Global Hotel Room Safes Market Overview:
People carry a wide range of expensive electronic devices in today's wired world, and they want a safe and secure place to store them and other valuables when they're not at home. Hotel Room Safes are multi-occupancy lockers developed to be used in hotels and resorts. Any new user can programme their personal code when opening or closing the safe. All hotel room safes have the unique feature of a master code that allows designated personnel to open the safe in an emergency or when the user/guest has left the safe locked after leaving the hotel. Providing guest room safes provides a competitive advantage by demonstrating reasonable care, reducing in-room theft, and removing suspicion from staff.
As per latest study released by AMA Research, the Global Hotel Room Safes market is expected to see growth rate of 4.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Advent of Smart Electronic Safe
Market Growth Drivers:
Increase in Travels due to Business Meeting and Leisure and Rising Theft Concerns
Challenges:
High Competition among Established Players and Fluctuations in Supply and Demand Share Due to Enforcement of Stringent Lockdown Measures
Restraints:
High Cost of Electronic Safe
Opportunities:
Rising Opportunities in Emerging Economics
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are Honeywell (United States), Godrej Group (India), Wayfair (United States), Assa Abloy (Sweden), Indel B (Italy), Minibar Systems (United States), SentrySafe (United States), Chubbsafes (Sweden), Safemark Systems, L.P. (United States) and Cennox (United States). Additionally, following companies can also be profiled that are part of our coverage like Gardall Safes (United States), Mesa Safe (United States) and Barska (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Hotel Room Safes market by 2030. Considering Market by Lock Type, the sub-segment i.e. Digital will boost the Hotel Room Safes market. Considering Market by Installation Type, the sub-segment i.e. Free-Standing will boost the Hotel Room Safes market. Considering Market by Distribution Channel, the sub-segment i.e. Online {Company Website, E-Commerce Website} will boost the Hotel Room Safes market. Considering Market by Width, the sub-segment i.e. 9.5 Inches will boost the Hotel Room Safes market.
Latest Market Insights:
In December 2021 Cennox had announced the acquisition of FireKing Safety and Security. Cennox will be able to access the traditional and smart safe manufacturing sectors, as well as expand its deployment and maintenance services to FireKing's 1,000+ clients, as a result of the acquisition.
In November 2023, Safemark, a leading provider of electronic safes for the hospitality industry, announced an exclusive partnership with Indel B to distribute their line of minibars in the US and Canada.
What Can be Explored with the Hotel Room Safes Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hotel Room Safes Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hotel Room Safes
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hotel Room Safes market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hotel Room Safes market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Room Safe Suppliers and Distributors, Raw Material Suppliers and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.