The smart elevator market is a hot topic in 2014 and a recent industrial market research report predicts that this market will continue to register a high growth into the year 2020. A new report published by Allied Market Research suggests that the global smart home and buildings market is likely to grow at a compound annual growth rate (CAGR) of 29.5 % during the period 2012 – 2020. It is estimated that the overall smart elevator market will grow up to $35.3 billion by 2020.
Presently, smart elevator technology has become highly popular worldwide. One of the prominent factors that increase the demand for more advanced and sophisticated elevators in the market is “security”. Through robust