Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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It is poignant to emphasise that the industries and sectors have radically transformed rather than simply stating that they have changed continuously over time.
Technological innovations have aided businesses in gaining a competitive edge both domestically and abroad.

koneAmit Gossain, Managing Director of KONE Elevators India, provides a detailed analysis of how his company has survived the numerous disruptions over the years.
He discusses the company’s steady growth in the personal and business markets, its progress in the regional and international markets, and the changing demands of the future.

Q: What are the key reasons for KONE Elevators to sustain itself in the industry for decades?

A: KONE has always focused on three megatrends that have proven themselves to be the key drivers of growth in the elevator and escalator industry. Urbanization, sustainability and technology have been the core components of research and development at KONE.

We strive to improve the flow of urban life by customizing products to match customer specific needs for a seamless experience, cost efficiency and sustainability.

Q: Where does KONE Elevators stand as a commercial or personal elevator industry leader?

A: A consistent rise in investment in residential and commercial infrastructure projects has led to an increase in the elevator and escalator market.

In the construction and as well as elevator industry, digitalization is paving the path for e-commerce, and more home buying with requirements of swift, timely and quality delivery; thus, increasing the need for more warehouse spaces and data centers.

There is also a growing demand for customised elevators. For instance, for hospital elevators, different sizes are in demand. So are for elevators for commercial buildings with high end technology such as turnstile and 24/7 connected services.

Q: Can you elaborate on the steps taken to lead the Indian market vis-a-vis the international one?

A: Having worked in a multi-ethnic set-up and managing several leadership roles in big Multinational companies, both in India and abroad, I can say that India today presents a great investment destination to any global business, thanks to our huge economy, large consumer market, and rich skill set and talent pool. What’s more, economists predict India to be the world’s 3rd largest economy and 3rd largest consumer market by 2030. Strengths in manufacturing, digital and IT, and across the economy are ever more evident.

Q: How has KONE Elevators led the industry in terms of technological innovations?

A: At KONE, we believe that it is the innovations made by us in improving our technology that has facilitated our growth in the elevator industry.

Our innovations fulfil the requirements of each of our customers and build a network of trust and growth. The main component of an elevator is the rope, we have created the revolutionary KONE UltraRope® that is proven to be as strong as conventional steel cables with just 1/5th of the mass.

Not just this, there are innumerable technological innovations by us that have made great advancements in the elevator industry.

Q: How does KONE plan to meet the evolving needs of the industry in the future?

A: Elevators today are becoming more intelligent and connected, thanks to IoT and other tech innovations. KONE 24/7 Connected Services leverages these capabilities to deliver an uninterrupted experience. It enables operators and providers to improve the reliability and accessibility of elevators and escalators, thus elongating their life cycle.

KONE DX Class elevators are the modern manifesto of advanced digital connectivity. They introduce a whole new realm of possibilities with an elevated user experience, enhanced people flow, delightful designs, future-proof services and just the right ambience.

The automated building operations from the KONE DX Class create an access bridge to KONE’s digital solutions, which can further be leveraged with the KONE Partner Ecosystem for efficient management.

Technological innovations have further enabled customers to plug in additional services using the power of open application programming interfaces (APIs). These make integrating devices, apps and services much simpler.

We have also identified that customers have started shifting towards trends and aesthetics too. The iREFRESH, launched in 2021, would be the flag-bearer in this cause. We are excited for the times ahead.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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