IoT in Elevator Market
IoT in Elevator Market by Hardware, Software, and Services for Preventive Maintenance, Remote Monitoring, Advanced Reporting, and Connectivity Management from 2024 to 2034
Analysis of IoT in Elevator Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
IoT in Elevator Market Outlook (2024 to 2034)
The global IoT in elevator market size is estimated to reach a value of US$ 33.13 billion in 2024, as revealed in an updated research report by Fact.MR. Revenue from the market is projected to increase at a remarkable CAGR of 11.4% and climb to US$ 97.53 billion by the end of 2034.
Increase in innovative construction and smart city projects is attributed to the growing attention on developing and modernizing infrastructure, which is resulting in the mounting requirements for IoT in elevators. Constant advancements taking place in the IoT market are due to the rising need for energy-efficient and secure systems. Devices powered by IoT technology are capable of managing big data streams and performing predictive maintenance in elevators.
Elevator reservation systems operate on the IoT (Internet of Things) platform of the company, which enables centralized control of cameras, elevators, Bluetooth, and several other subsystem linkages. These systems are accessed by smartphones with Bluetooth functionality, WeChat Mini Programs, and mobile applications. Issues, such as unauthorized functionality and long waiting times are solved with the use of these smart elevators. In addition, they also minimize the chances of physical contact with elevators.
Growing spending by more consumers on smart living and advanced home facilities is stimulating more builders to adopt smart vertical transportation facilities for residents in buildings.
- Demand for IoT in elevators in Japan is forecasted to increase at 12.7% CAGR from 2024 to 2034.
- The residential segment is evaluated to expand at a CAGR of 11.6% and reach a market value of US$ 45.84 billion by the end of 2034.
- East Asia is analyzed to capture a 26% share of the market by 2034.
- The market in Canada is projected to expand at a CAGR of 11.2% from 2024 to 2034.
| Report Attribute | Detail |
|---|---|
| IoT in Elevator Market Size (2024E) | US$ 33.13 Billion |
| Forecasted Market Value (2034F) | US$ 97.53 Billion |
| Global Market Growth Rate (2024 to 2034) | 11.4% CAGR |
| Market Share of Hardware Segment (2034F) | 69% |
| North America Market Share (2034F) | 31.5% |
| South Korea Market Growth Rate (2024 to 2034) | 13% CAGR |
| Key Companies Profiled | Mitsubishi Electric Corporation; Company Profiles; Toshiba Elevators; Electra Ltd.; ThyssenKrupp AG.; Fujitec Co., Ltd.; Telefonica S.A.; Hitachi, Ltd.; Schindler Group; Hyundai Elevator Co. Ltd.; Otis Elevator Company; KONE Corporation. |
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What is Paving the Way for Providers of IoT in Elevators to Maximize Their Profits?
“Surging Demand for Elevator Systems Equipped with Smart Technology Features”
Cities are undergoing noteworthy transformation owing to the expansion of infrastructure and economic development. Further, growing initiatives undertaken for developing smart cities, enhanced safety features, real-time monitoring of any sort of unusual activities, and improving IoT capabilities are contributing to the expansion of the IoT in Elevator market size. Moreover, IoT is one such solution more firms are heavily becoming reliant on for smart facilities for safeguarding and protecting property against any internal or external threat.
Growing expenditure on urban development projects, particularly in developing countries such as India, is widening the application scope of IoT in elevators. A rising preference for predictive monitoring of elevators is also positively impacting market dynamics.
Why are Small Builders Showing Less Interest in Adopting IoT Solutions for Elevators?
“Substantial Initial and Ongoing Costs Detering Adoption of IoT-enabled Elevators”
Significant investment is required at the initial level for installing IoT in elevators. Moreover, the higher cost of maintaining these solutions is limiting their installation in some areas, particularly residential. A large capital investment is required for the installation of IoT-enabled and connected elevators, which includes service fees, equipment costs, and maintenance.
The prices associated with electricity and internet connectivity are also adding to the overall system costs. Thereby, several small builders are taking less interest in the adoption of IoT solutions in elevators.
