DUBLIN , May 16, 2022 /PRNewswire/ -- The "Saudi Arabia Smart Elevator Market, By Component (Communication Systems, Maintenance System, Control Systems (Security Control, Elevator Control, Access Control)), By Speed, By Application, By Service, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia smart elevator market is expected to register significant growth during the forecast period. The growth can be attributed to the rising demands for smart infrastructure and a growing number of technological advancements for improved product performance.

Additionally, the development of advanced and intelligent residential complexes is contributing to the growth of the Saudi Arabia smart elevator market. The inclusion of smart technologies such as virtual reality, predictive cloud maintenance, artificial intelligence, etc., in elevators to identify future needs accurately and adoption of cable-free lifts are anticipated to drive the growth of Saudi Arabia smart elevator market.

Increased spending capabilities of customers and improved global economies have led to the installation of smart elevators for enhanced mobility experiences, advanced security, and high energy efficiency, encouraging the growth of Saudi Arabia smart elevator market. The commercial usage of smart elevators accounts for one-third of the total market revenue, and their increasing use in institutional buildings is expected to encourage the growth of Saudi Arabia smart elevator market. High initial costs for installation of smart elevators, timely maintenance, and after-sales services could restrict the growth of Saudi Arabia smart elevator market. The Saudi Arabia smart elevator market is segmented by component, speed, application, service, application, regional distribution, and competitional landscape. Based on components, the market is further sub-segmented into communication systems, maintenance systems, and control systems. The control systems are expected to dominate the Saudi Arabia smart elevator market as they provide improved security and management in crowded buildings. The control systems can be further segmented into elevator control, access control, and security control. The elevator control sub-segment is expected to register the highest growth since the feature is required for the basic functioning and maintenance of elevators. Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, Toshiba Elevator and Building Systems Corporation, Hitachi Elevator Saudi Arabia Limited., Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO), Elegant Elevators Company, and CGC Elevators & Escalators are the major players operating in the Saudi Arabia smart elevator market.

Increasing R&D initiatives for improved product performance and collaborations are the key strategies adopted by the market players to strengthen their position in Saudi Arabia smart elevator market. Years considered for this report:

Key Topics Covered: 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Voice of Customer 4.1. Brand Awareness 4.2. Brand Selection 4.3. Factor Influencing Purchase Decision 5. Impact of COVID -19 on Saudi Arabia Smart Elevator Market 6. Saudi Arabia Smart Elevator Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Component (Communication Systems, Maintenance System, Control Systems (Security Control, Elevator Control, Access Control)) 6.2.2. By Speed (Less than 2m /s, 2-5m /s, 5.1-8m /s and Above 8 m /s) 6.2.3. By Application (Residential, Commercial, Industrial) 6.2.4. By Service (New Installation, Modernization, Maintenance) 6.2.5. By Region (Northern & Central, Southern, Eastern, Western) 6.2.6. By Company (2021) 6.3. Product Market Map 7. Saudi Arabia Residential Smart Elevator Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Component 7.2.2. By Speed 7.2.3. By Service 8. Saudi Arabia Commercial Smart Elevator Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Component 8.2.2. By Speed 8.2.3. By Service 9. Saudi Arabia Industrial Smart Elevator Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Component 9.2.2. By Speed 9.2.3. By Service 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends & Developments 12. Policy & Regulatory Landscape 13. Pricing Analysis 14. Supply Chain Analysis 15. Saudi Arabia Economic Profile 16. Competitive Landscape 16.1. Company Profiles 16.1.1. Otis Elevator Company Saudi Arabia Limited 16.1.2. Schindler Olayan Elevators Co. Ltd 16.1.3. ThyssenKrupp Elevator Saudi Limited 16.1.4. Mitsubishi Electric Saudi Ltd. 16.1.5. Gulf Elevator & Escalator Company Ltd. 16.1.6. Khaled Juffali Elevator & Escalator Co. 16.1.7. KONE Saudi Arabia 16.1.8. Orona Elevator Co. KSA 16.1.9. Fujitec Saudi Arabia Co., Ltd. 16.1.10 . Hyundai Elevator Saudi Arabia 16.1.11 . Toshiba Elevator and Building Systems Corporation 16.1.12 . Hitachi Elevator Saudi Arabia Limited. 16.1.13 . Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO) 16.1.14 . Elegant Elevators Company 16.1.15 . CGC Elevators & Escalators 17. Strategic Recommendations For more information about this report visit https://www.researchandmarkets.com/r/39q0oj

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