Market Executive Summary
IoT-enabled elevators utilize artificial intelligence for enabling transportation of passengers and commodities vertically.
Global IoT in Elevators market is projected to reach US$ 28890 million in 2029, increasing from US$ 14990 million in 2022, with the CAGR of 9.4% during the period of 2023 to 2029. Demand from Residential and Commercial are the major drivers for the industry.
According to data released by the National Bureau of Statistics, China's elevator production in 2022 was 1.455 million units, which was down 5.8% compared to last year. After years of development, China has become the world's largest elevator producer and consumer. More than 70% of the world's elevator manufacturing business were in Chinese mainland, and 60%-65% of the world's elevators sold in the Chinese market. According to data from the China Elevator Association, by the end of 2022, the number of elevators registered in operation in China has reached 9.65 million, and more than 15,000 elevators have been installed after acceptance.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global IoT in Elevators market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
Companies, Type, Application and Regions Listed in the Report:
By Company
ThyssenKrupp AG
KONE Corporation
Otis Elevator Company
Schindler Group
Mitsubishi Electric Corporation
Toshiba Elevator
Segment by Type
Hardware
Software
Services
Segment by Application
Residential
Commercial
Industrial
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Each chapter of the report provides detailed information for readers to understand the IoT in Elevators market further:
Chapter 1: Global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029).
Chapter 2: Product Types and Revenue analysis of Each Type in North America, Europe, Asia-Pacific, Latin America, Middle East and Africa from 2018 to 2023.
Chapter 3: Product Application and Revenue analysis of Each Application in North America, Europe, Asia-Pacific, Latin America, Middle East and Africa from 2018 to 2023.
Chapter 4: Company Competition Status, Detailed analysis of Product Name companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter 5: Companies’ Outline, covering company’s basic information, IoT in Elevators introduction, etc. IoT in Elevators Revenue and Gross Margin of each company as well as Recent Development are also contained in this part.
Chapter 6 to 10: Country Level analysis of North America, Europe, Asia-Pacific, Latin America, Middle East and Africa by revenue.
Chapter 11: Market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry.
Chapter 12: Conclusions of IoT in Elevators market based on comprehensive survey.
Chapter 13: Methodology and Data Sources adopted.
Table of Contents
1 Market Overview of IoT in Elevators
1.1 IoT in Elevators Market Overview
1.1.1 IoT in Elevators Product Scope
1.1.2 IoT in Elevators Market Status and Outlook
1.2 Global IoT in Elevators Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global IoT in Elevators Market Size by Region (2018-2029)
1.4 Global IoT in Elevators Historic Market Size by Region (2018-2023)
1.5 Global IoT in Elevators Market Size Forecast by Region (2024-2029)
1.6 Key Regions, IoT in Elevators Market Size (2018-2029)
1.6.1 North America IoT in Elevators Market Size (2018-2029)
1.6.2 Europe IoT in Elevators Market Size (2018-2029)
1.6.3 Asia-Pacific IoT in Elevators Market Size (2018-2029)
1.6.4 Latin America IoT in Elevators Market Size (2018-2029)
1.6.5 Middle East & Africa IoT in Elevators Market Size (2018-2029)
2 IoT in Elevators Market by Type
2.1 Introduction
2.1.1 Hardware
2.1.2 Software
2.1.3 Services
2.2 Global IoT in Elevators Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global IoT in Elevators Historic Market Size by Type (2018-2023)
2.2.2 Global IoT in Elevators Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America IoT in Elevators Revenue Breakdown by Type (2018-2029)
2.3.2 Europe IoT in Elevators Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific IoT in Elevators Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America IoT in Elevators Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa IoT in Elevators Revenue Breakdown by Type (2018-2029)
3 IoT in Elevators Market Overview by Application
3.1 Introduction
3.1.1 Residential
3.1.2 Commercial
3.1.3 Industrial
3.2 Global IoT in Elevators Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global IoT in Elevators Historic Market Size by Application (2018-2023)
3.2.2 Global IoT in Elevators Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America IoT in Elevators Revenue Breakdown by Application (2018-2029)
3.3.2 Europe IoT in Elevators Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific IoT in Elevators Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America IoT in Elevators Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa IoT in Elevators Revenue Breakdown by Application (2018-2029)
