Elevators Market to Witness an Outstanding Growth by 2026
Posted by vakhas on July 18th, 2018
Adoption of electronic devices not only enhances convenience but also improves lifestyle of consumers, which has further resulted into the concept of smart homes. In addition, smart buildings are witnessing a tremendous surge in prevalence, with the rise in development of smart cities. Rising integration of essential building equipment and systems with artificial intelligence (AI) has further proliferated demand for smart buildings in developed and developing countries. Various governments across the globe are focusing on funding smart cities projects, which in turn is expected to influence demand for equipment such as elevators. Elevator manufacturers across the globe are increasingly being encouraged to incorporate internet of things (IoT) in elevator systems, which will improve the service by lowering downtimes and enhancing the efficiency. It will further enable real-time remote monitoring and actionable analytics. Integration of IoT into elevators is considered to be one of the latest trends in the elevators industry, and such elevator systems are likely to gain immense traction globally in the near future.
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Emergence of Net-Zero Elevators to Influence the Market Expansion
Commercial builders are currently more focused than ever toward creation of energy-efficient structures to cater highest environmental benchmarks, while sustaining in the test of time. Elevators significantly contribute to energy consumption in a residential as well as commercial buildings, accounting for over 10% of total energy consumed. However, after decades of machine and technology advancements, modern elevators being developed comparatively consume lesser energy. In addition, the concept of a net-zero elevators is likely to gain immense traction in residential as well as commercial sectors in the upcoming years. As a net-zero building produces only the amount of energy that is required by the structure, implementing a net-zero elevator commences with the emphasis on improving solar footprint. Infrastructure developers are therefore increasingly focusing on incorporating solar panels within the elevator shaft’s footprint, making it cost-effective and more practical. Another imperative factor gaining attraction of builders is inclusion of microprocessor controls in a net-zero elevator, to reduce energy losses as well as the amount of energy consumed by implementing more integrated circuits in every area of printed circuit boards
Key Projections on Future of Elevators Market for Forecast Period 2017-2026
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Joined: July 27th, 2017
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