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Smart Elevators Market worth USD 38.27 Billion at 9.1% CAGR by 2027

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Pune, India, Nov. 23, 2021 (GLOBE NEWSWIRE) — Global smart elevator market size is expected to gain momentum by exhibiting a CAGR of 9.1% between 2020 and 2027. This is attributable to the increasing focus on introducing autonomous technology and the surging demand for efficient elevators across construction sector that reduce operational costs across the globe. Fortune Business Insights, in its latest report, titled, “Smart Elevator Market Size, Share & COVID-19 Impact Analysis, By Setup (New Deployment, Modernization and Maintenance), By Installation (Low & Mid Rise and High Rise), By Carriage (Passenger and Freight), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 18.75 billion in 2019 and is projected to reach USD 38.27 billion by 2027.

Request a Sample Copy of Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/smart-elevator-market-102369

List of the Companies Operating in the Market:

  • KONE CORPORATION (Espoo, Finland)
  • Otis Elevator Company (Connecticut, USA)
  • Schindler (Ebikon, Switzerland)
  • thyssenkrupp Elevator Technology (Essen, Germany)
  • Hitachi Ltd. (Ibaraki, Japan)
  • Mitsubishi Electric Corporation (Tokyo, Japan)
  • Bosch Security Systems (Grasbrunn, Germany)
  • Fujitec Co. Ltd. (Hikone, Japan)
  • Toshiba Elevator and Building Systems Corporation (Tokyo, Japan)
  • HYUNDAI ELEVATOR CO., LTD. (Gyeonggi-do, South Korea)
  • Johnson Controls Inc. (Cork, Ireland)
  • Motion Control Engineering (Alaska, United States)

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2020 to 2027 CAGR 9.1 %
2027 Value Projection USD 38.27 Billion
Base Year 2019
Market Size in 2019 USD 18.75 Billion
Historical Data for 2016 to 2018
No. of Pages 160
Segments covered Size, Setup, Installation, Application, Geography
Growth Drivers Growing Automation in Elevating Systems is Contributing to the Growth of the Market
Increasing Demand for Energy Efficient Elevators to Promote Growth
High-rise Buildings Segment is Expected to Grow Significantly
Pitfalls & Challenges High Cost of Investment to Hinder the Market

COVID-19 Effect: Halting of Several On-going Construction Projects to Hinder Growth

The global economy is facing turbulent time as the COVID-19 pandemic has resulted in a complete halt of services and operations across several industries. The construction sector is among the worst hit. Owing to the stringent measures undertaken by the government agencies globally to curb the spread of the disease, the workers are under quarantine leading to the halt of the constructional activities. This is expected to restrain market growth to some extent. However, adhering to the government advisory and practicing strict safety regulations, the industry is witnessing resumption of work with a limited workforce that will lead to the market gaining traction in the near future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit: https://www.fortunebusinessinsights.com/smart-elevator-market-102369

Smart elevators are specially designed to improve the act of travelling between floors across buildings and other constructional institutions. The increasing adoption of modern technology is driving the demand for inter-connected elevators to improve efficiency and reduce costs. Additionally, these elevators are monitored and controlled through smart connectivity that aid in reducing the waiting and travelling time across buildings.

What does the Report Include?

The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by companies to maintain market stronghold between 2020 and 2027.

Speak To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/smart-elevator-market-102369

DRIVING FACTORS

Increasing Autonomy in Elevator Systems to Favor Growth

Today, the emergence of advanced technologies such as machine learning, the internet of things (IoT), and artificial intelligence (AI) is propelling the manufacturers to phase out old conventional elevators and introduce advanced smart elevators. Conventional elevators consume a high amount of energy, along with high operational costs. However, the introduction of autonomous technology such as destination selection control (DSC) allows the users to reach their destination in minimal time and further saves huge operational costs. Additionally, it improves the passenger handling capacity by about 30% while consuming less energy.

Therefore, the increasing demand for autonomy across the construction sector to reduce operational costs and improve productivity is expected to boost the global smart elevators market growth during the forecast period.

SEGMENTATION

New Deployment Segment Held a Market Share of 41.7% in 2019

The new deployment segment, based on by setup, is anticipated to showcase considerable growth owing to the increasing demand for energy consumption that is driving the demand for these elevators globally. The segment held a market share of about 41.7% in 2019.

REGIONAL INSIGHTS

North America to Remain Dominant; Increasing Focus on Developing Advanced Infrastructure to Surge Demand

Among all the regions, North America stood at USD 6.33 billion in 2019 and is expected to hold the highest position in the global smart elevator market in the forthcoming years. This is ascribable to factors such as increasing focus on developing advanced infrastructure by the manufacturers that is propelling the demand for these elevators in the region.

The market in Asia-Pacific is expected to experience an exponential growth owing to the increasing focus on restructuring old elevators with innovative and advanced smart elevators in countries such as China, India, and Japan between 2020 and 2027.

