We have seen an increasing trend... it is only at the beginning but it will happen, CEO Uday Yadav told the Financial Times.
Yadav points to Japan as a clear example, where almost 30 percent of the population is 65 years of age or older.
Globally, nearly 16 percent of the world's population is expected to be 65 years or older by 2050. At the same time, there are currently more than 22 million elevators worldwide, but 30 percent of these are 20 years or older and may need to be replaced, according to Uday Yadav.
