include IBM Corporation, Cisco systems Inc. TABLE OF CONTENTS 1 Executive Summary 2 Scope Of The Report 2.1 Market Definition 2.2 Scope Of The Study 2.2.1 Research Objectives 2.2.2 Assumptions & Limitations 2.3 Markets Structure 3 Market Research Methodology 3.1 Research Process 3.2 Secondary Research 3.3 Primary Research 3.4 Forecast Model 4 Market Landscape Continued…….. Get More Information @ https://www.marketresearchfuture.com/press-release/network-forensic-market LIST OF FIGURES FIGURE 1 Global Network Forensic Market Segmentation FIGURE 2 Forecast Methodology FIGURE 3 Porter’s Five Forces Analysis Of Global Network Forensic Market FIGURE 4 Value Chain Of Global Network Forensic Market FIGURE 5 Share Of Global Network Forensic Market In 2018, By Country (In %) Continued……..