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2020-10-30
ISSUE 6.5 China
Today we will talk about one of the giants in the elevators and escalators industry - China. I believe, we have all heard about the speed with which high-rise buildings are growing in China, so let's now take a closer look at what is going on out there.
Rising China!
Rapid urbanization created explosive growth for the vertical-transportation market in China. Speaking generally about the tall-building market, if you take a look at the CTBUH Year in Review 2019, it is clear there is still a lot of building going on. China leads the world in terms of tall buildings, completing 57 of 200-meter plus buildings in 2019, representing 45 percent of the total.[1]
China has an installed base of approximately 6.2 million elevators and escalators or approximately more than 24% of the global total. Rapid tall-building growth over the past decade laid the groundwork for a healthy maintenance-market outlook, which grew by 18% in 2014, 15.3 % in 2015, and by 2020, China is expected to be home to 40% of the world’s installed base.[2]
However, the market is anticipated to record growth on the back of improving economic conditions, further decline in demand in China, and political unrest in the Hong Kong region is expected to boost the growth, particularly in the Southeast region during the forecast period. There are many wealthy provinces that have dense populations and not enough elevators to serve them. China’s average elevator/escalator density (number of units per 1,000 people) is 2.2, compared with 6 in Japan and 4 in Russia.[4]
Big Cities, Big New Technology
China has 14 cities with populations in excess of 5 million, including Shanghai with 22 million people.[3] It is here that companies debut their most impressive innovations, such as advertising in elevators.
China’s largest search engine Baidu Inc. led a 2.1 billion yuan (US$302 million) investment in, a firm that displays advertisements in elevators. In an announcement, Baidu said it has formed a strategic partnership to “jointly build a new ecosystem of intelligent marketing and offline media in the era of artificial intelligence.”
More and more media companies deploy LED display screens in elevators in residential and office buildings across the country. While people watch the ads in the comfort of the elevator, the advertisers also can monitors their behavior by using AI-driven video analytics technology, which can be recorded and uploaded to a database via WiFi or LAN. Such information allows for enhanced customer experience, tailor the ads and optimized performance to the target audience, reduced cost, and ultimately higher your advertising campaign profitability.
Eastidea provides one-stop solutions for creating Elevator Ad 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.
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[1] (http://www.skyscrapercenter.com/year-in-review/2019/)
[2] Elevator World, 2018
[3] Wikipedia, “List of cities in China by population and built-up area” (en.wikipedia.org/wiki/List_of_cities_ in_China_by_population_and_built-up_area).
[4] Credit Suisse Equity Research, Global Elevators & Escalators - 22 March 2018
Asia Pacific/India