Elevator Iot Market Size, Share & Trends Analysis Report By Product (Hardware, Software, Services), By Applications (Residential, Commercial, Industrial), By End Use, By Region, and Segment Forecasts - 2035

Elevator Iot Market Overview

The global elevator iot market size was valued at USD 39183.14 million in 2025 and is projected to grow from USD 46690.63 million in 2026 to USD 78998.92 million by 2035, at a CAGR of 19.16% from 2026 to 2035.

The Elevator Iot Market is expanding rapidly as building owners connect elevators to cloud platforms for predictive maintenance, real-time operating visibility, remote diagnostics, passenger communication, access integration, and data-driven maintenance planning. Hardware accounts for an estimated 38% of current market activity, Software represents approximately 35%, and Services contribute around 27%. Commercial applications lead with approximately 46% share because offices, hotels, hospitals, shopping centers, airports, mixed-use developments, and institutional buildings frequently operate multiple elevators where downtime directly affects occupants. Residential applications account for approximately 39%, while Industrial applications represent 15%. Connected elevator architecture typically combines sensors, controllers, communication gateways, cloud analytics, mobile applications, and service-management systems. By the end of 2025, one major global elevator manufacturer had approximately 1.1 million connected units across its installed portfolio, demonstrating that IoT-enabled vertical transportation has moved well beyond pilot deployment. Increasing urbanization provides a structural demand base, with approximately 45% of the world's 8.2 billion people living in cities during 2025.

The United States is one of the most advanced Elevator Iot Market environments because of its large installed elevator base, high-rise commercial buildings, hospitals, residential towers, universities, hotels, airports, and growing smart-building infrastructure. North America is estimated to represent approximately 32% of global market demand, with the U.S. contributing more than 80% of regional activity. Cloud-connected maintenance platforms increasingly monitor critical elevator systems 24 hours per day and can automatically alert service teams when abnormal conditions appear. Digital services also allow building managers to view equipment status, service history, usage patterns, and maintenance activity remotely instead of relying only on scheduled inspections. Elevator IoT platforms are increasingly integrated through application programming interfaces with building management systems, security applications, service robots, and digital tenant platforms. U.S. adoption is particularly strong in Commercial buildings, where elevator uptime can affect thousands of passenger journeys each day and where predictive maintenance can reduce costly emergency service interventions.

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Key Findings

• Leading Product Type: Hardware is expected to maintain the largest share at approximately 38%, supported by continued deployment of sensors, gateways, communication modules, controllers, cameras, and retrofit monitoring equipment across existing elevator installations.
• Leading Application: Commercial applications are projected to account for approximately 46% of demand as offices, hotels, hospitals, airports, retail centers, and mixed-use buildings prioritize high equipment availability and real-time maintenance visibility.
• Leading Region: Asia-Pacific is estimated to command approximately 37% market share because China, India, Japan, South Korea, and Southeast Asia combine rapid urbanization, high-rise construction, modernization, and expanding smart-building investment.
• Fastest Growing Region: Asia-Pacific is projected to expand at approximately 21.8% annually as large installed elevator fleets are progressively connected through sensors, cloud platforms, AI analytics, and remote maintenance systems.
• Technology Trend: Predictive analytics is becoming central to elevator IoT, with leading connected-service portfolios monitoring approximately 1.1 million elevator and escalator units globally by the end of 2025.
• Market Driver: Urbanization remains a major structural catalyst, with approximately 45% of the world's 8.2 billion population living in cities during 2025 and increasing dependence on vertical transportation.
• Competitive Landscape: AI-enabled building services are gaining investment, with one major manufacturer applying operational data together with approximately 30 years of accumulated inspection knowledge to improve maintenance decisions.
• Future Outlook: Smart-building integration will accelerate through 2035 as next-generation connected elevators increasingly support 24/7 monitoring, mobile authentication, service robots, digital twins, building APIs, and remote diagnostics.

Latest Trends

Predictive maintenance is the most important operating trend in the Elevator Iot Market. Conventional maintenance traditionally depended on fixed inspection intervals, technician observations, passenger complaints, and reactive repair after a failure occurred. Connected elevators instead collect operating information from doors, controllers, drives, leveling systems, safety equipment, communication systems, and other components on an ongoing basis. Software can compare current behavior with historical patterns and identify gradual deterioration before it causes a shutdown. Services currently account for approximately 27% of market activity because connectivity creates recurring demand for remote monitoring, predictive analytics, diagnostic support, software updates, and maintenance intervention. Major connected portfolios exceeded approximately 1.1 million units by the end of 2025, demonstrating how digital maintenance has become embedded in global service operations. Newer platforms also provide real-time issue notifications and can automatically dispatch mechanics when defined conditions are detected, shortening the period between equipment deterioration and corrective action.

Smart-building integration is the second major trend. Elevator IoT is moving beyond equipment maintenance toward connection with access control, service robots, mobile applications, digital identity, building management software, energy systems, and occupancy analytics. New 2026 elevator platforms support smartphone authentication, non-contact elevator hailing, building-equipment monitoring, and interaction with autonomous service robots. Digital twins are also being introduced into building-system laboratories to simulate people movement and optimize physical operations before changes are implemented in real environments. Commercial buildings, which represent approximately 46% of demand, benefit most directly because an elevator can become part of the wider building technology ecosystem rather than operating as an isolated mechanical system. APIs increasingly allow elevator availability, traffic information, maintenance data, and operational status to flow into external management dashboards. These integrations strengthen the value of Software, which accounts for approximately 35% of market activity and is expected to gain importance through 2035.

Market Dynamics

Driver

""Predictive maintenance is transforming elevator service from reactive to data driven.""

Predictive maintenance is the strongest direct driver of the Elevator Iot Market because building owners increasingly view elevator availability as a measurable operating-performance requirement. A large commercial building can contain 10, 20, or more elevators, and a single unavailable car can increase passenger waiting times across thousands of daily journeys. Connected platforms provide continuous information from elevators instead of relying exclusively on periodic maintenance visits. Major manufacturers now monitor approximately 1.1 million connected units globally, providing a large installed data base from which algorithms can identify recurring component behavior. Connected systems can collect data during every journey and assess usage, equipment age, operating environment, door behavior, and performance indicators. Predictive alerts allow mechanics to address developing issues during scheduled service visits rather than waiting for a breakdown. This capability increases the commercial value of IoT subscriptions because the benefit is directly connected to reduced disruption and improved building-service availability.

Urbanization and high-rise construction provide an additional structural driver. During 2025, cities contained approximately 45% of the global population of 8.2 billion, more than twice the urban share recorded in 1950. Continued urban concentration increases the number of residential towers, hospitals, hotels, transit hubs, offices, and mixed-use developments that depend on vertical transportation. Commercial applications currently account for approximately 46% of Elevator IoT demand, while Residential contributes approximately 39%, meaning approximately 85% of market activity is directly connected to occupied buildings. As cities become denser, elevator reliability has greater consequences because occupants may depend on elevators for access across 20, 40, or more building floors. Digital monitoring allows building managers to manage larger elevator portfolios without proportionally expanding on-site engineering teams.

Restraint

""Legacy elevator compatibility limits the speed of connected-fleet conversion.""

Legacy equipment is an important restraint because elevators can remain in service for 20 to 30 years or longer, creating large installed fleets with different controllers, communications systems, sensors, drives, and proprietary protocols. A modern cloud platform cannot necessarily access every required parameter from an older control system without additional retrofit Hardware. Hardware represents approximately 38% of market demand partly because older elevators require gateways, sensors, communication modules, cameras, interface equipment, and sometimes controller modernization before meaningful IoT data can be collected. Even major connected-service providers note that their platforms are not compatible with every controller or elevator model. Building owners must therefore evaluate whether a basic sensor retrofit provides sufficient benefits or whether deeper modernization is required. Complex retrofits can become less attractive in small Residential buildings containing only 1 or 2 elevators.

Cybersecurity and data governance create another restraint as elevators become network-connected building assets. Traditional elevators could operate with limited external connectivity, while an IoT platform may connect controllers, gateways, cloud services, mobile applications, APIs, and building-management systems through multiple digital interfaces. Each connection introduces authentication, software-maintenance, encryption, and access-control requirements. A Commercial building integrating 5 different building systems may need to manage elevator data alongside access control, HVAC, security, energy, and tenant applications. Cybersecurity weaknesses can therefore affect both service availability and data confidentiality. Manufacturers increasingly use secure cloud architectures and controlled APIs, but building operators must also maintain network segmentation, account management, software updates, and incident procedures throughout equipment lifecycles that can exceed 20 years.