COMPETITIVE LANDSCAPE

KONE Launches IoT-enabled Smart Elevator to Boost Sales Revenue & Strengthen its Market Position

The global market is consolidated by the presence of major companies that are striving to strengthen their position by introducing innovative products to further boost their sales revenue. For instance, in September 2019, KONE announced the launch of its new smart elevator system, KONE CareTM that is equipped with internet of things (IoT) technology to enable faster and sophisticated elevator service in India.  The adoption of strategies such as merger and acquisition, collaboration, and partnership by key players is further anticipated to drive the market growth during the forecast period.

Quick Buy: Smart Elevators Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102369

Industry Development:

  • March 2020 – Picovoice, a voice technology startup, announced the launch of its new voice-controlled elevator and intercom system. According to the company, the voice control systems in these elevators are designed to be easy to operate and hygienic in the wake of the recent COVID-19 pandemic.

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
    • PESTLE Analysis
    • Global Market Share Analysis and Matrix, 2019
  • Key Market Insights and Analysis, By Segments
  • Global Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
    • By Setup (Value)
      • New Deployment
      • Modernization
      • Maintenance
    • By Installation (Value)
      • Low & Mid Rise
      • High-Rise
    • By Carriage Type (Value)
      • Passenger
      • Freight
    • By Application (Value)
      • Residential
      • Commercial
      • Industrial
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Smart Elevator Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
    • By Setup (Value)
      • New Deployment
      • Modernization
      • Maintenance
    • By Installation (Value)
      • Low & Mid Rise
      • High-Rise
    • By Carriage Type (Value)
      • Passenger
      • Freight
    • By Application (Value)
      • Residential
      • Commercial
      • Industrial
    • By Country (Value)
      • United States
      • Canada

TOC Continued…!

Have a Look at Related Research Insights:  

Waterjet Cutting Machine Market Size, Share & Industry Analysis, By Type (Micro Waterjet Cutting Machine & Robotics Waterjet Cutting Machine), By Technology (Pure & Abrasive), By Pressure Range (Less than 4200&4200 and above), By Pump Type (Direct Drive Pumps & Hydraulic Intensifier Pumps), By Industry (Aerospace & Defense, Automotive, Electronics, Energy & Power, Metal Fabrication, Rubber & Plastic and Others) and Regional Forecast, 2020-2027

Industrial Robots Market Size, Share & COVID-19 Impact Analysis, By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel and Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, and Others), By Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, and Others), and Regional Forecast, 2021-2028

Autonomous Mobile Robots Market Size, Share & COVID-19 Impact Analysis, By Type (Goods-to-person Picking Robots, Self-driving Forklifts, Autonomous Inventory Robots, and Unmanned Aerial Vehicles), By Application (Sorting, Pick & Place, Tugging, Warehouse Fleet Management and Others), By End-User (Warehouse & Distribution Centers and Manufacturing) and Regional Forecast, 2021-2028

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

RepTrak Announces 2024 Global RepTrak® 100 Report

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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.

After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost

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SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.

“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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Malaysia Data Center Market to Witness $3.97 Billion Investment Opportunities by 2029, Get Insights on 34 Existing Data Centers and 33 Upcoming Facilities across Malaysia – Arizton

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CHICAGO, April 18, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Malaysia data center market is growing at a CAGR of 13.92% during the forecast period.

