PUBLISHER: IMARC | PRODUCT CODE: 1370483
PUBLISHER: IMARC | PRODUCT CODE: 1370483
RFID Locks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Abstract
Market Overview:
The global RFID locks market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.2% during 2023-2028.
An RFID lock is designed to operate both as an unlocking and locking device. Data is encoded on the RFID chip of each access device. As soon as the access device approaches the lock's (reader's) antenna, the chip transmits the data, identifying the user, and the data is transmitted by the RFID chip, which is implemented in each access device. RFID locks have several benefits, such as ergonomic and well-suited design, ADA compliance, universality, and flexibility. The electronic security provided by RFID locks is beneficial to organizations in multiple ways, including increased security, compliance, audit trails, and efficiency. As a result, they are swiftly replacing traditional key-and-door knob locks on both interiors and exterior doors of commercial as well as residential spaces.
RFID Locks Market Trends:
The market is majorly driven by a paradigm shift toward the adoption of electromechanical devices over conventional locking systems. This can be attributed to the increasing concerns regarding safety and security among the masses. With rapid urbanization, there has been a considerable expansion of conurbations and cities with the growing number of inhabitants, which is creating the escalating need for advanced and sophisticated infrastructure solutions. In addition to this, continual technological advancements, such as touch displays, Wi-Fi-and Bluetooth-based (BLE) locking and unlocking assistance, are fueling the market. Significant growth in the hospitality, tourism and real estate industries resulting in the construction of new commercial buildings are also providing an impetus to the market. Some of the other factors creating a positive outlook for the market include the inflating disposable income levels of consumers, continual product innovations, penetration of high-speed internet connectivity, the growing adoption of artificial intelligence (AI) and internet of things (IoT), and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global RFID locks market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on access device and end user.
Breakup by Access Device:
Key Cards
Mobile Phone
Wearables
Breakup by End User:
Residential
Hospitality
Automotive
Government
Retail
BFSI
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Assa Abloy AB, Dormakaba Group, Euro-locks SA NV (Lowe & Fletcher Group), Godrej & Boyce Manufacturing Co. Ltd., Hanman International Pte. Ltd., Hettich Holding GmbH, MIWA Lock Company Ltd, Nestwell Technologies, Ojmar SA, Onity Inc., SALTO Systems S.L, Senseon and Yale.
Key Questions Answered in This Report
- 1. What was the size of the global RFID locks market in 2022?
- 2. What is the expected growth rate of the global RFID locks market during 2023-2028?
- 3. What are the key factors driving the global RFID locks market?
- 4. What has been the impact of COVID-19 on the global RFID locks market?
- 5. What is the breakup of the global RFID locks market based on the access device?
- 6. What is the breakup of the global RFID locks market based on the end user?
- 7. What are the key regions in the global RFID locks market?
- 8. Who are the key players/companies in the global RFID locks market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global RFID Locks Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Access Device
- 6.1 Key Cards
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Mobile Phone
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Wearables
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by End User
- 7.1 Residential
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Hospitality
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Automotive
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Government
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Retail
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 BFSI
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7 Others
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Assa Abloy AB
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 Financials
- 13.3.1.4 SWOT Analysis
- 13.3.2 Dormakaba Group
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.3 Euro-locks SA NV (Lowe & Fletcher Group)
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 Godrej & Boyce Manufacturing Co. Ltd.
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.5 Hanman International Pte. Ltd.
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.6 Hettich Holding GmbH
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.7 MIWA Lock Company Ltd
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 Nestwell Technologies
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 Ojmar SA
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.10 Onity Inc.
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.11 SALTO Systems S.L
- 13.3.11.1 Company Overview
- 13.3.11.2 Product Portfolio
- 13.3.12 Senseon
- 13.3.12.1 Company Overview
- 13.3.12.2 Product Portfolio
- 13.3.13 Yale
- 13.3.13.1 Company Overview
- 13.3.13.2 Product Portfolio
- 13.3.1 Assa Abloy AB
List of Figures
- Figure 1: Global: RFID Locks Market: Major Drivers and Challenges
- Figure 2: Global: RFID Locks Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: RFID Locks Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: RFID Locks Market: Breakup by Access Device (in %), 2022
- Figure 5: Global: RFID Locks Market: Breakup by End User (in %), 2022
- Figure 6: Global: RFID Locks Market: Breakup by Region (in %), 2022
- Figure 7: Global: RFID Locks (Key Cards) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: RFID Locks (Key Cards) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: RFID Locks (Mobile Phone) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: RFID Locks (Mobile Phone) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: RFID Locks (Wearables) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: RFID Locks (Wearables) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: RFID Locks (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: RFID Locks (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: RFID Locks (Hospitality) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: RFID Locks (Hospitality) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: RFID Locks (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: RFID Locks (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: RFID Locks (Government) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: RFID Locks (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: RFID Locks (Retail) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: RFID Locks (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: RFID Locks (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: RFID Locks (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: RFID Locks (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: RFID Locks (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: North America: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: North America: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: United States: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: United States: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Canada: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Canada: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Asia-Pacific: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Asia-Pacific: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: China: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: China: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Japan: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Japan: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: India: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: India: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: South Korea: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: South Korea: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Australia: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Australia: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Indonesia: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Indonesia: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Others: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Others: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Europe: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Europe: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Germany: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Germany: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: France: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: France: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: United Kingdom: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: United Kingdom: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Italy: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Italy: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Spain: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Spain: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Russia: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Russia: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Others: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Others: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Latin America: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Latin America: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Brazil: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Brazil: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Mexico: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Mexico: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Others: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Others: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Middle East and Africa: RFID Locks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Middle East and Africa: RFID Locks Market: Breakup by Country (in %), 2022
- Figure 75: Middle East and Africa: RFID Locks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Global: RFID Locks Industry: SWOT Analysis
- Figure 77: Global: RFID Locks Industry: Value Chain Analysis
- Figure 78: Global: RFID Locks Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: RFID Locks Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: RFID Locks Market Forecast: Breakup by Access Device (in Million US$), 2023-2028
- Table 3: Global: RFID Locks Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 4: Global: RFID Locks Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: RFID Locks Market: Competitive Structure
- Table 6: Global: RFID Locks Market: Key Players
