Smart Elevator Market Size and Forecast (2021-2031)

Smart Elevator Market Size and Forecast (2021 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Setup (Modernization, Maintenance, and New Deployments), Carriage (Passenger and Freight), Application (Residential, Commercial, and Industrial), and Geography

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Description

The smart elevator market size was valued at US$ 18.70 billion in 2023 and is expected to reach US$ 43.92 billion by 2031; it is anticipated to record a CAGR of 11.3% from 2023 to 2031.

Smart Elevator Market Introduction:

Smart elevators are advanced systems that allow automatic vertical transportation of passengers or goods. These systems use automation, which decreases the waiting time and surges traffic management efficiency in commercial, residential, and other buildings. The growth in building construction, a rise in demand for green buildings, the use of automated systems in smart elevators, progressive features of smart elevators, and growth in the number of high-rise buildings due to rapid development and urbanization boost the global smart elevators market.

Smart Elevator Market Dynamics:

The integration of the digital realm and the Internet of Things (IoT) has observed exponential growth globally. This rise in acceptance can be attributed to the effective application of sensor technology in elevators, which has massively upgraded connectivity. These sensors allow identifying and measuring critical factors such as shaft alignment, door functionality, motor temperature, and cab speed. Consequently, technicians are empowered to detect issues at the primary stage, allowing for swift repairs. Additionally, the integration of in-cab sensors has facilitated the deployment of advanced features such as an automated sleep mode. When activated, this functionality intelligently shuts off lights, ventilation, music, video, and other non-essential services. This enhances energy efficiency and provides a more seamless and enjoyable user experience.

The prices associated with installation, after-sales services, incorporation of automation and security solutions, and timely maintenance hamper the market growth. Furthermore, construction contractors encounter challenges installing such elevators in mid-rise buildings or apartments due to limited project funding. As a result of these factors, the market for smart elevators is anticipated to experience a gradual growth rate in the coming years.

Smart Elevator Market Scope:

The smart elevator market is segmented based on setup, carriage, application, and region. By setup, the market is divided into new deployment, modernization, and maintenance. By carriage, the market is bifurcated into passenger and freight. By application, the market is categorized into residential, commercial, and industrial.

Smart Elevator Market Regional Framework:

The report provides a detailed industry overview, including qualitative and quantitative information. It provides an overview and forecast of the global smart elevator market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 regarding five major regions: North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. The smart elevator market by each region is sub segmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the area. The report analyzes factors affecting the Smart elevator market from both the demand and supply side and further evaluates market dynamics during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The research also provides exhaustive PEST analysis at the global level after evaluating political, economic, social, and technological factors affecting the smart elevator market growth in these regions.

Smart Elevator Market Key Player Analysis:

KONE Corporation, Halma PLC(Avire Trading Limited), Fujitec Co., Ltd., Otis Worldwide Corporation, Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, ThyssenKrupp AG (TK Elevator), Hyundai Elevator Ltd, and Schindler Group, among others. Several other major companies have been analyzed during this research study to get a holistic view of the smart elevator market ecosystem. Prominent players operating in the smart elevator market include companies proactively emphasizing research and development (R&D) initiatives to gain a competitive advantage in the smart elevator market.

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According to our latest study on “Smart Elevator Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Setup, Carriage, Application, And Geography. The smart elevator market size was valued at US$ 18.70 billion in 2023 and is expected to reach US$ 43.92 billion by 2031; it is anticipated to record a CAGR of 11.3% from 2023 to 2031.

Technological Advantages of Smart Elevators over Conventional Elevators to Drive Smart Elevator Market Growth During Forecast Period

Basic computing power of conventional elevators cannot reduce users’ waiting time. Furthermore, they are not energy efficient compared to modern elevators and do not include real-time monitoring of the elevator system. However, smart elevators are technically advanced and have various functions that contribute to their rising preference by building contractors. The usage of autonomous systems in these elevators aids in optimizing elevator actions, which, in turn, helps lessen wait time, eventually leading to more effective passenger transportation during busy hours.