To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Malaysia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 3.97 Billion (2029)
Market Size (Area)
883 Thousand Sq. Feet (2029)
Market Size (Power Capacity)
163 MW (2029)
CAGR Investment (2023-2029)
13.92 %
Colocation Market Size (Revenue)
USD 1.23 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Over the next few years, Malaysia is poised to witness significant growth in data center investments, driven by the influx of operators like AirTrunk, Equinix, Princeton Digital Group, and other leading companies. Key hubs like Cyberjaya, Kuala Lumpur, and Johor Bahru are expected to see heightened activity, hosting most of the country’s data centers.
The wholesale colocation sector is projected to experience a revenue surge fueled by major cloud players like Microsoft, Google, and AWS. These companies have unveiled plans to establish dedicated cloud regions within Malaysia, with expected timelines for deployment within the next one to two years. This trend underscores Malaysia’s growing importance as a regional hub for data infrastructure and cloud services.
Malaysia is among the top expensive markets globally for developing data centers. Malaysia’s data center construction cost in 2023 stood at about $8.5-$10 million per MW, making it the costliest market in the APAC region after Singapore and Jakarta.
Investment Opportunities in the Malaysia Data Center Market
In November 2023, ST Telemedia Global Data Centres announced its plans to develop a new data center campus in Johor. The construction of the first building is likely to begin soon and become operational by 2025. The company formed a joint venture with Basis Bay to develop a new data center campus with two buildings, Cyberjaya DC.2 and STT Kuala Lumpur 1 in Cyberjaya, Selangor.In October 2023, EDGNEX Data Centres by DAMAC announced its plans to enter the APAC market for the first time; the company is considering a facility in Cyberjaya, Selangor. The expected investment can cross the $52 million mark.In October 2023, Infinaxis Data Centre Holdings, the joint venture between Gaw Capital Partners and A3 Capital, announced the construction of its first data center facility in Cyberjaya. The facility will have 10 data halls and will likely be operational by Q2 2025.In September 2023, EdgeConneX announced its plans to expand its footprint in Malaysia with the development of three data centers sites across Bukit Jalil, Kuala Lumpur, and Cyberjaya. The company plans to develop data centers in partnership with Cyberview.To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Market Trends
According to IRENA, in 2022, hydroenergy accounted for around 69% of the renewable energy capacity in Malaysia, followed by solar energy, which contributed about 21%, along with a 10% contribution by bioenergy.Malaysia aims to achieve the target of net-zero carbon emissions by 2050. To make this goal a reality, WWF-Malaysia is partnering with Boston Consulting Group to develop an independent joint study on the country’s optimal net zero pathway.The government of Malaysia has established a green tariff scheme to support its carbon-neutrality target. Under the scheme, subscribers can get electricity from solar or hydro sources instead of fossil fuel sources.Mergers, acquisitions, joint ventures, and partnerships are key strategies employed by operators to expand their portfolios and global footprint. For example:
In December 2023, Chindata Group merged with BCPE Chivalry Merger Sub, a wholly owned subsidiary of BCPE Chivalry Bidco, completing its transition to a private company from a public one.November 2023 saw ST Telemedia Global Data Centres, in a joint venture with Basis Bay, announcing plans to develop a new data center campus with two buildings in Cyberjaya, Selangor.A3 Capital and Gaw Capital Partners formed a joint venture in February 2023 to establish Infinaxis Data Centre Holdings to develop and operate data centers across Malaysia and Southeast Asia.MN Holdings, an engineering services and solutions company, signed a Memorandum of Understanding (MoU) in April 2023 with Shanghai DC-Science, outlining an investment of approximately $600 million to develop a data center site at the Sedenak Tech Park, Johor.Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and Malaysia colocation market revenue.An assessment of the data center investment in Malaysia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Malaysia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in MalaysiaFacilities Covered (Existing): 34Facilities Identified (Upcoming): 33Coverage: 9 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in MalaysiaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe Malaysia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Post-Purchase Benefit                             
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Tower and Dry CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IV GeographySelangorJohorOther StatesVendor Landscape
IT Infrastructure Providers
Cisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseHuawei TechnologiesIBMInspurLenovoNetAppData Center Construction Contractors & Sub-Contractors
Advance Power EngineeringAsima ArchitectsAVO TechnologyB-Global TechCTC-GlobalCSF GroupCyclect GroupDSCO GroupGamudaGCM TechnologiesHSS EngineersISGKienta Engineering ConstructionLSK EngineeringMES GroupM+W Group (Exyte)MN HoldingsNakanoNTT FACILITIESPowerware SystemsS5 EngineeringShaw ArchitectSunway Construction GroupUnique CentralSupport Infrastructure Providers
ABBCaterpillarCumminsEatonFuji ElectricHITEC Power ProtectionKOHLER PowerLegrandMitsubishi ElectricNarada Power SourcePiller Power SystemsRittalRolls-RoyceSchneider ElectricSiemensSocomecSTULZTraneVertivData Center Investors
Bridge Data CentresEdge CentresGDS ServicesIRIX (PP TELECOMMUNICATION)Keppel Data CentresNTT DATAOpen DCTM OneVantage Data CentersYTL Data Center HoldingsNew Entrants
AirTrunkAmazon Web Services (AWS)EdgeConneXEquinixFutureData (Cyclect Group + TSG Group)Googlei-BerhadInfinaxis Data Centre HoldingsMN Holdings + Shanghai DC-ScienceMicrosoftNEXTDCPrinceton Digital GroupRegal OrionSingtelST Telemedia Global Data CentresYondrTo Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Key Questions Answered in the Report:   
What factors are driving the Malaysian data center industry?
How big is the Malaysia data center market?
How many MW of power capacity will be added across Malaysia during 2024 to 2029?
What is the growth rate of the Malaysia data center market?
Which states are included in the Malaysia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Check Out Some of the Top-Selling Research Reports:
Indonesia Data Center Market – Investment Analysis & Growth Opportunities 2024-2029
Thailand Data Center Colocation Market – Supply and Demand Analysis 2024-2029
Singapore Data Center Market – Investment Analysis & Growth Opportunities 2023-2028
Australia Data Center Market – Investment Analysis & Growth Opportunities 2023–2028 
Why Arizton? 
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About Us:                                                           
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.                                                         
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.                                                          
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.                                                                
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