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The smart elevator market is projected to grow by USD 4.92 Billion from 2024-2028, with AI driving market evolution and increased construction activities boosting growth – Technavio

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NEW YORK, Sept. 23, 2024 /PRNewswire/ — The global smart elevator market size is estimated to grow by USD 4.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.78%  during the forecast period growing number of construction activities is driving market growth, with a trend towards cloud predictive maintenance  However, intense competition  poses a challenge – Key market players include Express Lifts Ltd., Fujitec Co. Ltd., Halma Plc, Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., Hyundai Elevator Co. Ltd., Johnson Lifts Pvt. Ltd., KONE Corp., Mitsubishi Electric Corp., Nidec Corp., Otis Worldwide Corp., Robert Bosch GmbH, Robustel, Schindler Holding Ltd., Sigma Elevator Co., thyssenkrupp AG, TK Elevator GmbH, Toshiba Corp., and Vantage Elevation LLC.

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Smart Elevator Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.78%

Market growth 2024-2028

USD 4923.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.23

Regional analysis

North America, Europe, APAC, Middle East and
Africa, and South America

Performing market contribution

North America at 33%

Key countries

US, UK, China, Germany, and Japan

Key companies profiled

Express Lifts Ltd., Fujitec Co. Ltd., Halma Plc,
Hitachi Ltd., Honeywell International Inc.,
Huawei Technologies Co. Ltd., Hyundai Elevator
Co. Ltd., Johnson Lifts Pvt. Ltd., KONE Corp.,
Mitsubishi Electric Corp., Nidec Corp., Otis
Worldwide Corp., Robert Bosch GmbH,
Robustel, Schindler Holding Ltd., Sigma Elevator
Co., thyssenkrupp AG, TK Elevator GmbH,
Toshiba Corp., and Vantage Elevation LLC

Market Driver

The Smart Elevator market is driven by the integration of Internet of Things (IoT) technology in elevators. This innovation enables the collection and analysis of elevator data in the cloud, comparing it with historical data from the supplier’s database. Analyzing this information can predict potential component failures, alerting service engineers to take preventive measures before major breakdowns. This proactive approach saves time and money on repairs for lift operators, making it a significant market growth factor during the forecast period. 

The Smart Elevator Market is experiencing significant growth due to the increasing demand for modernization and new deployment of elevator systems in both high-rise and low/mid-rise buildings. Freight elevator systems and passenger elevator systems are becoming increasingly popular, with a focus on energy efficiency and green buildings. The integration of IoT, AI, and cloud computing enables advanced features like regenerative drive, destination-oriented technology, and virtual reality diagnostics. Elevator manufacturers provide new installation services and renovation services to incorporate hardware upgrades and software enhancements. Infotainment systems, spatial technologies, and sensors are added to enhance user experience. Traditional elevators are being replaced with smart elevators, offering control systems, AI, and cameras for improved safety and efficiency. Urbanization and smart cities require commercial applications of smart elevators to reduce energy consumption and optimize maintenance with cloud predictive maintenance. 

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 Market Challenges

The global smart elevator market is currently undergoing a challenging phase, with profit margins for vendors decreasing due to heightened competition and escalating raw material costs. Major players like KONE Corp and Otis Worldwide Corp dominate the market share. New entrants, such as Hitachi Elevators, are entering the market due to its continuous growth. However, this expansion has resulted in intense price competition among vendors, leading to reduced profit margins. The increasing competition could potentially introduce lower-quality products, potentially hindering market growth during the forecast period.The Smart Elevator Market is experiencing significant growth due to the increasing demand for modernization and new deployment of elevators in both low & mid-rise and high-rise buildings. Freight elevator systems and passenger elevator systems are being upgraded with IoT, AI, and regenerative drive features to enhance efficiency and reduce energy consumption. Green buildings and urbanization are key drivers, with a focus on energy-efficient elevators and smart technology. Elevator manufacturers are offering new installation services and renovation services to cater to this demand. Infotainment systems, spatial technologies, and virtual reality diagnostics are also becoming popular in commercial applications. Traditional elevator systems are being replaced with smart elevators, incorporating sensors, cameras, control systems, and destination-oriented technology. Cloud computing and predictive maintenance are also gaining traction in the market. Overall, the Smart Elevator Market is set to revolutionize the way we move in buildings, making them more efficient, sustainable, and convenient.

