Tuesday, November 13, 2018
RFID Electronic Locks Market: Global Market Size, Industry Share, Approaches and Forecast 2018-2026, Credence Research
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According to a new market
research report published by Credence Research “RFID
Electronic Locks Market (Access Device Type – Cards, Mobile
Phones, Wearable and Key Fobs; End-user – Government & Defense, Corporates,
Banking & Finance, Healthcare, Residential, Retail, Hospitality, Automotive
and Others) Market – Growth, Future Prospects and Competitive Analysis, 2018 -
2026”, the global RFID electronic locks market was valued at US$ 3.25 BN in
2017 and is set to demonstrate double digit CAGR across the forecast period
through 2018 to 2026.
Market Insights
Radio Frequency Identification
(RFID) technology has emerged among the most promising technologies in personal
identification and asset tracking. Developers actualized the innovation not
only key in traditional applications such as asset or inventory tracking, but
also in security services as door locking, furniture locking and other access
controlling applications. Growing security concerns, aging infrastructure and
inclination towards diminishing operating costs stimulating the adoption of
RFID electronic locks across different end-users. Another major factor
supporting market growth is consistent decrease in RFID electronic locks prices.
Such locks are offered at charges as low as US$ 20, making them affordable for
numerous applications. Moreover, superior advantages of RFID systems over other
conventional locking systems would ensure robust demand for RFID electronic
locks over the following years.
Browse the full report
at https://www.credenceresearch.com/report/rfid-electronic-locks-market
Overall RFID electronic locks
market segmented based on access device and end-user. By access device, market
directed by the cards segment primarily due to its multiuse functionality.
Contrast to older systems used a card as just standard key, advanced RFID
electronic lock cards can be used as multifunctional tool. Such cards utilized
as ID card, room key and also utilized for managing in-room vitality
utilization and transaction of money. With widespread application area, segment
expected to retain its dominating position throughout the forecast period.
Based on the geography, Asia Pacific dominated the RFID electronic locks market
globally in 2017. The market in the region firmly supported by the swiftly
rising retail sector complemented by the presence of strong industrial,
commercial, hospitality as well as transportation & logistics industry.
Another major factor stimulating
the RFID electronic locks market is consistently rising retail sector globally.
Worldwide number of shopping centers or malls continues to increase with
promising rate. Retail environments are full of valuable assets, both on the
shop floor and in the stock room. RFID electronic locks are all designed to
permit access only to person or goods with the necessary authority to enter a
particular area, ensuring that asset and people are protected. Considering the
vital application of RFID electronic locks in overall safety & security,
rising retail sector would ensure strong market growth across the forecast
period. Moreover, flourishing commercial, industrial as well as government
sector further generate need for effective security measures to evade
information breach, maintain safe environment and avoid property invasions.
Subsequently, RFID electronic locks market expected to register immense growth
rate across the forecast period.
For More Inquiry: https://www.credenceresearch.com/inquiry-before-buying/59411
About Us
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customers some assistance with making enduring enhancements to their execution
and understand their most imperative objectives. Over almost a century, we've
manufactured a firm extraordinarily prepared for this task.
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