Market Overview:
The global smart hotel locks market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for smart hotel locks from luxury and budget hotels across the globe. Additionally, the growing adoption of RFID card locks and smart card locks is also contributing to the growth of this market. The global smart hotel locks market by type is segmented into RFID card lock, magnetic card lock, and smart card lock. The RFID card lock segment is expected to account for a major share of the globalsmart hotellocksmarket in 2018 owingto its high adoption ratein luxury hotels. , Marriott International Inc., Accor SA, InterContinental Hotels Group plc., and Wyndham Worldwide Corporation among others .
Product Definition:
A Smart Hotel Lock is a digital lock that can be opened and closed using a smartphone or tablet. Smart Hotel Locks are often used in conjunction with hotel room key cards, allowing guests to unlock their rooms using their phones. Smart Hotel Locks can also be used to provide access to other areas of the hotel, such as the pool or gym.
RFID Card Lock:
RFID card lock is a radio frequency identification technology that involves the use of an RFID tag or label, which can be attached to personal identity cards or passports for verification purposes. The technology helps in enhancing security by preventing counterfeit and fraudulent activities. It also helps in improving customer service by enabling hotel staff to track guest’s details and responses through their mobile devices.
The global smart hotel locks market was valued at USD 1,37 billion in 2015.
Magnetic Card Lock:
Magnetic card lock is a smart hotel lock which uses the power of magnets to secure cards or passports containing vital information such as credit card data, debit card numbers, and travelers cheque. The technology used in these locks is quite simple; it consists of two coils placed back to back with a small opening between them. When the door is closed, the magnetic field created by those coils captures and holds onto the information on the plastic cards/passports until you open the door again.
Application Insights:
The luxury hotel segment accounted for the largest revenue share of over 50% in 2017. The growth is attributed to an increase in the number of luxurious hotels across the globe, especially in emerging economies such as China, India and Brazil. Furthermore, a rise in travel and tourism activities is expected to boost product demand over the forecast period.
The budget hotel application segment is anticipated to witness significant growth during the forecast period owing to increased government spending on social services such as education and healthcare resulting into increased disposable income for travelers from middle-income families at an affordable rate. This has resulted into low-cost accommodation becoming available across various regions thus driving market demand during this study period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing number of smart hotel projects by companies such as Marriott, AccorHotels, and Hyatt Hotels Corporation. For instance, in October 2018, Marriott International Inc., announced opening of new luxury hotels under the brand name ‘Marriott Executive Apartments’ in New York City and Miami Beach. These luxury hotels will have digital key system with no physical keys for guests’ rooms or entryways; thus breaking away from traditional security systems that involve delivering duplicate keys or access codes to housekeeping staff members each day before check-in time so they can enter guestroom without any problems.
Growth Factors:
- Increasing demand for smart hotel locks from the hospitality sector as it offers enhanced security and convenience to guests.
- Rising adoption of IoT-enabled devices in the hospitality sector is expected to fuel the growth of the smart hotel locks market.
- Growing demand for keyless entry systems in hotels is another major factor that is anticipated to drive the growth of this market during the forecast period.
- Proliferation of digital technologies has led to an increase in demand for advanced locking systems, which is expected to boost the growth of Smart Hotel Locks market over next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Hotel Locks Market Research Report
By Type
RFID Card Lock, Magnetic Card Lock, Smart Card Lock
By Application
Luxury Hotel, Budget Hotel
By Companies
ASSA ABLOY, Dormakaba, Allegion, Onity, MIWA, SALTO, Omnitec, ZKTeco, Mtech Locks, Dahua Technology, Fox Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
154
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Smart Hotel Locks Market Report Segments:
The global Smart Hotel Locks market is segmented on the basis of:
Types
RFID Card Lock, Magnetic Card Lock, Smart Card Lock
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Luxury Hotel, Budget Hotel
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ASSA ABLOY
- Dormakaba
- Allegion
- Onity
- MIWA
- SALTO
- Omnitec
- ZKTeco
- Mtech Locks
- Dahua Technology
- Fox Technology
Highlights of The Smart Hotel Locks Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- RFID Card Lock
- Magnetic Card Lock
- Smart Card Lock
- By Application:
- Luxury Hotel
- Budget Hotel
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Hotel Locks Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Hotel Locks is a technology that helps hotel guests secure their belongings while they are away. The lock uses RFID tags to identify the items and keep track of who has access to them. This way, guests can be sure that their belongings are safe and secure while they're away from the room.
Some of the major players in the smart hotel locks market are ASSA ABLOY, Dormakaba, Allegion, Onity, MIWA, SALTO, Omnitec, ZKTeco, Mtech Locks, Dahua Technology, Fox Technology.
The smart hotel locks market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Hotel Locks Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Hotel Locks Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Hotel Locks Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Hotel Locks Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Hotel Locks Market Size & Forecast, 2020-2028
4.5.1 Smart Hotel Locks Market Size and Y-o-Y Growth
4.5.2 Smart Hotel Locks Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 RFID Card Lock
5.2.2 Magnetic Card Lock
5.2.3 Smart Card Lock
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Luxury Hotel
6.2.2 Budget Hotel
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Hotel Locks Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Hotel Locks Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 RFID Card Lock
9.6.2 Magnetic Card Lock
9.6.3 Smart Card Lock
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Luxury Hotel
9.10.2 Budget Hotel
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 RFID Card Lock
10.6.2 Magnetic Card Lock
10.6.3 Smart Card Lock
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Luxury Hotel
10.10.2 Budget Hotel
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 RFID Card Lock
11.6.2 Magnetic Card Lock
11.6.3 Smart Card Lock
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Luxury Hotel
11.10.2 Budget Hotel
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 RFID Card Lock
12.6.2 Magnetic Card Lock
12.6.3 Smart Card Lock
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Luxury Hotel
12.10.2 Budget Hotel
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 RFID Card Lock
13.6.2 Magnetic Card Lock
13.6.3 Smart Card Lock
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Luxury Hotel
13.10.2 Budget Hotel
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Hotel Locks Market: Competitive Dashboard
14.2 Global Smart Hotel Locks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ASSA ABLOY
14.3.2 Dormakaba
14.3.3 Allegion
14.3.4 Onity
14.3.5 MIWA
14.3.6 SALTO
14.3.7 Omnitec
14.3.8 ZKTeco
14.3.9 Mtech Locks
14.3.10 Dahua Technology
14.3.11 Fox Technology
