Based in Farmington, Connecticut, U.S., Otis is the world's largest manufacturer of vertical transportation systems, principally focusing on elevators, escalators, and moving walkways.

In 1852, Elisha Otis invented the safety elevator, which was automatically halted in a hoisting rope failure.

[10][11] In the early 1950s, the company introduced "Autotronic", an electromechanical computer system for running a bank of high speed elevator cars, which could predict the traffic flows within a building at specific times of the day and deploy the cars efficiently.

[12] 1977 saw the introduction of "Elevonic" - the successor to Autotronic - which was the first solid state, digital microprocessor-based elevator control system.

In 2020, Otis formed a joint venture called "Poma-Otis Transportation Systems" with the French company Pomagalski to promote these products.

The elevators supplied at this time were brought to Korea in the form of direct imports from overseas factories.

In 1968, Youngjin Electric and Goldstar established elevator manufacturing plants in Juan, Incheon and Changwon, Gyeongsangnam-do, respectively.

After forming an alliance, Hitachi Elevator entered the Korean market in 1979 through a joint venture with Goldstar.

[21] In October 2013, Otis won its biggest ever contract to date, to supply 670 elevators and escalators to the Hyderabad Metro.

[35] In 2001, due to a dated design flaw, 8-year-old Tucker Smith from Bel Air, Maryland was crushed to death by an Otis Elevator after becoming trapped in the gap between the outside door and the inside gate.

[36] On August 14, 2002, Neil Raymond Ricco tripped while exiting an Otis Elevator while working at a Comerica Bank building in San Diego.

Competitors ThyssenKrupp, Schindler Group, KONE, and Mitsubishi Elevator Europe were also fined for participating in the same cartel.

[39] On December 14, 2010, an Otis escalator installed in the International Trade station of Shenzhen Metro Line 1 reversed direction without notice, triggering a stampede that injured 25 passengers.

[40] On July 5, 2011, an Otis 513MPE escalator installed at Beijing Subway Line 4 Zoo Station changed direction without notice, causing 30 people to fall.

A Beijing official said the 513MPE escalator had "defects in design, manufacturing and maintenance", and that Otis had "unavoidable responsibility for the accident".

[40] In March 2017, eighteen people suffered injuries at Hong Kong's Langham Place shopping mall when an escalator maintained by Otis reversed direction from up to down.

[42][43] On July 9, 2018, a one-year-old Otis escalator at Stockholm City Station changed direction from up to a rapid descent, in what local officials called a "free fall", causing minor injuries.

[44] Inspection of the gear boxes of several Otis escalators revealed unexpected rust and heavy wear.