OTIS - Otis Worldwide Corp

Otis is the world’s leading manufacturer, installer, and service provider for elevators and escalators, operating in over 200 countries with a strong local presence in more than 70 countries. The company segments its operations into New Equipment, which accounted for 41% of its net sales, and Service, which made up 59%. The New Equipment segment focuses on designing, manufacturing, and installing a range of elevator solutions for various markets including residential, commercial, and government projects. The Service segment provides maintenance, repair, and modernization for elevators and escalators, supported by a robust network of service mechanics globally.

Otis's business model capitalizes on its extensive global footprint paired with local expertise, ensuring efficient service delivery and product innovation. Their focus on digital technology and IoT solutions, such as Otis ONE, allows for real-time equipment monitoring and predictive maintenance, enhancing customer satisfaction and operational efficiency. The company's diverse product offerings, such as the Gen3 and SkyRise elevator platforms, further support its competitive positioning in the market by catering to various customer needs from low-rise to high-rise buildings.