Newstrack

Assa Abloy aims at 70% market share in e-locks

EH Staff - Chandigarh

Norway-based Assa Abloy is finding strong demand for its electronic segment of locks and safes across the Indian hotel market. Vegard Prytz, vice president and regional director (Asia Pacific) of Assa Abloy Hospitality, feels that India is a big market for hotel products and the company is expecting to capture 70 per cent market share in the next two years for its electronic locks, 'VingCard'. He says, "Apart from e-locks, we are quite confident about our product 'Elsafe' (electronic safe). Our brand has a market share of 30 per cent which we expect to reach 50 per cent in the next two years."

He claims that VingCard at present controls the electronic locks segment with 50 per cent market share. "The demand for electronic locks for Indian hotels is approximately at 2,000-3,000 pieces, which is all set to rise with time as hotels are aggressively adopting technology in this area of operation," he says.

The company is keen on the three- and four-star hotels. "We are offering both magnetic stripe and smart card locks technology and are going to launch RFID-based locks - Signature - in the Indian market soon," Prytz adds.