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Segment Overview 

This smart elevator market report extensively covers market segmentation by  

Service 1.1 Modernization1.2 New deployment1.3 MaintenanceApplication 2.1 Commercial2.2 Residential2.3 IndustrialGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Modernization-  The Smart Elevator Market is experiencing significant growth due to increasing demand for energy-efficient and technologically advanced elevators. These elevators offer features like automatic door opening, destination dispatch, and real-time monitoring, enhancing building efficiency and user experience. Major players in the market include Otis Elevator Company, Schindler Group, and Kone Corporation, who are investing in research and development to innovate and meet evolving customer needs. The market is expected to continue its expansion, driven by urbanization and rising construction activities.

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Research Analysis

The Smart Elevator Market is experiencing significant growth due to the increasing demand for energy-efficient solutions in buildings, particularly in high-rise structures and urban areas that are becoming smart cities. These elevators are equipped with advanced control systems, destination-oriented technology, and artificial intelligence (AI) for optimized energy consumption and efficient operation. The integration of cloud computing, hardware, and software enables real-time monitoring, predictive maintenance, and infotainment systems. Green buildings and building construction are also driving the market for smart elevators, which are designed to be compatible with IoT sensors and virtual reality diagnostics. Both passenger and freight elevator systems are benefiting from these innovations, offering improved safety, comfort, and productivity.

Market Research Overview

The Smart Elevator Market is experiencing significant growth due to the integration of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) in elevator systems. These technologies enable predictive maintenance using cloud computing and data analytics, leading to energy savings and improved efficiency in both commercial and residential buildings. The market includes Passenger and Freight Elevator Systems, with a focus on energy-efficient designs and regenerative drive features. New deployment and modernization services are in high demand for existing buildings, while infotainment systems and virtual reality diagnostics enhance the user experience. Spatial Technologies and Destination-oriented systems are becoming popular in high-rise buildings, while sensors and cameras ensure safety and security. The market also caters to the needs of green buildings and smart cities, offering innovative solutions for urbanization and sustainable construction. Overall, the Smart Elevator Market is transforming traditional elevator systems into intelligent, connected, and energy-efficient solutions for the future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceModernizationNew DeploymentMaintenanceApplicationCommercialResidentialIndustrialGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment

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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.

Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.

Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.

The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.

As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.

“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”

“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”

Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.

For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets

About CSTS Enterprises

CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.

CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.

[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.

 

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SOURCE CSTS Enterprises

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Swanson Vitamins Launches Swanson Vitamins Nexus Pro to Champion Registered Dietitians and Licensed Nutritionists at Every Stage of Their Careers

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New network for health and nutrition professionals offers CPEU-accredited continuing education, profession-wide promotion, practicum support and exam scholarships

FARGO, N.D., Oct. 24, 2026 /PRNewswire/ — Swanson Vitamins today launched Swanson Vitamins Nexus Pro, a network for health and nutrition professionals. The new initiative champions registered dietitians and licensed nutritionists through every stage of their careers, from students to providers with decades of experience. Created by nutrition professionals for nutrition professionals, Swanson Vitamins Nexus Pro offers educational resources, incentives and investments to support practitioners who share Swanson’s commitment to uncompromising integrity.

Swanson Vitamins Nexus Pro offers tailored resources for both practicing professionals and students. For practicing registered dietitians and licensed nutritionists, the program provides CPEU-accredited continuing education, along with profession-wide promotion of the experts who guide consumers’ wellness decisions. For dietetics and nutrition students, Swanson is investing in the next generation of the profession through practicum support and scholarships toward licensing or credentialing exam fees.

As consumers take a more active role in their health, they are increasingly turning to registered dietitians and licensed nutritionists for accurate, science-backed guidance. Through Swanson Vitamins Nexus Pro, Swanson aims to help nutrition professionals strengthen their credentials and build expertise in areas where consumers are seeking trusted nutritional support.

“Since 1969, we have been committed to uncompromising integrity in service of everyone’s journey to real wellness, and we believe real wellness starts with the experts who guide it,” said Erin Del Ponte, EVP Brand Marketing at Swanson Vitamins. “Registered dietitians and licensed nutritionists translate nutrition science into practical, personalized guidance that helps people make informed decisions about their health. With Swanson Vitamins Nexus Pro, we are proud to support these professionals at every stage of their careers, from students preparing for their credentialing exams to seasoned providers building expertise in the areas that matter most to consumers today.”

