Deerfield Beach, FL -- (SBWIRE) -- 06/06/2016 -- Smart Elevators are advanced systems that allow automated vertical transportation of goods or passengers. As this system utilizes automation, it reduces the waiting time and increases traffic management efficiency in residential, commercial and other buildings. Smart Elevator systems consist of new-age digital security system controls, i.e., biometrics, touch screen, destination dispatching & access control systems, which make them advanced. Since the elevators provide automated features and consume less energy, these elevators are labelled as "Smart Elevators". Moreover, reduced waiting time of passengers, enhanced spending capabilities of customers in emerging markets and overall improvement in global economies are some of the major driving factors for the Smart elevators market. In spite of various advantages and driving factors, substantial initial investment in the installation of smart elevators would limit its presence, which in turn would adversely impact the global market growth.

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Top players in the market are adopting expansion and product launch as major developmental strategies to remain competitive in smart elevator industry. Schindler, for instance, in Feb 2014, launched a new service in North America. This service focus on the fabrication of components such as doors, entrances, and interiors of the elevators. The facility for the consumers will enhance the quality of services to the customers. In addition to this, in May 2013, Otis Elevator, another leading brand, had launched two novel products called CompassPlus Destination Management System and the Skyrise elevator in Paris. The CompassPlus Smart Elevator System helps the customers by reducing their waiting time. Market players are adopting these strategies to expand their global reach, increase their customer base by using new technologically advanced products and improve their services; thereby, penetrating the global smart elevator services across different regions.

The global smart elevators market is segmented on the basis of solutions, applications and geography. Solutions segment provides detailed information on different devices, which are used in smart elevators such as card based systems, biometrics, touch screens and keypads, security and access control systems, visitor management systems, sensors, motor drives and controllers building managements systems and many more. The application segment focuses on residential, commercial, industrial, institutional and others. Further, the market is segmented according to different geographies. The global market is closely examined by conducting research across various geographies such as North America, Europe, Asia Pacific and LAMEA.

KEY BENEFITS

The report provides an overview of the global market, with special reference to market trends, market structure, driving factors, challenges in the industry, scope and opportunities in the smart elevator market

The current and future trends on the global market provides fair idea about smart elevator market and future scope for the market players

Porters Five Forces model is used to analyse the potency of buyers & suppliers and the competitive structure of the market, which would enable market players to develop effective strategies

The segmental study of the global market provides an in-depth analysis of the type of motors, latest technologies in the market and their applications across various geographies

Drivers & opportunities are examined to identify the current factors, which are responsible for the growth of the market and upcoming technologies that would create opportunities for global market

Value chain analysis provides a systematic study of the key intermediaries involved, which would in turn help the stakeholders to formulate appropriate strategies?

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KEY MARKET SEGMENTS

Market by Solutions

New Deployments
Elevator Modernization
Maintenance

Market by Applications

Residential
Commercial
Industrial
Institutional
Others

Market by Geography

North America
Europe
Asia-Pacific
LAMEA

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