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Global RFID Lock Market 2016-2020

Global RFID Lock Market 2016-2020

About RFID Locks

RFID technologies are gaining attention from multiple sectors, especially hospitality, where property owners are harnessing the technology in providing enhanced customer experience. The hospitality industry relies on consumer comfort to build brand loyalty. As a result, property owners are increasingly investing in enhancing the aesthetics of their property. Door locks are the first thing in the hotel rooms a consumer interacts with. Also, the traditional form of locks with the key is outdated. The advent of electronic locks with technologies like biometric, radio-frequency integrated circuit (RFIC), and keypad provide hassle-free access to consumers and also enhance security and safety. The concept of RFID-based electronic locks are very similar to traditional locks and it uses a card or key fob to open a door. The technology finds application in various luxury apartments, government offices, residential properties, and in the industrial domain.

Technavio’s analysts forecast the global RFID lock market to grow at a CAGR of 16.71% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global RFID lock market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of RFID locks.

The market is divided into the following segments based on geography:

  • North America
  • APAC
  • Europe
  • ROW
Technavio's report, Global RFID Locks Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ASSA ABLOY Hospitality
  • Dormakaba
  • MIWA Lock
  • Samsung
Other prominent vendors
  • Allegion
  • Godrej Locking Solutions and Systems
  • Hettich Hettlock
  • LockState
  • Onity (by United Technologies)
  • SALTO Systems
Market driver
  • Increasing demand for access control systems with near field communication (NFC) technology
  • For a full, detailed list, view our report
Market challenge
  • Threat of substitutes such as biometric and smart card
  • For a full, detailed list, view our report
Market trend
  • Growing demand for RFID-based furniture locks
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global RFID Lock Market 2016-2020

Technavio recognizes the following companies as the key players in the global RFID lock market: ASSA ABLOY Hospitality, dormakaba, MIWA Lock, and Samsung

Other Prominent Vendors in the market are: Allegion, Godrej Locking Solutions and Systems, Hettich Hettlock, LockState, Onity, and SALTO Systems

Commenting on the report, an analyst from Technavio’s team said: “RFID-based furniture locks have replaced traditional key-based furniture locks. Furniture electronic locks can be operated in two ways, contactless opening with an RFID card (MIFARE) and wireless opening wherein the user introduces the card to the lock. These locks are ideal for growing organizations. Access control can be reorganized at any time by re-programming the electronic access components.”

According to the report, countries in APAC are currently witnessing a large-scale migration of the population from rural to urban areas. The urban population in China in 2015 accounted for 56% of the total population. This is expected to further increase during the forecast period; China's urban population will comprise 60% of the total population of the country by 2020. Similarly, India's urban population is growing at an average rate of 2.5% per annum, whereas Vietnam recorded an average urban population growth rate of 3.1% per annum. With an increase in urban population, problems such as traffic congestion, shortage of housing, and increasing passenger traffic are creeping into urban cities of APAC. To cater to the needs of such a large urban population, APAC countries are extensively focusing on urban development. The government of India has planned an investment of $650 billion during the next 20 years for development of the urban infrastructure in the country, whereas the Chinese government plans to invest over $1 trillion in urban infrastructure projects by 2030

Further, the report states that the upgrade cost or fresh installation of RFID locks increases the overall cost of existing business models. The commoditization of RFID technology has brought down the prices of RFID locks, but end-users are still reluctant to adopt these technologically advanced RFID locks. Manufacturers of RFID locks are differentiating their products on the basis of integration of RFID lock with technologies like NFC compatible, ZigBee, and Wi-Fi. The RFID locks integrated with such technologies increase the overall replacement price of locks. Hence, end-users are reluctant to deploy advanced RFID locks due to high costs.



Companies Mentioned

ASSA ABLOY Hospitality, dormakaba, MIWA Lock, Samsung, Allegion, Godrej Locking Solutions and Systems, Hettich Hettlock, LockState, Onity, SALTO Systems

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Global RFID lock market size derivation 2015
    • Vendor segmentation
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • RFID technology landscape
    • Components of an RFID system
      • Table Functional classification of RFID tags
      • Table Operating frequencies of a passive RFID tag
      • Table Comparison between active and passive RFID tags
      • Table Factors impacting selection of a passive RFID tag
      • Table RFID operating frequency ranges
      • Table Difference between HF RFID and NFC
      • Table Uses of NFC and RFID
      • Table Types of barcodes
      • Table Difference between RFID and Barcode
    • RFID systems supply chain
      • Table RFID systems: Supply chain
    • RFID value chain
      • Table RFID system: Value chain
    • Regulations and policies
      • Table Standards for RFID technology implementation
    • Regulatory agencies and compliance requirements
      • Table Major regulatory bodies for setting RFID standards
  • Market landscape
    • Market overview
      • Table Benefits of using RFID-based electronic locks
    • Global electronic lock market
      • Table Global electronic lock market 2015-2020 ($ billions)
      • Table Global electromechanical lock market 2015-2020 ($ millions)
    • Global RFID lock market
      • Table Global RFID lock market 2015-2020 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Geographical segmentation
    • Global RFID lock market by geography
      • Table Global RFID lock market segmentation by geography 2015
      • Table Global RFID lock market by geographical segmentation 2015-2020
    • RFID lock market North America
      • Table RFID lock market in North America 2015-2020 ($ millions)
      • Table Change in property crime in US from 2014 to 2015 by population group
      • Table Change in property crime from 2014 to 2015 by region in US
      • Table Change in property crime in US 2011-2015
    • RFID lock market in Europe
      • Table RFID lock market in Europe 2015-2020 ($ millions)
    • RFID lock market in APAC
      • Table RFID lock market in APAC 2015-2020 ($ millions)
    • RFID lock market in ROW
      • Table RFID lock market in ROW 2015-2020 ($ millions)
  • Market drivers
    • Growing construction industry in APAC
      • Table Construction market in APAC 2015-2020 ($ billions)
    • Increasing demand for access control systems with NFC technology
    • Growing hospitality industry
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Slow adoption rate of technologically advanced RFID locks
    • Threat of substitutes such as biometric and smart card
      • Table Global biometric authentication market 2015-2020 ($ billions)
    • High installation cost
      • Table Cost of materials for a simple license plate tag
      • Table Cost analysis of a RFID system
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Integration of RFID locks with mobile access solution
    • Emergence of smart locks with technology like BLE, NFC, and RFID
    • Growing demand for RFID-based furniture locks
  • Vendor landscape
    • Competitive benchmarking
    • Other prominent vendors
  • Key vendor analysis
    • ASSA ABLOY Hospitality
    • dormakaba
    • MIWA Lock
      • Table ALV2 available card variations
    • Samsung
  • Appendix
    • List of abbreviations
  • Explore Technavio

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