Global RFID Lock Market 2016-2020

Overview of the global RFID lock market

The global radio-frequency identification (RFID) lock market is anticipated to grow rapidly and will post a CAGR of close to 17% during the forecast period. The increasing demand for access control systems with near field communication (NFC) technology will drive the growth prospects for the global RFID lock market in the forthcoming years. NFC is a short-range wireless technology, which is based on RFID and is designed especially for mobile devices such as smartphones. The connection between two NFC-enabled devices is established by bringing the devices in close proximity. One of the major factors responsible for the increasing popularity of NFC is its ability to integrate smart cards into mobile phones with the help of card emulation. In addition, this technology can be used in applications such as payment and ticketing. Moreover, NFC technology can be used for the connection handover functionality, where NFC compatible devices can unlock the Bluetooth-enabled door or RFID lock with the mobile phone or by touching a tag. In addition, NFC technology enables RFID communication between electronic locks with the help of NFC-ready mobile devices. With the help of this technology, guests can the bypass check-in process.

The growing demand for RFID-based furniture locks will drive the growth prospects for the global radio-frequency identification lock market until the end of 2020. One of the major factors responsible for the growing popularity of RFID-based furniture locks is its capability to combine different functions in one chip. Also, these chips can be integrated into an employee’s badge to get control access privileges. Furthermore, these chips in badges, transponders, or bracelets allow employees to enter the company departments using contact-free transmission.

Competitive landscape and key vendors

The global RFID lock market is highly fragmented and competitive due to the presence of a vast number of big and mid-sized players. It has been observed that these vendors are increasingly focusing on acquiring local players to expand their businesses and market size. In addition, these vendors are adopting new technologies to strengthen their competitiveness in the market. Moreover, to sustain the intense competitive environment, vendors are compelled to differentiate their products based on battery life. Some of the factors such as intense competition, rapid advances in technology, and changes in consumer preferences challenge these vendors.

Key vendors in this market are -

• ASSA ABLOY Hospitality
• Dormakaba
• MIWA Lock
• Samsung

Other prominent vendors in the market include Allegion, Godrej Locking Solutions and Systems, Hettich Hettlock, LockState, Onity, and SALTO Systems.

Segmentation by geography and analysis of the RFID lock market

• APAC
• Europe
• North America
• ROW

In terms of geography, North America accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the increasing demand for this technology from the residential sector.

Growth drivers, challenges, and upcoming trends: Integration of RFID locks with mobile access solution

One of the major factors responsible for the popularity of mobile connectivity is the growing opportunity for hotels to increase their brand loyalty by offering easy to use mobile access solutions.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global radio-frequency identification (RFID) lock market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth. Key questions answered in the report include

Key questions answered in this report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global RFID lock market?
• What are the key market trends impacting the growth of the global RFID lock market?
• What are the challenges to market growth?
• Who are the key vendors in the global RFID lock market?
• What are the market opportunities and threats faced by the vendors in the global RFID lock market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global RFID lock market?

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