Qaisar Azeemi,
I think you're a little cofused.
8051, PIC, ARM, SPARC, MIPS, etc...describe the logic CORE of the device (the CPU).
ADCs, PWMs, Timers, USB controllers, Ethernet are peripherials that surround the CORE.
A microcontroller is actually a SOC (system on chip). It has the CPU and other surrounding peripherials (such as an ADC) on the same chip.
For example, 2 devices that use an ARM cpu core can have very different peripherials...
Determining the exact device to use isn't a simple decision. You have to be very familiar with the end application and the requirements in order to make a wise decision.
There're many things to consider:
Power consumption, available peripherials, foot print, cost, memory...
---------- Post added at 12:48 ---------- Previous post was at 12:38 ----------
As a general rule, I'd use the simplest device that can do the job.
If you can controller your elevator using a simple 8 bit PIC, there's no reason to use a power hungry, expensive and large 32 bit dual core ARM with 4GB of external memory.
However, if you want to provide internet access and do facial recognition of the people that use your elevator, probably - a simple AVR will cut short.