Salto: $400+ Million Access Control Manufacturer Profile
While Salto may not be as well known to Americans, it is one of the largest access control companies, especially in its home market of Europe. Now, it aims for US expansion to fuel its growth.
Based on an interview with the CSMO Aznar Sethna and NA President Bill Wood, we detail Salto's background, revenue, positioning, and market approach.
Executive *******
******* ** ****, ***** *** ******* in *** ********** ******* *** ****** control ******** ****** ******. *** ***** comprises ****** ** *********, ********** ***** $420 ******* ** ******* *** ********* 1,700 ******, **** **%+ *** ******.
***** ****** ******* *** ******* ******, Salto ***** *********** ****** ** ***** America *** ****. *****'* ******** ******* around ********* **************, ******** ** ***** platforms *** ****** ***********, ***** **** shown **** ******-***** ******, ********* ** the *******.
** ***** *******, *****'* ******** ******** integrating ***** *********** **** ******** ******* and ********* *********** *********** *******, ***** now ********* ***** ******* ****** ********.
Started ***** **** *****'* **** (*****) ***********
***** *** *********** ** **** ** former **** ********** *** *************, ************* *****'* *********** ** ******* ~$*** *******, ** ****** ********** locking ********** ****** *********** **** *** commercial ****** ******* ******, ****** ********.
***** *** ******* ** * ***** of ************* **** ********** ** ***** locking ** ****. ** ***** **** an **** ***** *********** ** * Spanish *******, ****. *** ********** **** of **** *** ******* ** **** Entry ******* *** ********* ** ***** only * *** ***** *****. **** founders *** ********** **** ** **** had * *** ******* ** ************* access *******, ** ***** ********** ******* outside *** *********** ********, *** ** create ********** ******* ** ********** ****** control *****.
Expansion ** **** ****** **** **** ***********
***** ********* **** *** ***** ********* in *** **** ****** ****** *** early *****, ********** ** *******, *******, the ***********, *** ***********, *** ******* facilitated ** * *********** ********, ** ******** ********** ******** ************, ***** ***** ** ************ *** market ********, ************ ** *** ************* of ***** ***** ************* ********** ** the ** ** **** *** ********* into ***** ******* ** ****.
***** ******* ******** ** *** **** region ** *** ******* *****, ************ in *******, *******, *** ***********, *** Switzerland. *** *********** **** ****, ** Austrian ******* ******** *** ************* ********** cylinders ** ******* ******, ************* ********** this ******. **** ****** ** * partner *** ****** * ******* **** in ************, ******* ** ******* ********* a ****** ******** ** ***** *******. In ****, ** ******* *** ***** international ********** ** *** **, ******* leveraging *** ******** ** *** **** region ******* *** **** ***********. ****** 2006, *** ** *****'* ******** ********* our ******* **** ***** *******, ******* to *** ************* ** *** ******* in *** *.*. ** ****.
Salto ***** *********** ~** *********
***** ******** ~** *********, ********** ** ******* *** ************, and *** ***** ********* **** *******, Danalock, ******, *********, *** ********. ****** said **** *** * ********* **** with * *********** ******* ******** *** a ************* ** *********** ***********, **** the ******** ********** *** ****** ******* holding * ******** *****.
** ** ****, * *********** ********* year *** ***** ** * *****, we ********* ************* ** *********. **** includes ****** ** ******* *** ************ alongside *** ***** ********* **** *******, Danalock, ******, *********, *** ********. **** year ****** * ****** *********** **** a ******* ******** *** * ***** in *** *********** *********. *********, ***** 71% ** ***** ** **** ** the ******** ********** *** ****** *******, while *** ********* **% ** *********** among **** ********** *****.
$400+ ******* ****** ******* *** ****** ***** ******
***** **** **** *** **** ***** revenue ******* ************* ~$*** *******, ********* driven ** ***** ** **%, ******* at **%, *** ******** ** *.*% (~$10 *******), **** *** ********* ******* shared ***** ******* ******** **** *********, Conlan, *** ********, ********* ** * workforce ** ***** *,*** *********.
**** ****, *** ******* ******* ************* 385 ******* *****, **** * ********* of ****** *,*** *********. ** ***** of ******* ************, ***** *********** ***** 75%, ******* ******** *** **% ** our ***** ************ ***** *******, **** Cognitec ************ ******* *.*%. *** ********* is ***** ***** ******* ********* **** Bluefield, ******, *** ********.
