DUBLIN, Jan 24, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global RFID Lock Market 2016-2020" report to their offering.
The global RFID lock market to grow at a CAGR of 16.71% during the period 2016-2020.
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.
According to the report, countries in APAC are currently witnessing a large-scale migration of the population from rural to urban areas. The urban population in China in 2015 accounted for 56% of the total population. This is expected to further increase during the forecast period; China's urban population will comprise 60% of the total population of the country by 2020. Similarly, India's urban population is growing at an average rate of 2.5% per annum, whereas Vietnam recorded an average urban population growth rate of 3.1% per annum.
With an increase in urban population, problems such as traffic congestion, shortage of housing, and increasing passenger traffic are creeping into urban cities of APAC. To cater to the needs of such a large urban population, APAC countries are extensively focusing on urban development. The government of India has planned an investment of $650 billion during the next 20 years for development of the urban infrastructure in the country, whereas the Chinese government plans to invest over $1 trillion in urban infrastructure projects by 2030
Further, the report states that the upgrade cost or fresh installation of RFID locks increases the overall cost of existing business models. The commoditization of RFID technology has brought down the prices of RFID locks, but end-users are still reluctant to adopt these technologically advanced RFID locks. Manufacturers of RFID locks are differentiating their products on the basis of integration of RFID lock with technologies like NFC compatible, ZigBee, and Wi-Fi. The RFID locks integrated with such technologies increase the overall replacement price of locks. Hence, end-users are reluctant to deploy advanced RFID locks due to high costs.
- ASSA ABLOY Hospitality
- MIWA Lock
Other Prominent Vendors:
- Godrej Locking Solutions and Systems
- Hettich Hettlock
- SALTO Systems
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: RFID technology landscape
Part 06: Market landscape
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/2rx3vk/global_rfid_lock
Research and Markets
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SOURCE Research and Markets