The Global RFID Locks Market size is expected to reach $13.6 billion by 2030, rising at a market growth of 15.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 30,934.7 thousand units, experiencing a growth of 14.8% (2019-2022).
RFID locks can integrate with smart home systems, allowing homeowners to create a seamless and interconnected home environment. Integration with home automation, security cameras, and alarm systems enhances overall home security and convenience. Consequently, the residential segment would generate approximately 24.2% share of the market by 2030. Residents can enjoy the convenience of keyless entry with RFID locks. Instead of fumbling for keys, homeowners can use RFID key cards, fobs, or even smartphones for quick and hassle-free home access. This is especially practical when carrying groceries, packages, or other items.
Technological innovation has led to the development of RFID locks with multi-frequency capabilities. These locks can operate across different RFID frequency bands, providing compatibility with various RFID standards. This flexibility allows RFID locks to work seamlessly in diverse environments and with different RFID credentials. Some advanced RFID locks now feature biometric integration, combining RFID technology with biometric authentication methods such as fingerprint scanning or facial recognition. Thus, technological advancements in RFID have significantly expanded the market growth. Moreover, Urban development projects often include the creation of smart buildings and smart infrastructure. RFID locks play a key role in these initiatives, providing secure and efficient access control solutions for residents, employees, and visitors in modern buildings equipped with advanced technologies. Due to the above-mentioned factors, the market is expected to grow.
However, the initial cost of implementing RFID lock systems, including the purchase of hardware and the installation process, can be a significant barrier. The upfront investment is perceived as too high, businesses and organizations may be hesitant to adopt RFID locks, especially in cases where there is alternative, more budget-friendly solutions. Integrating existing systems, such as access control platforms or building management systems, can add to the overall cost. Due to the above factors, market growth will be hampered in the coming years.
By Access Device Analysis
On the basis of access device, the market is segmented into key cards, wearable, mobile phone, and others. The wearable segment acquired a substantial revenue share in the market in 2022. Wearable RFID devices are less likely to be lost or misplaced than traditional keys or cards. Users are likelier to notice if their wearable device is missing, and lost wearables can be easily deactivated and replaced. Wearable RFID locks can be personalized and branded to align with the identity of a business or institution. Custom designs, colors, and logos can be incorporated into the wearables, enhancing the overall user experience and contributing to a sense of belonging or affiliation.
By Application Analysis
Based on application, the market is fragmented into hospitality, transportation & logistics, BFSI, retail, automotive, residential, government, and others. In 2022, the hospitality segment held the highest revenue share in the market. RFID locks allow for contactless check-in processes. Guests receive RFID key cards or wearables upon arrival, enabling them to access their rooms without physical contact with the front desk or traditional key cards. This streamlined process enhances guest satisfaction and aligns with current trends, favoring minimal physical touchpoints. RFID locks offer guests a convenient and hassle-free means of accessing their rooms. A simple tap or swipe of the RFID key card or wearable near the door's RFID reader grants access. This ease of use is particularly appreciated by guests carrying luggage or other items.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region acquired a substantial revenue share in the market in 2022. Educational initiatives and awareness programs about the benefits of RFID technology contribute to its expansion. As businesses and consumers become more informed about the advantages of RFID locks. The increasing affluence in certain Asian Pacific countries has led to a demand for premium and technologically advanced solutions. With their advanced features and modern design, RFID locks are well-received by consumers seeking cutting-edge security solutions.
Recent Strategies Deployed in the Market
- Dec-2023: Honeywell International, Inc. signed an agreement with Carrier Global Corporation, a company known for heating, ventilation, air conditioning, refrigeration, and fire and security equipment. Through this acquisition Honeywell aims to acquire the security division of the carrier global corporation which enhance Honeywell's building automation capabilities by incorporating Carrier Global's advanced access and security solutions, electronic locking systems, and contactless mobile key solutions into its portfolio.
- Oct-2023: Assa Abloy AB completed the acquisition of Securitech Group Inc., a renowned manufacturer specializing in high-security mechanical and electronic door hardware products. Through this acquisition, Assa Abloy aims to enhance its position and capabilities in providing advanced security solutions tailored to the unique needs of these specific markets. This strategic move is geared towards reinforcing Assa Abloy's core product offerings in sectors such as education, critical infrastructure, government, behavioral health, and other high-security markets.
