Cybersecurity Concerns in Smart Elevator Systems
The smart elevator market is experiencing rapid growth due to the increasing demand for efficient, energy-saving, and technologically advanced vertical transportation systems in residential, commercial, and industrial buildings. Here’s an overview of the market in 500 words, presented with bullet points for clarity: Smart Elevator Market Overview Current Market Size and Growth : The global Smart Elevator Market size is projected to reach USD 12.6 billion by 2026, growing at a CAGR of 5.4% during the forecast period. The growth of the smart elevator market is majorly driven by the enhanced spending capabilities of customers in emerging markets. Definition : Smart elevators are advanced elevator systems equipped with innovative technologies such as IoT, artificial intelligence (AI), machine learning (ML), and automation for improved efficiency, safety, and user experience. smart elevator market Key Drivers Urbanization and High-Rise Buildings : The rapid pace of urbanization and th