The IoT in Elevators Market is expected to grow from US$ 1514.88 million in 2022 to US$ 2022.13 million by 2028.
The migration of people from rural to urban areas is increasing annually across the world. As per the United Nations report published in April 2018 on Sustainable Cities, Human Mobility, and International Migration, the proportion of the world's population living in cities is expected to rise from 55% in 2018 to 60% by 2030. According to the United Nations, 55% of the world's population lives in urban areas, and the percentage is expected to increase to 68% by 2050. According to the United Nations Department of Economic and Social Affairs (UN DESA), an increase in the urban population is expected to be concentrated in India, China, and Nigeria. India accounts for 35% of the projected growth of the world's urban population between 2018 and 2050. During this period, India, China, and Nigeria will have 416 million, 255 million, and 189 million urban dwellers, respectively. Migration of people from rural to urban has made many developing and developed economies governments to invest in new infrastructure projects. Therefore, in the coming years, rising urbanization will increase the demand for IoT in elevators.
With the rapid urbanization, automation, and improving economic conditions worldwide, the global construction industry is experiencing significant growth. Real estate developers and construction companies or project builders are providing automated advanced technology features and functions in their projects due to increased competition. The projects also include elevator automation in smart connected buildings. Modern elevators with IoT capabilities are designed to intelligently respond in real-time, communicate with service teams to resolve technical issues, improve maintenance operations, reduce costs, and allow passengers to summon the elevator via mobile app. The increasing adoption of automation in the construction industry propels the demand for smart and connected elevators. As a result, the IoT in elevators market is witnessing growth. IoT in elevator companies invest significantly in developing their portfolio products and services and coming up with new advanced IoT systems in elevators. On March 10, 2021, KONE Elevator India, a wholly-owned subsidiary of Finland-based KONE Corporation, introduced the world's first digitally connected elevator class, the KONE DX Class Elevators. In addition, on September 04, 2019, KONE, a global leader in the elevator and escalator industry, launched its newest innovation, KONE Care 24x7 Connected Services, in Pune, India, bolstering its position as the industry's innovation leader. IBM Watson, a recognized leader in cognitive computing, collaborated on this project. Such initiatives by the companies in the development of IoT in elevator is accelerating the IoT in elevators market growth.
The IoT in elevators market is segmented based on component, application, and end-user. Based on component, the market is segmented into hardware, software, and services. Based on application, the market is further segmented into preventive maintenance, remote monitoring, fault diagnosis and prediction, advanced reporting, and connectivity management. The IoT in elevators market, by end-user, is segmented into residential, commercial, and industrial. By geography, the IoT in elevators market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Government launched the 'Smart Dubai 2021 Strategy'. The objective of the strategy includes a smart, livable, and resilient city, leveraging ICT innovations, an interconnected society with easily accessible social services, and smooth transport driven by autonomous and shared mobility solutions. In addition, a clean environment is enabled by cutting-edge ICT innovations, and digital, lean, and connected government are the other objectives. Dubai Plan 2021 aims to transform the city into a smart and sustainable one. The Smart City project in Dubai follows a strategy that can transform ~1,000 government services in six key areas - transportation, infrastructure, communications, financial services, urban planning, and electricity. With Saudi Arabia Vision 2030, The Saudi Authority planned to start the smart city project in 10 cities, including Makkah, Riyadh, Jeddah, AI-Madinah, and AI-Ahsa. On January 10, 2021, Crown Prince and Chairman of the NEOM Company announced THE LINE AT NEOM, in which the government is investing US$ 500 million to build 170km smart cities. The smart city is a linear development of hyper-connected AI-enabled communities powered by 100% clean energy. Thus, such governments initiatives for developing smart cities are bolstering the IoT in elevators market growth.
As per International Energy Agency (IEA), with the economic recovery, the global electricity demand is expected to grow by 4% in 2022. Further, many governments are taking stringent actions in limiting their carbon footprints to maintain green sustainability. Europe is the leading region investing a significant capital in deploying novel energy technologies, such as solar installation and energy-efficient products & services. Large buildings require predictive analytics, continuous building optimization, demand response, automated building control, and enterprise integration. However, small buildings require historical billing analysis; incentive availability; and educational, behavioral, and retrofit suggestions. Thus, IoT integrations with buildings make the building intelligent as IoT can automate and control these building operations. In addition, automate and control the building operations like security, fire and safety, air conditioning, and ventilation are efficiently monitored by the IoT (Internet of Things). Therefore, IoT-based elevators are becoming popular in intelligent buildings. The government initiatives and schemes have forced many building construction contractors to deploy energy efficient products and services, which will create lucrative opportunities for the key IoT in elevators market players.
