RFID Locks

RFID Locks

Global RFID Locks Market to Reach $8.3 Billion by 2027

In the changed post COVID-19 business landscape, the global market for RFID Locks estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$8.3 Billion by 2027, growing at a CAGR of 12.2% over the analysis period 2020-2027. Key Cards, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$6.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Wearables segment is readjusted to a revised 12.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 11.4% CAGR

The RFID Locks market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.1% and 10.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.

Mobile Phones Segment to Record 11.7% CAGR

In the global Mobile Phones segment, USA, Canada, Japan, China and Europe will drive the 11.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$285.4 Million in the year 2020 will reach a projected size of US$616.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 14 Featured) -

• Dolphin RFID Pvt., Ltd.
• Fortune Marketing Pvt Ltd.
• Godrej & Boyce Manufacturing Company Limited - Locking Solutions & Systems Division
• Godrej Industries Ltd.
• Nestwell Technologies
• Onity, Inc.
• RemoteLock
• Siemens AG

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.