The global RFID Locks market size was valued at $2.75 Billion in 2020 and is expected to reach $11.47 Billion by 2028 growing at the CAGR of 18.91% from 2021 to 2028. This growth is attributed to several macro and micro economic factors such as
- The need for enhanced security solutions
- Rising adoption owing to efficiency, flexibility, weatherproof, speed and convenience
Further several factors restraining the market growth include
- Unauthorized devices may be able to read and even change data
Collaborations and Alliances in the RFID Locks market is expected to generate higher avenues during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the RFID Locks market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers to adopt various strategies to stabilize the company.
In terms of COVID 19 impact, the RFID Locks market report also includes following data points:
- Impact on RFID Locks market size
- End-User Trend, Preferences and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in RFID Locks market
Key Insight in the report:
The global RFID Locks market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.
Our report covers extensive competitive intelligence which include following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. RFID Locks market is analyzed across below-mentioned different segments:
- Access Device
- Mobile Phones
- Key Fobs
- Aerospace & Defense
RFID Locks market is also analyzed across below-mentioned regions/countries:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
Some of the key players in of RFID Locks market include:
- OJMAR, S.A.
- MIWA Lock Co.
- Hettich Holding GmbH & Co. oHG
- Honeywell International Inc.
- ASSA ABLOY Global Solutions
- Allegion plc,
- Spectrum Brands, Inc
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- RFID Locks market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding industry dynamic of RFID Locks market