Europe RFID Locks Market Key Players and Opportunities by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027Europe RFID Locks Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Access Device (Key Cards, Mobile Phones, and Key Fobs), End-User (Hospitality, Residential, Manufacturing, Retail, Automotive, Aerospace & Defense, Government & Public Utility, and Others)
- Report Date : Apr 2021
- Report Code : TIPRE00020999
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 122
The Europe RFID locks market 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.
France, Germany, Russia, Italy, and UK are major economies in Europe. Countries in Western Europe are technologically advanced and urbanized. On the other hand, Eastern European countries are gradually undergoing urbanization. The urbanized Western European countries are experiencing surge in commercial infrastructure such as hotels and retail outlets with high inflow of customers. With the projected rise in construction activities in Nordic countries as well as Spain, Portugal, Belgium, and Ireland, the scope of installation of RFID locks is expected to increase in the coming years. In contrast, France and the UK are witnessing weaker demand for security access solutions owing to challenging market conditions. In addition, the demand for these locks is likely to hamper in countries such as Scandinavia due to slower growth of the market for new construction projects in Sweden.
With the new varieties and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe RFID locks market. The Europe RFID locks market is expected to grow at a good CAGR during the forecast period. The Europe consumer electronics market is strongly stimulated due to the significant adoption of smartphones among people of all age groups. The developing countries in the region are experiencing a substantial rise in the number of smartphone users owing to the growing availability of low-cost smartphones. Also, Spain, Germany, the UK, and France are among 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.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Europe RFID Locks Market Segmentation
Europe RFID Locks Market – By Access Devices
- Key Cards
- Mobile Phones
- Key Fobs
Europe RFID locks Market – By End-User
- Hospitality
- Residential
- Manufacturing
- Retail
- Automotive
- Aerospace & Defense
- Government & Public Utility
- Others
Europe RFID locks Market – By Country
- France
- Germany
- Italy
- UK
- RussiA
- Rest of Europe
Europe RFID Locks Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,168.95 Million |
| Market Size by 2027 | US$ 3,165.39 Million |
| Global CAGR (2020 - 2027) | 13.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Access Device
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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