Europe RFID Locks Market Key Players and Opportunities by 2027
Europe 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.
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Access Device, End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe RFID Locks Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
5. RFID Locks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in Urbanization
5.1.2 Evolution of the Hospitality Industry
5.2 Market Restraints
5.2.1 Prolonged Battery Life
5.3 Market Opportunities
5.3.1 Incrementing Penetration of Smartphones
5.4 Future Trends
5.4.1 Amalgamation of AI with Locking System
5.5 Impact Analysis of Drivers and Restraints
6. RFID Locks – Europe Market Analysis
6.1 Overview
6.2 Europe RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
7. Europe RFID Locks Market Analysis – By Access Devices
7.1 Overview
7.2 RFID Locks Market, By Access Devices (2019 and 2027)
7.3 Key Card
7.3.1 Overview
7.3.2 Key Card: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Mobile Phones
7.4.1 Overview
7.4.2 Mobile Phones: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Key Fobs
7.5.1 Overview
7.5.2 Key Fobs: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
8. Europe RFID Locks Market Analysis – By End-User
8.1 Overview
8.2 RFID Locks Market Breakdown, By End-User, 2019 & 2027
8.3 Hospitality
8.3.1 Overview
8.3.2 Hospitality: RFID Locks Market Revenue and Forecast to 2027 (US$ Million)
8.4 Residential
8.4.1 Overview
8.4.2 Residential: RFID Locks Market Revenue and Forecast to 2027 (US$ Million)
8.5 Manufacturing
8.5.1 Overview
8.5.2 Manufacturing: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
8.6 Retail
8.6.1 Overview
8.6.2 Retail: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
8.7 Automotive
8.7.1 Overview
8.7.2 Automotive: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
8.8 Aerospace & Defense
8.8.1 Overview
8.8.2 Aerospace & Defense: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
8.9 Government & Public Utilities
8.9.1 Overview
8.9.2 Government & Public Utilities: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
8.10 Others
8.10.1 Overview
8.10.2 Others: RFID Locks Market Revenue and Forecast to 2027 (US$ Mn)
9. Europe RFID Locks Market – Geographic Analysis
9.1 Overview
9.1.1 Europe: RFID Locks Market, By Country
9.1.1.1 Germany: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Germany: RFID Locks Market, By Access Devices
9.1.1.1.2 Germany: RFID Locks Market, by End-User
9.1.1.2 France: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 France: RFID Locks Market, By Access Devices
9.1.1.2.2 France: RFID Locks Market, by End-User
9.1.1.3 Italy: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Italy: RFID Locks Market, By Access Devices
9.1.1.3.2 Italy: RFID Locks Market, by End-User
9.1.1.4 UK: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 UK: RFID Locks Market, By Access Devices
9.1.1.4.2 UK: RFID Locks Market, by End-User
9.1.1.5 Russia: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Russia: RFID Locks Market, By Access Devices
9.1.1.5.2 Russia: RFID Locks Market, by End-User
9.1.1.6 Rest of Europe: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of Europe: RFID Locks Market, By Access Devices
9.1.1.6.2 Rest of Europe: RFID Locks Market, by End-User
10. Impact of COVID-19 Outbreak on Europe RFID Locks Market
10.1.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. COMPANY PROFILES
12.1 Assa Abloy AB
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Digilock (Security People, Inc.)
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 dormakaba Holding AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Euro-Locks SA NV (Lowe & Fletcher Group)
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Onity Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Qilocks Equipment Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Samsung Group
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Senseon (Accuride International Inc.)
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe RFID Locks Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. Germany RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany RFID Locks Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 4. France RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 5. France RFID Locks Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 6. Italy RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 7. Italy RFID Locks Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 8. UK RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 9. UK RFID Locks Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 10. Russia RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 11. Russia RFID Locks Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of Europe RFID Locks Market, By Access Devices – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of Europe Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. RFID Locks Market Segmentation
Figure 2. Europe RFID Locks Market Segmentation – By Country
Figure 3. Europe RFID Locks Market Overview
Figure 4. Europe RFID Locks Market, by Country
Figure 5. Europe RFID Locks Market, By Access Device
Figure 6. Europe RFID Locks Market, By End-User
Figure 7. Europe – PEST Analysis
Figure 8. RFID Locks Market – Ecosystem Analysis
Figure 9. RFID Locks Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. RFID Locks Market Revenue Share, by Access Devices (2019 and 2027)
Figure 12. Key Card: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Mobile Phones: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Key Fobs: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. RFID Locks Market Revenue Share, By End-User (2019 and 2027)
Figure 16. Hospitality: RFID Locks Market Revenue and Forecast to 2027(US$ Million)
Figure 17. Residential: RFID Locks Market Revenue and Forecast to 2027(US$ Million)
Figure 18. Manufacturing: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 19. Retail: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 20. Automotive: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 21. Aerospace & Defense: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 22. Government & Public Utilities: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 23. Others: RFID Locks Market Revenue and Forecast to 2027(US$ Mn)
Figure 24. Europe: RFID Locks Market, by Key Country – Revenue (2019) (USD Million)
Figure 25. Europe: RFID Locks Market Revenue Share, By Country (2019 and 2027)
Figure 26. Germany: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. France: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Italy: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. UK: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Russia: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Rest of Europe: RFID Locks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in Europe Country Markets
- Assa Abloy AB
- Digilock (Security People, Inc.)
- Dormakaba Holding AG.
- Euro-Locks SA NV (Lowe & Fletcher Group)
- Onity Inc.
- Qilocks Equipment Ltd.
- Samsung Group
- Senseon (Accuride International Inc.)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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