Albany, NY -- (SBWIRE) -- 02/07/2019 -- The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as "IoT in Elevators Market – Predicted to Expand at a CAGR of 16.1 % during Forecast Period". The fact-based research report on the global IoT in Elevators market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and the Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis of how the metal caps and closures market is expected to develop in the future.

The report includes a detailed value chain analysis and opportunity analysis, which is focused on providing anextensiveview of the global IoT in elevators market. Porter's Five Forces analysisis also provided to understand the competitive scenario in the market. The study incorporates IoT in elevators market attractiveness analysis, in which market segments based on componentsuch as hardware, software, and services are benchmarked based on their market size, growth rate, and attractiveness in terms of opportunity.In order to provide a complete analysis of the overall competitive scenario in the IoT in elevators market, attractiveness analysis of every geographic region mentioned in the reporthas been provided.

In recent times, many technological advancements have taken place in the IoT in elevators market. Hotels, hospitals, parking buildings, and the commercial, residential, and industrial sector widely use IoT in elevators. Therefore, the IoT in elevators market is expected to expand at a rapid pace in the coming years. Growing need to adopt new IT solutions with modern consumer trends across the world is driving demand for IoT in elevators. This is anticipated to drive the market over the forecast period. Moreover, increasing demand for safe and power efficient technologies from the construction industry is expected to fuel the growth of the market in the near future. However, high initial investment is anticipated to hinder the growth of the market across the world. The IoT in elevators market is likely to reach a value of US$ 50.76 Bn by 2026 from US$ 13.49Bn in 2017, expanding at a CAGR of 16.1% during the forecast period.

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An overview of the IoT in elevators market detailing key trends and dynamics has been included to providea clear understanding of market driving forces. The dynamics include impact analysis of market drivers, restraining factors, and opportunities of the IoT in elevators market. Additionally, the report provides analysis of business strategies adopted by market leaders in the IoT in elevators market. Trends and services related to IoT in elevator systems along with their applications have also been explained in the report.

The study provides a decisive view of the global IoT in elevators market, broadly segmentedbased on componentinto hardware, software, and services; based on application into preventive maintenance, remote monitoring, advanced reporting, connectivity management, and others; and in terms of end-user into residential, commercial, and industrial. Further, the report provides a detailed breakdown of the IoT in elevators market across geographic regions, which include North America, Europe, Asia Pacific, Middle East & Africa, and South America, thus providing valuable insights at the micro and macro levels.

The report highlights the competitive scenario within the IoT in elevators market, ranking all the major players according to key recent developmentsand their geographic presence. The insights into the IoT in elevators market are a result of our extensive primary interviews, secondary research, and in-house expert panel reviews. Thesemarket estimates have been analyzed byconsidering the impact of differenteconomic, political, social, legal,and technological factors.

The market in North America has been segmented into the U.S., Canada, and Rest of North America. Furthermore, the market in Europe has been analyzed across France, Germany, the U.K., and Rest of Europe. The IoT in elevators market in Asia Pacific has been segmented at country level into China, Japan, India, and Rest of Asia Pacific. The Middle East & Africa region covers GCC countries, South Africa, and Rest of Middle East & Africa. Similarly, South America includes Brazil and Rest of South America. This report provides all the strategic information required to understand the IoT in elevators market along with component, application, and end-user.

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and industry white papers are usually referred to for developing a preliminary understanding of the market.

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the IoT in elevators market across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to obtain the latest market insights and validate existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape,growth trends, etc. These factors help validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.

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Global IoT in Elevators Market: Competitive Dynamics

The research study includes profiles of major companies operating in the global IoT in elevators market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as investment and spending and developments by major players of the market are tracked. Some of the key players in the IoT in elevators market are ThyssenKrupp AG, KONE Corporation, Otis Elevator Company,Schindler Group, Mitsubishi Electric Corporation, and Toshiba Elevatorsamong others.

The IoT in elevators market has been segmented as follows:

Global IoT in Elevators Market

By Component

Hardware(M2M Gateway/Elevator Gateway)

Software

On-premise

Cloud

Services

Designing & Engineering

Installation

Refurbishing

Maintenance & Repair

Managed Services

By Application

Preventive Maintenance

Remote Monitoring

Advanced Reporting

Connectivity Management

Others (Call Management)

By End-user

Residential

Commercial

Industrial

By Geography

North America

The U.S.

Canada

Rest of North America

Europe

Germany

The U.K.

France

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia Pacific

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East & Africa

South America

Brazil

Rest of South America

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