RFID Electronic Locks Market By Access Device (Cards, Mobile Phones, Wearable, Key Fobs), By End-user (Government & Defense, Corporates, Banking & Finance, Healthcare, Residential, Retail, Hospitality, Automotive, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026
"Growing Penetration of RFID Technology along with Increasing Affordability to Drive the RFID Electronic Locks Market"
Wide choices of making life easier for users by developing technologies are increasing the demand for smart buildings day by day. Therefore, smart facilities with advanced security measures has become a major driving factor for RFID electronic locks market. The market set to grow with significant CAGR during the forecast period from 2018 to 2026, accounted for US$ 3.25 Bn in 2017. RFID locks built to secure the asset with smart and fast operation along with enhanced security. Required information encoded on the RFID chip and each time the permissible gadget encounters lock, the mod chip pass on the reports analyzing the data. The RFID electronic locks market primarily driven by the swiftly rising penetration of RFID technology across the end-users. Factors such as steadily diminishing price and wide applications has guaranteed strong market growth over the period. RFID electronic locks offered with wide price range initiating as low as US$ 20 to more than US$ 1000, pertaining particular application. The market deeply determined by retail and corporate offices comprising to more than 1/3rd of the market value generated worldwide. Prime retail companies such as Metro AG, Target Corporation and Walmart, Inc. have already regulated the use of RFID technology for effective asset and goods safety.
"Cards to Dominate the Market; Mobile Phones Segment to Register the Highest Growth"
With standard smart card mode, the system keeps locked until opened with the key card that has access rights to the asset. Information regarded permissible entity encoded on the cards and each time the person encounters, the systems unlocks after analyzing authorized data. These cards also used as multifunctional tool as with some modification it widens the application area. Along with locking functionality these cards used as identity cards in corporate offices, retail and other sectors. Similarly, following cashless transaction mode, such cards used for transaction with encoded customer identity. Nevertheless, in the following years, the mobile phones segment expected to register the highest growth rate. With advancement in Near Field Communication (NFC) technology, mobile phones are witnessing rapid traction as a new approach to the alternative access devices. Rapidly growing smartphone users with application of RFID locking functionality expected to surge the higher growth of segment compared to other devices.
"Steady Growth of End-user Industry to Ensure Fastest Growth of RFID Electronic Locks Market in Asia Pacific"
Asia Pacific expected to exhibit comparatively higher market growth throughout the forecast period, principally due to development of end-user industries. Asia Pacific incorporates the flourishing retail sector, demonstrating nearly 5% growth rate every year since 2015. Similarly, industrial and commercial sector in China, Japan, South Korea and India demonstrating promising growth since last few years. These countries expected to remain the most lucrative markets on account of rapidly growing automotive, hospitality and transportation & logistics sectors here. The Asia Pacific region closely followed by North America due to higher adoption in smart applications. Similarly, Europe expected to enroll robust growth rate due to rapidly growing healthcare, corporates and banking & finance sector among others. Swift growth of end-use industries along with growing smart security techniques, RFID electronic locks market expected to witness comparatively higher growth across the globe.
"Mergers & Acquisition to Remain the Key Strategy"
RFID electronic locks market intensely fragmented in nature with major players such as Assa Abloy Group, Dormakaba Holdings AG and Allegion plc. among others demonstrating about 30% of overall market shares. Gaining critical mass is a key differentiator in this market. Players are aiming for mergers & acquisition to widespread the customer reach for absorbing maximum shares in global market. For instance, Assa Abboy Group has made over 200 acquisition in door locking systems business since its inception. Prime instances of acquisition in RFID electronic lock systems include acquisition of Aontec Teoranta by Assa Abloy Group; acquisition of Creativesystems by TYCO International PLC; alliance of Dormakaba Holdings AG with Epproach Communications. Similarly innovation in product offering becoming key strategy for continued sustainable growth of major players. For instance, in June 2018, Dormakaba Holdings AG announced Bluetooth Low Energy (BLE) enabled access control systems offering functionality through mobile phones. Similarly, in March 2018, Assa Abloy group expanded innovative RFID lock technology to DIN and SIS doors with new addition of products. Key players of global RFID electronic locks market includes Assa Abloy Group, TYCO International PLC, Siemens AG, Honeywell International Inc., Godrej & Boyce (G n B), NestWell Technologies, United Technologies Corporation, Vivint, Inc., Samsung Electronics Co. Ltd., Dormakaba Holdings AG, Spectrum Brands Holdings, Inc., Allegion plc., Hettich Holding GmbH & Co., Onity, Inc., SALTO Systems S.L. and Others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.
Key questions answered in this report
- What was the market size of RFID electronic locks in 2017 and forecast up to 2026?
- Which is largest regional market for RFID electronic locks?
- What are the key market trends observed in the RFID electronic locks market?
- Outlook of smart security industry?
- Which is the most promising access device type and end-user in RFID electronic locks market?
