ZMR

USD 26.33 Billion expected for Global Smart and Connected Elevators and Elevators Control System Market at 15.3% CAGR by 2022

Press Release   •   Jan 10, 2018 06:37 EST

Zion Market Research has published a new report titled “Smart and Connected Elevators and Elevators Control System Market for Residential, commercial, institutional: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global smart and connected elevators and elevators control system market was valued at approximately USD 11.21 Billion in 2017 and is expected to reach approximately USD 26.33 Billion by 2022, growing at a promising CAGR of around 15.3% between 2016 and 2022.

Request Free Sample Research Report @  https://www.zionmarketresearch.com/sample/smart-connected-elevators-elevators-control-system-market

Smart and connected elevators are mainly used in buildings such as hotels, residences, arenas, offices and airports, hospitals, sports facilities, and others. it can minimize overall energy consumption and manage passenger traffic efficiently within a residential and commercial building. The deployment of automation to the elevator systems can reduce the wait time and increases efficient management of the traffic in buildings.

Businesses need for smart solutions to equip them against threats and safeguard their properties. This will propel the growth of smart and connected elevators. Additionally, the global smart and connected elevators and elevator control systems market will also benefit from the growing demand from consumers for energy-efficient solutions. Smart elevators feature light sensors and other technologies that save energy and improve usability for people with special needs.

Inquire more about this report @ https://www.zionmarketresearch.com/inquiry/smart-connected-elevators-elevators-control-system-market

On the basis of application, the smart and connected elevators market is divided into residential, commercial and institutional. The residential and commercial applications leading this segment owing to increased industrialization and real estate construction sites. Rapid urbanization and growth in elderly population globally combined with the maintenance and modernization of the existing elevators are strongly driving the growth of the global elevators market. The continuous evolution of the Internet of Things has triggered the growth and opportunity in elevators business. Internet of things defines the interconnection of many devices and equipment that help deliver data on the internet. IOT offers service that allows for collecting, exchange and analyzing data with its operator, manufacturer and other devices. With the help of IOT modern elevators can anticipate traffic and also respond in real time. Connected sensors in an elevator, passenger traffic is better managed by reducing wait time.

Browse detail report with in-depth TOC @ https://www.zionmarketresearch.com/report/smart-connected-elevators-elevators-control-system-market

North America was the dominant market for smart elevators market in 2016. High technology adoption rate paired with well-established infrastructure are major driving factors in North America region’s growth. Asia Pacific is anticipated to grow at the highest CAGR for smart elevator market in the analysis period. Rapid infrastructure development, rising consumer disposable income, and the presence of developing economies, rapid urbanization is projected to observe noticeable growth over the analysis period in the Asia Pacific. Latin America and the Middle East is also predicted to grow significantly in coming years due to increasing demand for commercial application.

Key players operating in this market include ThyssenKrupp AG, OTIS Elevator Company, Kone Corporation, Schindler Group, Hitachi Ltd., Hyundai Elevator Co.Ltd., Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation, Fujitec Co., Ltd., Motion Control Engineering, Inc., Thames Valley Controls, Eito&Global Inc.

For Media Inquiry contact our sales Team @ sales@zionmarketresearch.com

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.