OTIS; Schindler Group; KONE Corporation; Hyundai Elevator Co., Ltd.; and Fujitec are among the major companies operating in the Asia Pacific IoT in elevators market. The rising strategic initiatives and investments in new product developments would propel the growth of the IoT in elevators market in the coming years.
The COVID-19 pandemic has had a significant impact on the MEA countries, including Turkey, Iran, Iraq, Israel, Saudi Arabia, and the UAE. Saudi Arabia, the UAE, Iran, and Turkey are on the verge of implementing transformative technologies in various industries. Before the pandemic, the MEA countries had significantly invested in developing advanced technologies in the construction and semiconductor & electronic industry. The emergence of the pandemic in 2020 declined the demand for construction equipment, these construction equipment’s came to a halt due to the restrictions implemented by governments across the region to limit the spread of the novel coronavirus. Further, the availability of raw materials was a major concern for IoT in elevator manufacturers. This factor reduced manufacturing activities, which negatively impacted the data center, automotive, and telecommunication industries. In addition, in the first half of the post-2020 pandemic period, efforts to complete smart cities and smart infrastructure projects thus, there was slowdown in IoT devices, AI, and cloud platforms adoptions in construction industry. The pandemic has forced the closure of production facilities, which hampered business dynamics.
The overall IoT in elevators market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the IoT in elevators market analysis. The process also serves the purpose of obtaining an overview and market forecast of the IoT in elevators market size with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the IoT in elevators market.
The migration of people from rural to urban areas is increasing annually across the world. As per the United Nations report published in April 2018 on Sustainable Cities, Human Mobility, and International Migration, the proportion of the world's population living in cities is expected to rise from 55% in 2018 to 60% by 2030. According to the United Nations, 55% of the world's population lives in urban areas, and the percentage is expected to increase to 68% by 2050. According to the United Nations Department of Economic and Social Affairs (UN DESA), an increase in the urban population is expected to be concentrated in India, China, and Nigeria. India accounts for 35% of the projected growth of the world's urban population between 2018 and 2050. During this period, India, China, and Nigeria will have 416 million, 255 million, and 189 million urban dwellers, respectively. Migration of people from rural to urban has made many developing and developed economies governments to invest in new infrastructure projects. Therefore, in the coming years, rising urbanization will increase the demand for IoT in elevators.
With the rapid urbanization, automation, and improving economic conditions worldwide, the global construction industry is experiencing significant growth. Real estate developers and construction companies or project builders are providing automated advanced technology features and functions in their projects due to increased competition. The projects also include elevator automation in smart connected buildings. Modern elevators with IoT capabilities are designed to intelligently respond in real-time, communicate with service teams to resolve technical issues, improve maintenance operations, reduce costs, and allow passengers to summon the elevator via mobile app. The increasing adoption of automation in the construction industry propels the demand for smart and connected elevators. As a result, the IoT in elevators market is witnessing growth. IoT in elevator companies invest significantly in developing their portfolio products and services and coming up with new advanced IoT systems in elevators. On March 10, 2021, KONE Elevator India, a wholly-owned subsidiary of Finland-based KONE Corporation, introduced the world's first digitally connected elevator class, the KONE DX Class Elevators. In addition, on September 04, 2019, KONE, a global leader in the elevator and escalator industry, launched its newest innovation, KONE Care 24x7 Connected Services, in Pune, India, bolstering its position as the industry's innovation leader. IBM Watson, a recognized leader in cognitive computing, collaborated on this project. Such initiatives by the companies in the development of IoT in elevator is accelerating the IoT in elevators market growth.
