Security

Mapping the Strategic Direction of Allegion in the Smart Building & PropTech Space

Spun off from Ingersoll Rand in 2013, Allegion (NYSE: ALLE) has become an established player in the physical security industry for commercial and residential building markets around the world. In this research note, we map the key acquisitions, partnerships, and investments made by Allegion in the past six years to reveal the firm’s strategic priorities and forecast its future development within the PropTech landscape. The firm is one of the leaders in the access and mechanical lock segments, where it faces stiff competition from Assa Abloy AB and dormakaba Group. All three firms now place significant focus on new digital product categories, where they also compete with tech companies and innovative startups entering the market from all angles. In its last annual report, released February 2022, Allegion reported net revenues of $2.87 billion, an increase of 5.4% compared with the previous year. The revenue increases were primarily driven by continued, strong end-market demand and COVID19 […]

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