Market Research and Analysis RFID Electronic Locks Market: Analysis 2026

RFID Electronic Locks Market Regulations, Size, Share and Competitive
Landscape Outlook to 2026: Credence Research
According to a new market research report published by Credence Research “RFID Electronic Locks
Market (Access Device Type – Cards, Mobile Phones, Wearable and Key Fobs; End-user – Government &
Defense, Corporates, Banking & Finance, Healthcare, Residential, Retail, Hospitality, Automotive and
Others) Market – Growth, Future Prospects and Competitive Analysis, 2018 - 2026”, the global RFID
electronic locks market was valued at US$ 3.25 BN in 2017 and is set to demonstrate double digit CAGR
across the forecast period through 2018 to 2026.
Market Insights
Radio Frequency Identification (RFID) technology has emerged among the most promising technologies
in personal identification and asset tracking. Developers actualized the innovation not only key in
traditional applications such as asset or inventory tracking, but also in security services as door locking,
furniture locking and other access controlling applications. Growing security concerns, aging
infrastructure and inclination towards diminishing operating costs stimulating the adoption of RFID
electronic locks across different end-users. Another major factor supporting market growth is consistent
decrease in RFID electronic locks prices. Such locks are offered at charges as low as US$ 20, making them
affordable for numerous applications. Moreover, superior advantages of RFID systems over other
conventional locking systems would ensure robust demand for RFID electronic locks over the following
years.
Browse the full report at https://www.credenceresearch.com/report/rfid-electronic-locks-market
Overall RFID electronic locks market segmented based on access device and end-user. By access device,
market directed by the cards segment primarily due to its multiuse functionality. Contrast to older systems
used a card as just standard key, advanced RFID electronic lock cards can be used as multifunctional tool.
Such cards utilized as ID card, room key and also utilized for managing in-room vitality utilization and
transaction of money. With widespread application area, segment expected to retain its dominating
position throughout the forecast period. Based on the geography, Asia Pacific dominated the RFID
electronic locks market globally in 2017. The market in the region firmly supported by the swiftly rising
retail sector complemented by the presence of strong industrial, commercial, hospitality as well as
transportation & logistics industry.
Another major factor stimulating the RFID electronic locks market is consistently rising retail sector
globally. Worldwide number of shopping centers or malls continues to increase with promising rate. Retail
environments are full of valuable assets, both on the shop floor and in the stock room. RFID electronic
locks are all designed to permit access only to person or goods with the necessary authority to enter a
particular area, ensuring that asset and people are protected. Considering the vital application of RFID
electronic locks in overall safety & security, rising retail sector would ensure strong market growth across
the forecast period. Moreover, flourishing commercial, industrial as well as government sector further
generate need for effective security measures to evade information breach, maintain safe environment