The IoT in elevators market is segmented based on component, application, and end-user. Based on component, the market is segmented into hardware, software, and services. Based on application, the market is further segmented into preventive maintenance, remote monitoring, fault diagnosis and prediction, advanced reporting, and connectivity management. The IoT in elevators market, by end-user, is segmented into residential, commercial, and industrial. By geography, the IoT in elevators market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Government launched the 'Smart Dubai 2021 Strategy'. The objective of the strategy includes a smart, livable, and resilient city, leveraging ICT innovations, an interconnected society with easily accessible social services, and smooth transport driven by autonomous and shared mobility solutions. In addition, a clean environment is enabled by cutting-edge ICT innovations, and digital, lean, and connected government are the other objectives. Dubai Plan 2021 aims to transform the city into a smart and sustainable one. The Smart City project in Dubai follows a strategy that can transform ~1,000 government services in six key areas - transportation, infrastructure, communications, financial services, urban planning, and electricity. With Saudi Arabia Vision 2030, The Saudi Authority planned to start the smart city project in 10 cities, including Makkah, Riyadh, Jeddah, AI-Madinah, and AI-Ahsa. On January 10, 2021, Crown Prince and Chairman of the NEOM Company announced THE LINE AT NEOM, in which the government is investing US$ 500 million to build 170km smart cities. The smart city is a linear development of hyper-connected AI-enabled communities powered by 100% clean energy. Thus, such governments initiatives for developing smart cities are bolstering the IoT in elevators market growth.
As per International Energy Agency (IEA), with the economic recovery, the global electricity demand is expected to grow by 4% in 2022. Further, many governments are taking stringent actions in limiting their carbon footprints to maintain green sustainability. Europe is the leading region investing a significant capital in deploying novel energy technologies, such as solar installation and energy-efficient products & services. Large buildings require predictive analytics, continuous building optimization, demand response, automated building control, and enterprise integration. However, small buildings require historical billing analysis; incentive availability; and educational, behavioral, and retrofit suggestions. Thus, IoT integrations with buildings make the building intelligent as IoT can automate and control these building operations. In addition, automate and control the building operations like security, fire and safety, air conditioning, and ventilation are efficiently monitored by the IoT (Internet of Things). Therefore, IoT-based elevators are becoming popular in intelligent buildings. The government initiatives and schemes have forced many building construction contractors to deploy energy efficient products and services, which will create lucrative opportunities for the key IoT in elevators market players.
OTIS; Schindler Group; KONE Corporation; Hyundai Elevator Co., Ltd.; and Fujitec are among the major companies operating in the Asia Pacific IoT in elevators market. The rising strategic initiatives and investments in new product developments would propel the growth of the IoT in elevators market in the coming years.
Impact of COVID-19 Pandemic on MEA IoT in Elevators Market
The COVID-19 pandemic has had a significant impact on the MEA countries, including Turkey, Iran, Iraq, Israel, Saudi Arabia, and the UAE. Saudi Arabia, the UAE, Iran, and Turkey are on the verge of implementing transformative technologies in various industries. Before the pandemic, the MEA countries had significantly invested in developing advanced technologies in the construction and semiconductor & electronic industry. The emergence of the pandemic in 2020 declined the demand for construction equipment, these construction equipment’s came to a halt due to the restrictions implemented by governments across the region to limit the spread of the novel coronavirus. Further, the availability of raw materials was a major concern for IoT in elevator manufacturers. This factor reduced manufacturing activities, which negatively impacted the data center, automotive, and telecommunication industries. In addition, in the first half of the post-2020 pandemic period, efforts to complete smart cities and smart infrastructure projects thus, there was slowdown in IoT devices, AI, and cloud platforms adoptions in construction industry. The pandemic has forced the closure of production facilities, which hampered business dynamics.
