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RFID Locks Market to Reach $9.93 Billion, Globally, By 2027 at 19.4% CAGR: Allied Market Research
PORTLAND, Ore., March 2, 2021 /PRNewswire/ Allied Market Research published a report, titled, RFID Locks Market By Access Device (Key Cards, Mobile Phone, and Wearables) and End User (Residential, Hospitality, Automotive, Government, Retail, BFSI, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027 . According to the report, the global
RFID locks industry generated
$9.93 billion by 2027, witnessing a
CAGR of 19.4% from 2020 to 2027.
Prime Determinants of Market
High utilization in the commercial and government sectors, surge in adoption of smartphones, and demand for access control systems with NFC drive the global RFID locks market. However, unaffordable prices of security solutions hinder the market growth. On the other hand, high development of smart homes presents new opportunities in the coming years.
Japan
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United-states
India
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United-kingdom
Pune
Maharashtra
China
Indonesia
Canada