Global RFID Locks Market Expected to Reach US $16,450.6 Mn in 2026
Albany, NY -- (SBWire) -- 08/10/2018 --This comprehensive report by Transparency Market Research analyzes and forecasts the RFID locks market at the global and regional level. The report provides analysis of the global RFID locks market for the period from 2016 to 2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. Data for 2016 is provided as historical information. The report covers all the major trends playing a major role in the growth of the RFID locks market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market's growth during this period. The study provides a complete perspective on the RFID locks market growth in terms of revenue in US$ Mn and volume in thousand units, across different geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report would help suppliers and distributors to understand the current and future trends in the market and formulate their strategies accordingly.
The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. The report also provides the value chain analysis for the RFID locks market. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth.
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The RFID locks market is segmented by access device, application, and region. By access device, the market is segmented into key cards, mobile phones, wearables, and key fobs. Based on application, the market is segmented into hospitality, automotive, aerospace & defense, residential, manufacturing, BFSI, retail, transportation & logistics, others (government & public utilities, healthcare, etc. Revenue data is estimated for all the above mentioned segments.
The report also includes competitive profiling of the key players associated with the market around the globe. The important business strategies adopted by leading players, their market positioning, financials, SWOT analysis, and recent developments have also been identified in the research report. The competitive landscape section of the report gives an overview about the major contributing regions/countries by key players.
The RFID locks market data estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research. Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the RFID locks market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc.
These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel. We reviewed key players' product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding purposes. Secondary research includes a study of recent trade journals, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants' insights, and recognizing business opportunities.
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Major strategies adopted by RFID locks providers include strategic acquisitions and partnerships. Major players such as Assa Abloy, KABA group, Samsung Electronics Co., Spectrum Brands, Inc., UTC (Onity, Inc.), and Salto Systems are working toward integration and creation of user-friendly and effective analytics solutions. During the forecast period, it is estimated that the established players in the market would either get merged into large enterprises or would give tough competition to the emerging players in the market. It is estimated that large RFID locks vendors would acquire regional players to improve their distribution networks in domestic as well as international markets. Details such as financials, business strategies, SWOT analysis, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
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