Newly released RFID Locks Market analysis report by Future Market Insights shows that global sales of RFID Locks Market in 2022 were held at US$ 7.4 Billion. With 14.1%, projected growth through 2033, the market is expected to reach a valuation of US$ 36393.0 million by 2033. Mobile Phones are expected to be the highest revenue-generating category, projected to register an absolute dollar opportunity of 17.4% during 2023 to 2033.
| Attributes | Details |
|---|---|
| Global RFID Locks Market Size (2023) | US$ 9702.8 million |
| Global RFID Locks Market Size (2033) | US$ 36393.0 million |
| Global RFID Locks Market CAGR (2023 to 2033) | 14.1% |
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As per the RFID Locks Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the RFID Locks Market increased at around 15.9% CAGR.
The use of sophisticated access solutions like RFID readers is becoming increasingly popular. The preference for electromechanical devices over conventional locking systems has sharply grown and is anticipated to continue. This will present several prospects for development for users of smart locking systems. Several cutting-edge approaches are included by leading companies in the smart lock market, including Wi-Fi-assisted lock and unlocks as well as Bluetooth-based (BLE) locking and unlocking utilizing tablets and smartphones. To make entering credentials or pattern-based locking/unlocking easier, touch displays are also included.
Dormakaba's Mobile Access Solutions is indeed a secured, end-to-end mobile credentials program that uses Bluetooth Low Energy (BLE), the recommended technological advancement for dormakaba mobile-equipped RFID hotel locks. They are convenient and dependable, and ensure security both for the hotel property and visitors. LEGIC Connect is used to transmit mobile access credentials for dormakaba. The LEGIC Connect services are housed in a secure, scalable data centre. The technique is easily adaptable to different uses such as entering parking garages or elevators. It has been designed to fulfil the demands of any hotel in the implementation of its mobile strategy. They provide a variety of services that help operators facilitate the deployment of BLE mobile access using its RFID locks.
RFID locking systems are becoming more popular among company owners and households as urbanization and security demands increase. As a result, to make their electronic locks smarter, lock makers are implementing smart technologies. Some of the characteristics offered by the RFID lock market, particularly in the hotel industry, include ergonomically designed, well-suited design, ADA compliance, universality, and flexibility. Many flats, houses, small businesses, schools, and other such establishments still use traditional key-and-door knob locks on both interior and exterior doors.
ASSA ABLOY Hospitality introduced the VingCard E100 lock, an electronics escutcheon set designed specifically for use with built-in lock cases. The escutcheon set was originally designed keeping back-of-house activities in mind and is appropriate for workplaces and other regular hotel staff spaces. It is RFID key card compatible. The VingCard E100 increases the ability to provide better security access across a whole building or facility. The various door designs seen in office & hotel staff spaces frequently hinder the ability to install contemporary door lock technologies. Because of its small and basic form, the E100 avoids such complications. Because it is DIN and SIS compatible, the E100 may be installed on doors with thin lock casings.
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Additionally, during the course of the projected period, there will be greater chances due to the expansion of digital locking technologies in emerging nations. The low usage rate of RFID locks in low - and – middle-income nations and the potential for access code hacking, however, might impede the expansion of the worldwide RFID locks market. Customers' increased security requirements, which are boosting the development of security solutions globally, have prompted several regional and international businesses to diversify their product offerings.
Linus, a fresh new automated Smart Lock that provides consumers with a high degree of security and design, will be announced and showcased. The Linus Smart Lock, which is powered by the latest technological advancements and also a user-friendly Yale Accessibility app, will provide additional functionality including the ability to lock as well as unlock the door, provide keyless access, and keep a record of who comes and leaves with a 24/7 access history.
Linus was already nominated for an award, and a day after the announcement, they received the 'Ambient Top Pick trophy at CES 2020. Linus is a beginning for any smart home, with a sleek and stylish appearance as well as additional features. The Smart Lock will provide its customers with even more freedom and simplicity in their time-pressed life, without sacrificing style, and can be managed via a smartphone.
The expanding number of residential remodelling projects in North America is a key factor driving the demand for RFID locks. The market for RFID locks in North America is being driven by construction activities. Buildings being built for both residential and non-residential purposes are increasing the demand for new built-in locks. Furthermore, a rising number of consumers and businesses are updating their current lock systems, which is fuelling the desire for the retrofitting industry.
Kwikset, a leading home lock company in the United States, introduced an extended line of products that use Microban SilverShield technology and are accessible to all consumers. For the past four years, Kwikset has been the sole home lock provider of Microban, raising the bar for door hardware. Kwikset was the first home lock manufacturer to provide door equipment having Microban antimicrobial quality control, which was initially revealed at the International Builders' Show (IBS) in 2018.
