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According to a new report, Asia Pacific Smart Elevators Market , published by KBV Research, the Asia Pacific Smart Elevators Market is expected to growing at a CAGR of 20.8% during 2016 -2022. The China market dominated the Asia Pacific Smart Elevators Market in 2015, and would grow at a CAGR of 16.8% during the forecast period.
The Japan market is expected to attain a market size of $1,512.3 million by 2022. However, India market is expected to grow at CAGR of 22.8% during 2016-2022. The New Deployment market contributed the larger share to the Asia Pacific Smart Elevators Market in 2015, thereby grow at a CAGR of 23.6% during the forecast period. The Maintenance market is expected to grow at CAGR of 36.1% during 2016-2022. The report highlights the adoption of Smart Elevators market in Asia Pacific. 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 countries included in the report are China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia Pacific.
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.
The market is segmented based on Solution, Application and Country.