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According to a new report, Global Smart Elevators Market, published by KBV Research, the Global Smart Elevators Market is expected to reach $29,126.1 million by 2022, growing at a CAGR of 15% during 2016 -2022. The North America market dominated the Global Smart Elevators Market in 2015, and would grow at a CAGR of 10.9% during the forecast period. The Europe market is expected to become the largest market, globally, attaining a market size of $8,933.5 million by 2022. However, Asia-Pacific market is expected to grow at CAGR of 20.8% during 2016-2022.
The New Deployment market contributed the larger revenue share to the Global Smart Elevators Market in 2015, thereby growing at a CAGR of 17.7% during the forecast period. The Modernization market is expected to become the largest market, globally, by 2022. However, Maintenance market is expected to grow at CAGR of 29.6% during 2016-2022. The report highlights the adoption of Smart Elevators market, globally. 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.
The market is segmented based on Solution, Application and Geography.
LAMEA Smart Elevators Market