- Who are the key players leading the market?
- What are the key strategies adopted by the leading players in market?
- What are the key RFID technology trends across different geographies and sub-geographies?
1. Preface
1.1. Report Scope and Description
1.1.1. Study Purpose
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Approach Adopted
1.3.4. Top-Down Approach
1.3.5. Bottom-Up Approach
1.3.6. Phase III – Expert Panel Review
1.3.7. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Global RFID Electronic Locks Market Snapshot, 2017 & 2026
2.2. Global RFID Electronic Locks Market, by Access Device, 2017 (US$ Bn)
2.3. Global RFID Electronic Locks Market, by End-user, 2017 (US$ Bn)
2.4. Global RFID Electronic Locks Market, by Geography, 2017 (US$ Bn)
3. Market Dynamics
3.1. Overview
3.1.1. Global RFID Electronic Locks Market Value, 2016 – 2026 (US$ Bn)
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraint
3.4. Attractive Investment Proposition, by Geography, 2017
3.5. Market Positioning of Key RFID Electronic Locks Manufacturers, 2017
3.5.1. Major Strategies Adopted by Leading Companies
4. Global RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
4.1. Overview
4.2. Cards
4.3. Mobile Phones
4.4. Wearable
4.5. Key Fobs
5. Global RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
5.1. Overview
5.2. Government & Defense
5.3. Corporates
5.4. Banking & Finance
5.5. Healthcare
5.6. Residential
5.7. Retail
5.8. Hospitality
5.9. Automotive
5.10. Others (Transportation & Logistics, Industrial etc.)
6. North America RFID Electronic Locks Market Analysis, 2016 – 2026 (US$ Bn)
6.1. Overview
6.2. North America RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
6.3. North America RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
6.4. North America RFID Electronic Locks Market, by Country/Region, 2016 – 2026 (US$ Bn)
6.4.1. U.S.
6.4.1.1. U.S. RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
6.4.1.2. U.S. RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
6.4.2. Rest of North America
6.4.2.1. Rest of North America RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
6.4.2.2. Rest of North America RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
7. Europe RFID Electronic Locks Market Analysis, 2016 – 2026 (US$ Bn)
7.1. Overview
7.2. Europe RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
7.3. Europe RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
7.4. Europe RFID Electronic Locks Market, by Country/Region, 2016 – 2026 (US$ Bn)
7.4.1. U.K.
7.4.1.1. U.K. RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
7.4.1.2. U.K. RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
7.4.2. Germany
7.4.2.1. Germany RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
7.4.2.2. Germany RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
7.4.3. France
7.4.3.1. France RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
7.4.3.2. France RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
7.4.4. Rest of Europe
7.4.4.1. Rest of Europe RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
7.4.4.2. Rest of Europe RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
8. Asia Pacific RFID Electronic Locks Market Analysis, 2016 – 2026 (US$ Bn)
8.1. Overview
8.2. Asia Pacific RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
8.3. Asia Pacific RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
8.4. Asia Pacific RFID Electronic Locks Market, by Country/Region, 2016 – 2026 (US$ Bn)
8.4.1. Japan
8.4.1.1. Japan RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
8.4.1.2. Japan RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
8.4.2. China
8.4.2.1. China RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
8.4.2.2. China RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
8.4.3. India
8.4.3.1. India RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
8.4.3.2. India RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
8.4.4. Rest of Asia Pacific
8.4.4.1. Rest of Asia Pacific RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
8.4.4.2. Rest of Asia Pacific RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
9. Rest of the World RFID Electronic Locks Market Analysis, 2016 – 2026 (US$ Bn)
9.1. Overview
9.2. RoW RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
9.3. RoW RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
9.4. RoW RFID Electronic Locks Market, by Country/Region, 2016 – 2026 (US$ Bn)
9.4.1. Latin America
9.4.1.1. Latin America RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
9.4.1.2. Latin America RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
9.4.2. Middle East & Africa
9.4.2.1. Middle East & Africa RFID Electronic Locks Market, by Access Device, 2016 – 2026 (US$ Bn)
9.4.2.2. Middle East & Africa RFID Electronic Locks Market, by End-user, 2016 – 2026 (US$ Bn)
10. Company Profiles
10.1. Assa Abloy Group
10.2. TYCO International PLC
10.3. Siemens AG
10.4. Honeywell International Inc.
10.5. Godrej & Boyce (G n B)
10.6. NestWell Technologies
10.7. United Technologies Corporation
10.8. Vivint, Inc.
10.9. Samsung Electronics Co Ltd.
10.10. Dormakaba Holdings AG
10.11. Spectrum Brands Holdings, Inc.
10.12. Allegion plc
10.13. Hettich Holding GmbH & Co.
10.14. Onity, Inc.
10.15. SALTO Systems S.L.
TABLE 1 Market Snapshot: Global RFID Electronic Locks Market Value
TABLE 2 Global RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 3 Global RFID Electronic Locks Market: by End-user, 2016-2026 (US$ Bn)
TABLE 4 Global RFID Electronic Locks Market , by Geography, 2016-2026 (US$ Bn)
TABLE 5 North America RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 6 North America RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 7 North America RFID Electronic Locks Market, by Country/, 2016-2026 (US$ Bn)
TABLE 8 U.S. RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 9 U.S. RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 10 Rest of North America RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 11 Rest of North America RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 12 Europe RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 13 Europe RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 14 Europe RFID Electronic Locks Market, by Country/, 2016-2026 (US$ Bn)
