Elevators Market Getting ‘Smart’, Increasing Reach & Depth

Global elevators market is seeing skyrocketing technological advancements to meet the demands from aging population as well as ever-growing urban demographics led by security. The elevator industry is dominated by top players like ThyssenKrupp, Kone, Otis and Schindler Group. With a certain age group population having less time and the other aging fast enough, majority of the urbanized society has demands that need the elevator industry players to up their game every other day. Buildings are growing ‘taller’, which requires the elevators to occupy less space and yet fulfil the handling capacity requirements of these densely populated buildings. Energy efficiency, more inside space and less outer space utilization, comfort, smoother movement are some of the other factors pushing the elevators market to innovate consistently. Newer avenues being explored by leaders in elevator industry include usage of their systems at places like London underground network, where millions of passengers need elevators to support their daily travel. ThyssenKrupp is exploring the usage of its high-tech elevator system utilizing rope-less linear motors on this network to see if they can help with time saving for travellers. The objective is to explore options that help deepen the mobility reach via their systems on such networks. This shows, growth and development of elevators market is not limited by an to construction industry that needs elevators for new and under-renovation buildings - commercial as well as residential. The urge to improve efficiency of elevator systems and/or existing infrastructure nodes can give a whole new avenue to usage and development of elevators. Huawei is now targeting the elevator business with an objective of reducing maintenance costs as well as lowering human dependency in the maintenance process, to the extent possible. In collaboration with Schindler Group, another leader in the elevators industry, Huawei is coming up with a ‘smart elevator’ solution that boasts of sensors to keep an elevator ‘connected’. Integration of technologies like IoT, cloud and edge computing, software defined networking and predictive analytics is projected to help reduce maintenance costs by around 50%, which is huge! These connected and smart elevators also hope to ‘proactively’ predict faults, which may be another advantage in terms of preventing or at least lowering number of tragedies that happen in or around elevators. Latest intelligence offering on elevator market available with eMarketOrg.com is titled Assessment Of The Middle East, Africa & India Elevator Market 2016. A 45 pages study, this report says demand from China and Asia is expected to grow strongly through 2017. MENA region will witness installation of close to 700,000 new elevator units by 2018. High growth in the elevator market is expected from new construction in Middle East with sustained elevator demand in Dubai and Abu Dhabi new demand emerging from Jeddah. The elevator market size in India was approximately 52,600 units in 2013 and is projected to grow to more than 100,000 by 2020. The Initiatives and performance of key players including Otis Elevator Company, Schindler Group, KONE, ThyssenKrupp AG, Mitsubishi Electric Corp., Hyundai Elevator Co. Ltd and Toshiba Elevator and Building Systems Corp. has been presented in this research available at http://emarketorg.com/pro/assessment-of-the-middle-east-africa-india-elevator-market-2016/ .