Tall buildings are only possible with elevator technology and as our built environment continues to get taller and smarter, the elevator industry is beginning to find new roles to support occupants and facilities managers. In a market that hardly changed for decades, a new wave of startups has redefined what a smart elevator is, forcing established players to take notice. Elevators are being completely transformed by digital technologies, driving greater convenience and personalized experiences. These smart elevators utilize advanced algorithms, AI and ML to analyze real-time data to optimize operations and reduce waiting times. Equipped with sensors and IoT connectivity, these elevators offer predictive maintenance to maximize dependability and minimize downtime. While user-friendly interfaces, such as touchscreen monitors and mobile applications, improve the passenger experience. Historically, the elevator industry has been shaped by a small number of key OEM players, including Otis, Schindler, Kone and ThyssenKrupp —who have all introduced digital tools and technology-enabled solutions […]