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RFID Locks Market to be worth USD 16,450.6 Million by 2026 - TMR RFID locks are designed to perform unlocking and locking operations. Each access device contains the encoded data on the RFID chip. When the access device comes in the vicinity of the lock’s (reader’s antenna), the chip transmits the data, thus identifying the user. Enhanced security, compliance, audit trails, and efficiency are just a few of the reasons people are looking to deploy electronic security. Since the 1970’s, RFID locks have progressed significantly when they were prominently used in the hospitality industry and relied upon holes that were pierced into the cards. The market for RFID locks is expected to grow at a CAGR of 16.9% during the forecast period 2018-2026. The market is expected to reach 16,450.6 Mn in 2026.