Features of smart elevators such as touch screen interface, voice commands, gesture control, and mobile app controllability make them more user-friendly and enhance the comfort of passengers. Smart elevators send operational data to the cloud in real time, where certified employees can access it anytime and facilitate the timely resolution of any problem. In contrast to traditional elevators, smart elevators use progressive security measures such as facial recognition, biometrics, and other technologies to avoid unauthorized access. Furthermore, these elevators integrate sensors and other systems that continually monitor the irregular behaviour of elevators, which includes excessive vibration, electrical faults, and others.

Further, customers demand innovative and more cutting-edge features from elevator systems as a result of the continuously changing technological landscape. Energy efficiency, space saving, time efficiency, long lasting, affordability, low maintenance, and safety are all benefits for modern elevators. Owing to all the benefits mentioned above, the demand for smart elevators over conventional elevators is increasing.

Key Findings of Smart Elevator Market Study:

The smart elevator market report emphasizes the key factors driving the market and showcases/exhibits/depicts the developments of prominent players. The smart elevator market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. The smart elevator market analysis has been performed by considering the following segments: setup, carriage, application, and geography.

Based on setup, the smart elevator market report is segmented into new deployments, modernization, and maintenance. The new deployment segment held the largest smart elevator market share in 2022. The new deployment segment is expected to grow at significant CAGR during the forecast period. Deployment of smart elevators in the commercial, residential, and other buildings is the process of elevators new installation. The development of smart cities and growth in the industrial sectors are fueling the demand for smart elevators with increasing deployment of novel technology related to increased passengers safety and power consumption reduction. New installation with smart technologies of elevators in the construction buildings is high resulting to hinder the growth of the market.

The Europe Smart Elevator market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Germany held the largest smart elevator market share in 2023. Germany is one of Europe’s principal construction markets and home to the largest share of buildings—industrial-built environments, residential, skyscrapers, or commercial construction. The niche markets, such as green building technologies, prefabricated buildings, and green construction-related components and building materials, are booming in the industry trying to achieve the 2030 Sustainable Development Goals, primarily the climate protection targets. For instance, according to the article published in July 2022, over the next few years, nearly US$ 13–14 billion per year will be assigned to subsidize renovations of old buildings.

Energy-efficient initiatives taken by the German government are also leading to the modernization of elevators that are over 10–15 years old currently and are consuming more energy. Also, the construction of high-rise buildings in the country is increasing, surging the demand for a better and safer elevator system. Furthermore, the rapidly growing construction in the commercial sector, along with factors such as demographic changes, population growth, and favorable economic development, contribute to the growth of the Germany smart elevator market.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the smart elevator market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the smart elevator market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