- Aug-2023: Salto Systems, S.L. has unveiled XS4 Mini Metal Model, a state-of-the-art solution designed to upgrade and modernize access control systems. XS4 Mini comes with an easy to install design and includes advanced features ranging from key card, key fob, RFID, Bluetooth LE and NFC compatibility.
- May-2023: Salto Systems, S.L. has launched Neoxx G3 electronic padlock, an advanced and versatile locking system. The SALTO Neoxx G3 is designed to deliver unmatched durability and reliability, ensuring the safety and security of property and valuables. Additionally, this padlock integrates RFID, Bluetooth LE, and NFC technologies, offering a cutting-edge keyless experience to user.
- Jun-2022: Assa Abloy AB has launched VingCard Novel, a cutting-edge smart door lock solution designed to adapt to evolving industry trends and meet long-term expectations. This innovative product comes equipped with RFID compatibility, Mobile Access capabilities, and compatibility with cloud-based access management systems.
List of Key Companies Profiled
- Allegion PLC
- Fortune Marketing Pvt Ltd.
- Honeywell International, Inc.
- Siemens AG
- Assa Abloy AB
- Dormakaba Holding AG
- MIWA Lock Company, Ltd.
- Dolphin RFID Pvt. Ltd.
- Salto Systems, S.L.
- Nestwell Technologies
Global RFID Locks Market Report Segmentation
By Access Device (Volume, Thousand Units, USD Billion, 2019-2030)
- Key Cards
- Mobile Phone
- Wearable & Others
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
- Hospitality
- Transportation & Logistics
- Residential
- Automotive
- BFSI
- Retail
- Government & Others
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global RFID Locks Market, by Access Device
- 1.4.2 Global RFID Locks Market, by Application
- 1.4.3 Global RFID Locks Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.3 Porter's Five Forces Analysis
Chapter 4. Strategies Deployed in RFID Locks Market
Chapter 5. Global RFID Locks Market by Access Device
- 5.1 Global Key Cards Market by Region
- 5.2 Global Mobile Phone Market by Region
- 5.3 Global Wearable & Others Market by Region
Chapter 6. Global RFID Locks Market by Application
- 6.1 Global Hospitality Market by Region
- 6.2 Global Transportation & Logistics Market by Region
- 6.3 Global Residential Market by Region
- 6.4 Global Automotive Market by Region
- 6.5 Global BFSI Market by Region
- 6.6 Global Retail Market by Region
- 6.7 Global Government & Others Market by Region
Chapter 7. Global RFID Locks Market by Region
- 7.1 North America RFID Locks Market
- 7.1.1 North America RFID Locks Market by Access Device
- 7.1.1.1 North America Key Cards Market by Country
- 7.1.1.2 North America Mobile Phone Market by Country
- 7.1.1.3 North America Wearable & Others Market by Country
- 7.1.2 North America RFID Locks Market by Application
- 7.1.2.1 North America Hospitality Market by Country
- 7.1.2.2 North America Transportation & Logistics Market by Country
- 7.1.2.3 North America Residential Market by Country
- 7.1.2.4 North America Automotive Market by Country
- 7.1.2.5 North America BFSI Market by Country
- 7.1.2.6 North America Retail Market by Country
- 7.1.2.7 North America Government & Others Market by Country
- 7.1.3 North America RFID Locks Market by Country
- 7.1.3.1 US RFID Locks Market
- 7.1.3.1.1 US RFID Locks Market by Access Device
