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Smart Elevators Market by Solutions (New Deployments, Elevator Modernization, Maintenance) and Applications (Residential, Commercial, Industrial, Institutional, Others) - Global Opportunity Analysis and Industry Forecast, 2013 - 2020

CO 14247
Pages: 132
Nov 2014 | 4354 Views
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Author's : Bryan Olson
Tables: 28
Charts: 36
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Smart Elevators Market Overview:

Smart Elevators Market was valued at $9.73 Million and it is expected to garner $23.16 Million by 2020, registering a CAGR of 13.8% during the forecast period 2014 - 2020. 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. 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 smart elevators market growth.

The smart elevators market is in developing phase of its product life cycle. This market is in its early stage of development and is already contributing a good deal of revenue to the overall elevator industry. The smart elevators are found to be a crucial element in commercial, residential, institutional and other applications. The commercial usage of smart elevators itself contributes over one third of the overall market revenue. The usage in institutional buildings would also grow rapidly over the period.

Segment Overview:

The Global smart elevators market is segmented on the basis of solution, applications, and geography. The market has been further bifurcated into different solutions of elevator namely, new deployments, elevator modernization and maintenance. The segment elevator modernization dominates the global market and new deployments is expected to grow by the forecast period owing to advanced security automation and access control systems. Based on applications, the market is segmented in residential, commercial, industrial, institutional, and others. The segment commercial application dominates the global market owing to high waiting time in corridors for accessing elevator car.

The smart elevators market is segmented on the basis of geographical regions, encompassing North America, Europe, Asia-Pacific and LAMEA. North America accounted for the largest share of the global market, owing to increasing demand for energy-efficient and enhanced global economy. However, Asia-Pacific would be the fastest growing region due to increase in population.

Top Factors Impacting Global Smart Elevators Market

The Global smart elevators market is influenced by numerous factors including demand for energy efficient solutions, advanced security automation and access control systems, rising spending capabilities for construction and global economic improvement. These factors collectively create opportunities for the market growth, whereas some of them hamper the smart elevators market growth. However, each factor would have its definite impact on the market during the forecast period.

Advanced Security Automation and Access Control Systems

Elevators being primary mode of vertical transportations amongst individuals, security in such automated systems are the biggest concern. Therefore, the required security measures are taken by the builders of the commercial and residential complexes in order to safeguard their customers/ individuals/ residents/ employees.  However, security has become an integrated feature of any building. Moreover, iris recognition, biometrics are some of the advanced features that are used in order to mitigate the security concerns. Smart elevators use these security systems and provide stringent security to the buildings. Moreover, in the current business scenario, these security measures are positively affecting the smart elevators market and would have large impact on market in near future.

Minimum Waiting Time

Waiting time in front of elevators is a biggest concern amongst the passengers in residential, commercial building or in an emergency case in hospitals. The low waiting times for the elevators add to the customer experience in any building. The integration of access control systems and destination dispatching technology manages the traffic flow in a building with minimum waiting time. It directs the passengers who want to go to a certain floor in the building to specific elevator, which minimizes waiting time. Therefore, reduced waiting time is increasing the use of smart elevators in all sectors and is fueling the growth of smart elevators market.

Large Initial Investments

Installation of smart elevators requires high initial investment. The automated access control systems and security systems that are integrated in the smart elevators increases the total cost of smart elevators as compared to the conventional elevators. This restricts the use of smart elevators in the low or mid-rise apartments or buildings. Although modernization is an alternative to reduce the cost of building, it only adds automations, security and other features to the existing elevator systems. However, modernization is only possible in the buildings where elevators are already available. This does not provide a complete smart elevator system. Therefore, high costs are negatively affecting the growth of smart elevators market.  

Top Winning Strategies

The smart elevators market is largely driven by product launch strategy. The information about the market players and their strategic moves are gathered through the press releases of respective companies, various blogs, which is limited to the available information on the websites and primary calls to the experts in the smart elevators industry.

