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According to a new report, North America Smart Elevators Market, published by KBV Research, the North America Smart Elevators Market is expected to grow at a CAGR of 10.9% during 2016 -2022. The U.S market dominated the North America Smart Elevators Market in 2015, and would grow at a CAGR of 10.2% during the forecast period. The Canada market is expected to attain a market size of $1,335.3 million by 2022.
However, Mexico market is expected to grow at CAGR of 12.4% during 2016-2022. The New Deployment market contributed the larger revenue share to North America Smart Elevators Market in 2015, and would grow at a CAGR of 13.5% during the forecast period. However, Maintenance market is expected to grow at CAGR of 25% during 2016-2022. The report highlights the adoption of Smart Elevators market in North America. 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 U.S, Canada, Mexico and Rest of North America. 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.