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Feb, 06 2020

IoT in Elevators Market to Witness High Demand Due to Increasing Demand for Connected Solutions

IoT in Elevators Market is forecasted to grow at 17.45% for 2020 to 2027 to an estimated value of with factors such as high investment cost and increasing concern associated with elevator downtime due to integration of IoT is expected to hamper the market growth.

IoT in elevators market has shown a significant adoption rate and preferences from the North- America. This is due to the technological advancement related to the IoT which is expected to enhance the market growth in the region.

IoT in Elevators Market Scenario

According to Data Bridge Market Research the IoT in elevators market in developing regions is witnessing a growth in terms of its adoption rate, due to growing demand for the connected solutions, rising number of high- rise buildings, increasing prevalence of elevator remote monitoring systems in smart elevators and increasing urbanization.

Now the question is which are the regions that IoT in elevators market players should target? Data Bridge Market Research has forecasted market leaders to target North America and Europe developing regions to help them in attaining better volume of revenue generation.

IoT in elevators market is becoming more competitive every year with remote monitoring currently being the largest market application for the forecasted period of 2020 to 2027. Data Bridge Market Research’s new report highlights the major growth factors and opportunities in the IoT in elevators market.

For more analysis on the IoT in elevators market, request for a briefing with our analysts

IoT in Elevators Market Development

KONE announced the launch of the KONE CareTM 24x7 Connected Services in September 2019 along with the IBM Watson. It is integrated with the IBM's advanced analytics engine which will help the company to offer better services to their customer. It also offers 24X7 connected services so that they can keep track that there should be less faults and equipment downtime.

Scope of the IoT in Elevators Market

IoT in elevators market is segmented on the basis of countries into U.S., Canada, Mexico in North America, Brazil, Argentina, Rest of South America in South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa in Middle East & Africa.

  • All country based analysis of the IoT in elevators market is further analyzed based on maximum granularity into further segmentation. On the basis of component, the IoT in elevators market is segmented into services, software and hardware. Services segment is divided into managed services, maintenance & repair, refurbishing, installation, and designing & engineering. Based on application, the IoT in elevators market is segmented into connectivity management, advanced reporting, remote monitoring, preventive maintenance and others. End- users segment of the IoT in elevators market is segmented into industrial, commercial, and residential.
  • IoT in elevator is very effective as they are making the maintenance very easy, less labor extensive and cost effective. By integrating the IoT in elevator one can also enhance the safety and improve the performance as well. They have the ability to perform various applications such as advanced reporting, connectivity management, preventive maintenance, remote monitoring and others. This also allows the elevator to make all the necessary actions during the maintenance issues and can also identify problems.

To know more about the study

Key Pointers Covered in the IoT in Elevators Market Industry Trends and Forecast to 2025

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the Report

  • Toshiba Elevator and Building Systems Corporation
  • Mitsubishi Electric Corporation
  • Schindler
  • Otis Elevator Company
  • Kone
  • Robustel
  • Omega Elevators
  • Telefónica S.A.
  • Huawei Technologies Co., Ltd.
  • ThyssenKrupp AG
  • Hitachi Ltd.
  • Liftinzicht
  • Datahoist.
  • Robustel

Above are the key players covered in the report, to know about more and exhaustive list of IoT in elevators companies, contact us

Research Methodology: Global IoT in Elevators Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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