May 11, 2022   SOURCE: BusinessWire

Insights on the Smart Elevator Saudi Arabian Market to 2027 - Development of Advanced and Intelligent Residential Complexes is Contributing to Growth - ResearchAndMarkets.com

The "Saudi Arabia Smart Elevator Market, By Component (Communication Systems, Maintenance System, Control Systems (Security Control, Elevator Control, Access Control)), By Speed, By Application, By Service, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia smart elevator market is expected to register significant growth during the forecast period. The growth can be attributed to the rising demands for smart infrastructure and a growing number of technological advancements for improved product performance.

Additionally, the development of advanced and intelligent residential complexes is contributing to the growth of the Saudi Arabia smart elevator market. The inclusion of smart technologies such as virtual reality, predictive cloud maintenance, artificial intelligence, etc., in elevators to identify future needs accurately and adoption of cable-free lifts are anticipated to drive the growth of Saudi Arabia smart elevator market.

Increased spending capabilities of customers and improved global economies have led to the installation of smart elevators for enhanced mobility experiences, advanced security, and high energy efficiency, encouraging the growth of Saudi Arabia smart elevator market.

The commercial usage of smart elevators accounts for one-third of the total market revenue, and their increasing use in institutional buildings is expected to encourage the growth of Saudi Arabia smart elevator market. High initial costs for installation of smart elevators, timely maintenance, and after-sales services could restrict the growth of Saudi Arabia smart elevator market.

Years considered for this report:

  • Historical Years: 2017-2020
  • Base Year: 2021
  • Estimated Year: 2022E
  • Forecast Period: 2023F-2027F

Objective of the Study:

  • To analyze the historical growth in the market size of Saudi Arabia smart elevator market from 2017 to 2021.
  • To estimate and forecast the market size of Saudi Arabia smart elevator market from 2022E to 2027F and growth rate until 2027F.
  • To classify and forecast Saudi Arabia smart elevator market based on component, speed, application, service, competitional landscape, and regional distribution.
  • To identify dominant region or segment in the Saudi Arabia smart elevator market.
  • To identify drivers and challenges for Saudi Arabia smart elevator market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia smart elevator market.
  • To identify and analyze the profile of leading players operating in Saudi Arabia smart elevator market.
  • To identify key sustainable strategies adopted by market players in Saudi Arabia smart elevator market.

Report Scope:

In this report, Saudi Arabia smart elevator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Smart Elevator Market, By Component:

  • Communication Systems
  • Maintenance System
  • Control Systems (Security Control, Elevator Control, Access Control)

Saudi Arabia Smart Elevator Market, By Speed:

  • Less than 2m/s
  • 2-5m/s
  • 5.1-8m/s
  • Above 8 m/s

Saudi Arabia Smart Elevator Market, By Application:

  • Residential
  • Commercial
  • Industrial

Saudi Arabia Smart Elevator Market, By Service:

  • New Installation
  • Modernization
  • Maintenance

Saudi Arabia Smart Elevator Market, By Region:

  • Northern & Central
  • Southern
  • Eastern
  • Western

Companies Mentioned

  • Otis Elevator Company Saudi Arabia Limited
  • Schindler Olayan Elevators Co. Ltd
  • ThyssenKrupp Elevator Saudi Limited
  • Mitsubishi Electric Saudi Ltd.
  • Gulf Elevator & Escalator Company Ltd.
  • Khaled Juffali Elevator & Escalator Co.
  • KONE Saudi Arabia
  • Orona Elevator Co. KSA
  • Fujitec Saudi Arabia Co., Ltd.
  • Hyundai Elevator Saudi Arabia
  • Toshiba Elevator And Building Systems Corporation
  • Hitachi Elevator Saudi Arabia Limited.
  • Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO)
  • Elegant Elevators Company
  • CGC Elevators & Escalators

For more information about this report visit https://www.researchandmarkets.com/r/1odmsc