RFID locks are specifically designed for locking and unlocking operations which contains encoded data on the RFID chip. They are significantly used in hospitality industry and relied upon holes that were pierced into the cards. RFID is referred as radio frequency identification technology which is automatic technology that is used to transfer of radio signals and also for detection of various objects like assets, goods, and vehicles.
Rise in property crime, home invasions, and burglaries in past few years which is the key driving factor expected to boost the global RFID locks market growth. Furthermore, rise in penetration of smart phones and its user friendly experience will have the positive impact on market growth. Moreover, continuous technological advancements will fuel the market growth. Also, rise in smart lock user will support the global RFID locks market growth.
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However, low awareness about RFID locks and low literacy about its usage are the restraining factors which are expected to hinder the global RFID locks market growth. Also, high cost of security solutions will affect the market growth.
Global RFID Locks Market is segmented into access device such as Mobile Phones, Key Cards, and Key fobs. Further, market is segmented into application such as BFSI, Retail, Transportation & Logistics, Manufacturing, Residential, Aerospace & Defense, Automotive, Hospitality, and Others.
Also, Global RFID Locks Market is segmented in five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Key Players
Various key players are discussed in this report such as Honeywell International Inc, dorma+kaba Holdings AG., Samsung Electronics Co Ltd, Siemens AG, Vivint, Inc., United Technologies Corporation, Nestwell Technologies, Assa Abloy Group,and Godrej & Boyce Manufacturing Company Ltd.
By Access Device
- Mobile Phones
- Key Cards
- Key fobs
- Transportation & Logistics
- Aerospace & Defense
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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