**** ********* ******* ** ****, *****'* ******* *** ************* ~$*** million, **** ********** ******-***** ****** **** recent *****, ********* ** *** ****.
**** ** ******** *******, *** ******* was ****** ** *** *******, ************* above *** *******. *** ****** *** been ************ ** *** ****** ****** over *** **** *** *****, ****** not ** **** ** **%, *** rather ** *** ****** ****.
***** **** *** ******* **** **** has **** ******* ******** ** *** key *******: * *********** ***** ******** by ******* ** *** *** ** last ****, ********* ** * ***** of ****** ** ********, *** ********* supply ***** ****** **** **, ******* to * ******-****-***** *******, **** *********** order ******* ******* ******* ******.
**** ****'* ******* *** **** ************* influenced ** *** *******. *******, ***** was * *********** ***** ******** ******* the *** ** **** **** ** all *******, ***** ******* ******** *** order *****. ** ********, ** *********** an ********** ***** ** ******, ***** we've **** ********** ** ********* **** the ********** *******. ************, ** ** of **** ****, ** **** ********** well **** ****** ***** ******, *** our ******* *** ***** ************ ****** than *** ********. ***** ******* **** notably ******** *** ******* **** ****. In ***** ** ***** ***** [***********], the ***** ** **** ******* **** what *** ********* – * *** flatter, **** **** ****** ******.
Europe **% ** ******* *** ** ****** ************
********* ** *** ****, ****** ***** Salto's ***** **** **%, ******** ** North ******* ** **% *** **** at *%, *********** ***** ***** *** top **** ****** ********* ** ********** locking *** ****** *** *** *** in *** ******* ****** ******* ******.
**************, ****** ******** *** **% ** our *****, **** ***** ******* ************ 20%, *** **** ****** *%. ****** various ******* ***** ********* ********, **'* estimated **** ** *** ***** *** top **** ******* ********* ** ********** locking ********. ** *** ******* ***** of ****** *******, ** **** ****** the *** ** *********.
********* *** *********** ** *******, ***** *** **** *********** ****** and *********, **** * ********* ***** over *** **** *** ***** ** establishing ********* *** ********** ** *** APAC ******, *** ******.
***** ********* *******, **'** *********** *********** growth *** *********. *** ******* ***** over *** **** *** ***** *** been ** ************ ********* *** ********** in *** **** ******.
***** **** **** ** ******* *** most *********** ******, ** ***** ** percentage, ** ********* **** ***** *******, currently ********** *** **% ** *****, and ****, ** *%, **** ***** regions ********* ** ***** ************ ****** in ******** ** ******, ***** **** growth ** ***********.
** ********** *** **** *********** ******, in ***** ** **********, ** **** from **** ***** ******* *** ****. North ******* ******** *** **% ** our *****, *** **** ** ****** 6%. ** *** ******* ** ***** two ******* ** ***** ************ ******. In ********, ** ***'* ****** ** much ****** **** ******.
North ******* ****** ******** *** *********
*****'* ******** ** ***** *******, ************ up ***** ****-****, ******* ** '********** mechanical *** ***********,' ************* **** ******** like *********, *******, *******, *** **** in *********** ****** *******, **** ********.
*** ******** ** ***** ******* ******** various **********. *********, ** ***** ****** 2013 ** ****, *** ******** *** in **** * **** '********** ********** key ***********.' ** *********** **** ******** like *********, *******, *******, *** ****, who *** ******* ** *********** ****** control. *** **** *** **** ** expand ***** ***** ** *********** ***** credentials, ***** ** **** ********* ***** 2001, **** ****** *** *** ** mobile ***.
***** **** *** ****** ******** ** the ***** ******** ********** *********** *********** 10 ** **% ** *** ********, translating ** **,*** ** **,*** ****** points ******** **** ****, * *********** figure ** *********** ****** ******* *** substantial **** **** ******** ** ***** total ********** ** ***,*** ** ***,*** access ****** ****** ***** *******.
** ***** ** *** ****** ********, this ******* *********** ***** ** ** 12% ** *** ******** ** ***** America. **** ****, **** ********** ** deploying **,*** ** **,*** ****** ****** in ********** ************, * *********** ****** for *********** ****** ******* *********. ***** it ***** **** *****, *********** **'** deploy ****** ***,*** ** ***,*** ****** points ****** ***** *******, **'* ***** substantial.