TABLE OF CONTENTS

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market segment action
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Smart Elevator Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Smart Elevator Market – Key Market Dynamics
5.1 Smart Elevator Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Building Construction Activities
5.2.2 Technological Advantages of Smart Elevators over Conventional Elevators
5.3 Market Restraints
5.3.1 Intense Competition Among Market Players
5.4 Market Opportunities
5.4.1 Growing Vertical Transportation Industry
5.4.2 Increasing Demand for Energy-Efficient Elevators
5.5 Future Trends
5.5.1 Technological Advancements in Elevator Industry
6. Smart Elevator Market – Global Market Analysis
6.1 Smart Elevator Market Revenue (US$ Million), 2023–2031
6.2 Smart Elevator Market Forecast Analysis
7. Smart Elevator Market Analysis – by Carriage
7.1 Passenger
7.1.1 Overview
7.1.2 Passenger: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Freight
7.2.1 Overview
7.2.2 Freight: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
8. Smart Elevator Market Analysis – by Setup
8.1 New Deployments
8.1.1 Overview
8.1.2 New Deployments: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Modernization
8.2.1 Overview
8.2.2 Modernization: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Maintenance
8.3.1 Overview
8.3.2 Maintenance: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
9. Smart Elevator Market Analysis – by Application
9.1 Residential
9.1.1 Overview
9.1.2 Residential: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10. Smart Elevator Market – Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Smart Elevator Market Overview
10.2.2 North America: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 North America: Smart Elevator Market Breakdown, by Carriage
10.2.3.1 North America: Smart Elevator Market – Revenue and Forecast Analysis – by Carriage
10.2.4 North America: Smart Elevator Market Breakdown, by Setup
10.2.4.1 North America: Smart Elevator Market – Revenue and Forecast Analysis – by Setup
10.2.5 North America: Smart Elevator Market Breakdown, by Application
10.2.5.1 North America: Smart Elevator Market – Revenue and Forecast Analysis – by Application
10.2.6 North America: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.2.6.1 North America: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.2.6.2 United States: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.2.1 United States: Smart Elevator Market Breakdown, by Carriage
10.2.6.2.2 United States: Smart Elevator Market Breakdown, by Setup
10.2.6.2.3 United States: Smart Elevator Market Breakdown, by Application
10.2.6.3 Canada: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 Canada: Smart Elevator Market Breakdown, by Carriage
10.2.6.3.2 Canada: Smart Elevator Market Breakdown, by Setup
10.2.6.3.3 Canada: Smart Elevator Market Breakdown, by Application
10.2.6.4 Mexico: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 Mexico: Smart Elevator Market Breakdown, by Carriage
10.2.6.4.2 Mexico: Smart Elevator Market Breakdown, by Setup
10.2.6.4.3 Mexico: Smart Elevator Market Breakdown, by Application
10.3 Europe
10.3.1 Europe Smart Elevator Market Overview
10.3.2 Europe: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 Europe: Smart Elevator Market Breakdown, by Carriage
10.3.3.1 Europe: Smart Elevator Market – Revenue and Forecast Analysis – by Carriage
10.3.4 Europe: Smart Elevator Market Breakdown, by Setup
10.3.4.1 Europe: Smart Elevator Market – Revenue and Forecast Analysis – by Setup
10.3.5 Europe: Smart Elevator Market Breakdown, by Application
10.3.5.1 Europe: Smart Elevator Market – Revenue and Forecast Analysis – by Application
10.3.6 Europe: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.3.6.1 Europe: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.3.6.2 Germany: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.2.1 Germany: Smart Elevator Market Breakdown, by Carriage
10.3.6.2.2 Germany: Smart Elevator Market Breakdown, by Setup
10.3.6.2.3 Germany: Smart Elevator Market Breakdown, by Application
10.3.6.3 United Kingdom: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 United Kingdom: Smart Elevator Market Breakdown, by Carriage
10.3.6.3.2 United Kingdom: Smart Elevator Market Breakdown, by Setup
10.3.6.3.3 United Kingdom: Smart Elevator Market Breakdown, by Application
10.3.6.4 France: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 France: Smart Elevator Market Breakdown, by Carriage
10.3.6.4.2 France: Smart Elevator Market Breakdown, by Setup
10.3.6.4.3 France: Smart Elevator Market Breakdown, by Application
10.3.6.5 Italy: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.5.1 Italy: Smart Elevator Market Breakdown, by Carriage
10.3.6.5.2 Italy: Smart Elevator Market Breakdown, by Setup
10.3.6.5.3 Italy: Smart Elevator Market Breakdown, by Application
10.3.6.6 Russian Federation: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.6.1 Russian Federation: Smart Elevator Market Breakdown, by Carriage
10.3.6.6.2 Russian Federation: Smart Elevator Market Breakdown, by Setup
10.3.6.6.3 Russian Federation: Smart Elevator Market Breakdown, by Application
10.3.6.7 Rest of Europe: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.7.1 Rest of Europe: Smart Elevator Market Breakdown, by Carriage
10.3.6.7.2 Rest of Europe: Smart Elevator Market Breakdown, by Setup
10.3.6.7.3 Rest of Europe: Smart Elevator Market Breakdown, by Application
10.4 Asia Pacific
10.4.1 Asia Pacific Smart Elevator Market Overview
10.4.2 Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific: Smart Elevator Market Breakdown, by Carriage
10.4.3.1 Asia Pacific: Smart Elevator Market – Revenue and Forecast Analysis – by Carriage
10.4.4 Asia Pacific: Smart Elevator Market Breakdown, by Setup
10.4.4.1 Asia Pacific: Smart Elevator Market – Revenue and Forecast Analysis – by Setup
10.4.5 Asia Pacific: Smart Elevator Market Breakdown, by Application
10.4.5.1 Asia Pacific: Smart Elevator Market – Revenue and Forecast Analysis – by Application
