Exclusive Report on Global RFID Locks Market st COVID Growth Opportunity Analysis, Key Players- OJMAR, S.A., MIWA Lock Co., Lockitron, Hettich Holding GmbH & Co. oHG

According to the report, the global RFID Locks market size was valued at $2.75 Billion in 2020 and is expected to reach $11.47 Billion by 2028 growing at the CAGR of 18.91% from 2021 to 2028. The major drivers for the growth of the Global RFID Locks Market are the rising demand for security in public places, the increasing demand for automated locks, and the rise in the use of RFID technologies for high-security options

The high cost of RFID locks is the factor that is hampering the growth of this market.

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The recently published research report on Global RFID Locks Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the RFID Locks market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the RFID Locks market report also includes the following data points:
• COVID19 Impact on RFID Locks market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in RFID Locks market

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Key Players
Some of the major RFID Locks players holding high market share include OJMAR, S.A., MIWA Lock Co., Lockitron, Hettich Holding GmbH & Co. oHG. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• OJMAR, S.A.
• MIWA Lock Co.
• Lockitron
• Hettich Holding GmbH & Co. oHG
• Haven
• Häfele
• Honeywell International Inc.
• ASSA ABLOY Global Solutions
• Allegion plc,
• Spectrum Brands, Inc

Segmental Analysis
Market Segment By Access Device with focus on market share, consumption trend, and growth rate of RFID Locks Market:
o Wearables
o Mobile Phones
o Key Fobs

Market Segment By Application with focus on market share, consumption trend, and growth rate of RFID Locks Market:
o Aerospace & Defense
o Manufacturing
o Residential
o Automotive
o Retail
o Hospitality
o Others

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Global RFID Locks Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

North America holds the larger share in the market owing to the increase in adoption of smart locks and rise in sale of RFID locks.

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