Global RFID Door Locks Market Overview:
RFID stands for radio frequency identification. This non-contact method uses electromagnetic fields in a reader to automatically detect the digital data encoded in RFID tags. In the case of an RFID door lock, the key is the tag. Due to the rising popularity of smart home construction, which combines features like voice control, wireless integration, and remote access, the RFID Door Locks Market is anticipated to expand.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising adoption of smartphones to Control Smart Home Equipment, and Rising Usage of RFID to Secure PC/Network Access and allow only authenticated and authorized personnel to enter secure spaces in various Industry
Market Growth Drivers:
Growing Adoption of RFID locks in commercial and government sector and High demand for access control systems with NFC
Challenges:
Reduced Power Alarm System in RFID Hotel Door Locks, Need To Change the Batteries in Time and Key Cloning
Restraints:
Unaffordable prices of security solutions
Opportunities:
Growing Investment and Development of Smart Home and Smart City and Technological Development in Unaddressed and Untapped cities of Emerging Nations
Competitive Landscape:
Global RFID Door Locks is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Ozone Overseas Pvt. Ltd. (India), Honeywell International Inc. (United States), Godrej & Boyce Manufacturing Company Ltd. (India), Assa Abloy Group (Sweden), Nestwell Technologies (India), United Technologies Corporation (United States), Siemens AG (Germany), Vivint, Inc. (United States), Samsung Electronics Co Ltd. (South Korea) and dormakaba Holdings AG (Switzerland). Additionally, following companies can also be profiled that are part of our coverage like Allegion plc (Ireland), Spectrum Brands, Inc. (United States), MIWA LOCK Co., LTD. (Tokyo), OJMAR, S.A (Spain) and Hettich Holding GmbH & Co. oHG (Germany). Considering Market by Distribution Channels, the sub-segment i.e. Manufacturers will boost the RFID Door Locks market. Considering Market by Access Devices, the sub-segment i.e. Key Cards will boost the RFID Door Locks market. Considering Market by End User, the sub-segment i.e. Aerospace & Defence will boost the RFID Door Locks market.
Latest Market Insights:
In September 2021, Honeywell acquired privately held Performix Inc., a provider of manufacturing execution system (MES) software for the pharmaceutical manufacturing and biotech industries. The acquisition builds on Honeywell's strategy to create the world's leading integrated software platform for customers within the life sciences industry who are striving to achieve faster compliance, improved reliability, and better production throughput at the highest levels of quality.
In August 2022, Kalahari Resorts & Conventions has adopted RFID door lock technologies and the Visionline access management system by Assa Abloy Global Solutions. Kalahari Resorts provide guests with security access credentials that also serve as a form of payment and identification with VingCard RFID locks and the Visionline access management system. With just one RFID wristband or key card, guests can access their rooms, gain entry to other resort areas and purchase items without having to carry around personal credit cards or cash.
What Can be Explored with the RFID Door Locks Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global RFID Door Locks Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in RFID Door Locks
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global RFID Door Locks market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in RFID Door Locks market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes RFID Door Locks Manufacturers, RFID Door Locks Suppliers, Potential Investors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.