Global RFID Locks Market to Reach $8.3 Billion by 2027
The global market for RFID Locks estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$8.3 Billion by 2027, growing at a CAGR of 12.2% over the analysis period 2020-2027. Key Cards, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$6.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Wearables segment is readjusted to a revised 12.7% CAGR for the next 7-year period.
The RFID Locks market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.1% and 10.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
In the global Mobile Phones segment, USA, Canada, Japan, China and Europe will drive the 11.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$285.4 Million in the year 2020 will reach a projected size of US$616.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
The RFID Locks market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.1% and 10.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
In the global Mobile Phones segment, USA, Canada, Japan, China and Europe will drive the 11.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$285.4 Million in the year 2020 will reach a projected size of US$616.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
No comments: