About Safes and Vaults
The global Safes and Vaults market is expected to grow in the forecasted period due to the rise in demand for technologically advanced products and increased crime situations. safe and vaults are safes and storage cabinets for the home or office, as well as secure enclosures, deposit and ATM safes, vaults, vault doors, and safe deposit lockers, all independently certified to guarantee protection against burglary, fire or explosives. Increasing demand for advanced products and growth associated with the non-banking sector is expected to stimulate end-users to enhance their safety needs. The high demand for secure lockers owing to the presence of untapped demands and surge in need of better security products. and The rising popularity of handgun and pistol vaults, Growing used of parcel lockers in the e-commerce industry. these are key drivers of the global market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.0% |
The global safes and vaults market is fragmented owing to the presence of several safes and vaults key players who leverage advanced technologies to offer smart safe solutions. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Safes and Vaults market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
American Security Products Co. (United States), Godrej & Boyce Manufacturing Co. Limited. (India), Dormakaba (Switzerland), Gunnebo Industries AB (Sweden), Diebold Nixdorf, Incorporated. (United States), Acme Security Systems (United States), Access Security Products Ltd. (United Kingdom), Alpha Safe & Vault, Inc. (United States), Bode-Panzer GmbH (Germany) and BJARSTAL s.a.r.l. (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Gardall Safe Corporation (United States), Bordogna S.r.l (Italy) and Allied Fire & Security (United States).
Segmentation Overview
AMA Research has segmented the market of Global Safes and Vaults market by Type (Electronic Type, Fingerprint Type and Mechanical Type), Application (Commercial and Residential) and Region.
On the basis of geography, the market of Safes and Vaults has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2022. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Functions, the sub-segment i.e. Cash Management Safes will boost the Safes and Vaults market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Banking Sector will boost the Safes and Vaults market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Government Regulations Triggers Innovations in Data Vaults, Growing Demand for Biometric Safes and Vaults and Growth in Application Areas among End-Users
Market Growth Drivers:
High Adoption from Non-Banking Safes, Growing ATM Deployments Drive Strong Growth in Demand for Cash Safes and Increasing Popularity of Smart Safes in Retail Outlets
Challenges:
Digitalization of Documents and Cashless Transactions
Restraints:
The Growing Concern Regarding Increased Cost of Safes and Vaults Annually and The Safty and Security Concerns
Opportunities:
High Demand for Highly Advanced Infrastructural Security Needs and Heavy Venture Capital Investments in R&D Activities to Develop Products with Enhanced Capabilities
Market Leaders and their expansionary development strategies
In October 2023, Gunnebo acquired the high security locking manufacturer tecnosicurezza, a manufacturer of electronic locking system for safes, vaults and ATM's.
In August 2023, A fog emitting tech offers extra layer of protection to vaults, Godrej security solution has introduced two products matrix locker and smart fog, termed anti intruder products.
Key Target Audience
Safes and Vaults Manufactures, Safes and Vaults Distributors, Safes and Vaults Suppliers, Government & Industry Associations, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.