Opportunity

""Existing elevator fleets create a major retrofit opportunity for connected services.""

The largest commercial opportunity lies in connecting the existing installed elevator base rather than limiting IoT deployment to new equipment. Modernization can add sensors, gateways, cameras, emergency communication, mobile interfaces, and cloud monitoring without replacing every mechanical component. Hardware currently represents approximately 38% of the market, demonstrating the continuing requirement for physical retrofit equipment. Services at approximately 27% create an additional recurring opportunity after connectivity has been installed because building owners require ongoing monitoring, analytics, diagnostics, communications, and maintenance support. A manufacturer with approximately 1.1 million connected units demonstrates the scale achievable when digital services are deployed across both newer elevators and equipment already maintained under long-term contracts. Retrofit strategies are especially relevant in Europe, North America, and Japan, where buildings can contain elevators operating for multiple decades.

Asia-Pacific provides another major opportunity and is projected to grow at approximately 21.8% annually. China, India, Japan, South Korea, and Southeast Asian economies contain some of the world's largest urban populations and continue constructing high-rise residential and commercial buildings. Japan is also emphasizing modernization because approximately 80% of new elevator installations in its domestic market are represented by standard elevator models, creating a large addressable platform for embedded digital functionality. India is emerging as another digital-building growth center, with new smart-building experience facilities introduced during 2026 to demonstrate connected building services. Asia-Pacific's estimated 37% market share combines high new-installation volumes with a growing modernization base, enabling both Hardware and recurring Software and Services opportunities.

Challenge

""Interoperability remains difficult across mixed-brand and multi-generation elevator portfolios.""

Interoperability is one of the industry's most complex challenges because large property owners frequently operate elevators from multiple manufacturers and several technology generations. A corporate property portfolio containing 100 buildings can include thousands of elevators using different controllers, service contracts, data formats, and maintenance systems. Proprietary architectures can make it difficult to create a single dashboard providing consistent performance information across the entire portfolio. Software represents approximately 35% of market demand, and its value increases when information can be normalized across diverse equipment. Open APIs are beginning to improve interoperability, but integration still depends on access permissions, controller compatibility, communication protocols, and cybersecurity requirements. Building owners increasingly expect elevator information to integrate with wider building systems, creating pressure on manufacturers to provide standardized digital interfaces.

Data quality presents another challenge because predictive algorithms depend on accurate and sufficiently detailed equipment information. A connected elevator can generate thousands of operating events over a relatively short period, but individual sensor readings may be affected by installation condition, calibration, component age, environmental temperature, and usage patterns. Algorithms must distinguish normal variation from deterioration without generating excessive false alerts. Major manufacturers are improving accuracy by combining IoT data with decades of maintenance records; one current AI strategy uses elevator operational data together with approximately 30 years of inspection knowledge. This improves context but requires extensive historical databases and engineering expertise that smaller service organizations may not possess. The competitive advantage is therefore shifting toward companies capable of combining Hardware, Software, Services, field knowledge, and AI within a single operating model.

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Segmentation Analysis

By Types

Hardware: Hardware accounts for approximately 38% of the Elevator Iot Market and remains the leading product type because physical connectivity is required before meaningful data can reach cloud platforms. Hardware includes sensors, gateways, communication modules, controllers, cameras, microphones, emergency communication devices, computing equipment, and retrofit monitoring components. Existing elevators may require multiple sensors to measure door operation, motion, vibration, temperature, position, and component status. New-generation platforms increasingly embed connectivity during factory production, reducing the amount of retrofit work required after installation. The segment remains particularly important as property owners connect elevators that may be 10, 20, or more than 30 years old. Hardware design is moving toward compact wireless sensors, edge-processing capability, 4G or 5G connectivity, and devices that can function with multiple controller types.

Software: Software represents approximately 35% of market demand and includes cloud analytics, predictive maintenance, fleet dashboards, customer portals, mobile applications, API platforms, alarm management, digital twins, and service-management tools. Software receives data from connected elevators and converts raw operating information into maintenance recommendations and building-management insights. Advanced platforms provide equipment status 24 hours per day, automated notifications, predictive alerts, service reports, usage information, and multi-building portfolio views. APIs can also transmit elevator availability and traffic data to external systems. Software is expected to gain share through 2035 because analytics capability can be upgraded continuously without replacing physical elevator components. AI increasingly allows systems to prioritize alerts and identify patterns across hundreds of thousands of connected units.

