NEW DELHI: Huawei has signed a Global Frame Agreement on Internet of Elevators & Escalators (IoEE) with global elevator manufacturer Schindler Group to cooperate in the future on the development of smart Internet-of-Things (IoT) components for a seamless connectivity of elevators and escalators.

Huawei and Schindler will establish global partnership to develop a Connected Elevators Solution that is open, flexible, and scalable. The new IoT connectivity solution is an important element of Schindler’s digital platform and will enable Schindler to better monitor, analyze and leverage data generated from its elevators and escalators, and support the unified connection and management of Schindler’s one million elevators around the world.

A Huawei release said more than one billion users rely on Schindler’s mobility solutions every day. Timely and efficient management of these assets is critical for safety and customer satisfaction.

Schindler Group CEO Thomas Oetterli said: “The cooperation will help us to significantly reduce time to market for our new digital offerings." Huawei Rotating CEO Eric Xu added: “Huawei is pleased to empower Schindler’s digital transformation."

Lux Research reported that, by 2020, the global Industrial IoT (IIoT) will be worth an estimated $ 151 billion. The IIoT includes factory machinery and industrial products, with one typical example being the Internet of Elevators & Escalators (IoEE). IoT technology transmits operational data from the elevators in real-time to enable elevator data simulation, achieving preventive maintenance through and cloud-based big data analysis. Elevator safety will be significantly enhanced, while the operational cost of the elevators can be largely reduced.