Middle East & Africa RFID Locks Market

Market Introduction

The Middle East & Africa RFID locks market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The MEA includes countries such as South Africa, Saudi Arabia, the UAE, and Rest of the MEA. South Africa’s growing population and rapid urbanization have created booming demand for housing and commercial property, with direct and indirect investments associated to property development. Attributed to this, the country is expected to showcase expansion of affordable housing and essential urban infrastructure. Development of new commercial buildings will a have positive role in boosting the scope of installation RFID locks. With increasing installation of such systems, the demand for sensors will also rise which is projected to fuel the market growth. Saudi Arabia is one of the most important economies in the MEA, and it is also among the fastest-growing economies in the world. The Saudi Arabian government continuously emphasizes urban development as the country is gradually becoming a tourism and business hub. This factor is catalyzing the growth of the RFID locks market in Saudi Arabia. The fast-growing population increase in purchasing power, as well as improving lifestyle is fostering the demand for advanced solutions and systems in this country. The rest of MEA includes Qatar, Egypt, Kuwait, and Turkey, among others. The rising demand for varied smart locking systems in these countries is majorly attributed to the increase in construction activities. These countries are experiencing growth in their hospitality sector over the years, which is boosting the demand for the expansion of urban infrastructure; this, in turn, is propelling the RFID locks market growth.

Market Overview and Dynamics

The RFID locks market in Middle East & Africa is expected to grow from US$ 341.73 Mn in 2019 to US$ 638.78 Mn by 2027; it is estimated to grow at a CAGR of 8.8% from 2020 to 2027. The rising number of hotels are propelling the need for advanced access technology—such as mobile access service. Furthermore, elevation in hotel room security by using Bluetooth Low Energy upgrade module or smart locks is becoming a crucial element in hospitality as it helps hotels provide property with streamlined check-in benefit. The rising demand from hotel owners is encouraging the access control systems manufacturers and tech giants to work together to develop smart door locks for hotels and other buildings included under hospitality industry. Various hoteliers are preferring contactless RFID cards over old magnetic keycards to offer enhanced guest experience. The use of RFID cards and locks is less cumbersome and enables faster room entry. RFID locks work with different access credentials such as wristbands, mobile devices, and key fobs, thereby promoting its use among hoteliers. In addition, updates in digital key prevent the use of expensive plastic keycards. The minimum use of single-use plastic cards in the long term helps hotels cut down their operating costs and carbon footprint. Therefore, improved guest satisfaction and lesser operating costs and carbon footprints are among the benefits offered by RFID locks, which, in turn, drive the demand for RFID locks in the hospitality sector across Middle East & Africa.

Key Market Segments

Based on access devices, the key cards segment accounted for the largest share of the Middle East & Africa RFID locks market in 2019. Based on end-user, the hospitality segment held a larger market share of the Middle East & Africa RFID locks market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Middle East & Africa RFID locks market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are include Assa Abloy AB, Digilock (Security People, Inc.), Dormakaba Holding AG, Euro-Locks SA NV (Lowe & Fletcher Group), Godrej & Boyce Manufacturing Company Limited, Onity Inc. and Samsung Group.

Reasons to buy report

• To understand the Middle East & Africa RFID locks market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East & Africa RFID locks market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East & Africa RFID locks market
• Obtain market revenue forecast for market by various segments from 2020-2027 in Middle East & Africa region.

MIDDLE EAST & AFRICA RFID LOCKS MARKET SEGMENTATION

By Access Devices

• Key Cards
• Mobile Phones
• Key Fobs

By End-User

• Hospitality
• Residential
• Manufacturing
• Retail
• Automotive
• Aerospace & Defense
• Government & Public Utility
• Others

By Country

• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East & Africa

Company Profiles

• Assa Abloy AB
• Digilock (Security People, Inc.)
• Dormakaba Holding AG
• Euro-Locks SA NV (Lowe & Fletcher Group)
• Godrej & Boyce Manufacturing Company Limited
• Onity Inc.
• Samsung Group

Middle East & Africa RFID Locks Market Strategic Insights

Middle East & Africa RFID Locks Market Segmentation Analysis

Middle East & Africa RFID Locks Market Report Highlights

Middle East & Africa RFID Locks Report Scope

Middle East & Africa RFID Locks Market Country and Regional Insights