HOME Research Insight Elevator Industry to be Revolutionized with concepts of Green Engineering and Smart Elevators



Elevator Industry to be Revolutionized with concepts of Green Engineering and Smart Elevators


Smart Elevator Market includes sensor and controllers, motors and drives, building management system. Operating panels, electronic equipment, and landing system are covered under elevator modernization.

The demand for energy efficient solution, security and improved individual standards has propelled the growth in elevator access controls, automation and modernization market. Organizations are now more attentive to equip themselves from threats and increased need to safeguard their properties. The integration of access controls in elevators, not only restricts unauthorized access to the office or building premises but also to take centralized controls and monitor the area. Better control, higher speed, and reduction in operating cost need special attention with respect to the various components in elevators such as sensors, motors, lighting, door access, operating panels, and mechanical system. Utmost consideration needs to be given while integrating with the other security measures such as fire, alarm, and surveillance as the safety of the individual is on stake. As an elevator gets older, maintenance and service repair become a common phenomenon. That is when the elevator needs complete or partial overhaul and modernization comes into act. It is a more cost-effective solution to that of a new installation. Removing the old worn component in elevator will enhance the reliability and performance.Elevator modernization increases safety, improves traffic flow and enhances the aesthetic appearance of an elevator. Energy-efficient, reliable systems combined with modern, stylish interiors naturally add to a building’s value.

The developed economies such North America and Europe are gradually stabling from global slowdown, shows healthy signs of recovery and improved investor sentiments will pull the market in the region. However, APAC where surge in construction industry will continue be a driving factor.The overall market of elevator access controls and security, automation and modernization market is growing at an estimated CAGR of 10.5% from 2013 to 2018 and expected to reach $16.45 billion by 2018.

Green engineering and Smart Elevator Market has revolutionized industry by reducing the operational time, enhance the user commuting experience and offers personalized service with enhanced security. The elevator embedded with control traffic management system and high tech grouping system brings higher level of security, increase operational efficiency and reliability in an elevators. Urbanization also plays a pivotal role, as people are looking for more reliable, convenient, and user-friendly system that eliminates human efforts.

The government safety regulation mandates and energy conservation will lead the elevator automation and modernizationmarket in growth phase in industry cycle while the high cost and low adoption can prove to be the restraining factors for the elevator access controls and security industry, though for a shorter timeline. Apart from the elevator manufacturers, the market is a golden basket for access controls providers, component makers and system integrators.

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