Key Benefits:

  • The report provides a comprehensive analysis of the smart elevator market with current trends and future growth opportunities, challenges, and competitive scenario.
  • The current market trends are quantitatively analyzed and estimated for the period 20132020, which have been provided to highlight the financial competency of the market.
  • Porter’s five forces analysis provides inputs on the potential of buyers and suppliers and highlights the competitive structure of the market, which is likely to enable market players to devise effective growth strategies and facilitate better decision-making.
  • Value chain analysis provides key inputs on the role of different stakeholders involved at various stages.
  • SWOT analysis of the key market players highlights the essential strengths and potential opportunities in the market.

Smart Elevators Market Key Segment:

By Solutions

  • Elevator Access Control & Security
  • Elevator Automation
  • Elevator Modernization
  • Maintenance

By Applications

  • Residential
  • Commercial
  • Industrial
  • Institutional
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Key Players

  • Schindler Holding AG
  • Honeywell International Inc.
  • Otis Elevator Corporation
  • Hyundai Elevator Co. Ltd.
  • Mitsubishi Electric Corporation
  • KONE Elevators Co. Ltd.
  • ThyssenKrupp
  • Fujitec
  • Bosch Security Systems
  • Hitachi Ltd
 

Chapter: 1 INTRODUCTION

1.1 Report Description
1.2 Reason for doing the study
1.3 Key benefits
1.4 Key Market Segments
1.5 Key Audiences
1.6 Research methodology

1.6.1 Secondary research
1.6.2 Primary research
1.6.3 Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1 CXO perspectives
2.2 Executive Summary
2.3 Market Beyond: what to expect by 2025

2.3.1 Moderate growth scenario
2.3.1 Rapid growth scenario
2.3.2 Diminishing growth scenario

Chapter: 3 MARKET OVERVIEW

3.1 Market Definition and Scope
3.2 Key Findings

3.2.1 Top factors impacting the global smart elevators market

3.2.1.1 Demand for energy efficient solutions
3.2.1.2 Advanced security automation and access control systems
3.2.1.3 Rising spending capabilities for construction
3.2.1.4 Global economic improvement
3.2.1.5 Minimum waiting time
3.2.1.6 Regulatory policies
3.2.1.7 Large Initial Investments

3.2.2 Top winning strategies
3.2.3 Top investment pockets

3.3 Porters Five Force Analysis

3.3.1 Concentrated buyers and lower switching cost lowers the bargaining power of the suppliers
3.3.2 Infancy in the market leads to moderate bargaining power of buyers
3.3.3 As the smart elevators technology is the latest technology, there is no threat of substitute
3.3.4 Brand loyalty and huge initial investment restricts easy access of new entrants
3.3.5 Oligopolistic environment moderates rivalry

3.4 Value chain analysis

3.4.1 Component manufacturer
3.4.2 System Integrators and Distributors
3.4.3 Building owner/ Construction companies

3.5 Market Share Analysis 2013
3.6 Case studies
3.7 Market Dynamics

3.7.1 Drivers

3.7.1.1 Growing demand for energy-efficient solutions
3.7.1.2 Enhanced security via automation and access controls
3.7.1.3 Increased spending in construction
3.7.1.4 Improving global economies
3.7.1.5 Reducing the wait time
3.7.1.6 Stringent regulations and need to reduce operational cost

3.7.2 Restraint

3.7.2.1 Huge investments

3.7.3 Opportunities

3.7.3.1 Regulations and standards regarding energy saving and efficiency
3.7.3.2 Upgrading of existing elevators

3.8 Cross industry impact

3.8.1 Efficient communication technologies
3.8.2 Artificial Intelligence

Chapter: 4 GLOBAL SMART ELEVATOR MARKET BY SOLUTION

4.1 New Deployments

4.1.1 Elevator Access Control & Security

4.1.1.1 key market trends
4.1.1.2 competitive scenario
4.1.1.3 key growth factors and opportunities
4.1.1.4 Market size & forecast
4.1.1.5 card based systems
4.1.1.6 keypad based systems
4.1.1.7 security controls
4.1.1.8 fire alarm system

4.1.2 Elevator Automation

4.1.2.1 key market trends
4.1.2.2 competitive scenario
4.1.2.3 key growth factors & opportunities
4.1.2.4 market size & forecast
4.1.2.5 sensors
4.1.2.6 controllers
4.1.2.7 communication algorithms