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By the end of 2033, the United States is predicted to hold the largest market share of US$ 36393.0 million. Rising construction activity, more companies and residences upgrading their existing locking solutions to RFID technology, and an increase in housing invasions and burglaries are all contributing factors to the market expansion.
The mobile Phones category is forecasted to grow at the highest CAGR of over 17.4% during 2023 to 2033. The development of RFID locks that can be accessed via Mobile phones is gaining significant traction. The use of a smartphone or voice control is two more effective ways to open and close doors without using a key. Target end users are projected to utilize RFID locks more frequently as smartphone adoption rises.
An intelligently networked environment based on tried-and-true security architecture is created by Digilock's most recent iteration of smart lock innovation with DigiLink, a cloud-based networking management solution. Sixth Generation locks from gridlock use DigiLink, the most recent development in network management systems, and represent the next step in smart lock technology. DigiLink allows users to control the facilities and customers from everywhere and offers the means to keep their business secure.
The Residential segment is forecasted to grow at the highest CAGR of 14.9% during 2023 to 2033. Due to the expanding smart home traditional architecture, which incorporates remote connection as well as a network connection, and also the rising desire for increased security provided by a smart lock, the residential sector is predicted to develop throughout the anticipated period.
For hotel guests, RFID locks from Qilocks Equipment Ltd. offered contactless admission. The antenna of the label, as well as the microchip or electronic circuit, are the only two key parts of passive RFID tags, as opposed to active RFID tags. Even locks that offer the highest level of protection owing to power anti-cloning technologies require only a modest signal reader to be visible on the door. For visitors to utilize their smartphones in place of the RFID lock readers, the RFID locks are also made to be easily adaptable to new technologies.
The leading players in the global RFID Locks market are ASSA ABLOY AB Hospitality, Dormakaba Group, MIWA Lock, Samsung, Allegion, Godrej Locking Solutions and Systems, Hettich Hettlock, Lock State, Onity (by United Technologies), SALTO Systems. To gain a competitive advantage in the industry, these market players are investing in product launches, partnerships, mergers and acquisitions, and expansions.
Numerous new businesses are anticipated to enter the market as a result of the product's rising demand in countries around the world. On a global level, competition is predicted to rise as a result. Established market participants are projected to broaden their portfolios to combat intense competition.
Similarly, recent developments related to companies in RFID Locks services have been tracked by the team at Future Market Insights, which are available in the full report.
Rising edge-cutting technologies is fueling the demand in the United States.
The growing security concerns impacts in Europe has increased the demand.
The growing smart technologies has necessitated RFID rocks adoption.
The United States held a maximum share of the global market in 2023.
North America to witness lucrative growth opportunities through 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Access Device 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Access Device, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Access Device, 2023 to 2033 5.3.1. Key Cards 5.3.2. Mobile Phone 5.3.3. Wearables 5.3.4. Key Fobs 5.4. Y-o-Y Growth Trend Analysis By Access Device, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Access Device, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Hospitality 6.3.2. Automotive 6.3.3. Aerospace & Defence 6.3.4. Residential, Manufacturing 6.3.5. BFSI 6.3.6. Retail 6.3.7. Transportation & Logistics 6.3.8. Others 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Access Device 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Access Device 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Access Device 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Access Device 9.3.3. By Application 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Access Device 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Access Device 10.3.3. By Application 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Access Device 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Access Device 11.3.3. By Application 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Access Device 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Access Device 12.3.3. By Application 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Access Device 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Access Device 13.3.3. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Access Device 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Access Device 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Access Device 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Access Device 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Access Device 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Access Device 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Access Device 15.5.2.2. By Application 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Access Device 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Access Device 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Access Device 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Access Device 15.9.2.2. By Application 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Access Device 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Access Device 15.11.2.2. By Application 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Access Device 15.12.2.2. By Application 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Access Device 15.13.2.2. By Application 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Access Device 15.14.2.2. By Application 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Access Device 15.15.2.2. By Application 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Access Device 15.16.2.2. By Application 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Access Device 15.17.2.2. By Application 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Access Device 15.18.2.2. By Application 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Access Device 15.19.2.2. By Application 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Access Device 15.20.2.2. By Application 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Access Device 15.21.2.2. By Application 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Access Device 15.22.2.2. By Application 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Access Device 15.23.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Access Device 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. ASSA ABLOY AB 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Bai Fu Co., Ltd. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Digilock 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Dormakaba Group 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Euro-Locks SA NV 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Godrej & Boyce Manufacturing Company Limited 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Onity Inc. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Samsung 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. SenseOn 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Nestwell Technologies 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 17.1.11. Yale 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.11.5.2. Product Strategy 17.1.11.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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RFID Locks Market