4 IoT in Elevators Competition Analysis by Players
4.1 Global IoT in Elevators Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in IoT in Elevators as of 2022)
4.3 Date of Key Players Enter into IoT in Elevators Market
4.4 Global Top Players IoT in Elevators Headquarters and Area Served
4.5 Key Players IoT in Elevators Product Solution and Service
4.6 Competitive Status
4.6.1 IoT in Elevators Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 ThyssenKrupp AG
5.1.1 ThyssenKrupp AG Profile
5.1.2 ThyssenKrupp AG Main Business
5.1.3 ThyssenKrupp AG IoT in Elevators Products, Services and Solutions
5.1.4 ThyssenKrupp AG IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.1.5 ThyssenKrupp AG Recent Developments
5.2 KONE Corporation
5.2.1 KONE Corporation Profile
5.2.2 KONE Corporation Main Business
5.2.3 KONE Corporation IoT in Elevators Products, Services and Solutions
5.2.4 KONE Corporation IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.2.5 KONE Corporation Recent Developments
5.3 Otis Elevator Company
5.3.1 Otis Elevator Company Profile
5.3.2 Otis Elevator Company Main Business
5.3.3 Otis Elevator Company IoT in Elevators Products, Services and Solutions
5.3.4 Otis Elevator Company IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.3.5 Schindler Group Recent Developments
5.4 Schindler Group
5.4.1 Schindler Group Profile
5.4.2 Schindler Group Main Business
5.4.3 Schindler Group IoT in Elevators Products, Services and Solutions
5.4.4 Schindler Group IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.4.5 Schindler Group Recent Developments
5.5 Mitsubishi Electric Corporation
5.5.1 Mitsubishi Electric Corporation Profile
5.5.2 Mitsubishi Electric Corporation Main Business
5.5.3 Mitsubishi Electric Corporation IoT in Elevators Products, Services and Solutions
5.5.4 Mitsubishi Electric Corporation IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.5.5 Mitsubishi Electric Corporation Recent Developments
5.6 Toshiba Elevator
5.6.1 Toshiba Elevator Profile
5.6.2 Toshiba Elevator Main Business
5.6.3 Toshiba Elevator IoT in Elevators Products, Services and Solutions
5.6.4 Toshiba Elevator IoT in Elevators Revenue (US$ Million) & (2018-2023)
5.6.5 Toshiba Elevator Recent Developments
6 North America
6.1 North America IoT in Elevators Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe IoT in Elevators Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific IoT in Elevators Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America IoT in Elevators Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa IoT in Elevators Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 IoT in Elevators Market Dynamics
11.1 IoT in Elevators Industry Trends
11.2 IoT in Elevators Market Drivers
11.3 IoT in Elevators Market Challenges
11.4 IoT in Elevators Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
List of Figures
List of Tables
Table 1. Global Market IoT in Elevators Market Size (US$ Million) Comparison by Region 2018 VS 2022 VS 2029
Table 2. Global IoT in Elevators Market Size by Region (2018-2023) & (US$ Million)
Table 3. Global IoT in Elevators Market Size Share by Region (2018-2023)
Table 4. Global IoT in Elevators Forecasted Market Size by Region (2024-2029) & (US$ Million)
Table 5. Global IoT in Elevators Forecasted Market Size Share by Region (2024-2029)
Table 6. Global IoT in Elevators Market Size (US$ Million) by Type: 2018 VS 2022 VS 2029
Table 7. Global IoT in Elevators Market Size by Type (2018-2023) & (US$ Million)
Table 8. Global IoT in Elevators Revenue Market Share by Type (2018-2023)
Table 9. Global IoT in Elevators Forecasted Market Size by Type (2024-2029) & (US$ Million)
Table 10. Global IoT in Elevators Revenue Market Share by Type (2024-2029)
Table 11. North America IoT in Elevators Revenue by Type (2018-2023) & (US$ Million)
Table 12. North America IoT in Elevators Revenue by Type (2024-2029) & (US$ Million)
Table 13. Europe IoT in Elevators Revenue by Type (2018-2023) & (US$ Million)
Table 14. Europe IoT in Elevators Revenue by Type (2024-2029) & (US$ Million)
Table 15. Asia-Pacific IoT in Elevators Revenue by Type (2018-2023) & (US$ Million)
Table 16. Asia-Pacific IoT in Elevators Revenue by Type (2024-2029) & (US$ Million)
Table 17. Latin America IoT in Elevators Revenue by Type (2018-2023) & (US$ Million)
Table 18. Latin America IoT in Elevators Revenue by Type (2024-2029) & (US$ Million)
Table 19. Middle East and Africa IoT in Elevators Revenue by Type (2018-2023) & (US$ Million)
Table 20. Middle East and Africa IoT in Elevators Revenue by Type (2024-2029) & (US$ Million)
Table 21. Global IoT in Elevators Market Size (US$ Million) by Application: 2018 VS 2022 VS 2029
Table 22. Global IoT in Elevators Market Size by Application (2018-2023) & (US$ Million)
Table 23. Global IoT in Elevators Revenue Market Share by Application (2018-2023)
