South America RFID Locks Market

Market Introduction

The South America 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 South America region constitutes developed economies such as Brazil, Argentina, Chile, Colombia, and Peru 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. Brazil’s hospitality industry is a combination of both international and domestic brands. And growth of international hotel brands is high in comparison to domestic brands. Additionally, in 2019 end, the country had approximately 150 hotels which were in the phase of construction. Growing hospitality sector and presence of both domestic & international brands in Brazil will influence the growth of adoption of access solutions including RFID locks. Argentina is another important country that is driving the adoption of RFID locks. With the rise in urbanization in the country, a fair percentage of the population of Argentina is shifting toward urban localities and as need for security is becoming crucial in buildings including residential infrastructure due to urbanization, the demand for RFID locks is expected to increase. This is likely to drive the RFID locks market in South America during the forecast period.

South America RFID Locks Strategic Insights

Strategic insights for the South America 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.

South America RFID Locks Report Scope

South America RFID Locks Regional Insights

The geographic scope of the South America 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 South America is expected to grow from US$ 265.60 Mn in 2019 to US$ 455.96 Mn by 2027; it is estimated to grow at a CAGR of 7.5 % from 2020 to 2027. Urbanization is showcasing an upward trend due to growing population and rising rural to urban migration across the world. The growth rate of urban population is higher in less-developed countries than more-developed countries. The migration of people demands new workplaces, housing, and stores, which drives the requirement for security and access solutions in buildings to prevent unauthorized entry. With that said, smart locking systems are being increasingly installed in apartments, houses, warehouses, office buildings, hotels, and many other places. Further, the development of touchpad digital locks, fingerprint locks, RFID cards, and other smart locks offers added convenience to users, as there is no need to memorize the password or carry a key. The growth in access security solutions is evident in residential and commercial sectors where the potential of adopting connectivity is increasing, which is driving the demand for smart home security products, such as connected locks.

Key Market Segments

Based on access devices, the key cards segment accounted for the largest share of the South America RFID locks market in 2019. Based on end-user, the hospitality segment held a larger market share of the South America 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 South America 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. and Samsung Group.

Reasons to buy report

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

SOUTH AMERICA 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

• Brazil
• Argentina
• Rest of South America

Company Profiles

• Assa Abloy AB
• Digilock
• Dormakaba Group
• Euro-Locks SA NV
• Onity Inc.
• Samsung Group