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RFID Lock Market: Lucrative Opportunities Across Globe

RFID lock market is fragmented and competitive owing to the extensive presence of a large number of players, RFID lock market is segregated into

A radio frequency identification (RFID) lock haselectromagnetic fields that spontaneously identifies and tracks devices whichare attached to objects. Rise in demand for access regulated systems with nearfiled communication (NFC) technology is expected to drive developments in theRFID lock market during the forecast period. NFC technology is a short- rangedwireless technology that is created on RFID and is specially designed for smartphonesand other mobile devices. The link between the two NFC facilitated devices isrecognized by fetching devices in the vicinity. A key factor responsible forthe rising acceptance of NFC is its capacity to assimilate smart cards intomobile phone devices with the assistance of card simulation. This technologycan also be used for ticketing and payment. NFC technology is widely used forthe bond assignment functionality, where NFC compatible devices are used forunlocking the Bluetooth supported door or a RFID lock with the help of mobilephones or by touching a tag. Additionally, NFC technology helps in RFIDcommunication among electronic locks with the assistance of NFC-ready mobiledevices. Rise in demand for RFID-based furniture locks is expected to drive thedemand for RFID locks. Growing popularity of RFID-based furniture locks lies in its capability of integrating into an employee’s symbol to get control ofaccess privileges. The chips which are embedded in badges, bracelets, andtransponders allow employees to gain entry into the organization’s departmentsby contact free-transmission.

By geography, the RFID lock market is segregated into NorthAmerica, Europe, Asia Pacific, Middle-East & Africa, and Latin America.North America held the key share of the RFID lock market in 2015 and isanticipated to remain dominant during the forecast period. Rise in demand fortechnology in the residential sector is one of the key factors driving the RFIDlock market in this region. Increasing demand for RFID locks combined withmobile access solutions is driving demand in North America. The U.S is one ofthe large markets for RFID locks in North America. Europe has a considerableshare in the global RFID lock market owing to the increasing popularity ofmobile connectivity. This is a growing opportunity for hotels to drive thedemand for RFID locks by using mobile access solutions. Germany and Franceaccount for majority of the market share in this region. Asia Pacific is one ofthe fast growing regions for RFID locks and is projected to remain so over theforecast period. Adoption of RFID based locks is one of the major factorsdriving the RFID lock market in this region. China and Japan are likely tocreate more opportunities for the RFID lock market in this region. Middle East& Africa has an emerging RFID lock market due to the wide popularity ofsmart home devices used for residential purposes. Saudi Arabia is one of thelarge markets in the RFID locks market in this region. Latin America is anemerging region for this market.

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 The RFID lock market is fragmented and competitive owing tothe extensive presence of a large number of players. Global manufacturers areaiming to acquire local players in order to expand business. Manufacturers areadopting innovative technologies in order to expand their business worldwide.The key players in the RFID lock market are ASSA ABLOY Hospitality, MIWA Lock,Dormakaba, and Samsung. Some of the key vendors in the RFID lock market areGodrej Locking Solutions and Systems, Allegion, LockState, Onity, SALTOSystems, and Hettich Hettlock.

The report offers a comprehensive evaluation of the market.It does so via in-depth qualitative insights, historical data, and verifiableprojections about market size. The projections featured in the report have beenderived using proven research methodologies and assumptions. By doing so, theresearch report serves as a repository of analysis and information for everyfacet of the market, including but not limited to: Regional markets,technology, typesScience Articles, and applications.

 

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