The overall IoT in elevators market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the IoT in elevators market analysis. The process also serves the purpose of obtaining an overview and market forecast of the IoT in elevators market size with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the IoT in elevators market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. IoT in Elevators Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.2.6 Ecosystem Analysis
4.3 Expert Opinions
5. IoT in Elevators Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise In Urbanization and Governments Initiatives Towards Green Sustainability
5.1.2 Rise in Technological Developments in Construction Industry
5.2 Market Restraints
5.2.1 High Initial Investments Needed in Elevator Modernization and IoT Integrations
5.3 Market Opportunities
5.3.1 Companies Initiatives in developing IoT in Elevators and Government Support for Smart City Development
5.4 Future Trends
5.4.1 Rising Trend Towards Energy Efficient Products & Services in Intelligent Buildings
5.5 Impact Analysis of Drivers and Restraints
6. IoT in Elevators Market - Global Market Analysis
6.1 Global IoT in Elevators Market Overview
6.2 Global IoT in Elevators Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. IoT in Elevators Market - By Component
7.1 Overview
7.2 IoT in Elevators Market, by Component (2021 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.3.2.1 Processor Overview
7.3.2.1.1 Processor: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 Connectivity IC Overview
7.3.2.2.1 Connectivity IC: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.3.2.3 Sensor Overview
7.3.2.3.1 Sensor: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.3.2.4 Memory Device
7.3.2.4.1 Memory Device: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.3.2.5 Others Overview
7.3.2.5.1 Others: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.4.3 On-Premise
7.4.3.1 On-Premise: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.4.4 Cloud
7.4.4.1 Cloud: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.5.3 Designing and Engineering
7.5.3.1 Designing and Engineering: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.5.4 Installation
7.5.4.1 Installation: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.5.5 Maintenance and Repair
7.5.5.1 Maintenance and Repair: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
7.5.6 Others
7.5.6.1 Others: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
8. IoT in Elevators Market Analysis - by Application
8.1 Overview
8.2 IoT in Elevators Market, by Application (2021 and 2028)
8.3 Preventive Maintenance
8.3.1 Overview
8.3.2 Preventive Maintenance: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Remote Monitoring
8.4.1 Overview
8.4.2 Remote Monitoring: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Fault Diagnosis and Prediction
8.5.1 Overview
8.5.2 Fault Diagnosis and Prediction: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Advanced Reporting
8.6.1 Overview
8.6.2 Advanced Reporting: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Connectivity Management
8.7.1 Overview
8.7.2 Connectivity Management: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
9. IoT in Elevators Market Analysis - by End User
9.1 Overview
9.2 IoT in Elevators Market, by End User (2021 and 2028)
9.3 Residential
9.3.1 Overview
9.3.2 Residential: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10. IoT in Elevators Market - Geographic Analysis
10.1 Overview
10.2 North America: IoT in Elevators Market
10.2.1 Overview
10.2.2 North America IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.2.3 North America IoT in Elevators Market Breakdown, By Component
10.2.3.1 North America IoT in Elevators Market Breakdown, By Hardware
10.2.3.2 North America IoT in Elevators Market Breakdown, By Software
10.2.3.3 North America IoT in Elevators Market Breakdown, By Services
10.2.4 North America IoT in Elevators Market Breakdown, By Application
10.2.5 North America IoT in Elevators Market Breakdown, By End-User
10.2.6 North America IoT in Elevators Market Breakdown, by Country
10.2.6.1 US IoT in Elevators Market - Revenue and Forecast to 2028
10.2.6.1.1 US IoT in Elevators Market Breakdown, By Component
10.2.6.1.2 US IoT in Elevators Market Breakdown, By Application
10.2.6.1.3 US IoT in Elevators Market Breakdown, By End-User
10.2.6.2 Canada IoT in Elevators Market - Revenue and Forecast to 2028
10.2.6.2.1 Canada IoT in Elevators Market Breakdown, By Component
10.2.6.2.2 Canada IoT in Elevators Market Breakdown, By Application
10.2.6.2.3 Canada IoT in Elevators Market Breakdown, By End-User
10.2.6.3 Mexico IoT in Elevators Market - Revenue and Forecast to 2028
10.2.6.3.1 Mexico IoT in Elevators Market Breakdown, By Component
10.2.6.3.2 Mexico IoT in Elevators Market Breakdown, By Application
10.2.6.3.3 Mexico IoT in Elevators Market Breakdown, By End-User
10.3 Europe: IoT in Elevators Market
10.3.1 Overview
10.3.2 Europe IoT in Elevators Market Revenue and Forecast to 2028 (US$ Million)
10.3.3 Europe IoT in Elevators Market Breakdown, By Component
10.3.3.1 Europe IoT in Elevators Market Breakdown, By Hardware
10.3.3.2 Europe IoT in Elevators Market Breakdown, By Software
10.3.3.3 Europe IoT in Elevators Market Breakdown, By Services
10.3.4 Europe IoT in Elevators Market Breakdown, By Application
10.3.5 Europe IoT in Elevators Market Breakdown, By End-User
10.3.6 Europe IoT in Elevators Market Breakdown, by Country
10.3.6.1 Germany IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.1.1 Germany IoT in Elevators Market Breakdown, By Component
10.3.6.1.2 Germany IoT in Elevators Market Breakdown, By Application
10.3.6.1.3 Germany IoT in Elevators Market Breakdown, By End-User
10.3.6.2 France IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.2.1 France IoT in Elevators Market Breakdown, By Component
10.3.6.2.2 France IoT in Elevators Market Breakdown, By Application
10.3.6.2.3 France IoT in Elevators Market Breakdown, By End-User
10.3.6.3 Italy IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.3.1 Italy IoT in Elevators Market Breakdown, By Component
