The year 2021 was once again a year of continued growth. In addition to expanding to new geographical markets and new customer segments, it is worth noting that much of our growth comes from our core business and markets where we are already established. Our continued success in those markets is of vital importance to our business performance.
We are seeing positive growth and development across the board.”
Thomas Thörewik, CSO, iLOQ
Maintaining ability to serve while growing
The residential sector has been, and will continue to be, our bread and butter. We have continued to see growth in countries where we already have a strong market share, including the Nordics and Central Europe. There are no sales units underperforming, and we are seeing positive growth and development across the board. At the same time, we see a lot of untapped potential still in Central and Southern Europe.
But, with all the success we are seeing, it is important for us to stay humble and stay focused. To date, we have been able to meet all market demands with little to no delay. It is important we remain a partner that is easy and efficient to do business with if we want to stay on top of the game. Growth and technological advances cannot come at the expense of our ability to serve customers. Giving the best possible tools to our international partner network to utilize in their work is a part of executing on our strategy. This means the continuous development of our partner portal that serves our more than 1 000 partners worldwide.
Giving the best possible tools to our international partner network to utilize in their work is a part of executing on our strategy.”
Thomas Thörewik, CSO, iLOQ
iLOQ’s appeal to the residential sector
Our strong partner network has been one reason more and more residential companies are choosing iLOQ. Our minimal total cost of ownership is another. Our ability to provide a digital access management solution that is virtually maintenance-free across its entire lifecycle is still something that sets us apart from all our competitors. The fourth, and increasingly important factor is our ability to support, for example, residential companies, property owners and housing associations in their own sustainability journey.
Sustainability is a factor that every modern company already has to take into consideration.”
Thomas Thörewik, CSO, iLOQ
Sustainability is a factor that every modern company has to take into consideration. It is something that consumers and the market in general already demands of companies. And the residential and commercial building sector has reacted. For example, SBB in Sweden has made a commitment that at least 50% of all new building developments will be built out of wood for sustainability reasons. Coincidentally, they are also a great reference for us, as we have signed a comprehensive framework agreement with them to provide maintenance- and battery-free digital locking to many of their residential buildings across the country, to further improve their overall sustainability.
Growing customer sizes in all customer segments
SBB, which is one of the Nordics’ biggest property companies focused on social infrastructure and residential housing developments, is also a great representative case of the direction we see business developing. Our customers, and the reach of their operations, is growing all the time. This growth in customer size is happening in both built environments, such as residential and commercial buildings, but also in the utilities sector which we are targeting with our mobile S50 solution. Thanks to many strong references we are much more attractive and convincing today than we were five years ago.
Thanks to many strong references we are much more attractive and convincing today than we were five years ago.”
Thomas Thörewik, CSO, iLOQ
Bringing added value to demanding end users
Our technologies are also becoming more and more interesting and relevant to the final end users. We are even starting to see a pull effect being created by end users. With the launch of the iLOQ HOME solution, which is revolutionizing the user experience and boosting the added value that a digital access management solution can create for tenants in a building, we anticipate this strong pull to only increase. And, as the world has become more digital (and more remote during the past few years), we are even starting to see peaked interest in our S50 mobile access management solution in residential properties such as student housing.
With sustainable technologies, mobile keys and added-value services on your smart phone, we only expect this digital revolution to march steadily on. We are happy to be in the position to usher in this new era of smart living that extends far beyond just mechanical locks and keys. Today, we still have work ahead of us, but we are well on our way.