Nation’s Economic and Social Council, Asia Pacific was home to 60% of world’s urban population
in 2017. Furthermore, according to World Population data sheet by Population Reference
Bureau, in 2017, the total population of Asia Pacific region was around 4,494 Million out of
which 49% accounted for urban population. Also, funding for development of urban
infrastructure sector has increased in Asia Pacific. For instance, according to September 2017,
report by India Brand Equity Foundation (IBEF), in India, Foreign Direct Investment inflows for
construction development sector and infrastructure activities sector accounted for US$ 24.54
billion and US$ 9.82 billion, respectively from April 2000 to June 2017. Smart elevators offers
several advantages in urban infrastructures, growth of urbanization and infrastructure
development in this region are expected to increase demand for smart elevators throughout
the forecast period.
Smart Elevators Market: Competitive Landscape
Key players operating in the smart elevators market include Hitachi, KONE CORPORATION,
Mitsubishi Electric, Otis Elevator Company (UNITED TECHNOLOGIES), Schindler, Thyssenkrupp,
Hyundai Elevator Company Ltd., Toshiba Elevators and Building Systems Corporation, Fujitec Co.
Ltd., and Motion Control Engineering, Inc.
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