Elevator Intelligent Light Curtain Market
Elevator Intelligent Light Curtain Market Forecasts to 2030 - Global Analysis By Type (Ordinary Light Curtain, Safety Class 2 Light Curtain and Safety Class 4 Light Curtain), Technology, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $243.76 MN |
|
Projected Year Value (2030) |
US $359.33 MN |
|
CAGR (2023 - 2030) |
5.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Elevator Intelligent Light Curtain Market is accounted for $243.76 million in 2023 and is expected to reach $359.33 million by 2030 growing at a CAGR of 5.7% during the forecast period. The term ""Elevator Intelligent Light Curtain"" alludes to the integration of intelligent light curtain systems with elevator technology. Opto-electronic devices called lift light curtains are able to identify those who are in the way of a lift door, they may hold the doors open as someone gets in or out of the lift. This may lessen the chance of harm while elevator operation. Two components make up light curtains: a transmitter and a receiver. The receiver receives infrared rays from the emitter. The machine stops if there is an interruption in one or more of the beams. This integration may improve user experience, optimise energy use, or increase safety, among other things.
According to the IBM Corporation report, implementing advanced technology, including AI, Internet of Things (IoT), and others helped reduce energy usage by 40% and 10%-30% maintenance costs of elevators.
Market Dynamics:
Driver:
Growing urbanization & high-rise building construction
The growing urbanization trend and the construction of high-rise buildings create a strong market demand for elevator technologies, with intelligent light curtains playing a crucial role in meeting safety, efficiency, and user experience requirements in modern vertical transportation systems. Its features such as faster door closing times and more accurate obstacle detection in turn, helps in optimizing the throughput of elevators in busy urban environments. Additionally, its touchless controls, predictive maintenance, and other features that contribute to a more convenient and user-friendly experience accelerates the market demand.
Restraint:
High initial costs
The high initial costs associated with elevator intelligent light curtains poses a challenge for their widespread adoption. High initial costs can deter building owners and developers, especially those working on projects with tight budgets, from investing in intelligent light curtains. Also, if potential customers perceive intelligent light curtains as expensive or beyond their budget, it may create a barrier to adoption. Further, it lacks financial incentives & regulatory requirements and hinders the overall growth of the market.
Opportunity:
Retrofitting existing elevators
Retrofitting elevators with intelligent light curtains enhances safety by adding an extra layer of protection. Also, retrofitting is often a more cost-effective solution than completely replacing an elevator system. It also minimizes disruptions to daily operations, improves the overall sustainability and provides energy-saving features. By addressing these factors, retrofitting existing elevators with intelligent light curtain systems contributes to the growth of the market, providing a practical and efficient solution for improving elevator safety in a wide range of buildings.
Threat:
Technological complexities
Advanced elevator intelligent light curtain systems always require intricate installation procedures. It requires specialized knowledge for maintenance and troubleshooting. Also, the development and implementation of sophisticated technologies often come with higher costs. Further, often integrating with other technologies such as access control, building automation, and security systems can lead to interoperability issues. All these elements can hinder the adoption of intelligent light curtain solutions.
Covid-19 Impact
The covid pandemic significantly impacted the elevator intelligent light curtain market. The pandemic has caused disruptions in global supply chains, affecting the manufacturing and distribution of various products. The construction industry, a significant driver for elevator installations, faced disruptions due to lockdowns, social distancing measures, and economic uncertainties. Projects were delayed or put on hold, affecting the demand for new elevators and related technologies. The shift to remote work and reduced building occupancy rates in some regions may have influenced decisions related to facility upgrades and maintenance, potentially impacting the market for elevator technologies.
The edge computing and artificial intelligence (AI) segment is expected to be the largest during the forecast period
The edge computing and artificial intelligence (AI) segment is estimated to have a lucrative growth. It enables real-time processing, predictive maintenance, data security and privacy. The integration of edge computing and AI in the elevator intelligent light curtain market also improves safety, efficiency, energy optimization, and enhanced user experiences. These technologies contribute to the evolution of smart and connected building ecosystems.
