Europe RFID Locks Market

Market Introduction

The Europe 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 European region constitutes developed economies such as France, Germany, Russia, the UK, and Italy as a developing nation. The inclination towards procurement of electromechanical products over traditional locking systems has increased drastically; and is expected to continue and give various growth opportunities to the user of smart locking system. Ergonomic design, well-suited design, ADA compliant, universal, and adaptability are some of the features provided by the RFID locks which makes their adoption more among industries especially hotels. In Germany has a population of more than 80 million which creates significant opportunity to cater demand of RFID locks. Out of total population, Germany’s smartphone penetration accounts for more than 78% in 2019. The considerable growth in the construction of new hotels in France is driving the hospitality sector of France that would play a significant in the growth of RFID locks. Growing ownership of smartphones is anticipated to fuel the development and use of mobile accessed RFID locks. Additionally, the British capital is consistently making itself in the top lists of the most five-star hotels in Europe. Large penetration of smartphone among the citizens will create lucrative opportunities for the providers of RFID locks integrated with mobile access technology. In addition, Russian hospitality sector enjoys significant footfall of travels from across Europe.

Europe RFID Locks Strategic Insights

Strategic insights for the Europe 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.

Europe RFID Locks Report Scope

Europe RFID Locks Regional Insights

The geographic scope of the Europe 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 Europe is expected to grow from US$ 1,168.95 Mn in 2019 to US$ 3,165.39 Mn by 2027; it is estimated to grow at a CAGR of 13.8% from 2020 to 2027. The rising number of hotels are propelling the need for advanced access technology—such as mobile access service. Furthermore, elevation in hotel room security by using Bluetooth Low Energy upgrade module or smart locks is becoming a crucial element in hospitality as it helps hotels provide property with streamlined check-in benefit. The rising demand from hotel owners is encouraging the access control systems manufacturers and tech giants to work together to develop smart door locks for hotels and other buildings included under hospitality industry. Various hoteliers are preferring contactless RFID cards over old magnetic keycards to offer enhanced guest experience. The use of RFID cards and locks is less cumbersome and enables faster room entry. RFID locks work with different access credentials such as wristbands, mobile devices, and key fobs, thereby promoting its use among hoteliers. In addition, updates in digital key prevent the use of expensive plastic keycards. The minimum use of single-use plastic cards in the long term helps hotels cut down their operating costs and carbon footprint. Therefore, improved guest satisfaction and lesser operating costs and carbon footprints are among the benefits offered by RFID locks, which, in turn, drive the demand for RFID locks in the hospitality sector across Europe.

Key Market Segments

Based on access devices, the key cards segment accounted for the largest share of the Europe RFID locks market in 2019. Based on, the hospitality segment held a larger market share of the Europe 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 Europe 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, Digilock, Dormakaba Group, Euro-Locks SA NV, Onity Inc., Qilocks Equipment Ltd., Samsung Group, and Senseon (Accuride International Inc.)

Reasons to buy report

• To understand the Europe 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 Europe RFID locks market
• Efficiently plan M&A and partnership deals in Europe 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 Europe RFID locks market
• Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.

EUROPE 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

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe

Company Profiles

• Assa Abloy AB
• Digilock
• Dormakaba Group
• Euro-Locks SA NV
• Onity Inc.
• Qilocks Equipment Ltd.
• Samsung Group
• Sensen (Accuride International Inc.)