In the revised edition, trends indicate a worth of USD 13,395.64 million for the Smart Elevator Automation System Market in 2024. As these trends gain significance, the sales of smart elevator automation systems garner the potential to target a valuation of USD 30,009.33 million by 2034. This infers a healthy CAGR of 8.40% from 2024 to 2034.
As per the Smart Elevator Market report, the populated cities consist of tall buildings for offices and residential purposes. These tall buildings cause severe inconvenience due to the long wait time for the lifts. Along with this, the old versions of elevators require high operational costs. The amplifying demand for energy-efficient solutions catalyzes the heightening demand for residential elevators.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 13,395.64 million |
| Market Value for 2034 | USD 30,009.33 million |
| Market CAGR from 2024 to 2034 | 8.40% |
As populations move towards urban areas, high-rise buildings have an amplified requirement to accommodate housing and commercial places. With constrained horizontal areas, buildings expand vertically, compelling the need for smart elevators. The snowballing urban populations led to a surged demand for elevators to manage large volumes of people while minimizing energy usage and cutting down wait times.
Governments and city planners globally are venturing money into smart infrastructure to augment mobility and overall lifestyle. Smart elevators are essential in such schemes by aiding sustainability, eliminating carbon emissions, and reinforcing building connectivity.
| Attributes | Details |
|---|---|
| Market Value for 2019 | USD 9,680.84 million |
| Market Value for 2023 | USD 12,357.60 million |
| Market CAGR from 2019 to 2023 | 6.30% |
The segmented smart elevator automation system market analysis is included in the following subsection. Based on comprehensive studies, the building management system sector is prevailing in the component category. Likewise, the industrial segment governs the end-user category.
| Segment | Building Management System |
|---|---|
| Share (2024) | 20.50% |
Building management systems enable data-driven governing, that aids in predictive maintenance and is economical. The scalability and versatility of the building management system segment warrant agility to changing business requirements and technical advances, which amplify the demand.
The amalgamation of the ability to build management systems simplifies maintenance supervisors’ monitoring and management tasks surging the adoption. The integrated control presented by building management systems diminishes downtime and promotes resourcefulness.
| Segment | Industrial |
|---|---|
| Share (2024) | 24.30% |
Cost-effectiveness is crucial for industrial operations, as smart elevators present long-term savings through enhanced energy use and repair planning. The productivity growth in industrial sectors is boosted by curbing downtime by predictive maintenance proffered by smart elevator technology, intensifying the demand.
The intensified logistics in industrial installation aid smart elevator incorporation, promoting the swift transfer of goods and people, and escalating the adoption. The safety benchmarks in the industrial sector warrant advanced elevator systems with automated monitoring and govern the potentiality.
The smart elevator automation system market can be observed in the subsequent tables, which focus on the leading economies in Germany, Japan, China, the United States, Australia, and New Zealand. A comprehensive evaluation demonstrates that China has enormous opportunities.
| Nation | China |
|---|---|
| CAGR (2024 to 2034) | 10.50% |
The rapid urbanization and construction boom presented significant opportunities for smart elevator automation systems, particularly in China metropolises like Shanghai and Shenzhen. Emphasizing smart city projects, municipalities in China prioritize the installation of IoT-equipped elevators to augment vertical mobility and building management.
The government is integral in encouraging green building standards, which surges the adoption of renewable smart elevators in China's sustainable urban development projects. The support and stability in the market is an optimistic sign for investors and vendors. The developing middle class of China demands elite facilities in residential and commercial buildings, leading to the adoption of luxurious smart elevator solutions providing intensified comfort and security characteristics.
| Nation | United States |
|---|---|
| CAGR (2024 to 2034) | 8.40% |
The influence of Silicon Valley nurtures innovation in smart elevator technology, concentrating on amalgamating AI and IoT proficiency to upgrade vertical transportation in urban areas like New York. The focus on user experience and convenience augments the demand for smart elevator systems integrated with smartphones and custom-built service choices in luxury residential and commercial properties.
Green building certifications like LEED induce the positioning of fuel-efficient smart elevators in ecologically aware cities like Seattle. Issues regarding building security usher the adoption of smart elevator solutions with automated monitoring and emergency response ability in major metropolitan cities in the United States.
| Country | Australia and New Zealand |
|---|---|
| CAGR (2024 to 2034) | 7.90% |
Emphasis on smart infrastructure evolution in Sydney and Melbourne thrust the adoption of IoT-enabled elevator systems in Australia to amplify efficiency and user experience. The demand for smart elevators integrated with remote monitoring aligns with the vast geography of Australia and the demand for operational efficiency and elevator management in remote locations.
New Zealand's dedication to environmentally friendly construction activities stimulates the integration of clean, smart elevators in earth-conscious building projects.
| Nation | Japan |
|---|---|
| CAGR (2024 to 2034) | 3.90% |
The aging population of Japan prompts the smart elevator system demand to fulfill the requirements of elderly and mobility-impaired people. The seismic activity issues strengthen the adoption of smart elevator systems with earthquake detection and evacuation functions in Japanese cities exposed to risks of earthquakes.
