The global consumer electronics market is strongly stimulated due to the significant adoption of smartphones among people of all age groups. The developing countries in APAC, MEA, and South America are experiencing a substantial rise in the number of smartphone users owing to the growing availability of low-cost smartphones. Many locks are available with mobile access features. For instance, ViAge Technology—a provider of magnetic stripe & smart card applications—offers Esmart Mobile access locks. The lock combines PIN & RFID with BLE mobile access technology. Therefore, the growing penetration of smartphones is anticipated to boost the use of RFID locks among hospitality and other end users in coming years.
The global RFID locks market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. Europe holds the dominant share in the RFID locks market, whereas APAC is expected to be the fastest-growing region in the global market. In APAC, owing to the factors such as growing urbanization, rising disposable income of citizens, and changing demographic trends, the region is expected to witness huge growth of RFID locks. With growing construction and increasing penetration of smartphone ownership in the region owing to continuous emergence of low-cost smartphones is enabling individuals to procure these smartphones enabled access solutions
Assa Abloy AB, Dormakaba Group, Godrej & Boyce Manufacturing Company Limited, Onity Inc., and Senseon – Prominent Market Participants in RFID Locks Market
The top five companies in the RFID locks market include Assa Abloy AB, Dormakaba Group, Godrej & Boyce Manufacturing Company Limited, Onity Inc., and Senseon. The above listing of key players is derived by considering multiple factors such as overall revenue, current RFID locks product portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global RFID locks market ecosystem, such as Bai Fu Co., Ltd., Digilock, Euro-Locks SA NV, and Samsung.
Most of the market initiatives were observed in North American and Asian market, which have a high potential for RFID locks market growth. Few of the important market initiatives and product developments from the industry are mentioned below:
|
Year |
News |
Region |
|
2020 |
Godrej & Boyce Manufacturing Company Limited had announced a golden festival offer, an engaging initiative that gives consumers a chance to get gold vouchers worth up to INR 50,000. These winners were chosen through a lucky draw on a weekly basis. |
APAC |
|
2019 |
dormakaba Holding AG had launched RT plus BLE-enabled RFID locks and is ideal for magstripe or mechanical lock retrofit. The RT Plus lock is a cost-effective solution for small hotels and large properties, including guest rooms, common areas, meeting spaces, and back of house access control. |
North America |
|
2019 |
Senseon’s latest launched of their 2nd generation of electronic locking, cabinet-level access hardware, Senseon Plus got featured in security systems news. |
North America |
