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Technavio Expects the Global Smart Elevators Market to Register Close to USD 23 Billion by 2019According to the latest market study released by Technavio, the global smart elevators market is set to post a CAGR of over 10% by 2019. This research report titled 'Global Smart Elevators Market 2015-2019' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions. Request sample report: http://goo.gl/w5l0de The report segments the global smart elevators market into different types of end-users. They are:
Global smart elevator market in the commercial sector The global smart elevator market in the commercial sector is expected to grow at a CAGR of more than 7%, generating revenue of over USD 7 billion in 2019. In 2014, the commercial sector generated the largest proportion of revenue for the smart elevator market globally. The stagnation of the global construction market in 2008 had an impact on the commercial sector, especially shopping centers and other entertainment units. However, the occurrence of international events such as the FIFA World Cup and the Olympics Games are expected to boost demand in the construction sector globally. The government of the hosting countries, Brazil, Qatar, Russia, and South Korea, are encouraging construction companies to construct energy-efficient and smart infrastructure which can be used in the long term. "Tourism helps in the inflow of funds, helping the economy to stabilize. Smart elevators form a crucial part of smart and efficient infrastructure. The display units installed within such elevators help the occupants to be updated with current affairs," says Soumya Mutsuddi, a lead construction industry analyst at Technavio. Global smart elevator market in the residential sector The construction in the residential sector was significantly affected by the burst of the housing bubble that occurred due to the global financial crisis of 2008. The mortgage foreclosure crises were significant contributors to the global recession leading to a crash in house prices. In 2010, the market started to show modest signs of recovery, with the recovery at a single digit growth rate. With the recovery occurring in many parts of the world and initiatives taken by the governments of various countries, construction activities, particularly in the residential sector, picked up. It is one of the most crucial sectors of the construction market as it is directly affected by income levels of the population. Global smart elevator market in the other construction sectors The other construction sectors, include the public infrastructure, institutional, and industrial sectors. Apart from residential and commercial construction, which contribute considerably to the demand for elevators, other sectors of infrastructure also play a significant role in the increased adoption of elevators, especially smart elevators. Construction contractors are currently focusing on the installation of smart elevators in airports and metro stations that are under development or expansion. In existing structures, they are replacing the conventional elevators with smart ones. The top vendors highlighted by Technavio's heavy industry research analysts in this report are: Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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