TABLE 15 U.K. RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 16 U.K. RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 17 Germany RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 18 Germany RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 19 France RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 20 France RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 21 Rest of Europe RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 22 Rest of Europe RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 23 Asia Pacific RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 24 Asia Pacific RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 25 Asia Pacific RFID Electronic Locks Market, by Country/, 2016-2026 (US$ Bn)
TABLE 26 Japan RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 27 Japan RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 28 China RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 29 China RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 30 India RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 31 India RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 32 Rest of Asia Pacific RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 33 Rest of Asia Pacific RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 34 RoW RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 35 RoW RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 36 RoW RFID Electronic Locks Market, by Country/, 2016-2026 (US$ Bn)
TABLE 37 Latin America RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 38 Latin America RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 39 Middle East & Africa RFID Electronic Locks Market, by Access Device, 2016-2026 (US$ Bn)
TABLE 40 Middle East & Africa RFID Electronic Locks Market, by End-user, 2016-2026 (US$ Bn)
TABLE 41 Assa Abloy Group: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 42 TYCO International PLC: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 43 Siemens AG: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 44 Honeywell International Inc. : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 45 Godrej & Boyce (G n B) : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 46 NestWell Technologies: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 47 United Technologies Corporation : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 48 Vivint, Inc. : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 49 Samsung Electronics Co Ltd. : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 50 dormakaba Holdings AG : Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 51 Spectrum Brands Holdings, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 52 Allegion plc: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 53 Hettich Holding GmbH & Co.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 54 Onity, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 55 SALTO Systems S.L.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
FIG. 1 Market Segmentation: Global RFID Electronic Locks Market
FIG. 2 Research Methodology: Global RFID Electronic Locks Market
FIG. 3 Global RFID Electronic Locks Market, by Access Device, 2017 (US$ Bn)
FIG. 4 Global RFID Electronic Locks Market , by Geography, 2017 (US$ Bn)
FIG. 5 Attractive Investment Proposition, by Geography, 2017
FIG. 6 Global Market Positioning of Key RFID Electronic Locks Manufacturers, 2017
FIG. 7 Global RFID Electronic Locks Market Value Share, by Access Device type, 2017 & 2026 (Value, %)
FIG. 8 Global RFID Electronic Locks Market for Cards, 2016-2026 (US$ Bn)
FIG. 9 Global RFID Electronic Locks Market for Mobile Phones, 2016-2026 (US$ Bn)
FIG. 10 Global RFID Electronic Locks Market for Wearable, 2016-2026 (US$ Bn)
FIG. 11 Global RFID Electronic Locks Market for Key Fobs, 2016-2026 (US$ Bn)
FIG. 12 Global RFID Electronic Locks Market Value Share, by End-user, 2017 & 2026 (Value, %)
FIG. 13 Global RFID Electronic Locks Market for Government & Defense, 2016-2026 (US$ Bn)
FIG. 14 Global RFID Electronic Locks Market for Industrial, 2016-2026 (US$ Bn)
FIG. 15 Global RFID Electronic Locks Market for Corporates, 2016-2026 (US$ Bn)
FIG. 16 Global RFID Electronic Locks Market for Banking & Finance, 2016-2026 (US$ Bn)
FIG. 17 Global RFID Electronic Locks Market for Healthcare, 2016-2026 (US$ Bn)
FIG. 18 Global RFID Electronic Locks Market for Residential, 2016-2026 (US$ Bn)
FIG. 19 Global RFID Electronic Locks Market for Retail, 2016-2026 (US$ Bn)
FIG. 20 Global RFID Electronic Locks Market for Hospitality, 2016-2026 (US$ Bn)
FIG. 21 Global RFID Electronic Locks Market for Automotive, 2016-2026 (US$ Bn)
FIG. 22 Global RFID Electronic Locks Market for Others, 2016-2026 (US$ Bn)
FIG. 23 North America RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 24 U.S. RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 25 Rest of North America RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 26 Europe RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 27 U.K. RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 28 Germany RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 29 France RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 30 Rest of Europe RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 31 Asia Pacific RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 32 China RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 33 Japan RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 34 India RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 35 Rest of Asia Pacific RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 36 Rest of the World RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 37 Middle East & Africa (MEA) RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
FIG. 38 Latin America RFID Electronic Locks Market Value, 2016-2026 (US$ Bn)
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