NA ******** ******* ** ***-**-*** ********
**** ** *****'* ***** ******** ******** is ******** ** *********** *** ***-**-*** user *******, ******** **** *********** *** expanding ** ********* ********* **** ***-**** solutions *** ******* ********. **** ********, the *********** *********** ****** ** ***** America *** ****** ***** ******* ******** vertical, ********** ********* *** ***********, **** the ************ ** ******** ************ ******** for ***** *******, *** ****.
**** ** *** ********, *******, ******** around ****** **** ********* ** *** end-to-end **** *******. **** ***** ** hospitality *** ******* ***** **** ********* education, ************ ** *** **** ********* for ******* ********. **** ********, *********** residential *** ****** *** ******* ******** vertical ** ***** *******, ********** ********* and ***********. **** ****** ** ************ exciting ******* **'** *** *********** ******** specifically ******** *** ***** *******, **** our *** ******* ******* *** *** residential ******.
******* * *********** **** ** ********* global ******, ***** *********** ********* ****** in ***** *******, ****** ** ******** purpose-built ******** **** *********** ******* ******* customer ***********, ****** ** ******** ****** share *** ***** ******** ******.
**** ** * ****** **** ***** be **** ** ********* ********, ** anticipate ********* ****** ** ***** *******. We're ******** * *******-***** ******* **** competes *********** ** *** ****** ******* asking ********* ** **** ***********. ** believe **** **** ******** *** ****** share *** ***** ****** ** *** region.
Shift ** ***** *** ****** ***********
*** ******* ** ************ ************ ******* mechanisms, **** * *********** ***** ** electronic ******* *********** ** ******* ********** and ***** ****** ** ***** ******** operations, ******* **-**% ****** ****** *****, per ****.
*****'* * ********* ***** ******* *** digitalization ** ********* *** ********** ******* to ******* **********, ***** ** ***********. We're ******** ******** ** ******** ******** approaches, **** ********* ******** ***** ********* how ********** ******* ********** ****** ******* industry *********** *** *** *****. ************* 10-15% ** *** ********** ******* ***** platforms, *****, ******* *** ********** ** on-prem *********, ** *** *******-******* ********, showing **** ******-***** ****** ***** ** 30% ** **% ** **** *****.
********* ** *****, ****** *********** *** experiencing * *********** ******** ********, **** around **-**% ****** ** *** *.*. and **** ***** ** ******* *******, notably ** ***********, **** ** **% adoption **** ****** ** *** ****** for ****** *****-** ***********.
********* ****** ***********, **'** ******* ********** their ********. ******** ** ************* ********* our *** **** ******* *****-***** **** and ***’* **** * *** ** accurate **** ** ******, ** ******* a **** ******-***** ****** ** *** U.S., ****** **-**%. **** ****** ** digital **** ** ********** ****** ******* and **********. *** ********, ** ******* hospitality ********, *** ******** **** ** mobile *********** ** ** **** ** 85%, ****** ****** ** *** ****** for ****** *****-** ***********. **** ***** is ******* ********* ** ***** ******* like *********** *** ******, ********* **-******* spaces, *** ************ ******* ****** ***** in ****** *****.
Mobile ********** ******** **** ******* *** ***** ***********
***** **** *** ****** ************* ******* provides * **** *****-**** ************ *** an ****** *** **********, ******* ** growth *** ******* **** *** ** Android *** ****** ************ ** ***** and ******* ****** **********, ********** * possible ****** ** ******** ********.
* ****** ******* **'* [****** ***********] not * *******. *** ****** ******** has ****** **** ****** ** *** monetization ********. ** ***** ** **** for *** ***** **** ** ***** on *** ********, ******** ** ** annual ************ *** *** ****. **** model ***** ***-**** ********* ***'* ***** costs *** **** **** ********* ******, as *** ****** ** ***** ** entity *****. ************, ********* * ****** doesn't ******* ** ***** ************. ***** adopters ** *** ****** ******** **** seen ****** *** *******. **'** ******* about *** *** ********** *** ********** great ****** **** *** *** ****** experience, ********* **** ******* ** *** user ****. **'** ************ *********** *** in *** ******* *********** *** ***** four *****. *** ************ ** ****** technology, ******* *****'* ** *******'*, **** operates ******* * ****** *** ** significant. **** *********** **** ****** ********* adoption ********.
*****'* *** **** **** ******** ******** an ***** ****** ********** **** ******** asymmetric **********, *************** ** **** ****** DESfire ********* ** *********** *** ****** settings, *** ***** * ****** ******** feature * ******** ****** ******* *** enhanced ********, *** ****.