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How are Start-ups to Changing the Face of the Global Market?
“Focus on Integrating Machine Learning and Artificial Intelligence in Elevator Technologies”
New market players are actively investing in technological advancements and are using machine learning and artificial intelligence in elevator technologies, which is subsequently resulting in the development of more smart solutions for maintaining and managing elevators virtually. The growing need for smart elevators is leading to the development of innovative IoT solutions.
Country-wise Insights
North America is analyzed to account for 31.5% of the global market share by 2034-end, as reported in a study published by Fact.MR, a market research and competitive intelligence provider. Rising focus on energy conservation and security is contributing to IoT in elevator market growth in the region. Dependency on elevators for vertical transportation systems is widening the application scope of application of IoT in elevators.
Why Should IoT-Enabled Elevator Manufacturers Invest in the United States?
“Increasing Construction Activities and Use of Smart Equipment in High-Rise Buildings”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 4.86 Billion |
| Growth Rate (2024 to 2034) | 11.2% CAGR |
| Projected Value (2034F) | US$ 14 Billion |
The United States is evaluated to capture a share of 45.6% of the North American market by 2034. Growing construction activities and technological advancements are boosting demand for IoT solutions in elevators. Furthermore, the increasing prominence of smart equipment in high-rise buildings is contributing to the popularity of IoT solutions in elevators. The rapid rate of digitization and technological progress is also having a positive influence on IoT in elevator market trends in the United States.
What Makes China an Attractive Market in This Business?
“High Investment in Development of Smart Cities and Metropolises”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 3.81 Billion |
| Growth Rate (2024 to 2034) | 12.2% CAGR |
| Projected Value (2034F) | US$ 12.04 Billion |
China is analyzed to contribute 47.5% share of the East Asian market by the end of 2034. The government in the country is spending significantly on the development of smart cities and metropolises. The increasing urban population is generating requirements for additional infrastructure, which is resulting in the rising demand for smart elevators.
Why Should Market Players Target Japan to Increase Their Profits?
“Stringent Government Regulations Promoting Green Infrastructure”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 2.25 Billion |
| Growth Rate (2024 to 2034) | 12.7% CAGR |
| Projected Value (2034F) | US$ 7.45 Billion |
Japan is approximated to occupy 29.4% share of the East Asian market by 2034. Certain stringent government regulations are resulting in growing initiatives taken to promote green infrastructure. Increasing consumer demand for safe, smart, and energy-efficient elevators is creating remunerative opportunities for market players in Japan. Elevators with connected and intelligent features are becoming more popular with the increasing need for energy conservation, subsequently contributing to the rising popularity of IoT solutions in elevators.
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Category-wise Insights
There is an increased demand for IoT solutions for use in elevators for their predictive maintenance application. A constant data feed helps professionals get information about the tools they require for the diagnosis and mitigation of problems before they reach on-site, thereby helping save money and time. Installing predictive maintenance facilities in elevators helps in monitoring noise fluctuations, heat changes, and friction. IoT technology assists in reducing elevator downtime and offers secure and power-efficient systems.
Which Component of IoT Infrastructure Occupies a Significant Market Share?
“Need for Constant Repair and Maintenance Driving Demand for Advanced Hardware”
| Attribute | Hardware |
|---|---|
| Segment Value (2024E) | US$ 23.52 Billion |
| Growth Rate (2024 to 2034) | 11.1% CAGR |
| Projected Value (2034F) | US$ 67.29 Billion |
The hardware segment is projected to capture 69% share of the global market by 2034. Increased investments by conventional construction businesses for procuring hardware components of superior quality ensure secure and safe transportation facilities. Remote surveillance facilities are accepted on a larger scale for smart elevators.
More engineers and designers are accepting remote surveillance for IoT-enabled elevators, which is further resulting in the noteworthy demand for hardware devices. These professionals are considering several factors, such as refurbishment, installation, repair, and maintenance. Increasing demand for aesthetic appearance for several hospitality businesses is positively impacting the demand for more advanced hardware components for use in the elevator industry.
Which Application of IoT in Elevators is Generating Substantial Revenue Streams?
