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Assa Abloy AB SWOT & PESTLE Analysis

ID : 52941453| May 2021| 21 pages

COMPANY PROFILE -Assa Abloy

Business Sector :Security and Access Solutions (Mechanical and Automated Locks and Entrance Solutions)

Operating Geography :Sweden, Europe, Global

About Assa Abloy :

Assa Abloy is a publicly traded company headquartered in Stockholm, Sweden. It is a Swedish conglomerate which manufactures locks and security systems. The company supplies products and services ranging from locks, doors, gates and entrance automation. It also offers controlling identities with keys, cards, mobile and biometric identity verification system. The company was formed in 1994 through the partnership of Swedish firm ASSA and Finnish high security lock manufacturer Abloy. Later the same year, the company got listed on the Stockholm Stock Exchange. The company also makes provision of electronic locks which enable students to utilize their smartphones on campus, to open doors in Apple-Wallet, providing a more User-friendly experience. ASSA ABLOY has won numerous awards like Secure Campus in the US for Attack Resistant Opening, Gold Winner in German Brand Award being some of them. From being a regional company with 4700 number of employees in 1994, the company has now become a global group of 49000 employees in more than 70 countries as of 2020. In the last 10 years ASSA Abloy has increased its growth rate by 9% annually and achieved 16% operating margin.
Assa Abloy’s unique selling proposition or USP lies in being the largest manufacturer of high-security locks in world. The company is committed to providing services that are environmentally friendly with reduction in usage of gas, electricity, water in production of their products. Assa Abloy’s vision statement reads “The Group’s vision is to be the leader in providing innovative access solutions that help people feel safe and secure so that they can experience a more open world.”

Assa Abloy Revenue :


SEK 87,649 million - FY ending 31st December 2020 (y-o-y growth - 6.8%)
SEK 94,029 million - FY ending 31st December 2019 (y-o-y growth 12%)
SEK 84,048 million - FY ending 31st December 2018

Competitive Analysis of Assa Abloy

SWOT
PESTLE

The SWOT analysis for Assa Abloy is presented below in a matrix followed by the detailed analysis report

Strengths
Weaknesses
1. Resilient business due to plump share of sales coming from aftermarket and commercial arena Global leader of access solutions
2. Growth driven by effective innovation
3. Growing as a multi brand conglomerate with mergers and acquisitions
4. Even contribution of various segments in the growth of the organizations
5. Impeccable performance over a longer period
1. Lack of low-cost solutions for emerging markets
2. Downplayed with vulnerability of electronic locks in hotels
3. Downsizing the business implicating expansion beyond capabilities
4. Low presence in emerging markets
Opportunities
Threats
1. Innovation of cloud-based security systems also generates income through subscription
2. Growth of real estate in emerging markets may drive demand for security solutions
3. Generation of recurring income by renovations
4. High demand of automation and integration in access solutions
5. Growing market of DIY home improvement market
6. Rise of E-commerce also demands more security goods in transit
1. Unable to expand due to anti trust laws
2. High competition among peers
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Assa Abloy

Strength

1. Resilient business due to plump share of sales coming from aftermarket and commercial arena: Assa Abloy shows its resilience through its customer base. Around 75% of the sales in 2019 were generated from commercial customers. This signifies that the products are durable and modern, meeting the requirements of a commercial property. Added to that, 67% of sales were generated from aftermarket and rest through construction of new properties. This signifies that the product has a satisfied customer base. The customers offer repeat business to Assa Abloy for renovation, remodeling, replacements or up gradation of their properties. This is only possible when consumers are highly satisfied with their nascent services which nurtures customer loyalty.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

1. Innovation of cloud-based security systems also generates income through subscription: The access solution and physical security market is evolving with usage of AI and cloud services. Locks are no more a matter of a mechanical or an electromechanical key but customers are seeking higher level of information such as remote monitoring of properties, tracking of usage and records of users. Such advanced level of requirements could be solved through integration and digitization of locks, which would again add expense of datacenters to consumer or convenient cloud services by the manufacturer. Assa Abloy decreases such expenses through its in house cloud based security solutions. The services are provided through subscription; thus, creating a regular source of recurring income after the product is sold. Such products are developed by integration of product development with IT solutions. The brand has a dedicated digital factory to provide such services to its customers. Assa Abloy brands such as Accentra and Hi-O, etc. are available with such advanced convenience services.

The remaining section of “Opportunity” is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Allegion
  • Dormakaba
  • Arrow
  • Milre
  • Dorset
  • Chamberlain
  • Godrej
  • Geze
  • Blum
  • Kwikset

Major Brands :

    style="list-style-type: square">
  • Assa Abloy
  • Abloy
  • HID
  • Yale
  • Tesa
  • Sargent
  • Lookwood
  • Panpan
  • Amarr
  • KAD
  • IdenTrust
  • Cliq
  • SEOS
  • Aperio
  • Accentra
  • Hi-O
SWOT & PESTLE (combined)
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References used in Assa Abloy SWOT & PESTLE Analysis Report

1. Creating access for a safer world - https://www.assaabloy.com/group/en
2. Annual Report 2019 - https://www.assaabloy.com/Global/Investors/Annual-Report/2019/EN/Annual%20report%202019.pdf
3. Hotel door locks worldwide were vulnerable to hack - https://www.bbc.com/news/technology-43896360
4. UPDATE 2-Assa Abloy to take a near $700 mln writedown in China - https://www.reuters.com/article/assa-abloy-results-impairments/update-2-assa-abloy-to-take-a-near-700-mln-writedown-in-china-idUSL8N1U20YV
5. Resolutions at ASSA ABLOY AB’s Annual General Meeting 28 April 2021 - https://mb.cision.com/Main/7333/3335739/1409104.pdf
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Assa Abloy SWOT and PESTLE analysis has been conducted by Tej Narayan Shaw and reviewed by senior analysts from Barakaat Consulting.

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