- 7.1.3.1.2 US RFID Locks Market by Application
- 7.1.3.2 Canada RFID Locks Market
- 7.1.3.2.1 Canada RFID Locks Market by Access Device
- 7.1.3.2.2 Canada RFID Locks Market by Application
- 7.1.3.3 Mexico RFID Locks Market
- 7.1.3.3.1 Mexico RFID Locks Market by Access Device
- 7.1.3.3.2 Mexico RFID Locks Market by Application
- 7.1.3.4 Rest of North America RFID Locks Market
- 7.1.3.4.1 Rest of North America RFID Locks Market by Access Device
- 7.1.3.4.2 Rest of North America RFID Locks Market by Application
- 7.2 Europe RFID Locks Market
- 7.2.1 Europe RFID Locks Market by Access Device
- 7.2.1.1 Europe Key Cards Market by Country
- 7.2.1.2 Europe Mobile Phone Market by Country
- 7.2.1.3 Europe Wearable & Others Market by Country
- 7.2.2 Europe RFID Locks Market by Application
- 7.2.2.1 Europe Hospitality Market by Country
- 7.2.2.2 Europe Transportation & Logistics Market by Country
- 7.2.2.3 Europe Residential Market by Country
- 7.2.2.4 Europe Automotive Market by Country
- 7.2.2.5 Europe BFSI Market by Country
- 7.2.2.6 Europe Retail Market by Country
- 7.2.2.7 Europe Government & Others Market by Country
- 7.2.3 Europe RFID Locks Market by Country
- 7.2.3.1 Germany RFID Locks Market
- 7.2.3.1.1 Germany RFID Locks Market by Access Device
- 7.2.3.1.2 Germany RFID Locks Market by Application
- 7.2.3.2 UK RFID Locks Market
- 7.2.3.2.1 UK RFID Locks Market by Access Device
- 7.2.3.2.2 UK RFID Locks Market by Application
- 7.2.3.3 France RFID Locks Market
- 7.2.3.3.1 France RFID Locks Market by Access Device
- 7.2.3.3.2 France RFID Locks Market by Application
- 7.2.3.4 Russia RFID Locks Market
- 7.2.3.4.1 Russia RFID Locks Market by Access Device
- 7.2.3.4.2 Russia RFID Locks Market by Application
- 7.2.3.5 Spain RFID Locks Market
- 7.2.3.5.1 Spain RFID Locks Market by Access Device
- 7.2.3.5.2 Spain RFID Locks Market by Application
- 7.2.3.6 Italy RFID Locks Market
- 7.2.3.6.1 Italy RFID Locks Market by Access Device
- 7.2.3.6.2 Italy RFID Locks Market by Application
- 7.2.3.7 Rest of Europe RFID Locks Market
- 7.2.3.7.1 Rest of Europe RFID Locks Market by Access Device
- 7.2.3.7.2 Rest of Europe RFID Locks Market by Application
- 7.3 Asia Pacific RFID Locks Market
- 7.3.1 Asia Pacific RFID Locks Market by Access Device
- 7.3.1.1 Asia Pacific Key Cards Market by Country
- 7.3.1.2 Asia Pacific Mobile Phone Market by Country
- 7.3.1.3 Asia Pacific Wearable & Others Market by Country
- 7.3.2 Asia Pacific RFID Locks Market by Application
- 7.3.2.1 Asia Pacific Hospitality Market by Country
- 7.3.2.2 Asia Pacific Transportation & Logistics Market by Country
- 7.3.2.3 Asia Pacific Residential Market by Country
- 7.3.2.4 Asia Pacific Automotive Market by Country
- 7.3.2.5 Asia Pacific BFSI Market by Country
- 7.3.2.6 Asia Pacific Retail Market by Country
- 7.3.2.7 Asia Pacific Government & Others Market by Country
- 7.3.3 Asia Pacific RFID Locks Market by Country
- 7.3.3.1 China RFID Locks Market
- 7.3.3.1.1 China RFID Locks Market by Access Device
- 7.3.3.1.2 China RFID Locks Market by Application
- 7.3.3.2 Japan RFID Locks Market
- 7.3.3.2.1 Japan RFID Locks Market by Access Device
- 7.3.3.2.2 Japan RFID Locks Market by Application
- 7.3.3.3 India RFID Locks Market
- 7.3.3.3.1 India RFID Locks Market by Access Device
- 7.3.3.3.2 India RFID Locks Market by Application