10.4.6 Asia Pacific: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.4.6.1 Asia Pacific: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.4.6.2 China: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.2.1 China: Smart Elevator Market Breakdown, by Carriage
10.4.6.2.2 China: Smart Elevator Market Breakdown, by Setup
10.4.6.2.3 China: Smart Elevator Market Breakdown, by Application
10.4.6.3 India: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 India: Smart Elevator Market Breakdown, by Carriage
10.4.6.3.2 India: Smart Elevator Market Breakdown, by Setup
10.4.6.3.3 India: Smart Elevator Market Breakdown, by Application
10.4.6.4 Japan: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 Japan: Smart Elevator Market Breakdown, by Carriage
10.4.6.4.2 Japan: Smart Elevator Market Breakdown, by Setup
10.4.6.4.3 Japan: Smart Elevator Market Breakdown, by Application
10.4.6.5 Australia: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 Australia: Smart Elevator Market Breakdown, by Carriage
10.4.6.5.2 Australia: Smart Elevator Market Breakdown, by Setup
10.4.6.5.3 Australia: Smart Elevator Market Breakdown, by Application
10.4.6.6 South Korea: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 South Korea: Smart Elevator Market Breakdown, by Carriage
10.4.6.6.2 South Korea: Smart Elevator Market Breakdown, by Setup
10.4.6.6.3 South Korea: Smart Elevator Market Breakdown, by Application
10.4.6.7 Rest of APAC: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 Rest of APAC: Smart Elevator Market Breakdown, by Carriage
10.4.6.7.2 Rest of APAC: Smart Elevator Market Breakdown, by Setup
10.4.6.7.3 Rest of APAC: Smart Elevator Market Breakdown, by Application
10.5 Middle East and Africa
10.5.1 Middle East and Africa Smart Elevator Market Overview
10.5.2 Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa: Smart Elevator Market Breakdown, by Carriage
10.5.3.1 Middle East and Africa: Smart Elevator Market – Revenue and Forecast Analysis – by Carriage
10.5.4 Middle East and Africa: Smart Elevator Market Breakdown, by Setup
10.5.4.1 Middle East and Africa: Smart Elevator Market – Revenue and Forecast Analysis – by Setup
10.5.5 Middle East and Africa: Smart Elevator Market Breakdown, by Application
10.5.5.1 Middle East and Africa: Smart Elevator Market – Revenue and Forecast Analysis – by Application
10.5.6 Middle East and Africa: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.5.6.1 Middle East and Africa: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.5.6.2 Saudi Arabia: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.2.1 Saudi Arabia: Smart Elevator Market Breakdown, by Carriage
10.5.6.2.2 Saudi Arabia: Smart Elevator Market Breakdown, by Setup
10.5.6.2.3 Saudi Arabia: Smart Elevator Market Breakdown, by Application
10.5.6.3 United Arab Emirates: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 United Arab Emirates: Smart Elevator Market Breakdown, by Carriage
10.5.6.3.2 United Arab Emirates: Smart Elevator Market Breakdown, by Setup
10.5.6.3.3 United Arab Emirates: Smart Elevator Market Breakdown, by Application
10.5.6.4 South Africa: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 South Africa: Smart Elevator Market Breakdown, by Carriage
10.5.6.4.2 South Africa: Smart Elevator Market Breakdown, by Setup
10.5.6.4.3 South Africa: Smart Elevator Market Breakdown, by Application
10.5.6.5 Rest of Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 Rest of Middle East and Africa: Smart Elevator Market Breakdown, by Carriage
10.5.6.5.2 Rest of Middle East and Africa: Smart Elevator Market Breakdown, by Setup
10.5.6.5.3 Rest of Middle East and Africa: Smart Elevator Market Breakdown, by Application
10.6 South and Central America
10.6.1 South and Central America Smart Elevator Market Overview
10.6.2 South and Central America: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America: Smart Elevator Market Breakdown, by Carriage
10.6.3.1 South and Central America: Smart Elevator Market – Revenue and Forecast Analysis – by Carriage
10.6.4 South and Central America: Smart Elevator Market Breakdown, by Setup
10.6.4.1 South and Central America: Smart Elevator Market – Revenue and Forecast Analysis – by Setup
10.6.5 South and Central America: Smart Elevator Market Breakdown, by Application
10.6.5.1 South and Central America: Smart Elevator Market – Revenue and Forecast Analysis – by Application
10.6.6 South and Central America: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.6.6.1 South and Central America: Smart Elevator Market – Revenue and Forecast Analysis – by Country
10.6.6.2 Brazil: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.2.1 Brazil: Smart Elevator Market Breakdown, by Carriage
10.6.6.2.2 Brazil: Smart Elevator Market Breakdown, by Setup
10.6.6.2.3 Brazil: Smart Elevator Market Breakdown, by Application
10.6.6.3 Argentina: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Argentina: Smart Elevator Market Breakdown, by Carriage
10.6.6.3.2 Argentina: Smart Elevator Market Breakdown, by Setup
10.6.6.3.3 Argentina: Smart Elevator Market Breakdown, by Application
10.6.6.4 Rest of South and Central America: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Rest of South and Central America: Smart Elevator Market Breakdown, by Carriage
10.6.6.4.2 Rest of South and Central America: Smart Elevator Market Breakdown, by Setup
10.6.6.4.3 Rest of South and Central America: Smart Elevator Market Breakdown, by Application
11. Competitive Landscape
11.1 Company Positioning & Concentration
11.2 Heat Map Analysis By Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Fujitec Co Ltd
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Otis Worldwide Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Kone Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Hyundai Elevator Co Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 ThyssenKrupp AG
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Schindler Holding AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Mitsubishi Electric Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Hitachi Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Toshiba Elevator and Building Systems Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Smart Plus Elevator Pvt. Ltd.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Research Team

