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The LAMEA RFID Locks Market would witness market growth of 17.2% CAGR during the forecast period (2018-2024). RFID locks are used in locking and unlocking operations. Each access device is embedded into a RFID chip, with encoded data into it. When the access device enters the vicinity of the lock?s reader?s antenna, the chip transmits the data, and accordingly validates the user. Enhanced security, compliance, audit trails, and efficiency are the factors that drive the need for the deployment of electronic security system. RFID locks have gained significance over the years.
Based on the Access Device, the RFID Locks market is segmented into Key Cards, Wearables, and Mobile Phone & Others. The Applications highlighted in this report include Hospitality, Transportation & Logistics, BFSI & Retail, Automotive & Manufacturing, Residential, Government & Defense and Others. Based on Countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA. The market research report covers the analysis of key stake holders of the market.
Key companies profiled in the report include Samsung Electronics Co. Ltd, Nestwell Technologies, Honeywell International, Inc., Siemens AG, Assa Abloy Group, Dormakaba Holding AG, MIWA Lock Co, Dolphin RFID Pvt. Ltd., Salto Systems S.L. and Fortune Marketing Pvt Ltd.