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.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

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.

- Also of Interest -

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

Elevator Component Market

Elevator Component Market Study by Cars & Shafts, Landing Doors, Motors, Machine Drives, Tension Pulleys, Controllers, Frames, Guide Rails, Speed Governors, and Car Buffers from 2024 to 2034

Construction Elevators Market

Construction Elevators Market Analysis by Up to 2000 Kg, 2000 Kg to 4000 Kg, and 4000 Kg and Above for Construction Companies and Rental Services from 2023 to 2033

Elevators Market

Elevators Market Analysis by Single Deck Elevators and Double Deck Elevators from 2023 to 2033

IoT in Elevator Market

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