- 7.3.3.4 South Korea RFID Locks Market
- 7.3.3.4.1 South Korea RFID Locks Market by Access Device
- 7.3.3.4.2 South Korea RFID Locks Market by Application
- 7.3.3.5 Singapore RFID Locks Market
- 7.3.3.5.1 Singapore RFID Locks Market by Access Device
- 7.3.3.5.2 Singapore RFID Locks Market by Application
- 7.3.3.6 Malaysia RFID Locks Market
- 7.3.3.6.1 Malaysia RFID Locks Market by Access Device
- 7.3.3.6.2 Malaysia RFID Locks Market by Application
- 7.3.3.7 Rest of Asia Pacific RFID Locks Market
- 7.3.3.7.1 Rest of Asia Pacific RFID Locks Market by Access Device
- 7.3.3.7.2 Rest of Asia Pacific RFID Locks Market by Application
- 7.4 LAMEA RFID Locks Market
- 7.4.1 LAMEA RFID Locks Market by Access Device
- 7.4.1.1 LAMEA Key Cards Market by Country
- 7.4.1.2 LAMEA Mobile Phone Market by Country
- 7.4.1.3 LAMEA Wearable & Others Market by Country
- 7.4.2 LAMEA RFID Locks Market by Application
- 7.4.2.1 LAMEA Hospitality Market by Country
- 7.4.2.2 LAMEA Transportation & Logistics Market by Country
- 7.4.2.3 LAMEA Residential Market by Country
- 7.4.2.4 LAMEA Automotive Market by Country
- 7.4.2.5 LAMEA BFSI Market by Country
- 7.4.2.6 LAMEA Retail Market by Country
- 7.4.2.7 LAMEA Government & Others Market by Country
- 7.4.3 LAMEA RFID Locks Market by Country
- 7.4.3.1 Brazil RFID Locks Market
- 7.4.3.1.1 Brazil RFID Locks Market by Access Device
- 7.4.3.1.2 Brazil RFID Locks Market by Application
- 7.4.3.2 Argentina RFID Locks Market
- 7.4.3.2.1 Argentina RFID Locks Market by Access Device
- 7.4.3.2.2 Argentina RFID Locks Market by Application
- 7.4.3.3 UAE RFID Locks Market
- 7.4.3.3.1 UAE RFID Locks Market by Access Device
- 7.4.3.3.2 UAE RFID Locks Market by Application
- 7.4.3.4 Saudi Arabia RFID Locks Market
- 7.4.3.4.1 Saudi Arabia RFID Locks Market by Access Device
- 7.4.3.4.2 Saudi Arabia RFID Locks Market by Application
- 7.4.3.5 South Africa RFID Locks Market
- 7.4.3.5.1 South Africa RFID Locks Market by Access Device
- 7.4.3.5.2 South Africa RFID Locks Market by Application
- 7.4.3.6 Nigeria RFID Locks Market
- 7.4.3.6.1 Nigeria RFID Locks Market by Access Device
- 7.4.3.6.2 Nigeria RFID Locks Market by Application
- 7.4.3.7 Rest of LAMEA RFID Locks Market
- 7.4.3.7.1 Rest of LAMEA RFID Locks Market by Access Device
- 7.4.3.7.2 Rest of LAMEA RFID Locks Market by Application
Chapter 8. Company Profiles
- 8.1 Allegion PLC
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 SWOT Analysis
- 8.2 Fortune Marketing Pvt Ltd.
- 8.3 Honeywell International, Inc.
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.6 SWOT Analysis
- 8.4 Siemens AG
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expense
- 8.4.5 SWOT Analysis
- 8.5 Assa Abloy AB
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expense
- 8.5.5 Recent strategies and developments:
- 8.5.5.1 Product Launches and Product Expansions:
- 8.5.5.2 Acquisition and Mergers:
- 8.5.6 SWOT Analysis
- 8.6 Dormakaba Holding AG
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Regional Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 SWOT Analysis
- 8.7 MIWA Lock Company, Ltd.
- 8.8 Dolphin RFID Pvt. Ltd.
- 8.9 Salto Systems, S.L.
- 8.9.1 Company Overview
- 8.9.2 Recent strategies and developments:
- 8.9.2.1 Product Launches and Product Expansions:
- 8.10. Nestwell Technologies
Chapter 9. Winning Imperatives of RFID Locks Market