4.2 Elevator Modernization

4.2.1 Key market trends
4.2.2 Competitive scenario
4.2.3 Key market drivers & opportunities
4.2.4 Market size and forecast
4.2.5 Operating panels
4.2.6 Other electronics equipment
4.2.7 Automated control

4.3 Maintenance

Chapter: 5 GLOBAL SMART ELEVATORS MARKET BY APPLICATION

5.1 Residential

5.1.1 Market Size and Forecast

5.2 Commercial

5.2.1 Market Size and Forecast

5.3 Industrial

5.3.1 Market Size and Forecast

5.4 Institutional

5.4.1 Market Size and Forecast

5.5 Others

5.5.1 Market Size and Forecast

Chapter: 6 GLOBAL SMART ELEVATOR MARKET BY GEOGRAPHY

6.1 North America

6.1.1 Key market trends
6.1.2 Competitive scenario
6.1.3 Key growth factors and opportunities
6.1.4 Market Size and Forecast

6.2 Europe

6.2.1 Key market trends
6.2.2 Competitive scenario
6.2.3 Key growth factors and opportunities
6.2.4 Market Size and Forecast

6.3 Asia-Pacific

6.3.1 Key market trends
6.3.2 Competitive scenario
6.3.3 Key growth factors and opportunities
6.3.4 Market Size and Forecast

6.4 LAMEA

6.4.1 Key market trends
6.4.2 Competitive scenario
6.4.3 Key growth factors and opportunities
6.4.4 Market Size and Forecast

Chapter: 7 COMPANY PROFILES

7.1 Schindler Holding AG

7.1.1 Schindler Holding AG Overview
7.1.2 Business performance
7.1.3 Key Strategies and developments
7.1.4 SWOT analysis of Schindler Holding AG

7.2 Honeywell International Inc.

7.2.1 Honeywell International Inc. Overview
7.2.2 Business performance
7.2.3 SWOT analysis of Honeywell International Incorporation

7.3 Otis Elevator Corporation

7.3.1 Otis Elevator Corporation Overview
7.3.2 Business performance
7.3.3 Key Strategies and developments
7.3.4 SWOT analysis of Otis Elevator

7.4 Hyundai Elevator Co. Ltd.

7.4.1 Hyundai Elevator Co. Ltd. Overview
7.4.2 Business performance
7.4.3 Key Strategies and developments
7.4.4 SWOT analysis of Hyundai Elevators

7.5 Mitsubishi Electric Corporation

7.5.1 Mitsubishi Electric Corporation Overview
7.5.2 Business performance
7.5.3 Key Strategies and developments
7.5.4 SWOT analysis of Mitsubishi Electric Corporation

7.6 KONE Elevators Co. Ltd.

7.6.1 KONE Elevators Co. Ltd. Overview
7.6.2 Business performance
7.6.3 Key Strategies and developments
7.6.4 SWOT analysis of KONE Elevators

7.7 ThyssenKrupp

7.7.1 ThyssenKrupp  Overview
7.7.2 Business performance
7.7.3 Key Strategies and developments
7.7.4 SWOT analysis of ThyssenKrupp

7.8 Fujitec

7.8.1 Fujitec Overview
7.8.2 Business performance
7.8.3 Key Strategies and developments
7.8.4 SWOT analysis of Fujitec

7.9 Bosch Security Systems

7.9.1 Bosch Security Systems Overview
7.9.2 Business performance
7.9.3 Key Strategies and developments
7.9.4 SWOT analysis of Bosch Security Systems

7.10 Hitachi Ltd.

7.10.1 Hitachi Ltd Systems Overview
7.10.2 Business performance
7.10.3 Key Strategies and developments
7.10.4 SWOT analysis of Hitachi Ltd.