10.3.6.3.2 Italy IoT in Elevators Market Breakdown, By Application
10.3.6.3.3 Italy IoT in Elevators Market Breakdown, By End-User
10.3.6.4 UK IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.4.1 UK IoT in Elevators Market Breakdown, By Component
10.3.6.4.2 UK IoT in Elevators Market Breakdown, By Application
10.3.6.4.3 UK IoT in Elevators Market Breakdown, By End-User
10.3.6.5 Russia IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.5.1 Russia IoT in Elevators Market Breakdown, By Component
10.3.6.5.2 Russia IoT in Elevators Market Breakdown, By Application
10.3.6.5.3 Russia IoT in Elevators Market Breakdown, By End-User
10.3.6.6 Rest of Europe IoT in Elevators Market - Revenue and Forecast to 2028
10.3.6.6.1 Rest of Europe IoT in Elevators Market Breakdown, By Component
10.3.6.6.2 Rest of Europe IoT in Elevators Market Breakdown, By Application
10.3.6.6.3 Rest of Europe IoT in Elevators Market Breakdown, By End-User
10.4 APAC: IoT in Elevators Market
10.4.1 Overview
10.4.2 APAC IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.3 APAC IoT in Elevators Market Breakdown, By Component
10.4.3.1 APAC IoT in Elevators Market Breakdown, By Hardware
10.4.3.2 AAPC IoT in Elevators Market Breakdown, By Software
10.4.3.3 APAC IoT in Elevators Market Breakdown, By Services
10.4.4 APAC IoT in Elevators Market Breakdown, By Application
10.4.5 APAC IoT in Elevators Market Breakdown, By End-User
10.4.6 APAC IoT in Elevators Market Breakdown, by Country
10.4.6.1 Australia IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.1.1 Australia IoT in Elevators Market Breakdown, By Component
10.4.6.1.2 Australia IoT in Elevators Market Breakdown, By Application
10.4.6.1.3 Australia IoT in Elevators Market Breakdown, By End-User
10.4.6.2 China IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.2.1 China IoT in Elevators Market Breakdown, By Component
10.4.6.2.2 China IoT in Elevators Market Breakdown, By Application
10.4.6.2.3 China IoT in Elevators Market Breakdown, By End-User
10.4.6.3 India IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.3.1 India IoT in Elevators Market Breakdown, By Component
10.4.6.3.2 India IoT in Elevators Market Breakdown, By Application
10.4.6.3.3 India IoT in Elevators Market Breakdown, By End-User
10.4.6.4 Japan IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.4.1 Japan IoT in Elevators Market Breakdown, By Component
10.4.6.4.2 Japan IoT in Elevators Market Breakdown, By Application
10.4.6.4.3 Japan IoT in Elevators Market Breakdown, By End-User
10.4.6.5 South Korea IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.5.1 South Korea IoT in Elevators Market Breakdown, By Component
10.4.6.5.2 South Korea IoT in Elevators Market Breakdown, By Application
10.4.6.5.3 South Korea IoT in Elevators Market Breakdown, By End-User
10.4.6.6 Rest of APAC IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.4.6.6.1 Rest of APAC IoT in Elevators Market Breakdown, By Component
10.4.6.6.2 Rest of APAC IoT in Elevators Market Breakdown, By Application
10.4.6.6.3 Rest of APAC IoT in Elevators Market Breakdown, By End-User
10.5 MEA: IoT in Elevators Market
10.5.1 Overview
10.5.2 MEA IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.5.3 MEA IoT in Elevators Market Breakdown, By Component
10.5.3.1 MEA IoT in Elevators Market Breakdown, By Hardware
10.5.3.2 MEA IoT in Elevators Market Breakdown, By Software
10.5.3.3 MEA IoT in Elevators Market Breakdown, By Services
10.5.4 MEA IoT in Elevators Market Breakdown, By Application
10.5.5 MEA IoT in Elevators Market Breakdown, By End-User
10.5.6 MEA IoT in Elevators Market Breakdown, By Country
10.5.6.1 Saudi Arabia IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.5.6.1.1 Saudi Arabia IoT in Elevators Market Breakdown, By Component
10.5.6.1.2 Saudi Arabia IoT in Elevators Market Breakdown, By Application
10.5.6.1.3 Saudi Arabia IoT in Elevators Market Breakdown, By End-User
10.5.6.2 UAE IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.5.6.2.1 UAE IoT in Elevators Market Breakdown, By Component
10.5.6.2.2 UAE IoT in Elevators Market Breakdown, By Application
10.5.6.2.3 UAE IoT in Elevators Market Breakdown, By End-User
10.5.6.3 South Africa IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.5.6.3.1 South Africa IoT in Elevators Market Breakdown, By Component
10.5.6.3.2 South Africa IoT in Elevators Market Breakdown, By Application
10.5.6.3.3 South Africa IoT in Elevators Market Breakdown, By End-User
10.5.6.4 Rest of MEA IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.5.6.4.1 Rest of MEA IoT in Elevators Market Breakdown, By Component
10.5.6.4.2 Rest of MEA IoT in Elevators Market Breakdown, By Application
10.5.6.4.3 Rest of MEA IoT in Elevators Market Breakdown, By End-User
10.6 SAM: IoT in Elevators Market
10.6.1 Overview
10.6.2 SAM IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
10.6.3 SAM IoT in Elevators Market Breakdown, By Component
10.6.3.1 SAM IoT in Elevators Market Breakdown, By Hardware
10.6.3.2 SAM IoT in Elevators Market Breakdown, By Software
10.6.3.3 SAM IoT in Elevators Market Breakdown, By Services
10.6.4 SAM IoT in Elevators Market Breakdown, By Application
10.6.5 SAM IoT in Elevators Market Breakdown, By End-User
10.6.6 SAM IoT in Elevators Market Breakdown, by Country
10.6.6.1 Brazil IoT in Elevators Market - Revenue and Forecast to 2028
10.6.6.1.1 Brazil IoT in Elevators Market Breakdown, By Component
10.6.6.1.2 Brazil IoT in Elevators Market Breakdown, By Application
10.6.6.1.3 Brazil IoT in Elevators Market Breakdown, By End-User
10.6.6.2 Argentina IoT in Elevators Market - Revenue and Forecast to 2028
10.6.6.2.1 Argentina IoT in Elevators Market Breakdown, By Component
10.6.6.2.2 Argentina IoT in Elevators Market Breakdown, By Application
10.6.6.2.3 Argentina IoT in Elevators Market Breakdown, By End-User
10.6.6.3 Rest of SAM IoT in Elevators Market - Revenue and Forecast to 2028
10.6.6.3.1 Rest of SAM IoT in Elevators Market Breakdown, By Component
10.6.6.3.2 Rest of SAM IoT in Elevators Market Breakdown, By Application