Japan has a culture of innovation that sustains the advancement of innovative elevator solutions for upscale user experience and safety, amplifying the smart elevator automation system market growth. The skyscraper-dominated skyline of Tokyo needs advanced elevator technologies to warrant efficacious vertical transportation in densely populated areas.
| Nation | Germany |
|---|---|
| CAGR (2024 to 2034) | 2.70% |
Germany's focus on precision engineering and authenticity accords with the demand for smart elevator automation systems for residential and commercial buildings. With a sturdy production sector, Germany seeks smart elevator technology as intrinsic to augment industrial profitability and safety benchmarks. Industrialization trends in Berlin and Munich persuade inventive elevator solutions to fit rising populations and high-rise buildings.
The market is very competitive, with key smart elevator automation system vendors accelerating innovation and shaping the industry. The established smart elevator automation system producers set standards for excellence and accuracy in elevator automation solutions. Honeywell International Inc., Robert Bosch GmbH, and Huawei Technologies Co., Ltd. bring their technological expertise, conducing to the progression of smart elevator systems.
Complementing these groundbreaking smart elevator automation system manufacturers are emerging players like Hyundai Elevator, Sigma Elevator Company, Toshiba Elevator, and Building Systems Corporation, each presenting their diverse market contributions. The competitive outlook contains notable smart elevator automation system vendors like TK Elevators and other smaller firms, which contribute to the market dynamics. As smart elevator automation system manufacturers innovate and broaden their product portfolios, the market is slated for growth and advancements.
Noteworthy Observations
| Company | Otis |
|---|---|
| Headquarter | United States |
| Recent Advancement |
|
| Company | 3 Phase Elevator |
|---|---|
| Headquarter | United States |
| Recent Advancement |
|
| Company | Schindler Group |
|---|---|
| Headquarter | Switzerland |
| Recent Advancement |
|
| Company | Hitachi Elevator Co., Ltd. |
|---|---|
| Headquarter | China |
| Recent Advancement |
|
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 4: Global Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 5: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 6: North America Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 8: North America Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 10: Latin America Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 11: Latin America Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 12: Latin America Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 13: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Western Europe Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 15: Western Europe Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 16: Western Europe Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 17: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 18: Eastern Europe Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 19: Eastern Europe Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 20: Eastern Europe Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 21: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 22: South Asia and Pacific Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 23: South Asia and Pacific Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 24: South Asia and Pacific Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 25: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: East Asia Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 27: East Asia Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 28: East Asia Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Table 29: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 30: Middle East and Africa Market Value (US$ Million) Forecast by Component, 2019 to 2034
Table 31: Middle East and Africa Market Value (US$ Million) Forecast by Service, 2019 to 2034
Table 32: Middle East and Africa Market Value (US$ Million) Forecast by End Use, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Component, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Service, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by End Use, 2024 to 2034
Figure 4: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 9: Global Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 10: Global Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 11: Global Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 12: Global Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 13: Global Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 14: Global Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 15: Global Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 16: Global Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 17: Global Market Attractiveness by Component, 2024 to 2034
Figure 18: Global Market Attractiveness by Service, 2024 to 2034
Figure 19: Global Market Attractiveness by End Use, 2024 to 2034
Figure 20: Global Market Attractiveness by Region, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Component, 2024 to 2034
Figure 22: North America Market Value (US$ Million) by Service, 2024 to 2034
Figure 23: North America Market Value (US$ Million) by End Use, 2024 to 2034
Figure 24: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 28: North America Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 29: North America Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 30: North America Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 31: North America Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 34: North America Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 35: North America Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 36: North America Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 37: North America Market Attractiveness by Component, 2024 to 2034
Figure 38: North America Market Attractiveness by Service, 2024 to 2034
Figure 39: North America Market Attractiveness by End Use, 2024 to 2034
Figure 40: North America Market Attractiveness by Country, 2024 to 2034
Figure 41: Latin America Market Value (US$ Million) by Component, 2024 to 2034
Figure 42: Latin America Market Value (US$ Million) by Service, 2024 to 2034
Figure 43: Latin America Market Value (US$ Million) by End Use, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 51: Latin America Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 54: Latin America Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 55: Latin America Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 57: Latin America Market Attractiveness by Component, 2024 to 2034
Figure 58: Latin America Market Attractiveness by Service, 2024 to 2034
Figure 59: Latin America Market Attractiveness by End Use, 2024 to 2034
Figure 60: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 61: Western Europe Market Value (US$ Million) by Component, 2024 to 2034
Figure 62: Western Europe Market Value (US$ Million) by Service, 2024 to 2034
Figure 63: Western Europe Market Value (US$ Million) by End Use, 2024 to 2034