The emergency stop segment is expected to have the highest CAGR during the forecast period
The emergency stop segment is anticipated to witness the highest CAGR growth during the forecast period, due to its quick response time, reduced liability, enhanced passenger safety and compliance with safety standards. Intelligent light curtains are integrated with the elevator control system to trigger an emergency stop when an obstacle is detected. In the case of an emergency stop, they quickly sense if there is an obstruction, preventing the doors from closing on objects or individuals. Their critical safety features during emergency situations are fuelling the segment growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to growing smart city projects. The growing population in China and India is expected to drive the technology to manage urban space demand. The Asia-Pacific region has a diverse market with both local and international players in the elevator and safety technology sectors. Further, increasing government initiatives in developing smart commercial places, shopping malls, and localities to reduce energy consumption is expected to drive the global market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to urbanization, technological advancements and ongoing construction activities. It is also home for major players such as WECO Elevator Products, CEDES and ReeR. North America has stringent safety regulations and standards for elevator systems. The adoption of intelligent light curtains is influenced by the need to comply with these regulations and enhance overall safety in buildings.
Key players in the market
Some of the key players profiled in the Elevator Intelligent Light Curtain Market include Omron Corporation, Schneider Electric SE, Pepperl+Fuchs, Keyence Corporation, Ferndale Electronics Inc., Motion29, CEDES AG, VEGA, Huegli Tech AG, Adams GateKeeper, Mayser GmbH & Co. KG, Telco Systems, General Electric, Dow Jones, The 3M Company, Asahi Kasei, Sumitomo Corporation, TOYOBO, Mitsubishi Rayon and Toray Industries.
Key Developments:
In November 2023, CEDES, a global leader in elevator safety light curtains and optoelectronic sensors, and relayr, announced the launch of their joint solution for the elevator industry - combining CEDES’ renowned light curtain with relayr’s Industrial IoT expertise.
In June 2022, VEGA security division launches 3D sensor kit. 3D SENSOR is a reopening device to detect approaching people in the landing zone. It is able to recognize moving people as well as stationary objects in front of the car. It uses radar technology to reduce false trigger and avoid un-necessary doors reopening.
Types Covered:
• Ordinary Light Curtain
• Safety Class 2 Light Curtain
• Safety Class 4 Light Curtain
Technologies Covered:
• Laser Technology
• Infrared (IR) Technology
• Ultrasonic Technology
• Radio Frequency Identification (RFID)
• Machine Vision Systems
• Edge Computing & Artificial Intelligence (AI)
• Wireless Communication
• Microcontroller Technology
Applications Covered:
• Occupancy Monitoring
• Door Safety
• Floor Levelling
• Emergency Stop
• Accessibility
• Fault Detection
• Customized Configurations
• Energy Efficiency
• Other Applications
End Users Covered:
• Commercial Buildings
• Residential Buildings
• Hotels & Hospitality
• Healthcare Facilities
• Industrial & Manufacturing Facilities
• Educational Institutions
• Public Transportation Hubs
• Government Buildings
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Elevator Intelligent Light Curtain Market, By Type