“Surging Need for Modern and Advanced Elevators in Residential Sector”
| Attribute | Residential |
|---|---|
| Segment Value (2024E) | US$ 15.24 Billion |
| Growth Rate (2024 to 2034) | 11.6% CAGR |
| Projected Value (2034F) | US$ 45.84 Billion |
The residential sector is forecasted to account for 47% of the IoT in elevator market share by the end of 2034. Increasing demand for more effective amenities in the residential sector across developing and developed countries is leading to the installation of predictive maintenance facilities in smart elevators. These advanced elevators help in monitoring heat exchange and friction for a secure operation of the transportation facilities.
Competitive Landscape
Key players in the IoT in elevator market are making efforts, such as collaborations, partnerships, acquisitions, new product launches, and others to get a competitive edge.
For instance :
- ThyssenKrupp AG, in September 2023, announced the launch of MAX predictive maintenance systems. It uses machine learning and AI for data analysis from elevator sensors to identify potential problems before they lead to any breakdown.
Fact.MR provides detailed information about the price points of key providers of IoT in elevator solutions positioned across the world, sales growth, production capacity, and speculative technological expansion, in this recently updated market report.
Segmentation of IoT in Elevator Market Research
-
By Component :
- Hardware
- Software
- On-premise
- Cloud
- Services
- Designing & Engineering
- Installation
- Refurbishing
- Maintenance & Repair
- Managed Services
-
By Application :
- Preventive Maintenance
- Remote Monitoring
- Advanced Reporting
- Connectivity Management
- Others
-
By End User :
- Residential
- Commercial
- Industrial
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- MEA
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Component 6.2. Application 6.3. End User 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Component 7.1. Hardware 7.2. Software 7.3. Services 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application 8.1. Preventive Maintenance 8.2. Remote Monitoring 8.3. Advanced Reporting 8.4. Connectivity Management 8.5. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End User 9.1. Residential 9.2. Commercial 9.3. Industrial 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. East Asia 10.6. South Asia & Pacific 10.7. Middle East & Africa 11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Component, Application, End User, and Region for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Mitsubishi Electric Corporation 20.2. Company Profiles 20.3. Toshiba Elevators 20.4. Electra Ltd. 20.5. ThyssenKrupp AG. 20.6. Fujitec Co., Ltd. 20.7. Telefonica S.A. 20.8. Hitachi, Ltd. 20.9. Schindler Group 20.10. Hyundai Elevator Co. Ltd. 20.11. Otis Elevator Company 20.12. KONE Corporation 21. Assumptions and Acronyms Componentd 22. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 02: Global Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 04: Global Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 05: Global Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 07: Global Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 08: Global Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 10: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023
Table 11: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 13: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 14: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 16: North America Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 17: North America Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 19: North America Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 20: North America Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 22: North America Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 23: North America Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 25: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 26: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 28: Latin America Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 29: Latin America Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 30: Latin America Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 31: Latin America Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 32: Latin America Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 34: Latin America Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 35: Latin America Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 37: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 38: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 39: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 40: Western Europe Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 41: Western Europe Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 42: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 43: Western Europe Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 44: Western Europe Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 45: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 46: Western Europe Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 47: Western Europe Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 48: Western Europe Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 49: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 50: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 51: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 52: Eastern Europe Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 53: Eastern Europe Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 54: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 55: Eastern Europe Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 56: Eastern Europe Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 57: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 58: Eastern Europe Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 59: Eastern Europe Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 60: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 61: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 62: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 