Table 24. Global IoT in Elevators Forecasted Market Size by Application (2024-2029) & (US$ Million)
Table 25. Global IoT in Elevators Revenue Market Share by Application (2024-2029)
Table 26. North America IoT in Elevators Revenue by Application (2018-2023) & (US$ Million)
Table 27. North America IoT in Elevators Revenue by Application (2024-2029) & (US$ Million)
Table 28. Europe IoT in Elevators Revenue by Application (2018-2023) & (US$ Million)
Table 29. Europe IoT in Elevators Revenue by Application (2024-2029) & (US$ Million)
Table 30. Asia-Pacific IoT in Elevators Revenue by Application (2018-2023) & (US$ Million)
Table 31. Asia-Pacific IoT in Elevators Revenue by Application (2024-2029) & (US$ Million)
Table 32. Latin America IoT in Elevators Revenue by Application (2018-2023) & (US$ Million)
Table 33. Latin America IoT in Elevators Revenue by Application (2024-2029) & (US$ Million)
Table 34. Middle East and Africa IoT in Elevators Revenue by Application (2018-2023) & (US$ Million)
Table 35. Middle East and Africa IoT in Elevators Revenue by Application (2024-2029) & (US$ Million)
Table 36. Global IoT in Elevators Revenue (US$ Million) by Players (2018-2023)
Table 37. Global IoT in Elevators Revenue Market Share by Players (2018-2023)
Table 38. Global Top Players Market Share by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in IoT in Elevators as of 2022)
Table 39. Date of Key Players Enter into IoT in Elevators Market
Table 40. Global IoT in Elevators Key Players Headquarters and Area Served
Table 41. IoT in Elevators Product Solution and Service
Table 42. Global IoT in Elevators Players Market Concentration Ratio (CR5 and HHI)
Table 43. Mergers & Acquisitions, Expansion Plans
Table 44. ThyssenKrupp AG Basic Information List
Table 45. ThyssenKrupp AG Description and Business Overview
Table 46. ThyssenKrupp AG IoT in Elevators Products, Services and Solutions
Table 47. Revenue (US$ Million) in IoT in Elevators Business of ThyssenKrupp AG (2018-2023)
Table 48. ThyssenKrupp AG Recent Developments
Table 49. KONE Corporation Basic Information List
Table 50. KONE Corporation Description and Business Overview
Table 51. KONE Corporation IoT in Elevators Products, Services and Solutions
Table 52. Revenue (US$ Million) in IoT in Elevators Business of KONE Corporation (2018-2023)
Table 53. KONE Corporation Recent Developments
Table 54. Otis Elevator Company Basic Information List
Table 55. Otis Elevator Company Description and Business Overview
Table 56. Otis Elevator Company IoT in Elevators Products, Services and Solutions
Table 57. Revenue (US$ Million) in IoT in Elevators Business of Otis Elevator Company (2018-2023)
Table 58. Otis Elevator Company Recent Developments
Table 59. Schindler Group Basic Information List
Table 60. Schindler Group Description and Business Overview
Table 61. Schindler Group IoT in Elevators Products, Services and Solutions
Table 62. Revenue (US$ Million) in IoT in Elevators Business of Schindler Group (2018-2023)
Table 63. Schindler Group Recent Developments
Table 64. Mitsubishi Electric Corporation Basic Information List
Table 65. Mitsubishi Electric Corporation Description and Business Overview
Table 66. Mitsubishi Electric Corporation IoT in Elevators Products, Services and Solutions
Table 67. Revenue (US$ Million) in IoT in Elevators Business of Mitsubishi Electric Corporation (2018-2023)
Table 68. Mitsubishi Electric Corporation Recent Developments
Table 69. Toshiba Elevator Basic Information List
Table 70. Toshiba Elevator Description and Business Overview
Table 71. Toshiba Elevator IoT in Elevators Products, Services and Solutions
Table 72. Revenue (US$ Million) in IoT in Elevators Business of Toshiba Elevator (2018-2023)
Table 73. Toshiba Elevator Recent Developments
Table 74. North America IoT in Elevators Market Size by Country (2018-2023) & (US$ Million)
Table 75. North America IoT in Elevators Market Size by Country (2024-2029) & (US$ Million)
Table 76. Europe IoT in Elevators Market Size by Country (2018-2023) & (US$ Million)
Table 77. Europe IoT in Elevators Market Size by Country (2024-2029) & (US$ Million)
Table 78. Asia-Pacific IoT in Elevators Market Size Growth Rate (CAGR) by Region (US$ Million): 2018 VS 2022 VS 2029
Table 79. Asia-Pacific IoT in Elevators Market Size by Region (2018-2023) & (US$ Million)
Table 80. Asia-Pacific IoT in Elevators Market Size by Region (2024-2029) & (US$ Million)
Table 81. Asia-Pacific IoT in Elevators Market Share by Region (2018-2023)
Table 82. Asia-Pacific IoT in Elevators Market Share by Region (2024-2029)
Table 83. Latin America IoT in Elevators Market Size Growth Rate (CAGR) by Region (US$ Million): 2018 VS 2022 VS 2029
Table 84. Latin America IoT in Elevators Market Size by Country (2018-2023) & (US$ Million)
Table 85. Latin America IoT in Elevators Market Size by Country (2024-2029) & (US$ Million)
