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2020-11-06
Africa’s Home Elevators Market
Today we will talk about a rather special region that is often overlooked - the African continent. Africa has made remarkable progress in recent decades and this also applies to the elevators and escalators market. Let's now take a closer look at what is the situation there!
The Fast Growing Real Estate.
A growing real estate sector and increasing demand for housing catering to the aged and physically challenged are driving the growth of Africa’s residential elevators market. Furthermore, new efforts to enforce hitherto ignored building codes — especially in Kenya, Ghana, and Botswana — have raised prospects of an increase in demand for the platform and cabin residential lifts or similar vertical- transportation (VT) equipment, as these countries endeavor to enhance safety and quality of life, particularly in urban areas.
Foreign direct investment in the hospitality industry.
In 2018, there were 110 new hotel construction deals signed in Africa, with a combined 18,655 rooms, up from the 94 deals with 14,606 rooms in 2017, creating further lift business opportunities. Development activity continues to be mainly in city centers, which account for almost 80% of the deals in the pipeline and 72% of the rooms. A handful of “very large resorts” account for the remainder.
Growing at a slower pace, Africa’s population is
expected to double by 2050.
With Africa’s population expected to double from the current 1.1 billion by 2050, the demand for housing and associated amenities structures is likely to surge sharply as the estimated urban population grows, a potential trigger for the consumption of modern and convenient residential elevators.
The conclusion: VT market is more than just promising
The outlook for Africa’s overall market for elevators and escalators is promising. India-based market analyst 6Wresearch says the region is expected to experience “expansion of infrastructure in the areas of retail, hospitality, commercial offices, healthcare, and residential apartments.” This promises to generate revenues for VT players through 2024. While projecting a compound annual growth rate of 6% for the African VT market over the next six years, 6Wresearch attributes market expansion to an “expected increase in foreign direct investment and urbanization across all major countries.”
Clearly, the development of new infrastructure and an increase in the urban population immediately leads to an increase in the demand for information and... advertising. For good reason.
Digital signage advertising mediums are engaging, cost-effective ways of increasing sales and awareness. And elevators offer advertisers an ideal advertising setup.
People are stuck in one location, probably with a lack of cell phone signal, and have very little to look at. They are ready to give you their attention! It’s a perfect spot for your digital signage.
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Eastidea provides one-stop solutions for creating
an elevator advertising network.
Ei products are an elegant solution for marketers seeking to reach and influence your target audience while they are riding in the elevator.
Ei-Mini Lifter & Ei-Slim Dual are our flagship products, unveiled this year by Eastidea at ISE 2020 in Amsterdam. It’s a projector and dual-screen player, designed primarily for elevator advertising and retail places that use AI-based Addreality CMS software all in one platform for content management and video analysis to determine gender and age, track, analyze customers’ emotions and count dwell time, bounce rate and engagement rate of your advertising campaign in a real-time.
Vibrant colors, HD graphics, and interactivity rolled into Ei products to ultimately higher your advertising campaign profitability.
All Ei Products are equipped with AI-driven video analytics technology and provide the perfect platform to remotely update and configure content to suit any location.
Featuring energy-saving technology, compact Ei Product uses less electricity and generates less heat than other units in the same class. They are an efficient and eco-friendly solution.
Elevate the space by using Ei products in a variety of settings such as lobbies, hallways, and entrance foyers. Learn more about usage scenarios here.
For more information about products, delivery, payment terms, or any other matter. Please drop us an email and we will back to you shortly.
Email: info@yeastidea.com
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LinkedIn: www.linkedin.com/company/eastidea
Dmitry Shklyar, Founder of Eastidea on Instagram: @dmitry_shklyar
Sources:
[1] Elevator World, 2018
[2] Credit Suisse Equity Research, Global Elevators & Escalators - 22 March 2018
[3] 6Wresearch Reports, 2019