RFID Lock Market 2016 by Trends, Growth and Forecast to 2020

(IT-NEWSWIRE.COM, February 14, 2017 ) RFID technologies are gaining attention from multiple sectors, especially hospitality, where property owners are harnessing the technology in providing enhanced customer experience. The hospitality industry relies on consumer comfort to build brand loyalty. As a result, property owners are increasingly investing in enhancing the aesthetics of their property. Door locks are the first thing in the hotel rooms a consumer interacts with. Also, the traditional form of locks with the key is outdated. The advent of electronic locks with technologies like biometric, radio-frequency integrated circuit (RFIC) , and keypad provide hassle-free access to consumers and also enhance security and safety. The concept of RFID-based electronic locks are very similar to traditional locks and it uses a card or key fob to open a door. The technology finds application in various luxury apartments, government offices, residential properties, and in the industrial domain.

Publisher's analysts forecast the global RFID lock market to grow at a CAGR of 16.71% during the period 2016-2020.
For more information about this report: http://www.reportsweb.com/global-rfid-lock-market-2016-2020 .
Covered in this report
The report covers the present scenario and the growth prospects of the global RFID lock market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of RFID locks.

The market is divided into the following segments based on geography:
- North America
- APAC
- Europe
- ROW

Publisher's report, Global RFID Locks Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- ASSA ABLOY Hospitality
- Dormakaba
- MIWA Lock
- Samsung

Request Sample Copy at http://www.reportsweb.com/inquiry&RW0001508371/sample .

Other prominent vendors
- Allegion
- Godrej Locking Solutions and Systems
- Hettich Hettlock
- LockState
- Onity (by United Technologies)
- SALTO Systems

Market driver
- Increasing demand for access control systems with near field communication (NFC) technology
- For a full, detailed list, view our report

Market challenge
- Threat of substitutes such as biometric and smart card
- For a full, detailed list, view our report

Market trend
- Growing demand for RFID-based furniture locks
- For a full, detailed list, view our report

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RFID Lock Market 2016 by Trends, Growth and Forecast to 2020