Smart elevators operate by the user pushing a button setting their destination, and then an indicator directing them to the elevator that will take them their in the shortest amount of time. This is faster and more efficient, reducing costs and potentially, the number, size or speed of elevators required. They can be programmed to adopt different operating modes at different times of the day, and can recognize user by key cards that may include destination and permissions information.
Smart elevators and also smart escalators my also include monitoring technology to help schedule maintenance and repairs.
Smart elevators and escalators are installed in mixed-used buildings, hotels, commercial buildings, IT parks, residential buildings, restaurants and retail outlets among others.
China is the largest market for smart elevators and escalators globally. The ageing population in countries such as Japan and China among others is a key factor driving the smart elevators and escalators market. Other factors include an increase in population, changing demographics, urbanization and growth in the construction sector, particularly in rising economies such as India, Japan and China
In addition, installation of smart elevators and escalators is becoming more common in low-rise, mid-rise and high-rise buildings.There is significant demand in five star hotels, high-rise apartments, luxury apartments, luxury condominiums and office buildings in India, China and Mexico.
The major factor restraining the global smart elevators and escalators market is low replacement rate due to high costs. Key factors affecting the prices of smart elevators and escalators include a cost intensive product certification process and the high and volatile prices of raw materials.
The smart escalators and elevators market is dominated by the elevators segment. The elevators market can be sub divided into elevator capacity types 450 – 1,150 kg, 1,150kg-1,500kg, 1,500kg-2,000kg and others. The escalators market is sub divided into moving walkway escalators and moving stairs.
By application the market is segmented into eight types: commercial, hotels, retail, residential, transportation, hospital, parking building and others. The market is dominated by the transportation segment, followed by residential applications. Transportation segment dominates the smart escalators and elevators market globally.