Asia Pacific RFID Locks Market

Market Introduction

The Asia Pacific RFID locks market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The Asia Pacifica region constitutes developed economies such as Australia, China, India, Japan and South Korea as a developing nation. High industrial presence, and huge population. High growth rate of urbanization and industrialization, on the back of high investments in industrial and commercial developments, in developing countries is anticipated to offer ample growth opportunities to the companies operating in the RFID locks market. Both commercial & residential sectors are witnessing construction of new buildings and thus influencing adoption of new high-end access products. Increase in new buildings is creating demand for the solutions ensuring security at buildings and land sites while maintaining convenience and optimum efficiency. India, China, Australia, Japan, and South Korea are the most significant contributors to market growth in this APAC due to the presence of regional vendors offering RFID locking products. Bai Fu Co., Ltd., Be-Tech Asia Limited, Godrej & Boyce Manufacturing Company Limited., Digilock, and Samsung are among the players catering to in the demand for RFID locks market in this region.  

Asia Pacific RFID Locks Strategic Insights

Strategic insights for the Asia Pacific RFID Locks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific RFID Locks Report Scope

Asia Pacific RFID Locks Regional Insights

The geographic scope of the Asia Pacific RFID Locks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The RFID locks market in Asia Pacific is expected to grow from US$ 1,005.90 Mn in 2019 to US$ 2,865.10 Mn by 2027; it is estimated to grow at a CAGR of 15.0% from 2020 to 2027. The Asia Pacific consumer electronics market is strongly stimulated due to the significant adoption of smartphones among people of all age groups. The developing countries in APAC, are experiencing a substantial rise in the number of smartphone users owing to the growing availability of low-cost smartphones. Also, Australia is one amongst the advanced economies where smartphone ownership is high owing to rising disposable income. 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. It will make locking activity efficient as it combines RF user card with smartphone access key. Therefore, the growing penetration of smartphones is anticipated to boost the use of RFID locks among hospitality and other end users in coming years.  

Key Market Segments

In terms of access devices, the key cards segment accounted for the largest share of the Asia Pacific RFID locks market in 2019. In terms of end-user, the hospitality segment held a larger market share of the Asia Pacific RFID locks market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Asia Pacific RFID locks market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are include Assa Abloy AB, Bai Fu Co., Ltd., Digilock (Security People, Inc.), Dormakaba Holding AG, Godrej & Boyce Manufacturing Company Limited, Onity Inc. and Samsung Group.

Reasons to buy report

• To understand the Asia Pacific RFID locks market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific RFID locks market
• Efficiently plan M&A and partnership deals in Asia Pacific RFID locks market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific RFID locks market
• Obtain market revenue forecast for market by various segments from 2020-2027 in Asia Pacific region.

ASIA PACIFIC RFID LOCKS MARKET SEGMENTATION

By Access Devices

• Key Cards
• Mobile Phones
• Key Fobs

By

End-User

• Hospitality
• Residential
• Manufacturing
• Retail
• Automotive
• Aerospace & Defense
• Government & Public Utility
• Others

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Company Profiles

• Assa Abloy AB
• Bai Fu Co., Ltd.
• Digilock (Security People, Inc.)
• Dormakaba Holding AG
• Godrej & Boyce Manufacturing Company Limited
• Onity Inc.
• Samsung Group