RFID Locks Market Size, Share, Demand and Forecast Report to 2027

RFID locks are specifically designed for locking and unlocking operations which contains encoded data on the RFID chip. They are significantly used in hospitality industry and relied upon holes that were pierced into the cards. RFID is referred as radio frequency identification technology which is automatic technology that is used to transfer of radio signals and also for detection of various objects like assets, goods, and vehicles.

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Rise in property crime, home invasions, and burglaries in past few years which is the key driving factor expected to boost the global RFID locks market growth. Furthermore, rise in penetration of smart phones and its user friendly experience will have the positive impact on market growth. Moreover, continuous technological advancements will fuel the market growth. Also, rise in smart lock user will support the global RFID locks market growth.

However, low awareness about RFID locks and low literacy about its usage are the restraining factors which are expected to hinder the global RFID locks market growth. Also, high cost of security solutions will affect the market growth.

Market Key Players

Various key players are discussed in this report such as Honeywell International Inc, dorma+kaba Holdings AG., Samsung Electronics Co Ltd, Siemens AG, Vivint, Inc., United Technologies Corporation, Nestwell Technologies, Assa Abloy Group,and Godrej & Boyce Manufacturing Company Ltd.

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Market Taxonomy

By Access Device

Mobile Phones
Key Cards
Key fobs

By Application

BFSI
Retail
Transportation & Logistics
Manufacturing
Residential
Aerospace & Defense
Automotive
Hospitality
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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