The future of the global RFID Lock Market looks promising with opportunities in the residential, hospitality, automotive, government, retail, and BFSI markets. The global RFID lock market is expected to reach an estimated $13.6 billion by 2030 with a CAGR of 18.6% from 2024 to 2030. The major drivers for this market are increase in safety and security concerns, introduction of touch screens and wi-fi and bluetooth-based (BLE) locking and unlocking support, and rising demand for near-field interaction access control systems.
Some of the key questions answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the RFID lock market by
access device (key cards, mobile phone, and wearables), end use industry
(residential, hospitality, automotive, government, retail, BFSI, and others),
and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will
grow at a faster pace and why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the
emerging trends in this market and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, key
card, mobile phone, and wearables are the major segments of RFID lock market by
access device type. Lucintel forecasts that key card is expected to witness
highest growth over the forecast period. Within this market, residential is
expected to witness highest growth over the forecast period due to significant
application of RFID lock in smart home design.
North America is
expected to witness highest growth over the forecast period due to continous
expansion of constructional activities and significant demand for advanced
built-in locks in commercial and residential spaces in the region.
Assa Abloy, Dormakaba,
Euro-locks, Godrej & Boyce Manufacturing, Hanman International, Hettich
Holding, MIWA Lock, Nestwell Technologies, Ojmar SA, and Onity are the major
suppliers in the RFID lock market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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