Intelligent vertical transportation market to increase in value through 2025.
Installations of smart elevator systems will expand over the next ten years, according to a new study that projects the market to increase at a 16.2% compound annual growth rate from 2015 to 2025. Advancements in semiconductor systems and other components of vertical transportation are noted as the main drivers behind the steep projected rise of smart elevator automation systems.
Smart elevators are defined by their capabilities beyond vertical transportation, including systems that act as facility security and include controls such as biometrics, access control, touchscreens, and destination dispatch systems. Additionally, enhanced energy efficient performance is noted as a key feature of intelligent elevator systems.
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