Escalator Future

        The report, based on the extensive research study of the global elevator automation market, is aimed at identifying the entire market for the elevator access controls and security, automation and modernization; elevator access controls and security market, in particular, is further segmented into card based, biometric based, keypad and touch based, surveillance system, intruder alarm and visitor management system. The report covers the overall market and sub-segment markets through extensively detailed classifications.

 

        The overall global elevator automation market is expected to reach $16.45 billion by 2018; growing at a double digit CAGR from 2013 till 2018. The stringent regulations being imposed by the governments augmented by the increasing need to save operational costs by building manager/owners has enhanced the demand for elevator access controls and security, automation, and modernization. Growing concern related to security and the developments towards the integration of access controls will propel the market in future. Demand for energy efficient elevators, more convenience, and enhanced security remains the major driver for global elevator automation market. Increase in construction spending, growth in urbanization, and global sporting events such as World Cup Soccer in 2014, Olympics in 2016 offer excellent opportunities for market growth. In addition to this, the latest technologies in elevator such as Personal Occupant Requirement Terminal (PORT) and dispatch destination have revolutionized the market. The scope of new installation in regions like Americas and Europe is low as they are already equipped with the latest technology. However, regions like APAC where construction is increasing exponentially have opened new avenues for the elevator industry.

        KEY TAKE-AWAYS

•   The global elevator automation market is estimated to grow at a healthy CAGR from 2013 till 2018 and reach close to $16.4 billion by the end of these five years.
•   Currently, modernization contributes to 60% of the smart elevator market. However, the elevator automation is estimated to grow at the highest CAGR during 2013-2018.
•   Porter’s analysis in detail, market dynamics of products and their respective markets has been explained.
•   Detailed segmentation of global elevator automation market by application with a focus on markets of high growth and emerging trends in industry
•   Detailed market dynamics i.e. drivers, restraints, and opportunities for global elevator automation market along with winning imperatives
•   Detailed competitive landscape with identification of the key players and market share analysis with market rankings
•   Complete value chain, allied industry segments & value chain analysis of the global elevator automation market

Global Elevator Automation Market Revenue, 2012 – 2018 ($Billion)