Security

Exploring iLoq Financials & the Mechatronic Lock Market

Broadly categorized, electronic access control systems, digital cylinders, and mechatronic locks are the leading technologies vying for a share of the immense market represented by the upgrading of traditional mechanical locks. In this research note, we explore the European vendor iLoq and mechatronic locks in general, which are locks that conform to one of the main five mechanical cylinder standards and that combine the physical insertion or turning of a key but with the addition of electronic identification of that key.  Mechatronic locks emerged to bridge the gap between traditional mechanical locks and electronic access control systems with a range of features that brought down cost while improving usability and maintaining security. The cylindrical format makes for easy retrofit installations, and these self-powered devices do not require the costly and disruptive cabling infrastructure of modern access control systems. Digital authentication and re-programmable keys then provide additional flexibility and control, while the access data trail and […]

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