63: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 64: East Asia Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 65: East Asia Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 66: East Asia Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 67: East Asia Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 68: East Asia Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 69: East Asia Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 70: East Asia Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 71: East Asia Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 72: East Asia Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 73: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 74: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 75: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 76: South Asia & Pacific Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 77: South Asia & Pacific Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 78: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 79: South Asia & Pacific Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 80: South Asia & Pacific Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 81: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 82: South Asia & Pacific Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 83: South Asia & Pacific Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 84: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
Table 85: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 86: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 87: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 88: MEA Market Value (US$ Mn) Analysis, by Component, 2019 to 2023
Table 89: MEA Market Value (US$ Mn) Analysis, by Component, 2024 to 2034
Table 90: MEA Market Value (US$ Mn) Opportunity Analysis, by Component, 2024 to 2034
Table 91: MEA Market Value (US$ Mn) Analysis, by Application, 2019 to 2023
Table 92: MEA Market Value (US$ Mn) Analysis, by Application, 2024 to 2034
Table 93: MEA Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034
Table 94: MEA Market Value (US$ Mn) Analysis, by End User, 2019 to 2023
Table 95: MEA Market Value (US$ Mn) Analysis, by End User, 2024 to 2034
Table 96: MEA Market Value (US$ Mn) Opportunity Analysis, by End User, 2024 to 2034
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List Of Figures
Figure 01: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 02: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 04: Global Market Incremental $ Opportunity, 2024 to 2034
Figure 05: Global Market Share and BPS Analysis by Component, 2024 & 2034
Figure 06: Global Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 07: Global Market Attractiveness Analysis by Component, 2024 to 2034
Figure 08: Global Market Share and BPS Analysis by Application, 2024 & 2034
Figure 09: Global Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by Application, 2024 to 2034
Figure 11: Global Market Share and BPS Analysis by End User, 2024 & 2034
Figure 12: Global Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by End User, 2024 to 2034
Figure 14: Global Market Share and BPS Analysis by Region, 2024 & 2034
Figure 15: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 16: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 17: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 18: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 19: North America Market Value Y-o-Y Growth and Forecast, 2034
Figure 20: North America Market Incremental $ Opportunity, 2024 to 2034
Figure 21: North America Market Share Analysis by Country, 2024 & 2034
Figure 22: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 23: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 24: North America Market Share and BPS Analysis by Component, 2024 & 2034
Figure 25: North America Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 26: North America Market Attractiveness Analysis by Component, 2024 to 2034
Figure 27: North America Market Share and BPS Analysis by Application, 2024 & 2034
Figure 28: North America Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 29: North America Market Attractiveness Analysis by Application, 2024 to 2034
Figure 30: North America Market Share and BPS Analysis by End User, 2024 & 2034
Figure 31: North America Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 32: North America Market Attractiveness Analysis by End User, 2024 to 2034
Figure 33: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 34: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 35: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 36: Latin America Market Incremental $ Opportunity, 2024 to 2034
Figure 37: Latin America Market Share Analysis by Country, 2024 & 2034
Figure 38: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 39: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 40: Latin America Market Share and BPS Analysis by Component, 2024 & 2034
Figure 41: Latin America Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 42: Latin America Market Attractiveness Analysis by Component, 2024 to 2034
Figure 43: Latin America Market Share and BPS Analysis by Application, 2024 & 2034
Figure 44: Latin America Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 45: Latin America Market Attractiveness Analysis by Application, 2024 to 2034
Figure 46: Latin America Market Share and BPS Analysis by End User, 2024 & 2034
Figure 47: Latin America Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 48: Latin America Market Attractiveness Analysis by End User, 2024 to 2034
Figure 49: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 50: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 51: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 52: Western Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 53: Western Europe Market Share Analysis by Country, 2024 & 2034
Figure 54: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 55: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 56: Western Europe Market Share and BPS Analysis by Component, 2024 & 2034
Figure 57: Western Europe Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 58: Western Europe Market Attractiveness Analysis by Component, 2024 to 2034