Services: Services account for approximately 27% of market demand and include remote monitoring, predictive maintenance, technical support, installation, integration, data analysis, software management, and connected maintenance contracts. Elevator IoT creates a recurring service model because information generated after installation must be continuously monitored and acted upon. Service teams can use remote diagnostics to arrive at a site with greater knowledge of the fault condition, reducing exploratory inspection time. Connected platforms can also automatically notify mechanics when defined events occur. Service represents a strategic growth area because manufacturers with large maintenance portfolios can connect existing customers without waiting for new construction. A global connected installed base exceeding approximately 1 million units illustrates the scale of recurring digital-service opportunities.

By Applications

Residential: Residential applications account for approximately 39% of Elevator Iot Market demand and include apartment towers, condominiums, housing complexes, luxury residences, and mixed residential developments. Reliability is increasingly important as urban populations shift toward taller residential buildings where occupants may depend on elevators several times each day. Connected services can provide property managers with real-time status, maintenance reports, and notifications without requiring a permanent engineering team on site. Mobile elevator calling and contactless access are also gaining relevance. Residential projects with 2 to 6 elevators can benefit from cloud dashboards that manage all units through one interface. Smart residential developments increasingly integrate elevator access with smartphones, visitor management, security, parking, and home-automation applications.

Commercial: Commercial dominates with approximately 46% market share and includes offices, hotels, hospitals, shopping centers, airports, universities, public buildings, and mixed-use developments. These buildings often operate elevators for more than 12 hours per day and may transport thousands of passengers daily. Elevator downtime therefore has an immediate effect on tenant experience, patient movement, hotel operations, retail access, or workplace productivity. Commercial systems increasingly use predictive maintenance, remote intervention, traffic analytics, building-management APIs, and digital passenger communication. Hospitals have particularly demanding uptime requirements because elevators transport patients, staff, medicine, equipment, and emergency personnel. Large campuses can also use map-based dashboards to supervise 10 or more elevators across multiple buildings.

Industrial: Industrial applications represent approximately 15% of market demand and include manufacturing plants, warehouses, logistics facilities, utilities, factories, production sites, and specialized industrial buildings. Industrial elevators may transport workers, materials, tools, and components under demanding operating conditions. IoT monitoring can track usage intensity, door cycles, vibration, fault conditions, and maintenance requirements. Industrial environments increasingly combine elevators with automated material handling and service robots, making digital interoperability important. A connected elevator can receive calls from autonomous robots and coordinate vertical transportation without direct human interaction. Industrial facilities operating 3 shifts per day can benefit substantially from predictive maintenance because equipment disruptions may affect production or logistics over approximately 24 operating hours.

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Regional Outlook

North America

North America accounts for approximately 32% of global Elevator Iot Market demand and is supported by a large installed elevator base, sophisticated property-management industry, cloud adoption, high labor costs, and extensive commercial-building infrastructure. The United States contributes more than 80% of regional activity and is home to Otis Elevator Company, one of the supplied leading companies. Commercial applications are particularly important because large hospitals, offices, airports, hotels, and universities frequently require continuous monitoring.

Connected elevator services are well established across the region. Modern platforms provide 24/7 equipment visibility, predictive insights, real-time notifications, customer portals, digital emergency communications, and APIs. One major global portfolio contained approximately 1.1 million connected units by the end of 2025. North American building owners are also increasingly connecting elevator performance information to building management systems. Retrofit activity remains significant because many U.S. elevator installations have been in service for more than 20 years.

Europe

Europe represents approximately 25% of global market demand and has a large mature installed base requiring modernization and digital service upgrades. Germany, France, the United Kingdom, Italy, Spain, and major Nordic cities contain significant numbers of office buildings, apartment complexes, hospitals, hotels, airports, and transport facilities. Bosch provides direct competitive representation from Germany and offers an Elevator Cloud architecture integrating Hardware, Software, and Services.

