| | JUNE 20208India is the world's second-larg-est elevator and escalator market today with the current market size of more than 50,000 units per year. The development of high-rise office buildings & apartments, multi-storey shop-ping & entertainment complex-es, and increasing urbanisation in today's overcrowded cities are the driving factors for the ele-vator industry to innovate and ensure vertical transportation is efficient and user-friendly. The elevator industry fol-lows four megatrends that drive THOUGHT LEADERSHIPBy Amit Gossain, Managing Director, KONE Elevator IndiaAmit boasts of having over 25 years of experience across sales, marketing, business development, product management and corporate affairs verticals. Prior to joining KONE in 2015, he held the role of Executive VP at JCB India.ELEVATOR INDUSTRY CALLS FOR HOLISTIC USER EXPERIENCEgrowth ­ urbanization, demograph-ic change, safety, and environment. The increasing number of high-rise buildings is driving demand for passenger elevators across differ-ent end-user segments including residential, commercial, industrial and government institutions. Ac-cording to the United Nations Pop-ulation Fund, approximately, every sixth person lives in India and near-ly 40 percent of these people will or will have already moved to megaci-ties in India. In this scenario, devel-opers are increasingly looking at high-rise structures as a means to accommodate the increasing popu-lation in cities. All segments are ex-panding, and the need for cities go-ing vertical has become a necessity.The vertical transportation in-dustry is rapidly making strong strides in technological develop-ment to ensure utmost safety, ride
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