LIST OF TABLES

Table 1. Smart Elevator Market segmentation
Table 2. List of Vendors
Table 3. Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million) – by Carriage
Table 5. Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million) – by Setup
Table 6. Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 7. North America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 8. North America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 9. North America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 10. North America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 11. United States: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 12. United States: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 13. United States: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 14. Canada: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 15. Canada: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 16. Canada: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 17. Mexico: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 18. Mexico: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 19. Mexico: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 20. Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 21. Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 22. Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 23. Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 24. Germany: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 25. Germany: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 26. Germany: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 27. United Kingdom: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 28. United Kingdom: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 29. United Kingdom: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 30. France: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 31. France: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 32. France: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 33. Italy: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 34. Italy: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 35. Italy: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 36. Russian Federation: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 37. Russian Federation: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 38. Russian Federation: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 39. Rest of Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 40. Rest of Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 41. Rest of Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 42. Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 43. Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 44. Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 45. Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 46. China: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 47. China: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 48. China: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 49. India: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 50. India: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 51. India: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 52. Japan: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 53. Japan: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 54. Japan: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 55. Australia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 56. Australia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 57. Australia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 58. South Korea: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 59. South Korea: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 60. South Korea: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 61. Rest of APAC: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 62. Rest of APAC: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 63. Rest of APAC: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 64. Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 65. Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 66. Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 67. Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 68. Saudi Arabia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 69. Saudi Arabia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 70. Saudi Arabia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 71. United Arab Emirates: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 72. United Arab Emirates: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 73. United Arab Emirates: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 74. South Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 75. South Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 76. South Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 77. Rest of Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 78. Rest of Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 79. Rest of Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 80. South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 81. South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 82. South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 83. South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 84. Brazil: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 85. Brazil: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 86. Brazil: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 87. Argentina: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 88. Argentina: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 89. Argentina: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 90. Rest of South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Carriage
Table 91. Rest of South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Setup
Table 92. Rest of South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 93. Heat Map Analysis By Key Players
Table 94. Heat Map Analysis By Key Players