LIST OF TABLES

TABLE 1  GLOBAL SMART ELEVATOR MARKET REVENUE BY GEOGRAPHY,2013-2020 ($ MILLION)
TABLE 2  SMART ELEVATORS MARKET MODERATE GROWTH SCENARIO REVENUE BY GEOGRAPHY, 2020 – 2025 ($MILLION)
TABLE 3  SMART ELEVATORS MARKET RAPID GROWTH  SCENARIO REVENUE BY GEOGRAPHY, 2020 – 2025 ($MILLION)
TABLE 4  SMART ELEVATORS MARKET CRITICAL GROWTH  SCENARIO REVENUE BY GEOGRAPHY, 2020 – 2025 ($MILLION)
TABLE 5  GLOBAL SMART ELEVATOR MARKET REVENUE BY SOLUTION, 2013-2020 ($ MILLION)
TABLE 6  GLOBAL SMART ELEVATOR MARKET REVENUE BY NEW DEPLOYMENT, 2013-2020 ($ MILLION)
TABLE 7  GLOBAL SMART ELEVATOR ACCESS CONTROL & SECUIRTY MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 8  GLOBAL SMART ELEVATOR AUTOMATION MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 9  GLOBAL SMART ELEVATOR MODERNIZATION MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 10  GLOBAL SMART ELEVATOR MARKET REVENUE BY APPLICATION, 2013-2020 ($ MILLION)
TABLE 11  GLOBAL ENERGY CONSUMPTION ESTIMATED FOR RESIDENTIAL SECTOR, 2012 (FOR COMMON UTILITIES ONLY)
TABLE 12  ANNUAL REMODELING RATE IN US (2014)
TABLE 13  GLOBAL SMART ELEVATOR RESIDENTAL MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 14  U.S SHARE OF ELECTRIC ENERGY BY SECTOR IN PERCENTAGE, 2012
TABLE 15  U.S NUMBER OF COMMERCIAL BUILDINGS (MILLIONS UNITS) VS TOTAL COMMERCIAL FLOOR SPACE (BILLION SQUARE FEET), 2012
TABLE 16  GLOBAL SMART ELEVATOR COMMERCIAL MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 17  GLOBAL SMART ELEVATOR INDUSTRIAL MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 18  IMPACT OF AN ELEVATOR’S ENERGY CONSUMPTION ON ENVIRONMENT IN LIFE CYCLE OF ELEVATOR
TABLE 19  GLOBAL SMART ELEVATOR INSTITUTIONAL MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 20  GLOBAL SMART ELEVATOR OTHER APPLICATIONS MARKET REVENUE BY GEOGRAPHY, 2013-2020 ($ MILLION)
TABLE 21  NORTH AMERICA SMART ELEVATOR MARKET REVENUE BY APPLICATIONS, 2013-2020 ($ MILLION)
TABLE 22  THE TABLE DENOTES THE REVENUE GENERATED FORM MODERNIZATION OF ESCALATORS IN THE EUROPEAN REGION
TABLE 23  POPULATION GROWTH ESTIMATION IN URBAN AREA FOR EUROPE FROM 1950 TO 2030
TABLE 24  EUROPE SMART ELEVATOR MARKET REVENUE BY APPLICATIONS, 2013-2020 ($ MILLION)
TABLE 25  POPULATION GROWTH ESTIMATION IN URBAN AREA FOR ASIA FROM 1950 TO 2030
TABLE 26  ASIA PACIFIC SMART ELEVATOR MARKET REVENUE BY APPLICATIONS, 2013-2020 ($ MILLION)
TABLE 27  LAMEA SMART ELEVATOR MARKET REVENUE BY APPLICATIONS, 2013-2020 ($ MILLION)
TABLE 28  SCHINDLER HOLDING AG SNAPSHOT
TABLE 29  HONEYWELL INTERNATIONAL INC SNAPSHOT
TABLE 30  OTIS ELEVATOR CORPORATION SNAPSHOT
TABLE 31  HYUNDAI ELEVATOR CO. LTD. SNAPSHOT
TABLE 32  MITSUBISHI ELECTRIC CORPORATION SNAPSHOT
TABLE 33  KONE ELEVATORS SNAPSHOT
TABLE 34  THYSSENKRUPP AG SNAPSHOT
TABLE 35  FUJITEC SNAPSHOT
TABLE 36  BOSCH SECURITY SYSTEMS SNAPSHOT
TABLE 37  HITACHI LTD SNAPSHOT