Swanson Nexus Pro program highlights

CPEU-accredited continuing education for registered dietitians and licensed nutritionistsProfession-wide promotion of registered dietitians and licensed nutritionistsPracticum support for dietetics and nutrition studentsScholarships to help offset licensing or credentialing exam fees

Applications for Swanson Vitamins Nexus Pro are open and can be submitted HERE. Additional details, including scholarship award amounts and practicum support details, will be announced in the coming weeks.

Swanson Vitamins Nexus Pro was introduced at the Food & Nutrition Conference & Expo, the Academy of Nutrition and Dietetics’ annual conference, held Oct. 24-27 in San Antonio. This initiative builds on Swanson’s longstanding commitment to the nutrition and dietetics community and reflects the company’s continued investment in the professionals who help consumers make informed choices on their journey to real wellness.

Media Assets
Photos HERE

About Swanson Vitamins
Since 1969, Swanson Vitamins has offered high-quality, science-backed vitamins and supplements rooted in one simple belief: proof over promise. Nearly six decades before “wellness” became an industry, Swanson was pioneering trustworthy supplement offerings and upholding uncompromising quality standards through intentional sourcing, rigorous in-house and third-party testing and Good Manufacturing Practices (GMP).

Today, Swanson is a Certified GMP Facility recognized by NSF, backed by an in-house team of nutritionists, dietitians, scientists, chemists and pharmacists with a combined 250-plus years of experience. With more than 1,300 products across 36 categories, Swanson doesn’t chase trends. It sets standards for integrity, quality and clarity in the supplement industry.

Swanson products are available at SwansonVitamins.com, Amazon and iHerb.com. Learn more at SwansonVitamins.com or follow @swansonvitamins on Instagram.

MEDIA CONTACT
Lauren Torrez, Crowe PR
ltorrez@crowepr.com 

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SOURCE Swanson Vitamins

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Technology Drives the Future of Travel: JETOUR Continues to Expand Its “Travel+” Ecosystem

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WUHU, China, Oct. 24, 2026 /PRNewswire/ — Expectations for travel are evolving: vehicles are no longer simply a means of reaching a destination, but travel companions that bring people closer to nature, serving as a “mobile third space.”

JETOUR continues to advance its “Travel+” strategy, integrating technological innovation, product development, and ecosystem building into real travel scenarios. From October 20 to 23, the 2026 JETOUR Global Technology Experience Day, themed “Future Travel Starts Now,” takes place across Wuhu, Anhui and Moganshan, Zhejiang, featuring technology experiences, on-road driving, outdoor living, and conservation activities.

Technological Innovation: Expanding the Possibilities of Travel

Backed by the Group’s expertise in AI, intelligent driving, smart cabins, and AiMOGA Robotics, JETOUR turns cutting-edge technology into experiences users can genuinely feel. The XWD Fully Automatic Intelligent 4WD, with 7+X one-touch modes, tackles mountain roads, gravel, and water crossings, while the GAIA All-Terrain Intelligent Architecture adapts to diverse terrain and C-DM hybrid technology balances performance with efficiency. On October 21, models with these technologies take on mountain-road test drives at Moganshan.

A Diverse Product Lineup: Enriching the Travel Experience

The G700 combines premium comfort with hardcore off-road capability, while the T1 and T2 suit both urban driving and light off-road adventures. Roof tents, onboard refrigerators, and other ecosystem equipment turn the vehicle into an all-round companion. JETOUR also hosts a camping market and a Starry Night Forum, bringing product features into real travel settings.

Ecosystem: Extending the Value of Travel

Travel is about understanding cultures and protecting nature as well as exploration. Participants visit Xiazhu Lake in Zhejiang for a crested ibis conservation initiative. Globally, JETOUR supports cheetah conservation in Africa, turtle conservation in Malaysia, harpy eagle conservation in Panama, and protection of Pakistan’s national animal, the markhor.

JETOUR has also partnered with Chile’s Colo-Colo, FIBA, and the Malaysia Marathon, broadening engagement with local culture, sport, and communities — giving “Travel+” an ever richer meaning.

JETOUR now joins travelers worldwide across city, mountain, and wetland, exploring new possibilities through the deeper integration of technology and travel.

ABOUT JETOUR

Launched in 2018, JETOUR follows the “Travel+” strategy and has entered over 100 countries and regions, with 2,000+ sales and after-sales outlets. Its lineup includes the T Series for light off-road and the G Series for the premium luxury off-road market, covering urban commuting, family road trips, outdoor camping, and long-distance journeys.

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SOURCE JETOUR

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