Smart el­e­va­tor mar­ket to reach $25 bil­lion

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The Global In­dus­try An­a­lyst Inc ‘Global Smart El­e­va­tor Mar­ket’ re­port pre­dicts the global smart el­e­va­tor mar­ket to reach $25 bil­lion by 2020 at 13.8% CAGR. An­a­lysts say mod­ern­iza­tion of con­ven­tional el­e­va­tor sys­tems in US, UK, Canada and France has con­trib­uted ma­jorly to mar­ket rev­enue so far. With up­com­ing high-rise build­ings adopt­ing fresh de­ploy­ment of smart el­e­va­tor sys­tems, the mar­ket will ex­pe­ri­ence a rad­i­cal shift through 2016-2020. The large num­ber of new de­ploy­ment of smart el­e­va­tors an­tic­i­pated in de­vel­op­ing Asian coun­tries will hugely boost mod­ern­iza­tion rev­enues. Asia-pa­cific is the most lu­cra­tive mar­ket in terms of both size and growth and ex­pected to grow to $5.1 bil­lion by 2020 at fastest CAGR of 21.7%

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