Assa Abloy: Growth and Leadership in Smart Security in India

Assa Abloy is a 30-year success That Caters To The Access Solution Industry and the Future Of Smart Security In India.

“We can provide not only the needs that the customers are aware of but also the needs that they are not yet aware of.”

– Mr. Raman Kaul

With over 30 years in business, Assa Abloy has emerged as a leading name in the security and locking innovation industry. With an exquisite collection from every corner of the world, their new experience center in Hyderabad is a testament to innovation. It is quite a compelling example that shows what creativity, imagination, and vision can be achieved in luxurious spaces through cutting-edge security and locking solutions.

This is an interview where the Senior Vice President of The Assa Abloy India, Mr. Raman Kaul, speaks directly about all that the Organization stands for, its triumphs, and the chances that are in store for them.

Excerpts from the interview with Mr. Raman Kaul:

I want to express my utmost appreciation and congratulate the team on launching their Second Experience Center in Hyderabad. So what’s the journey of ASSA ABLOY in India?

Mr. Raman Kaul: Assa Abloy started its journey 30 years ago. And then after getting the first major order we set up a legal entity and started our project expansion through the neighboring countries. Then, in 2014, we acquired a glass business from Pooja Hardware, an Enox brand, which gave us access on the product side to the smart business space. encompasses glass hardware, furniture hardware, storage systems, and also an extensive distribution network. However, the realization of focusing on local designs and manufacturing, to be successful in India led us to obtain another company, SMI, based in China, in 2017 which gave us a manufacturing property. Therefore, after 30 years of ups and downs, today, The Assa Abloy has a very strong foundation based on which we are moving forward.

As Assa Abloy has become a pioneer in the Indian Security and Locking Innovation Industry, what do you think is the most challenging part of being an SVP of such a dynamic organization?

Mr. Raman Kaul: Consumers use the type of product we make in Assa Abloy on a daily basis. This creates a big opportunity as well as a challenge for us to stay up-to-date with the technology and remain consistent with the consumers. The second aspect is understanding not only the needs that the customers are aware of but also trying to understand the needs that they are not yet aware of that we can provide. Therefore continuously understanding the market requirements, the customer needs, and being faster to reduce the time to market is a pretty good challenge. The third is the people. Because an organization can only grow based on the capabilities and competencies of the people who work in the organization. So also developing an organization fast enough to capitalize on the market is a challenge that tends to serve as an opportunity in the long term.

Why do you think that digital security has gained a lot of popularity not only in commercial spaces but in homes as well? Why has the popularity increased and why are people also going for the safer lock system not only in their offices or commercial spaces but also in their residential spaces?

Mr. Raman Kaul: Digital solutions meet our customers’ needs for security, grant opportunities, and convenience. It is also important to engage with the general population while Internet usage, familiarity with digital tools, and mobile usage are increasing. India has a young, urbanizing population with several nuclear families who need remote access. Digital technology offers security, conveniences, and aesthetics in a connected ecosystem that integrates appliances and home security. It combines customer demand, preference, security, convenience, and affordability.

How does, according to you, ASSA Abloy prioritize innovation and stay ahead of all the competition in the security industry?

Mr. Raman Kaul: The size of our organization gives us immense organizational, social, and human capital. Since we are a big corporation with more than 50,000 employees all over the globe and almost every country watches our presence, that benefits us to a great extent. We generate large revenue for many companies; we invest a huge amount in different companies, which enables us to acquire technology and human capital very rapidly and thus helps innovate our team. It is particularly relevant to the security business because of the scale and investment of capital, which leads us to enjoy certain advantages in serving markets with demanding requirements and preferences from one country to another.

What are the biggest challenges and opportunities you see for Assa Abloy in the coming years?

Mr. Raman Kaul: Well, first of all, I’ll come to the challenge. The first challenge is to grow faster as we have a lot to follow up. The second challenge is bringing many innovative products quickly into the market and reaching our customers. And the third significant challenge is to grow the organization in terms of competencies and abilities for people. And I think the last but not least would be to broaden our potential as we still have some ground caps, either directly or through an acquisition director.

In the next five years, what do you think the smart security landscape will look like, especially in the Indian market?

Mr. Raman Kaul: Dynamics are changing fast in the Indian market with the increasing accessibility and affordability of smart products. The gap between organic and smart products will reduce with time. The construction industry as a whole will grow by 5-6% annually up to the year 2027, and security products will grow accordingly. On the other hand, smart products will continue a 30% CAGR growth while all market segments start having these products available and affordable. We cannot rule out the associated opportunities, as integration and a connected ecosystem will be in demand. I foresee a growth potential of 25-30% associated with increased affordability in the building industry; increasingly, smart home systems are getting closer to full integration.

Thank you so much for your valuable time. I would like you to share your insight with our audience as the senior vice president of Assa Abloy, such an entrenched organization.

Mr. Raman Kaul: I would like to convey that we are deeply committed to our customers, with customer focus embedded in our core. Our value proposition is to comprehensively meet all architectural techniques and access solution requirements. We supply toll control systems, storage systems, glass hardware, and even large external furniture. Technically, our offerings are digital, mechanical, and electromechanical, along with digital access solutions. With this kind of product range at the back and a strong team of architecture consultants and back-end support, we ensure only the best solution reaches our customers.