Dublin, May 13, 2022 (GLOBE NEWSWIRE) -- 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.
The Saudi Arabia smart elevator market is segmented by component, speed, application, service, application, regional distribution, and competitional landscape. Based on components, the market is further sub-segmented into communication systems, maintenance systems, and control systems. The control systems are expected to dominate the Saudi Arabia smart elevator market as they provide improved security and management in crowded buildings. The control systems can be further segmented into elevator control, access control, and security control. The elevator control sub-segment is expected to register the highest growth since the feature is required for the basic functioning and maintenance of elevators.
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, and CGC Elevators & Escalators are the major players operating in the Saudi Arabia smart elevator market.
Increasing R&D initiatives for improved product performance and collaborations are the key strategies adopted by the market players to strengthen their position in 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.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Selection
4.3. Factor Influencing Purchase Decision
5. Impact of COVID -19 on Saudi Arabia Smart Elevator Market
6. Saudi Arabia Smart Elevator Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Component (Communication Systems, Maintenance System, Control Systems (Security Control, Elevator Control, Access Control))
6.2.2. By Speed (Less than 2m/s, 2-5m/s, 5.1-8m/s and Above 8 m/s)
6.2.3. By Application (Residential, Commercial, Industrial)
6.2.4. By Service (New Installation, Modernization, Maintenance)
6.2.5. By Region (Northern & Central, Southern, Eastern, Western)
6.2.6. By Company (2021)
6.3. Product Market Map
7. Saudi Arabia Residential Smart Elevator Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Component
7.2.2. By Speed
7.2.3. By Service
8. Saudi Arabia Commercial Smart Elevator Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Component
8.2.2. By Speed
8.2.3. By Service
9. Saudi Arabia Industrial Smart Elevator Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Component
9.2.2. By Speed
9.2.3. By Service
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. Pricing Analysis
14. Supply Chain Analysis
15. Saudi Arabia Economic Profile
16. Competitive Landscape
16.1. Company Profiles
16.1.1. Otis Elevator Company Saudi Arabia Limited
16.1.2. Schindler Olayan Elevators Co. Ltd
16.1.3. ThyssenKrupp Elevator Saudi Limited
16.1.4. Mitsubishi Electric Saudi Ltd.
16.1.5. Gulf Elevator & Escalator Company Ltd.
16.1.6. Khaled Juffali Elevator & Escalator Co.
16.1.7. KONE Saudi Arabia
16.1.8. Orona Elevator Co. KSA
16.1.9. Fujitec Saudi Arabia Co., Ltd.
16.1.10. Hyundai Elevator Saudi Arabia
16.1.11. Toshiba Elevator and Building Systems Corporation
16.1.12. Hitachi Elevator Saudi Arabia Limited.
16.1.13. Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO)
16.1.14. Elegant Elevators Company
16.1.15. CGC Elevators & Escalators
17. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/lto84e
