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The growing trend and need for energy efficiency in buildings is acting as a strong impacting factor for the smart elevator market. Automation and modernization of elevators are therefore gaining attraction in various application sectors for smart elevator. The major factors driving the smart elevator market are the growing demand for energy efficient solutions, enhanced security requirements, increased spending in construction, improving global economies and need to reduce the waiting time. On the other hand, the restraints associated with smart elevators are, the huge investments required to install and maintain these system. The increasing demand for upgrading old elevator systems may serve as an opportunity for the smart elevator market.
The report highlights the adoption of Smart Elevators market in LAMEA (Latin America, Middle East and Africa). Based on the Solution, the Smart Elevators Market is segmented into New Deployment, Modernization and Maintenance segment. The New Deployment segment is further segmented into Elevator Access Control & Security and Elevator Automation sub segments. Based on the applications, the market is bifurcated into Residential, Commercial, Industrial, Institutional and Other segments.
The geographies included in the report are North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Key Players profiled in the report include Hitachi Ltd., Honeywell International, Inc., Schindler Holding AG, Hyundai Elevator Co. Ltd., ThyssenKrupp AG, Fujitec, Bosch Security Systems and Kone Corporation.