** *** *** **** **** ********, for ********, ** ***** ** ***** Wallet ********** ** *** *********, *********** residential ********. **** ** *** **** unified ********** **** **** ********** **********, unlike *** ****** ******* ********* ****** in *********** *** ******* ****** ********. Our ********** ** ** *********** ******* the ******* ***** ** ******* ********** and ****** ********** ****** *** *********. We're ***** ** ** *** ** the *** ******* ********** ********* ** the ******, ***** ******** *** ************* advancements. *** * ****** ******** **** with * ******** ****** *******, ******** security ** *** **** ****** ***** devices, * ******* *** *********** ******* in *** ***********' *********.
Focus ** ****-********* ***********, ****** **** *** *** ***
*** ******* ********** *** *********** ** products **** * ************* ************* *******, maintaining*** ***** ************* ***** ******** ********** *** ************ for ********** ********, **** * ************ commitment ** ********** ******* *** *** Ev3 ********** ****.
**'* ********* ** ********** **** ** single ******* *** ******* * ******** solution; **'* ***** *********** **** ** overall *******. *** ***** ** ** cybersecurity, ***** ** *** *****-********* ************ globally. ** ********** ***** *** ****** techniques, ********, *** ******* ******* ** ensure ********** ********** ****** *** *****. Since ****, ****** *** *** *** MIFARE ******, **'** **** ******** **** our ******** ******** * ******* ***, and *** ********** ***. **'** ************ focused ** *** ************ ********* *** securing ************* *** ************.
*** ******* **** ** ********* * minor **** ** *** ***-********* ********** market **** *** ****** ******* ****, the **** *** ********** **** *** kHz ***********, ******** **** *** ****** platforms.
** ** **** * ******* ******** in *** ***-********* ********** ******. *********, we *** * ******* ****** ****** SALLIS, **** ** *** ***** ****** [Schlage] ** *** ****** ****** [**** Abloy], ***** *** ****** ******** ** a ****-******* ***** **** *** **** controller ****** *** *** *********. ** continue ** ******* * ***** ******** of **** ******* **** ****** * 125 *** **********. *******, **** ** the **** ******* ** *** ***** that ******** ** *** ****** ***-********* world. **** ** *** ****** ********* are ********** **** ***-********* ***********.
OTA ******** *******
********* ***** ****** *** ************,*** ******* ************ ** ********* ****** 2020-2021, ******** ****-***-*** ******** ******* *** reducing ****** *********** ************ *** ***** wire-free ********, **** **** ****.
*** ******* ******** **********, ***** ********* the **** ** *** ******** *** what ** **** ** **, *** based ** * ****** ********. **** early ******* ******'* ******* *** ****** transmission ****** *** ******** ******* **** the ***. ****** ****, ******** ***** 2021, ** ***** ********* ******** **** Bluetooth ***** *** ****** *****-*** ***. We **** ******** ********* ** * backhaul, ********* *** ****** ***** ** connect **** ** *** ****. **** shift ******* ** ** ******* ******** updates **** *** ***. ***, *** device **** **** ********* ******** ********** can ******* ******** ******* ********. **** of *** ******** *** ********* ** a ****-**** *****, ***** ********** ******** a *********** ****** ** * ******** partner ** ******** ****** **** ****** with * ********. *******, ****** *** of *** ********* ******* ***** *** be ******* ************ **** *** ***.
***** ********* ****** ** * "****-**-**** manufacturer," ******** ******** ** ***** **** a *-* ***** ******** **** ** North *******. *** ******* **** ******* firmware ******* ** ******** ******* ********* and *** ********* **** ****** ****** chain *********** ** ******** *** ********** stacks *** **** ********* ******** **********, per ****.
** *** ****, **'** * ****-**-**** manufacturer ********* ********. *********, ** ***** products ** ***** *** *** ********. In ***** *******, ***** ****** **********, delivery ***** ***** **** ** *** weeks. **** ******** ***** ** ***'* have ********* ********* **** *********** ******** firmware. ** ********* ******* ******** ***** as **** *****. **** **** *** edition ** *** *********, *****'* ******* a ******** **** ******** ** ****** new ********, *** ****, ** ******* vulnerabilities. *** ****** ******** ********* ******* three ** **** ******* ********, ********** of *** ***** *** *** ** two ***** ********. * *********** ******* of ****** ****** ***** *********** ** the *********** ** *** **** ******. Previously, ** ******* ******** *********** ** technology ****** *** ************* ********. ***, with * **** ********* **** *****, we *** ******* ****** ******** ****** our ****** ******* *********.