LIST OF FIGURES

Figure 1. Smart Elevator Market segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Smart Elevator Market Revenue (US$ Million), 2023–2031
Figure 6. Smart Elevator Market Share (%) – by Carriage (2023 and 2031)
Figure 7. Passenger: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Freight: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Smart Elevator Market Share (%) – by Setup (2023 and 2031)
Figure 10. New Deployments: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Modernization: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Maintenance: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Smart Elevator Market Share (%) – by Application (2023 and 2031)
Figure 14. Residential: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Commercial: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Industrial: Smart Elevator Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Smart Elevator Market Breakdown by Region, 2023 and 2031 (%)
Figure 18. North America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. North America: Smart Elevator Market Breakdown, by Carriage (2023 and 2031)
Figure 20. North America: Smart Elevator Market Breakdown, by Setup (2023 and 2031)
Figure 21. North America: Smart Elevator Market Breakdown, by Application (2023 and 2031)
Figure 22. North America: Smart Elevator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 23. United States: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 24. Canada: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 25. Mexico: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 26. Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 27. Europe: Smart Elevator Market Breakdown, by Carriage (2023 and 2031)
Figure 28. Europe: Smart Elevator Market Breakdown, by Setup (2023 and 2031)
Figure 29. Europe: Smart Elevator Market Breakdown, by Application (2023 and 2031)
Figure 30. Europe: Smart Elevator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 31. Germany: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 32. United Kingdom: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 33. France: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 34. Italy: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 35. Russian Federation: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 36. Rest of Europe: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 37. Asia Pacific: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 38. Asia Pacific: Smart Elevator Market Breakdown, by Carriage (2023 and 2031)
Figure 39. Asia Pacific: Smart Elevator Market Breakdown, by Setup (2023 and 2031)
Figure 40. Asia Pacific: Smart Elevator Market Breakdown, by Application (2023 and 2031)
Figure 41. Asia Pacific: Smart Elevator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 42. China: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 43. India: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 44. Japan: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 45. Australia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 46. South Korea: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 47. Rest of APAC: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 48. Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 49. Middle East and Africa: Smart Elevator Market Breakdown, by Carriage (2023 and 2031)
Figure 50. Middle East and Africa: Smart Elevator Market Breakdown, by Setup (2023 and 2031)
Figure 51. Middle East and Africa: Smart Elevator Market Breakdown, by Application (2023 and 2031)
Figure 52. Middle East and Africa: Smart Elevator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 53. Saudi Arabia: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 54. United Arab Emirates: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 55. South Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 56. Rest of Middle East and Africa: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 57. South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 58. South and Central America: Smart Elevator Market Breakdown, by Carriage (2023 and 2031)
Figure 59. South and Central America: Smart Elevator Market Breakdown, by Setup (2023 and 2031)
Figure 60. South and Central America: Smart Elevator Market Breakdown, by Application (2023 and 2031)
Figure 61. South and Central America: Smart Elevator Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 62. Brazil: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 63. Argentina: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)
Figure 64. Rest of South and Central America: Smart Elevator Market – Revenue and Forecast to 2031(US$ Million)

The List of Companies – Smart Elevator Market
o Fujitec Co Ltd
o Otis Worldwide Corp 
o Kone Corp
o Hyundai Elevator Co Ltd
o ThyssenKrupp AG 
o Schindler Holding AG 
o Mitsubishi Electric Corp
o Hitachi Ltd
o Toshiba Elevator and Building Systems Corporation 
o Smart Plus Elevator Pvt. Ltd.

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