5.1 Introduction
5.2 Ordinary Light Curtain
5.3 Safety Class 2 Light Curtain
5.4 Safety Class 4 Light Curtain
6 Global Elevator Intelligent Light Curtain Market, By Technology
6.1 Introduction
6.2 Laser Technology
6.3 Infrared (IR) Technology
6.4 Ultrasonic Technology
6.5 Radio Frequency Identification (RFID)
6.6 Machine Vision Systems
6.7 Edge Computing & Artificial Intelligence (AI)
6.8 Wireless Communication
6.9 Microcontroller Technology
7 Global Elevator Intelligent Light Curtain Market, By Application
7.1 Introduction
7.2 Occupancy Monitoring
7.3 Door Safety
7.4 Floor Levelling
7.5 Emergency Stop
7.6 Accessibility
7.7 Fault Detection
7.8 Customized Configurations
7.9 Energy Efficiency
7.10 Other Applications
8 Global Elevator Intelligent Light Curtain Market, By End User
8.1 Introduction
8.2 Commercial Buildings
8.3 Residential Buildings
8.4 Hotels & Hospitality
8.5 Healthcare Facilities
8.6 Industrial & Manufacturing Facilities
8.7 Educational Institutions
8.8 Public Transportation Hubs
8.9 Government Buildings
8.10 Other End Users
9 Global Elevator Intelligent Light Curtain Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Omron Corporation
11.2 Schneider Electric SE
11.3 Pepperl+Fuchs
11.4 Keyence Corporation
11.5 Ferndale Electronics Inc.
11.6 Motion29
11.7 CEDES AG
11.8 VEGA
11.9 Huegli Tech AG
11.10 Adams GateKeeper
11.11 Mayser GmbH & Co. KG
11.12 Telco Systems
11.13 General Electric
11.14 Dow Jones
11.15 The 3M Company
11.16 Asahi Kasei
11.17 Sumitomo Corporation
11.18 TOYOBO
11.19 Mitsubishi Rayon
11.20 Toray Industries
List of Tables
1 Global Elevator Intelligent Light Curtain Market Outlook, By Region (2021-2030) ($MN)
2 Global Elevator Intelligent Light Curtain Market Outlook, By Type (2021-2030) ($MN)
3 Global Elevator Intelligent Light Curtain Market Outlook, By Ordinary Light Curtain (2021-2030) ($MN)
4 Global Elevator Intelligent Light Curtain Market Outlook, By Safety Class 2 Light Curtain (2021-2030) ($MN)
5 Global Elevator Intelligent Light Curtain Market Outlook, By Safety Class 4 Light Curtain (2021-2030) ($MN)
6 Global Elevator Intelligent Light Curtain Market Outlook, By Technology (2021-2030) ($MN)
7 Global Elevator Intelligent Light Curtain Market Outlook, By Laser Technology (2021-2030) ($MN)
8 Global Elevator Intelligent Light Curtain Market Outlook, By Infrared (IR) Technology (2021-2030) ($MN)
9 Global Elevator Intelligent Light Curtain Market Outlook, By Ultrasonic Technology (2021-2030) ($MN)
10 Global Elevator Intelligent Light Curtain Market Outlook, By Radio Frequency Identification (RFID) (2021-2030) ($MN)
11 Global Elevator Intelligent Light Curtain Market Outlook, By Machine Vision Systems (2021-2030) ($MN)
12 Global Elevator Intelligent Light Curtain Market Outlook, By Edge Computing & Artificial Intelligence (AI) (2021-2030) ($MN)
13 Global Elevator Intelligent Light Curtain Market Outlook, By Wireless Communication (2021-2030) ($MN)
14 Global Elevator Intelligent Light Curtain Market Outlook, By Microcontroller Technology (2021-2030) ($MN)
15 Global Elevator Intelligent Light Curtain Market Outlook, By Application (2021-2030) ($MN)
16 Global Elevator Intelligent Light Curtain Market Outlook, By Occupancy Monitoring (2021-2030) ($MN)
17 Global Elevator Intelligent Light Curtain Market Outlook, By Door Safety (2021-2030) ($MN)
18 Global Elevator Intelligent Light Curtain Market Outlook, By Floor Levelling (2021-2030) ($MN)
19 Global Elevator Intelligent Light Curtain Market Outlook, By Emergency Stop (2021-2030) ($MN)
20 Global Elevator Intelligent Light Curtain Market Outlook, By Accessibility (2021-2030) ($MN)
21 Global Elevator Intelligent Light Curtain Market Outlook, By Fault Detection (2021-2030) ($MN)
22 Global Elevator Intelligent Light Curtain Market Outlook, By Customized Configurations (2021-2030) ($MN)
23 Global Elevator Intelligent Light Curtain Market Outlook, By Energy Efficiency (2021-2030) ($MN)
24 Global Elevator Intelligent Light Curtain Market Outlook, By Other Applications (2021-2030) ($MN)
25 Global Elevator Intelligent Light Curtain Market Outlook, By End User (2021-2030) ($MN)
26 Global Elevator Intelligent Light Curtain Market Outlook, By Commercial Buildings (2021-2030) ($MN)
27 Global Elevator Intelligent Light Curtain Market Outlook, By Residential Buildings (2021-2030) ($MN)
28 Global Elevator Intelligent Light Curtain Market Outlook, By Hotels & Hospitality (2021-2030) ($MN)
29 Global Elevator Intelligent Light Curtain Market Outlook, By Healthcare Facilities (2021-2030) ($MN)
30 Global Elevator Intelligent Light Curtain Market Outlook, By Industrial & Manufacturing Facilities (2021-2030) ($MN)
31 Global Elevator Intelligent Light Curtain Market Outlook, By Educational Institutions (2021-2030) ($MN)
32 Global Elevator Intelligent Light Curtain Market Outlook, By Public Transportation Hubs (2021-2030) ($MN)
33 Global Elevator Intelligent Light Curtain Market Outlook, By Government Buildings (2021-2030) ($MN)
34 Global Elevator Intelligent Light Curtain Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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