Table 86. Middle East & Africa IoT in Elevators Market Size Growth Rate (CAGR) by Region (US$ Million): 2018 VS 2022 VS 2029
Table 87. Middle East & Africa IoT in Elevators Market Size by Country (2018-2023) & (US$ Million)
Table 88. Middle East & Africa IoT in Elevators Market Size by Country (2024-2029) & (US$ Million)
Table 89. IoT in Elevators Market Trends
Table 90. IoT in Elevators Market Drivers
Table 91. IoT in Elevators Market Challenges
Table 92. IoT in Elevators Market Restraints
Table 93. Research Programs/Design for This Report
Table 94. Key Data Information from Secondary Sources
Table 95. Key Data Information from Primary Sources
List of Figures
Figure 1. Global IoT in Elevators Market Size Year-over-Year 2018-2029 & (US$ Million)
Figure 2. Global IoT in Elevators Market Size (US$ Million), 2018 VS 2022 VS 2029
Figure 3. Global IoT in Elevators Market Share by Regions: 2022 VS 2029
Figure 4. Global IoT in Elevators Forecasted Market Size Share by Region (2024-2029)
Figure 5. North America IoT in Elevators Market Size Growth Rate (2018-2029) & (US$ Million)
Figure 6. Europe IoT in Elevators Market Size Growth Rate (2018-2029) & (US$ Million)
Figure 7. Asia-Pacific IoT in Elevators Market Size Growth Rate (2018-2029) & (US$ Million)
Figure 8. Latin America IoT in Elevators Market Size Growth Rate (2018-2029) & (US$ Million)
Figure 9. Middle East & Africa IoT in Elevators Market Size Growth Rate (2018-2029) & (US$ Million)
Figure 10. Product Picture of Hardware
Figure 11. Global Hardware Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 12. Product Picture of Software
Figure 13. Global Software Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 14. Product Picture of Services
Figure 15. Global Services Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 16. Global IoT in Elevators Market Size Share by Type: 2022 & 2029
Figure 17. North America IoT in Elevators Revenue Market Share by Type (2018-2029)
Figure 18. Europe IoT in Elevators Revenue Market Share by Type (2018-2029)
Figure 19. Asia-Pacific IoT in Elevators Revenue Market Share by Type (2018-2029)
Figure 20. Latin America IoT in Elevators Revenue Market Share by Type (2018-2029)
Figure 21. Middle East and Africa IoT in Elevators Revenue Market Share by Type (2018-2029)
Figure 22. Residential Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 23. Commercial Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 24. Industrial Market Size (US$ Million) & YoY Growth (2018-2029)
Figure 25. Global IoT in Elevators Market Size Share by Application: 2022 & 2029
Figure 26. North America IoT in Elevators Revenue Market Share by Application (2018-2029)
Figure 27. Europe IoT in Elevators Revenue Market Share by Application (2018-2029)
Figure 28. Asia-Pacific IoT in Elevators Revenue Market Share by Application (2018-2029)
Figure 29. Latin America IoT in Elevators Revenue Market Share by Application (2018-2029)
Figure 30. Middle East and Africa IoT in Elevators Revenue Market Share by Application (2018-2029)
Figure 31. IoT in Elevators Market Share by Company Type (Tier 1, Tier 2 and Tier 3): 2018 VS 2022
Figure 32. Global Top 5 and Top 10 Players IoT in Elevators Market Share in 2022
Figure 33. North America IoT in Elevators Market Share by Country (2018-2029)
Figure 34. U.S. IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 35. Canada IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 36. Germany IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 37. France IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 38. U.K. IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 39. Italy IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 40. Russia IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 41. Nordic Countries IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 42. Asia-Pacific IoT in Elevators Market Share by Region (2018-2029)
Figure 43. China IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 44. Japan IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 45. South Korea IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 46. Southeast Asia IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 47. India IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 48. Australia IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 49. Latin America IoT in Elevators Market Share by Country (2018-2029)
Figure 50. Mexico IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 51. Brazil IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 52. Middle East & Africa IoT in Elevators Market Share by Country (2018-2029)
Figure 53. Turkey IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 54. Saudi Arabia IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 55. UAE IoT in Elevators Market Size (2018-2029) & (US$ Million)
Figure 56. Bottom-up and Top-down Approaches for This Report
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