Smart Elevator Automation System Market, By Service (Installation Service, Repair & Maintenance Service, Modernization Service), By Component (Card Reader, Biometric, Touch Screen and Keypad, Security and Control System, Sensors, Motors and Automation System, Building Management System), By End User (Residential Sector, Commercial Sector), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : May 2023

Code : CMI4832

Pages :170

Formats :

Excel and PDF

Industry : Smart Technologies

Market News

Global Smart Elevator Automation System Market: Key Developments

For instance, in March 2021, Otis expanded its smart elevator product line when it introduced its newly developed Smart Gen3TM elevator. Otis will target prominent Chinese construction industry vendors looking to acquire elevators for their upcoming infrastructure projects. Due to the growing trend of green development in China's construction industry, the company has strategically targeted this particular market. The product will operate with ease for elevator occupants thanks to cloud-based Internet of Things technology.

June 2021, In order to speed up their collaboration on the Elevator Digital Transformation (DX) Expansion business, Hyundai Elevators and KT completed and signed a memorandum of understanding (MoU). In order to boost their elevator portfolio development by incorporating AI technology, automatic driving robots, and voice recognition into its elevators, the memorandum of understanding was duly signed. The improvement of these lifts will direct development of Hyundai Lifts in savvy lift market.

In April 2021, For the purpose of synchronizing the design and development of elevators and delivery robots, Hyundai Elevators has entered into a partnership with Woowa Brothers. A wide range of industries, including hotels, residential apartments, and commercial facilities, will benefit from these elevators and delivery robots.

In March 2021, digitally connected elevators have been introduced by Kone Elevator India, a wholly owned subsidiary of the Finland-based KONE Corporation to offer a novel product known as a smart elevator. In the world's second-largest and most lucrative elevator market, the product has the potential to entice a large number of buyers. The product improves elevator person flow management and offers enhanced built-in connectivity.