RFID Lock Market Report: Trends, Forecast and Competitive Analysis to 2030

RFID Lock Trends and Forecast

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.

A more than 150-page report is developed to help in your business decisions.

RFID Lock by Segment

The study includes a forecast for the global RFID lock by access device, end use industry, end use industry, technology, and region.

RFID Lock Market by Access Device [Shipment Analysis by Value from 2018 to 2030]:

• Key Cards
• Mobile Phone
• Wearables

RFID Lock Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Hospitality
• Automotive
• Government
• Retail
• BFSI
• Others

RFID Lock Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of RFID Lock Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies RFID lock companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the RFID lock companies profiled in this report include-

• Assa Abloy
• Dormakaba
• Euro-locks
• Godrej & Boyce Manufacturing
• Hanman International
• Hettich Holding
• MIWA Lock
• Nestwell Technologies
• Ojmar SA
• Onity

RFID Lock Market Insights

Lucintel forecasts that key card is expected to witness highest growth over the forecast period.

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.

Features of the Global RFID Lock Market

Market Size Estimates: RFID lock market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: RFID lock market size by access device, end use industry, and region. in terms of value ($B).

Regional Analysis: RFID lock market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different access devices, end use industries, and region.s for the RFID lock market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the RFID lock market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the RFID lock market size?

Answer: The global RFID lock market is expected to reach an estimated $13.6 billion by 2030.

Q.2. What is the growth forecast for RFID lock market?

Answer: The global RFID lock market is expected to grow with a CAGR of 18.6% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the RFID lock market?

Answer: 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.

Q.4. What are the major segments for RFID lock market?

Answer: The future of the RFID lock market looks promising with opportunities in the residential, hospitality, automotive, government, retail, and BFSI markets.

Q.5. Who are the key RFID lock market companies?

Answer: Some of the key RFID lock companies are as follows:

• Assa Abloy
• Dormakaba
• Euro-locks
• Godrej & Boyce Manufacturing
• Hanman International
• Hettich Holding
• MIWA Lock
• Nestwell Technologies
• Ojmar SA
• Onity

Q.6. Which RFID lock market segment will be the largest in future?

Answer: Lucintel forecasts that key card is expected to witness highest growth over the forecast period.

Q.7. In RFID lock market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• 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?