From machines to smart systems: cloud-based iot for lift modernization and predictive maintenance
Used every day, the lifts provide an essential means of fast, safe and comfortable access to different floors in buildings. The installation of lifts in new or existing buildings has an increasingly important role to play in an ageing society and as a growing population is moving to cities. In the city of the future, the most important transportation system will not be cars, buses, subways, or even futuristic monorails, it will be the lift! 
Europe counts today more than 5.85 million lifts in service. Around 70% of them were installed before 1999 and they do not assure the highest safety levels currently expected, which means that fatal accidents still occur in the EU. Moreover, lifts are a major capital investment for building owners and managers. Current maintenance procedures are based on periodic inspections which, despite the number of visits, produce poor results in terms of performance (MTTR and MTBF) and uptime, implying high maintenance costs and low effectivity. 
The combination of old systems and poor maintenance models is holding back the EU lift market. The lack of data impedes the optimization of maintenance models. Leveraging digital technologies such as IoT (Internet of Things) to extract data out of connected lifts can solve this problem. 

Our company IOTTY is an Italian start-up fully aware of the importance of using the Internet of Things in the lift industry to anticipate equipment failures and respond more quickly to critical situations. Addressing the concern of lift manufacturers, maintenance companies, building owners and insurers, we present e-BlueBox, an innovative tool for lift modernization that leverages the IoT to reach higher standards of safety and implement predictive maintenance. With clear benefits (-25-30% accidents, -10-40% maintenance costs, equipment downtime reduced by 50%), e-BlueBox will allow IOTTY to grow sustainably, capturing €29.6 million revenues in its first 4 years of commercialization.