Smart Elevator Market Size, Share, Trends | Report 2028

According to IMARC Group’s latest report, titled “Smart Elevator Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global smart elevator market size reached US$ 25.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.2 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.

A smart elevator comprises new-age digital security system controls, including biometrics,  touch screens, destination dispatching, and access control systems. It enables automated vertical transportation of commuters and goods from one floor to another within a building. It is faster and reliable and assists in improving the operational efficiency and safety of the elevator while reducing energy costs as compared to the conventionally used elevator. It offers advanced controls, hardware, software, and other components, such as alternating current (AC) motors and low-heat light-emitting diode (LED) lighting solutions, which are more efficient and save energy. It can be programmed to adopt different operating modes at different times of the day and can recognize the user through keycards, which include destination and permissions information. It is ultra-sleek and modern and provides a smooth riding experience. At present, several key players are focusing on delivering customization in smart elevator systems to offer an experience that meets the need of the building and users.

Request Free Sample Report: https://www.imarcgroup.com/smart-elevator-market/requestsample

Market Trends:

The increasing requirement for advanced and aesthetically appealing elevators represents one of the major factors positively influencing the demand for smart elevators around the world. The rising demand for energy-efficient solutions on account of the growing concerns about energy consumption is also contributing to the market growth. Moreover, the increasing renovation and remodeling activities of elevators in residential, commercial, and industrial spaces are contributing to the market growth. Rapid urbanization, expanding global and working population, and rising investments in the development of smart cities by governments of numerous countries are also creating a positive outlook for the market. In addition, the expanding number of offices, shopping malls, airports, hospitals, buildings, and hotels is catalyzing the demand for smart elevators to improve safety and comfort. Besides this, the escalating demand for efficient mobility systems on account of the rising high-rise buildings is providing a thrust to the market growth. Apart from this, there is a rise in the integration of predictive maintenance, big data analytics, Internet of Things (IoT), artificial intelligence (AI), Bluetooth, Wi-Fi, and long-term evolution (LTE) in smart elevators. These technologies assist in diagnosing problems from a remote location, providing emergency responses, and enhancing safety. Along with this, the emerging adoption of a new permanent magnet synchronous (PMS) gearless traction machine that utilizes less energy is also offering lucrative growth opportunities to market players operating in the industry. Additionally, significant improvements in existing infrastructural development and extensive research and development (R&D) activities by key players are projected to impel the market growth.

Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/smart-elevator-market

List of Key Companies Covered in this Market Report:

The report has segmented the market on the basis of solution, application and geography.

Breakup by Solution:

Breakup by Application:

Breakup by Geography:

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

30 N Gould St Ste R

Sheridan, WY 82801 USA – Wyoming

Email: Sales@imarcgroup.com

Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800