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Maglev technology, not cables, is what will power elevators in the (near) future. What is Maglev technology, you ask?

Used in some high speed trains, the system uses magnetic fields to propel objects at high speeds along the track without ever touching it. German engineering company ThyssenKrupp AG is developing the first Maglev elevator. As reported by Bloomberg:

The cable-free design, which ThyssenKrupp calls “the holy grail of the elevator industry,” will increase capacity by 50 percent and saves space because it allows more than one cabin to travel through a shaft at one time. It also requires smaller shafts than conventional elevators.

Called the MULTI system, the elevators would travel horizontally as well as up and down and would be used in both mid- and high-rise buildings. The company says it plans to have a prototype running by the end of 2016.

Does this mean that soon condo building elevators will ferry lazy residents right to their doors? Say goodbye to that tedious walk down the hallway!

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