Figure 59: Western Europe Market Share and BPS Analysis by Application, 2024 & 2034
Figure 60: Western Europe Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 61: Western Europe Market Attractiveness Analysis by Application, 2024 to 2034
Figure 62: Western Europe Market Share and BPS Analysis by End User, 2024 & 2034
Figure 63: Western Europe Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 64: Western Europe Market Attractiveness Analysis by End User, 2024 to 2034
Figure 66: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 67: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 68: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 69: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 70: Eastern Europe Market Share Analysis by Country, 2024 & 2034
Figure 71: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 72: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 73: Eastern Europe Market Share and BPS Analysis by Component, 2024 & 2034
Figure 74: Eastern Europe Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 75: Eastern Europe Market Attractiveness Analysis by Component, 2024 to 2034
Figure 76: Eastern Europe Market Share and BPS Analysis by Application, 2024 & 2034
Figure 77: Eastern Europe Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 78: Eastern Europe Market Attractiveness Analysis by Application, 2024 to 2034
Figure 79: Eastern Europe Market Share and BPS Analysis by End User, 2024 & 2034
Figure 80: Eastern Europe Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 81: Eastern Europe Market Attractiveness Analysis by End User, 2024 to 2034
Figure 82: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 83: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 84: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 85: East Asia Market Incremental $ Opportunity, 2024 to 2034
Figure 86: East Asia Market Share Analysis by Country, 2024 & 2034
Figure 87: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 88: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 89: East Asia Market Share and BPS Analysis by Component, 2024 & 2034
Figure 90: East Asia Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 91: East Asia Market Attractiveness Analysis by Component, 2024 to 2034
Figure 92: East Asia Market Share and BPS Analysis by Application, 2024 & 2034
Figure 93: East Asia Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 94: East Asia Market Attractiveness Analysis by Application, 2024 to 2034
Figure 95: East Asia Market Share and BPS Analysis by End User, 2024 & 2034
Figure 96: East Asia Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 97: East Asia Market Attractiveness Analysis by End User, 2024 to 2034
Figure 98: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 99: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 100: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 101: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034
Figure 102: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034
Figure 103: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 104: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034
Figure 105: South Asia & Pacific Market Share and BPS Analysis by Component, 2024 & 2034
Figure 106: South Asia & Pacific Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 107: South Asia & Pacific Market Attractiveness Analysis by Component, 2024 to 2034
Figure 108: South Asia & Pacific Market Share and BPS Analysis by Application, 2024 & 2034
Figure 109: South Asia & Pacific Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 110: South Asia & Pacific Market Attractiveness Analysis by Application, 2024 to 2034
Figure 111: South Asia & Pacific Market Share and BPS Analysis by End User, 2024 & 2034
Figure 112: South Asia & Pacific Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 113: South Asia & Pacific Market Attractiveness Analysis by End User, 2024 to 2034
Figure 114: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 115: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 116: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 117: MEA Market Incremental $ Opportunity, 2024 to 2034
Figure 118: MEA Market Share Analysis by Country, 2024 & 2034
Figure 119: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 120: MEA Market Attractiveness Analysis by Country, 2024 to 2034
Figure 121: MEA Market Share and BPS Analysis by Component, 2024 & 2034
Figure 122: MEA Market Y-o-Y Growth Projections by Component, 2024 to 2034
Figure 123: MEA Market Attractiveness Analysis by Component, 2024 to 2034
Figure 124: MEA Market Share and BPS Analysis by Application, 2024 & 2034
Figure 125: MEA Market Y-o-Y Growth Projections by Application, 2024 to 2034
Figure 126: MEA Market Attractiveness Analysis by Application, 2024 to 2034
Figure 127: MEA Market Share and BPS Analysis by End User, 2024 & 2034
Figure 128: MEA Market Y-o-Y Growth Projections by End User, 2024 to 2034
Figure 129: MEA Market Attractiveness Analysis by End User, 2024 to 2034
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the size of the IoT in elevator market in 2024?
The global IoT in elevator market is valued at US$ 33.13 billion in 2024.
What is the demand projection for IoT in elevator solutions for 2034?
Global demand for IoT in elevators is projected to reach a market value of US$ 97.53 billion by 2034.
At what rate is the global market approximated to expand?
The global market is evaluated to advance at 11.4% CAGR from 2024 to 2034.
What is the contribution of North America to the global market revenue?
North America is forecasted to account for a share of 31.5% of the global market by 2034.
At what CAGR is the demand for IoT in elevators calculated to increase in Japan?
Demand for IoT in elevators in Japan is forested to accelerate at 12.7% CAGR through 2034.
How much share of the global market is the residential sector analyzed to occupy?
The residential sector is expected to account for 47% share of global market revenue by 2034.
Who are some of the leading market players in this business?
Some of the prominent market players include Electra Ltd., ThyssenKrupp AG., Fujitec Co., Ltd., Hitachi, Ltd., and Schindler Group.
IoT in Elevator Market