LIST OF FIGURES

FIG. 1  TOP IMPACTING FACTORS, MODERATE GROWTH SCENARIO (2020 - 2025)
FIG. 2  TOP IMPACTING FACTORS, RAPID GROWTH SCENARIO (2020 - 2025)
FIG. 3  TOP IMPACTING FACTORS, DIMINISHING GROWTH SCENARIO (2020 - 2025)
FIG. 1  TOP IMPACTING FACTORS
FIG. 2  TOP WINNING STRATEGIES
FIG. 3  TOP WINING STRATEGIES ANALYSIS
FIG. 4  TOP INVESTMENT POCKETS OF SMART ELEVATOR MARKET
FIG. 5  VALUE CHAIN OF SMART ELEVATOR MARKET
FIG. 6  MARKET SHARE ANALYSIS, 2013
FIG. 7  U.S. ELECTRICITY PRICE CHANGE
FIG. 8  ENERGY CONSUMPTION BY APPLICATIONS IN BUILDINGS
FIG. 9  GLOBAL RISE IN SPENDING CAPABILITIES OUT OF TOTAL INCOME IN PERCENTAGE, 2012
FIG. 10  TOTAL TIME SPENT BY OFFICE WORKERS WAITING FOR AN ELEVATOR IN 2010
FIG. 11  KEY FINANCIALS OF SCHINDLER HOLDING AG, 2012-2013 ($ MILLION)
FIG. 12  SWOT ANALYSIS OF SCHINGLER HOLDING AG
FIG. 13  KEY FINANCIALS OF REVENUE GENERATED BY HONEYWELL INTERNATIONAL INCORPORATION 2009-2013 ($ MILLION )
FIG. 14  HONEYWELLL INTERNATIONAL INCORPORATION’S NET SALES IN PERCENTAGE BY SEGMENT, 2013
FIG. 15  SWOT ANALYSIS OF HONEYWELL INTERNATIONAL INCORPORATION
FIG. 16  SWOT ANALYSIS OF OTIS ELEVATOR
FIG. 17  KEY FINANCIALS OF HYUNDAI ELEVATOR CO. LTD. 2011-2013 ($ MILLION)
FIG. 18  SWOT ANALYSIS OF HYUNDAI ELEVATORS
FIG. 19  KEY FINANCIALS OF MITSIBISHI  ELECTRRIC CORPORATION IN $ MILLIONS, 2012-2014 (YEAR END MARCH)
FIG. 20  NET SALES OF MITSUBISHI ELETCRIC CORPORATION IN PERCENTAGE BY SEGMENTS 2014
FIG. 21  SWOT ANALYSIS OF MITSUBISHI ELECTRIC CORPORATION
FIG. 22  KEY FINANCIALS OF KONE ELEVATORS CO. LTD, 2011-2013 ($ MILLION )
FIG. 23  REVENUE GENERATED BY KONE ELEVATORS IN PERCENTAGE BY REGIONS 2013
FIG. 24  SWOT ANALYSIS OF KONE ELEVATORS
FIG. 25  NETSALES OF THYSSENKRUPP IN PERCENTAGE BY SEGMENTS 2013
FIG. 26  SWOT ANALYSIS OF THYSSENKRUPP
FIG. 27  NET SALES OF FUJITEC, 2011-2013 ($ MILLION)
FIG. 28  NET SALES OF FUJITEC IN PERCENTAGE BY REGIONS, 2012
FIG. 29  SWOT ANALYSIS OF FUJITEC
FIG. 30  KEY FINANCIALS OF BOSCH SECURITY SYSTEMS,    2012-2013 ($ MILLIONS)
FIG. 31  SALES OF BOSCH SECURITY SYSTEMS IN PERCENTAGE BY REGIONS, 2013
FIG. 32  SALES OF BOSCH SECURITY SYSTEMS IN PERCENTAGE BY SEGMENTS ,2013
FIG. 33  SWOT ANALYSIS OF BOSCH SECURITY SYSTEMS
FIG. 34  KEY FINANCIALS OF HITACHI, 2011-2013 ($ MILLION)
FIG. 35  REVENUE GENERATED BY HITACHI LTD. IN PERCENTAGE BY REGIONS 2013
FIG. 36  SWOT ANALYSIS OF HITACHI LTD. 

 
 

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