10.6.6.3.3 Rest of SAM IoT in Elevators Market Breakdown, By End-User
11. IoT in Elevators Market - COVID-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.6 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 FUJITEC CO., LTD
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hitachi, Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 KONE Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Mitsubishi Electric Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Otis Worldwide Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Schindler
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Toshiba Elevator and Building Systems Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 HYUNDAIELEVATOR CO., LTD.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Robert Bosch GmbH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Schneider Electric SE
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
List of Tables
Table 1. Global IoT in Elevators Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 3. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By Hardware (US$ Million)
Table 4. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By Software (US$ Million)
Table 5. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By Services (US$ Million)
Table 6. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 7. North America IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 8. US IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 9. US IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 10. US IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 11. Canada IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 12. Canada IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 13. Canada IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 14. Mexico IoT in Elevators Market Breakdown, By Component
Table 15. Mexico IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 16. Mexico IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 17. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 18. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Hardware (US$ Million)
Table 19. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Software (US$ Million)
Table 20. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Services (US$ Million)
Table 21. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 22. Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 23. Germany IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 24. Germany IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 25. Germany IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 26. France IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 27. France IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 28. France IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 29. Italy IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 30. Italy IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 31. Italy IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 32. UK IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 33. UK IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 34. UK IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 35. Russia IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 36. Russia IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 37. Russia IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 38. Rest of Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 39. Rest of Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 40. Rest of Europe IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 41. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 42. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Hardware (US$ Million)
Table 43. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Software (US$ Million)
Table 44. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Services (US$ Million)
Table 45. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 46. APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 47. Australia IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 48. Australia IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 49. Australia IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 50. China IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 51. China IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 52. China IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 53. India IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 54. India IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 55. India IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 56. Japan IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 57. Japan IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 58. Japan IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 59. South Korea IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 60. South Korea IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 61. South Korea IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 62. Rest of APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 63. Rest of APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 64. Rest of APAC IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 65. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 66. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Hardware (US$ Million)
Table 67. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Software (US$ Million)
Table 68. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Services (US$ Million)