Cognitec ***********
***** ** ********* *** *** ********** ****** *********** **************** *** ********, ********* ****** ******* and **** ************** *** * ************* 'Trusted ********' **********, ********* ** ****.
*'* ******** ***** ************* *** **** technology [******** ****** ***********] ****** *** entire ******* *****. **** ******** ****** at ***** ** ************** ***-*********** *****, offering **** ****** ** **** ** call *** '******* ********' **********, ******* by * ******** *****-**** *********. **** becomes ********** ******** **** *********** *** potential **** ********.
***** **** **** **** ** ** set ** ****** *** ***** ******* combining **-***** ******** **** *** ******** algorithm, *********** *********** ********** *** **** use ** ******** ** ******* ********, and ********** ** ********* ** **** technologies ** ***** **** ***** ********* and ******** *********.
********* *********, ** *** **** ***** to *********** *** ***** ******* **** utilizes **** *** ******** *********** ************ and *** ******** *********. *** ****** we ***** ** **** ********* ** due ** *** ************* *********** **********, privacy, *** **** *** ** **** part ** *** *****. ** **** motivated ** *** ********* ** **** technology, ************ ** *****-**** ****** *** various *** *****. ****** *** ********** was ******* *** ** ** ******* certainty ** *** ********* *** ******** about *** ** *** **. **'** had ** ******* **** ******** **** didn't ***** **** *** *********. ** aim ** ** ********** *** *** responsible *** ** ********** *** ****, and ****** *** **** ********** ** a *** **** ** **** **********.
iLOQ ***********
*** ******* ********** ****'* ********* ** the *******, ************ *** *******-**** **********, but ********* ********** ** *********** ***** into ****** ******** ******* *** ******* on ******-****** *******, ********* ******* *** EPDs(************* ******* ************), ***** ************* *** ********** *** benefits ** *********** ** *** ********* U.S. ******.
** *** *******, **** ** *** leading ******, ************* ************* **. ***** expansion ** **********. ***** ** ******* with **** ** **** ********, ** acknowledge *** ******* ***** ***** ***********, especially ***** *******-**** **********. *******, **** it ***** ** ******** ********** *** buildings, *** *********** ***** **** ****** security **********, ** ******** **** **********. Our ***** ** ******-****** ******* ** a ***** ** ***********. **'** ********* to ***** ***** **** **** **** year *** ****** **** *** ********* without. ************** ** ******* ** *** approach, *** ** **** ***** ******* for ****'* *********. *** *.*. ********* is *********** *** *** ******** *******, as ** ********* *********** ** *** initial **** ** *** *****. *******, the *.*. ****** *** *** ********, as **** *********, *** **** *********** now, ** ** ***** ** **** daunting *** *** ********. *********** ***** us *****, ********** ********, *** ****** challenges. **'* ***** ************* *** ********* our ********* ** ******** ** **** competition.
****: **** **** ******* ** **** company ******* ***** ** ** ********* with *** ** ******* *******.
Primary *********** ********** ***
******* *********** **** ***** ********** **** manufacturers, **** **** *** **** ***** remains *** *********** ********** ***, *********** the ******* ***** ** *********** ************ security *********.
* ***** ***** **** ** **** focus *** ******* ********** *** **, by ***, ********* ** ** *** mechanical ***.
@****, * ******* *** ***** ****** (Salas) *****.
***** ** *** **** ***** ** IPVM, **’* * ***** ******* **** does **** **** ***** *** ******* it’s * ***** *******.
****** *** ***** ***** ** ** access ******* *******, *** **** ********** with ***** ******** ******.
*** ****** ******* ***** **** ********* with ********** *** ***** ** *********, but **’* ******** * ******* **** Salto *****’* **** ** *********** ** support *******; * *** **** ** going *** **** ***.
** ***** ************* *** *********** **** currently ********* **** ***** *** ******, will **** ** ***** **** ***** is ***** *** ***** ***********.
**** ***** ***** ** **** *** quietly ************* ** ** ****** ** a *** ***** ********, ***** ** more ***** ****** *** ************.
***** *** ******** ** ***** ** the * ******, ****** **** *** custom ******** *** *****
***** *******. **** *** **** * would ****. *** ***** ** *** DAC ******. ** ** ******** **** and ** ********* ** ******* (*), Austria (*), *** *********** (**). ** German, ******* ** *********** *** *********** becomes ** ***** ****** *** ************* Helvetica, ******* ***** *************.