Global Smart Elevator Automation System Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Service;

Installation, Repair & Maintenance, and Modernisation.

By Component;

Card Reader, Biometric, Touchscreen & Keypad, Security & Control System, Sensor, Motor & Automation System, and Building Management System.

By End User;

Residential Sector, Commercial Sector, Hotel, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn558347421 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Smart Elevator Automation System Market (USD Million), 2021 - 2031

In the year 2024, the Global Smart Elevator Automation System Market was valued at USD 27,665.41 million. The size of this market is expected to increase to USD 107,514.71 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 21.4%.

The global smart elevator automation system market is experiencing rapid growth as the demand for advanced, efficient, and sustainable building technologies continues to rise. Smart elevators, integrated with automation systems, offer enhanced features such as improved energy efficiency, real-time monitoring, and advanced user interfaces. These systems are designed to optimize elevator performance by using advanced sensors, artificial intelligence (AI), machine learning, and Internet of Things (IoT) connectivity to provide seamless, personalized, and efficient service to building occupants. The growing focus on automation and digitization in the construction and real estate sectors has fueled the adoption of smart elevators, making them a critical component of modern building infrastructure.

Several factors contribute to the expansion of the smart elevator automation system market, including increasing urbanization, the rise in high-rise buildings, and the growing need for energy-efficient solutions. As cities continue to grow, especially in emerging economies, the demand for vertical transportation systems in commercial, residential, and industrial buildings is surging. Smart elevator systems help optimize space and energy usage, improve safety features, and reduce wait times, making them an attractive choice for building owners and developers. Additionally, as regulations around sustainability and energy efficiency become stricter, the ability of smart elevators to contribute to green building certifications (like LEED) further drives their adoption.

Technological innovations, such as touchless controls, predictive maintenance, and advanced communication systems, are revolutionizing the smart elevator automation market. These systems are not only designed for optimal operational efficiency but also enhance user convenience and safety, integrating with building management systems (BMS) for real-time performance analytics and maintenance scheduling. The increasing shift toward smart buildings that leverage IoT technologies for integrated control of various systems, including lighting, HVAC, and security, is also boosting the smart elevator market. With ongoing advancements in technology, the market for smart elevator automation systems is poised to grow significantly, providing long-term benefits such as cost savings, reduced maintenance, and improved user experiences across diverse building types.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Service
    2. Market Snapshot, By Component
    3. Market Snapshot, By End User
    4. Market Snapshot, By Region
  4. Global Smart Elevator Automation System Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing urbanization
        2. Growing adoption of smart building technologies
      2. Restraints
        1. High initial cost
        2. Lack of awareness
      3. Opportunities
        1. Technological advancements
        2. Expansion into new markets
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Global Smart Elevator Automation System Market, By Service, 2021 - 20336(USD Million)
      1. Installation
      2. Repair & Maintenance
      3. Modernisation
    2. Global Smart Elevator Automation System Market, By Component, 2021 - 2031 (USD Million)
      1. Card Reader
      2. Biometric
      3. Touchscreen & Keypad
      4. Security & Control System
      5. Sensor, Motor & Automation System
      6. Building Management System
    3. Global Smart Elevator Automation System Market, By End User, 2021 - 2031 (USD Million)
      1. Residential Sector
      2. Commercial Sector
      3. Hotel
      4. Others
    4. Global Smart Elevator Automation System Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Fujitec Co.Ltd
      2. Mitsubishi Electric Corporation
      3. Hitachi Ltd
      4. Kone Corporation
  7. Analyst Views
  8. Future Outlook of the Market