Table 69. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 70. MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 71. Saudi Arabia IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 72. Saudi Arabia IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 73. Saudi Arabia IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 74. UAE IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 75. UAE IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 76. UAE IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 77. South Africa IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 78. South Africa IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 79. South Africa IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 80. Rest of MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 81. Rest of MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 82. Rest of MEA IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 83. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 84. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Hardware (US$ Million)
Table 85. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Software (US$ Million)
Table 86. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Services (US$ Million)
Table 87. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 88. SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 89. Brazil IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 90. Brazil IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 91. Brazil IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 92. Argentina IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 93. Argentina IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 94. Argentina IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 95. Rest of SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Component (US$ Million)
Table 96. Rest of SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By Application (US$ Million)
Table 97. Rest of SAM IoT in Elevators Market - Revenue and Forecast to 2028 - By End-User (US$ Million)
Table 98. List of Abbreviation
List of Figures
Figure 1. IoT in Elevators Market Segmentation
Figure 2. IoT in Elevators Market Segmentation - By Geography
Figure 3. Global IoT in Elevators Market Overview
Figure 4. IoT in Elevators Market, by Component
Figure 5. IoT in Elevators Market, by End-user
Figure 6. IoT in Elevators Market, by Geography
Figure 7. North America - PEST Analysis
Figure 8. Europe - PEST Analysis
Figure 9. APAC - PEST Analysis
Figure 10. MEA - PEST Analysis
Figure 11. SAM - PEST Analysis
Figure 12. IoT in Elevators Market- Ecosystem Analysis
Figure 13. IoT in Elevators Market: Impact Analysis of Drivers and Restraints
Figure 14. Geographic Overview of IoT in Elevators Market
Figure 15. Global IoT in Elevators Market Revenue Forecast and Analysis (US$ Million)
Figure 16. IoT in Elevators Market Revenue Share, by Component (2021 and 2028)
Figure 17. Hardware: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Processor: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Connectivity IC: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Sensor: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Memory Device: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Others: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. Software: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. On-Premise: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Cloud: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Services: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Designing and Engineering: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Installation: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Maintenance and Repair: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. Others: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. IoT in Elevators Market Revenue Share, by Application (2021 and 2028)
Figure 32. Preventive Maintenance: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. Remote Monitoring: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Fault Diagnosis and Prediction: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Advanced Reporting: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Connectivity Management: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 37. IoT in Elevators Market Revenue Share, by End User (2021 and 2028)
Figure 38. Residential: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 39. Commercial: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 40. Industrial: IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 41. Global IoT in Elevators Market Breakdown, by Region, 2021 & 2028 (%)
Figure 42. North America IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 43. North America IoT in Elevators Market Breakdown, By Component, 2021 & 2028 (%)
Figure 44. North America IoT in Elevators Market Breakdown, By Application, 2021 & 2028 (%)
Figure 45. North America IoT in Elevators Market Breakdown, By End-User, 2021 & 2028 (%)
Figure 46. North America IoT in Elevators Market Breakdown, by Country, 2021 & 2028 (%)
Figure 47. US IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 48. Canada IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 49. Mexico IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 50. Europe IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 51. Europe IoT in Elevators Market Breakdown, By Component, 2021 & 2028 (%)
Figure 52. Europe IoT in Elevators Market Breakdown, By Application, 2021 & 2028 (%)
Figure 53. Europe IoT in Elevators Market Breakdown, By End-User, 2021 & 2028 (%)
Figure 54. Europe IoT in Elevators Market Breakdown, by Country, 2018 & 2027(%)
Figure 55. Germany IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 56. France IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 57. Italy IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 58. UK IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 59. Russia IoT in Elevators Market - Revenue and Forecast to 2028 (US$ Million)
Figure 60. Rest
Samples
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Fujitec Co., Ltd.
- Hitachi, Ltd.
- KONE Corporation
- Mitsubishi Electric Corporation
- Otis Elevator Company Ltd.
- Bosch GmbH
- Schindler Group
- Schneider Electric SE
- Toshiba Elevators and Building Systems Corporation
- Hyundai Elevator Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 199 |
| Published | June 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1514.88 Million |
| Forecasted Market Value ( USD | $ 2022.13 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