Figure 64: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 65: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 66: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 67: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 68: Western Europe Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 69: Western Europe Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 70: Western Europe Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 71: Western Europe Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 72: Western Europe Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 73: Western Europe Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 74: Western Europe Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 75: Western Europe Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 76: Western Europe Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 77: Western Europe Market Attractiveness by Component, 2024 to 2034
Figure 78: Western Europe Market Attractiveness by Service, 2024 to 2034
Figure 79: Western Europe Market Attractiveness by End Use, 2024 to 2034
Figure 80: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 81: Eastern Europe Market Value (US$ Million) by Component, 2024 to 2034
Figure 82: Eastern Europe Market Value (US$ Million) by Service, 2024 to 2034
Figure 83: Eastern Europe Market Value (US$ Million) by End Use, 2024 to 2034
Figure 84: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 85: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 88: Eastern Europe Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 89: Eastern Europe Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 90: Eastern Europe Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 91: Eastern Europe Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 92: Eastern Europe Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 93: Eastern Europe Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 94: Eastern Europe Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 95: Eastern Europe Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 96: Eastern Europe Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 97: Eastern Europe Market Attractiveness by Component, 2024 to 2034
Figure 98: Eastern Europe Market Attractiveness by Service, 2024 to 2034
Figure 99: Eastern Europe Market Attractiveness by End Use, 2024 to 2034
Figure 100: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 101: South Asia and Pacific Market Value (US$ Million) by Component, 2024 to 2034
Figure 102: South Asia and Pacific Market Value (US$ Million) by Service, 2024 to 2034
Figure 103: South Asia and Pacific Market Value (US$ Million) by End Use, 2024 to 2034
Figure 104: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 105: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 106: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 107: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 108: South Asia and Pacific Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 109: South Asia and Pacific Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 110: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 111: South Asia and Pacific Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 112: South Asia and Pacific Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 113: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 114: South Asia and Pacific Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 115: South Asia and Pacific Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 116: South Asia and Pacific Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 117: South Asia and Pacific Market Attractiveness by Component, 2024 to 2034
Figure 118: South Asia and Pacific Market Attractiveness by Service, 2024 to 2034
Figure 119: South Asia and Pacific Market Attractiveness by End Use, 2024 to 2034
Figure 120: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 121: East Asia Market Value (US$ Million) by Component, 2024 to 2034
Figure 122: East Asia Market Value (US$ Million) by Service, 2024 to 2034
Figure 123: East Asia Market Value (US$ Million) by End Use, 2024 to 2034
Figure 124: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 125: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 126: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 127: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 128: East Asia Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 129: East Asia Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 130: East Asia Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 131: East Asia Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 132: East Asia Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 133: East Asia Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 134: East Asia Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 135: East Asia Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 136: East Asia Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 137: East Asia Market Attractiveness by Component, 2024 to 2034
Figure 138: East Asia Market Attractiveness by Service, 2024 to 2034
Figure 139: East Asia Market Attractiveness by End Use, 2024 to 2034
Figure 140: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 141: Middle East and Africa Market Value (US$ Million) by Component, 2024 to 2034
Figure 142: Middle East and Africa Market Value (US$ Million) by Service, 2024 to 2034
Figure 143: Middle East and Africa Market Value (US$ Million) by End Use, 2024 to 2034
Figure 144: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 145: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 146: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 147: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 148: Middle East and Africa Market Value (US$ Million) Analysis by Component, 2019 to 2034
Figure 149: Middle East and Africa Market Value Share (%) and BPS Analysis by Component, 2024 to 2034
Figure 150: Middle East and Africa Market Y-o-Y Growth (%) Projections by Component, 2024 to 2034
Figure 151: Middle East and Africa Market Value (US$ Million) Analysis by Service, 2019 to 2034
Figure 152: Middle East and Africa Market Value Share (%) and BPS Analysis by Service, 2024 to 2034
Figure 153: Middle East and Africa Market Y-o-Y Growth (%) Projections by Service, 2024 to 2034
Figure 154: Middle East and Africa Market Value (US$ Million) Analysis by End Use, 2019 to 2034
Figure 155: Middle East and Africa Market Value Share (%) and BPS Analysis by End Use, 2024 to 2034
Figure 156: Middle East and Africa Market Y-o-Y Growth (%) Projections by End Use, 2024 to 2034
Figure 157: Middle East and Africa Market Attractiveness by Component, 2024 to 2034
Figure 158: Middle East and Africa Market Attractiveness by Service, 2024 to 2034
Figure 159: Middle East and Africa Market Attractiveness by End Use, 2024 to 2034
Figure 160: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The smart and connected elevator automation system market to acquire a valuation USD 13,395.64 million in 2024.
The smart and connected elevator automation system market has the potential to garner a worth of USD 30,009.33 million by 2034.
The smart and connected elevator automation system market infers a robust CAGR of 8.40% through 2034.
From 2019 to 2023, the smart and connected elevator automation system market accelerated a 6.30% HCAGR.
The industrial sector is scheduled to clutch a share of 24.30% in 2024.
The building management system segment is to seize a share of 20.50% in 2024.
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