North America Facilities Management Market 2021 | Business Analysis, Scope, Size

Posted by Fred Williams on March 25th, 2021

Most part of the last century has been a prosperous timespan for the humanity and infrastructure development has happened at an exponentially progressive rate. These infrastructures are invariably in multiple stories, which had given birth to the invention of elevators, and now a demand for them to improve consistently to attain greater velocities and efficiencies. Escalators are a sister segment of the larger elevators market, enabling people to tirelessly travel between floors via moving stairways, and have gained demand in the recent times as a result of mushrooming of shopping malls and airports.

In the recent past, energy efficiency has turned into a trend that is engulfing a number of industries, including the market for elevators and escalators, as a strong demand is emerging for them to be smarter. According to the findings of this business intelligence report, the vendors operating in the global smart elevators and escalators market stand to gain incrementing opportunities at a CAGR of 6.8% during the forecast period of 2017 to 2023. In terms of revenue, by the end of 2023, the market for smart elevators is estimated to be worth US0.03 billion, whereas the smart escalators market will constitute for a valuation of US.53 billion.

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