In December 2025, MarketsandMarkets, a global authoritative industry research institution, officially released the 2025 Global Smart Elevator Industry Market Report, announcing the 2025 global top 10 countries by smart elevator market size. According to the report, the total size of the global smart elevator market reached 12.8 billion US dollars in 2025, a year-on-year increase of 15.2%, the growth rate far exceeded that of the traditional elevator market, making it the fastest growing sub-sector in the elevator industry. The TOP 10 ranking released this time is as follows: 1. China, with a market size of 6.15 billion US dollars, accounting for 48.0% of the global total, a year-on-year increase of 18.7%, firmly ranking first in the world; 2. United States, with a market size of 1.68 billion US dollars, accounting for 13.1% of the global total, a year-on-year increase of 12.5%; 3. Germany, with a market size of 870 million US dollars, accounting for 6.8% of the global total, a year-on-year increase of 10.2%; 4. Japan, with a market size of 750 million US dollars, accounting for 5.9% of the global total, a year-on-year increase of 9.7%; 5. South Korea, with a market size of 520 million US dollars, accounting for 4.1% of the global total, a year-on-year increase of 11.3%; 6. United Kingdom, with a market size of 480 million US dollars, accounting for 3.8% of the global total, a year-on-year increase of 9.5%; 7. France, with a market size of 390 million US dollars, accounting for 3.0% of the global total, a year-on-year increase of 8.7%; 8. Singapore, with a market size of 320 million US dollars, accounting for 2.5% of the global total, a year-on-year increase of 10.8%; 9. Australia, with a market size of 280 million US dollars, accounting for 2.2% of the global total, a year-on-year increase of 9.2%; 10. India, with a market size of 250 million US dollars, accounting for 2.0% of the global total, a year-on-year increase of 22.3%, ranking first among the top ten countries in the world in terms of growth rate. The report also pointed out that the core growth drivers of smart elevators come from the construction of smart cities, the intelligent upgrading of buildings, and the demand for intelligent transformation of old elevators. The in-depth application of IoT, artificial intelligence and big data technologies has promoted the proportion of smart elevators in global new elevator installations to reach 65%. The global smart elevator market will still maintain an average annual growth rate of more than 12% in the next 5 years.