Predictive maintenance and energy efficiency are major regional priorities. European building operators increasingly use real-time monitoring to reduce unnecessary site visits and improve maintenance planning. Connected systems can capture operational data such as covered distance, door openings, start and stop procedures, and emergency events. Retrofitting existing elevators with sensor systems offers an important opportunity because building owners can obtain digital monitoring without replacing the entire lift. The region's approximately 25% market share is therefore supported by both modernization and new smart-building construction.

Asia-Pacific: Asia-Pacific leads with approximately 37% of Elevator Iot Market demand and is projected to grow at around 21.8% annually. China, Japan, India, South Korea, Singapore, Indonesia, and other regional markets continue adding high-rise residential, commercial, transportation, healthcare, and mixed-use buildings. Hitachi provides a major Japanese competitive presence and is expanding the role of AI, IoT, robotics, and digital building services within elevator operations.

Digital innovation accelerated during 2026 as new Japanese elevator platforms integrated real-time building monitoring, smartphone authentication, robot interoperability, regenerative energy technology, and building IoT services. Development is also shifting toward advanced AI trained on operating information and approximately 30 years of accumulated inspection knowledge. Japan remains important for modernization, while India provides significant future growth through rapid urbanization and smart-building investment. Asia-Pacific combines new-equipment connectivity with retrofit potential across millions of existing elevators.

Middle East & Africa

The Middle East & Africa collectively represent approximately 2% of current market demand but offer strong long-term potential. Gulf cities contain extensive high-rise commercial, hotel, residential, retail, and mixed-use development. Smart-city initiatives in Saudi Arabia and the United Arab Emirates are also increasing adoption of digitally integrated building systems where elevators interact with security, building management, robotics, and energy infrastructure.

Africa remains an emerging market, but urbanization is increasing requirements for multi-story residential and commercial buildings. Cloud-based Services can provide value where specialized elevator engineers are concentrated in major cities because remote diagnostics can identify problems before technicians travel long distances. Approximately 45% of the world's population already lives in cities, and continued urban expansion through 2050 will gradually enlarge the addressable regional base for connected vertical transportation.

List of Top Elevator Iot Companies

• Otis Elevator Company (U.S)
• Bosch (Germany)
• Hitachi (Japan)

Top 2 Companies Market Share

Otis Elevator Company: Otis Elevator Company is estimated to represent approximately 24% of competitive activity among the supplied companies, supported by its large elevator service portfolio and extensive deployment of connected digital technology. Approximately 1.1 million units in its global portfolio were connected by the end of 2025. Its IoT platform supports cloud monitoring, predictive maintenance, customer dashboards, automated issue notification, emergency communication, APIs, and integration with service robots. Connectivity is also embedded into newer elevator platforms, allowing digital services to begin immediately after equipment installation. The company's ability to combine Hardware, Software, and Services gives it broad exposure across Residential, Commercial, and Industrial applications.

Hitachi: Hitachi is estimated to account for approximately 19% of competitive activity within the supplied company group, supported by elevator manufacturing, building systems, AI, IoT, remote monitoring, and digital transformation capabilities. During 2026, the company increased strategic emphasis on HMAX for Buildings: BuilMirai, using elevator operating data together with approximately 30 years of inspection records and advanced AI. Its latest connected standard elevators incorporate smartphone authentication, robot interoperability, real-time monitoring, and regenerative energy technologies. Together, Otis Elevator Company and Hitachi represent an estimated 43% of competitive activity within the supplied company set, while Bosch contributes significant independent elevator-cloud and retrofit-monitoring capabilities.

Investment Analysis

Investment in the Elevator Iot Market is increasingly focused on sensor retrofits, edge gateways, cloud platforms, artificial intelligence, cybersecurity, mobile applications, APIs, digital twins, and service automation. Hardware represents approximately 38% of demand and remains important because the existing elevator fleet contains large numbers of non-connected systems. Once physical connectivity is installed, Software and Services collectively account for approximately 62% of market activity, creating recurring opportunities over the remaining elevator lifecycle. Major manufacturers are investing in digital ecosystems rather than isolated monitoring products, allowing operational data to support maintenance, customer portals, building integrations, emergency communications, passenger applications, and modernization decisions. A connected installed base of approximately 1.1 million units demonstrates how recurring digital services can scale across global maintenance portfolios.

