Elevator Control System Market Size Worth $ 15,309.19 Million By 2032 | CAGR: 7.00%

The global elevator control system market size is expected to reach USD 15,309.19 million by 2032, according to a new study by Polaris Market Research. The report “Elevator Control System Market Share, Size, Trends, Industry Analysis Report, By Function (Floor Selection, Weight Sensing, Speed Adjustment, and Others); By System Type; By End-User; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Elevator control systems oversee handling elevator services and factors such as acceleration, deceleration, hall lantern signals, travel, door opening speed, leveling time, and unforeseen delays in normal operation. Elevator access control systems give the building an extra layer of protection by logging and monitoring elevator activity, resulting in increased security and safety. The advent of IoT, artificial intelligence (AI), and other technologies improves the safety and smoothness of lift movement.

Using AI in elevator control systems can help improve the efficiency, reliability, and safety of elevator systems while reducing maintenance costs and energy consumption. By leveraging AI, elevator manufacturers, and service providers can provide passengers better experiences while contributing to more sustainable and environmentally friendly transportation systems. Recently, during the expansion of the Hefei Metro subway, situated in Eastern China’s Anhui provincial capital, deployed 250 advanced elevators and escalators connected to the Otis ONETM Internet of Things (IoT) platform in March 2023.

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The rise in technical improvements in the construction sector worldwide is driving market expansion. Otis Korea announced the availability of the Gen3TM digitally linked lift with Otis ONETM IoT technology in early March 2023, further demonstrating its commitment to safety by employing technologies such as smart remote inspection in the case of a service outage. Our eView in-cab display, accessible to Gen3 customers, offers passengers information such as news, weather, and building information.

Businesses are expanding their product and service portfolios and creating more refined IoT technologies in elevator control systems. Hitachi Elevator (Thailand) is a joint venture between Hitachi & Siam Motor in Thailand, and is the only exclusive elevator and escalator sales and service company in Thailand. For the first time in Thailand and South East Asia, seek the value of buildings leveraging the Lumada IoT platform to provide physical security systems and digital services for the new elevator control panels.

Elevator control system Market Report Highlights

• Weight sensing registered a robust growth rate, as it is very helpful in controlling the speed and safe functioning of elevators during trips of high-rise buildings.
• Selective collective operation systems accounted for the largest market share, primarily due to the rise in urbanization and the movement of people toward cities.
• Growing investment in the commercial sector and advanced technologies help to foster the market in the coming years.
• Asia Pacific accounted for the largest share, owing to the growing population and construction of high-rise buildings.
• The global players include Hitachi, KONE, OTIS, Toshiba Elevators, Mitsubishi Electric, Thames Valley Controls, Nidec MCE, Honeywell International, and SICK.

Polaris Market Research has segmented the elevator control system market report based on function, system type, end user, and region:

Elevator control system, Function (Revenue - USD Billion, 2019 - 2032)

• Floor Selection
• Weight Sensing
• Speed Adjustment
• Others

Elevator control system, System Type (Revenue - USD Billion, 2019 - 2032)

• Single Automatic Operation
• Selective Collective Operation
• Group Automatic Operation

Elevator control system, End Use (Revenue - USD Billion, 2019 - 2032)

• Residential
• Commercial
• Industrial

Elevator control system, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Elevator Control System Market Report Scope