Artificial intelligence represents another major investment area. Hitachi is combining elevator operating data with approximately 30 years of field inspection knowledge to improve maintenance quality and technician productivity. Digital twins are being developed to simulate building operations and optimize interactions among elevators, robots, people, access systems, and other equipment. Asia-Pacific's approximately 21.8% projected annual growth makes the region particularly attractive for digital elevator investment because new equipment can be delivered with connectivity already embedded. North America and Europe provide substantial retrofit opportunities because mature installed fleets can be connected using sensors and gateways rather than requiring immediate full replacement. Investment strategies therefore increasingly target both factory-connected new elevators and retrofit kits for installed equipment.

New Product Development

New product development is moving toward elevators that operate as native smart-building devices. In 2026, Hitachi introduced technology for its Urban Ace HF Mirai platform incorporating a 12.1-inch information display, real-time building-equipment monitoring, smartphone authentication, non-contact elevator calling, robot interoperability, and digital building-service integration. Disaster resilience was also strengthened, with automatic temporary restoration capability expanded from earthquakes at the lower end of intensity 5 to events at the lower end of intensity 6 on Japan's 7-stage seismic scale under applicable building conditions. These developments show how elevator IoT is expanding beyond predictive maintenance to combine passenger experience, access control, resilience, building automation, and energy management.

Cloud-service platforms are simultaneously evolving. Connected systems increasingly provide at least 3 levels of functionality covering equipment visibility, real-time intervention, and predictive analysis. Building managers can receive live notifications, access reports and dashboards, monitor multiple sites through campus views, and connect elevator information directly to third-party systems through APIs. Remote service technologies increasingly use cameras and sensor information to verify conditions without requiring an immediate technician visit. Gen360-type platforms can incorporate optional 360-degree hoistway cameras, while new connectivity supports communication with service robots. Product development through 2035 is expected to emphasize AI-assisted diagnosis, automated maintenance scheduling, remote recovery, cyber-secure APIs, voice-over-IP emergency communication, and integration with digital building twins.

Five Recent Developments

• June 2024: Connected elevator platforms continued expanding predictive maintenance capabilities, with global portfolios increasingly combining cloud analytics, real-time operational monitoring, APIs, digital emergency communications, and automated technician notification across multiple building types.
• June 2025: Hitachi announced a new elevator development facility designed to strengthen next-generation elevator and modernization development, while continuing separate digital-service research covering IoT building solutions and smart monitoring technologies.
• December 2025: Otis reported approximately 1.1 million connected units across its global portfolio by year-end, demonstrating large-scale adoption of cloud-connected elevator and escalator monitoring across service and warranty installations.
• February 2026: Hitachi expanded its Building Solutions Lab with digital twin, robot integration, smart-building, elevator connectivity, mobile authentication, and V2X demonstrations designed to strengthen next-generation connected building solutions.
• July 2026: Hitachi expanded its BuilMirai smart-building initiative in India, strengthening regional deployment of digitally integrated building systems as Asia-Pacific elevator IoT demand continued growing above approximately 20% annually.

Report Coverage

The Elevator Iot Market assessment covers current conditions and the 2026-2035 forecast period across all 3 supplied product types and 3 supplied applications. Product analysis includes Hardware with approximately 38% market share, Software at 35%, and Services at 27%. Application coverage includes Residential at approximately 39%, Commercial at 46%, and Industrial at 15%. Regional assessment covers North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, with Asia-Pacific estimated to account for approximately 37% of current demand and projected to expand at approximately 21.8% annually. Technical coverage includes sensors, gateways, cloud analytics, predictive maintenance, digital twins, remote monitoring, APIs, mobile interfaces, artificial intelligence, emergency communication, access integration, and service automation.

The competitive assessment covers the 3 supplied companies: Otis Elevator Company, Bosch, and Hitachi. Analysis considers connected installed bases, predictive analytics, retrofit technology, remote monitoring, building IoT platforms, maintenance services, passenger applications, robotics integration, smart-building connectivity, and AI-enabled maintenance. Current market conditions include approximately 1.1 million connected units within one major global portfolio, 24/7 equipment monitoring, AI models incorporating about 30 years of maintenance knowledge, smartphone-enabled elevator access, 12.1-inch digital passenger interfaces, and advanced building digital twins. The report also evaluates urbanization trends affecting an 8.2 billion global population, including approximately 45% already residing in cities during 2025, and examines how increasingly dense urban development will strengthen requirements for connected vertical transportation through 2035.