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Safes and Vaults Market By Type (Cash Management Safes, Depository Safes, Gun Safes & Vaults, Vault & Vault Doors, Media Safes, and Others) and End User (Banking Sector and Non-Banking Sector): Global Opportunity Analysis and Industry Forecast, 2020–2027

A04006
Pages: 150
Mar 2021 | 10796 Views
 
Author(s) : Pramod Borasi, Monica Chhabra , Vineet Kumar
Tables: 43
Charts: 31
 

COVID-19

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Safes and Vaults Market Outlook - 2027

The global safes and vaults market size was valued at $5.82 billion in 2019, and is projected to reach $9.14 billion by 2027, growing at a CAGR of 8.1% from 2020 to 2027. Safes and vaults are secure storage systems wherein valuable items, such as money, documents, records, and others, can be stored. These are intended to protect the contents from unauthorized use, theft, natural disasters, fire, and others. They usually comprise metal boxes made up of thick metals, making it difficult to break them by force or to protect them from fire breakouts. In addition, these safes and vaults require passcodes, numerical pins, or passwords to open them. 

The COVID-19 outbreak had a negative impact on growth of the cash management safes market, owing to surge in inclination of consumers towards digital transaction solutions such as mobile wallets, prepaid cards, contactless payment, and others is expected to hamper the market growth during the pandemic situation.

Rising concerns with respect to the safety of valuable physical assets, growth in perceived threat levels, increase in retail and commercial banks, and rise in security awareness are the major factors that drive the growth of the global safes and vaults market. However, penetration of digital transaction solution hampers the safes and vaults market growth. On the contrary, growth of smart cities and new technological developments in the safe and vaults industry are expected to provide lucrative opportunity for the market expansion during the forecast period.

Safes-and-Vaults-Market,-2020-2027

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By type, the safes and vaults market was led by the cash management safes segment in 2019, and is projected to maintain its dominance during the forecast period. The adoption of cash management safes is on a continuous rise among end users, owing to the rapidly evolving infrastructure safety structure, increased application areas; increased number of cash-intensive environment facilities; increased acceptance of end-of-the-day deposit management solutions that facilitate reduction in time for counting money, cash touch points, administrative expenses; and enhanced protection from theft and armed robbery. 

However, the media safes segment is expected to grow at the highest rate during the safes and vaults market forecast period, owing to increased cyber-attack rate has created the need to store highly confidential data in offline form and rising demand from SMEs to store private data.

Region-wise, the safes and vaults market was dominated by North America in 2019, and is expected to retain its position during the forecast period. The major factor that drives the growth of the market in this region includes rising number of retail outlets. Retail outlets from the non-banking sector generate large amount of cash flow through small-dollar payments, which boosted the demand for smart safes to manage end-of-the-day deposits. 

However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increased adoption of cash management safes, technological advancements, and the presence of untapped potential in countries such as China, India, and Japan. Moreover, Gunnebo focuses on the Asia-Pacific region to increase its business as the region is expected to witness high growth for safety solutions. Therefore, these factors provide lucrative opportunities for the market expansion in this region.

The report focuses on the growth prospects, restraints, and trends of the global safes and vaults market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers.

Segment Review

The global safes and vaults market is segmented into type, end user, and region. In terms of type, the market is fragmented into cash management safes, depository safes, gun safes & vaults, vault & vault doors, media safes, and others. On the basis of end user, the market is categorized into banking sector and non-banking sector. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Safes and Vaults Market
By Type

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Media Safes segment will grow at a highest CAGR of 11.7% during 2020 - 2027

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Competitive Analysis

The key players operating in the global safes and vaults market include American Security Products Co., Alpha Safe & Vault, Inc., CARADONNA, Diebold Nixdorf Incorporated, Godrej & Boyce Manufacturing Co. Limited, Gunnebo AB, Kumahira Co., Ltd. ,KASO Safeguard Safes, and Shinjin Safes. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the safe and vault industry

COVID-19 Impact Analysis

The safes and vaults industry has recorded continuous investments for its developments and has become a massive contributor to the economic growth. However, this industry has been largely affected by the outbreak of the COVID-19 pandemic, leading to economic instability. In addition, it has been observed that increased uncertainty and liquidity crunch in economy influence various banks to shut down their vaults till the situation persists. 

However, factors, such as standardizing vaults & safes and quality control for financial institutes, banks, & many others, for safekeeping of important goods are expected to boost the replacement of old and outdated instruments, which indirectly increase the demand for better and quality safe in the market. In addition, the average Index of Industrial Production (IIP) percentage decreased by 5.6% in 2020 compared to 2019. While the average percentage of IIP from March 2020 to June 2020 decreased by 2.5%. Therefore, these factors display liquidity crunch in economy, which indirectly negatively impacts the safes and vaults industry. 

Safes and Vaults Market
By End User

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Non-Banking Sector segment holds dominant position throughout the forecast period

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Top Impacting Factors

Increased Market for Commercial Banks and Retail Industry

The growing rate of criminal offences has increased concerns among people and organizations to secure their valuable assets during such situations. Cash management safes have witnessed high demand from cash-intensive environments such as the retail industry. Developing economies of Asia-Pacific and LAMEA possess high potential for expansion of the retail industry, which is expected to drive the market growth during the forecast period. 

According to India Brand Equity Foundation, the retail industry in India is expected to reach $ 1.6 trillion by 2026. Further, the banking sector is growing at a high rate, which supports the adoption of the ATM market. According to ATM Benchmarking Study 2018 and Industry Report by Accenture, the installed base of ATM machines globally is expected to surpass 3.5 million units by 2023, which is expected to drive the demand for safes and vaults.

New Technological Developments in the Safes and Vaults Industry

Technologies, such as geo-location, alarms, video monitoring systems, seismic detectors, finger-print scanners, and auto-locking mechanisms, provide innovative opportunities for users in the market. With these technological developments, safes and vaults distribution platforms are expected to enhance productivity for providing coverage seamlessly at the point-of-purchase. Moreover, digital transformation enables safe and vaults companies to create highly personalized user experiences to their customers such as one drive. 

Further, to maintain market position, providers consider the use of big data analytics that offer possibilities of handling large amount of cash. In addition, technologies help in data collection, cater to customer specific needs, calculate risk, and detect fraud. Therefore, easy accessibility and convenient safe and vaults offerings by technological advancements are expected to provide lucrative opportunities for providers in the safes and vaults market.

Safes and Vaults Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 9.8% during 2020-2027.

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Key Benefits For Stakeholders 

  • The study provides an in-depth analysis of the global safes and vaults market size along with the current trends and future estimations to determine the imminent investment pockets.
  • Information about key drivers, restraints, & opportunities and their impact analysis on the global safes and vaults market share is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the global safes and vaults market trends from 2019 to 2027 is provided to determine the market potential.

Key Market Segments

By Type

  • Cash Management Safes
  • Depository Safes
  • Gun Safes & Vaults
  • Vault & Vault Doors
  • Media Safes
  • Others

By End User

  • Banking Sector
  • Non-Banking Sector

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Belgium
    • Rest of Europe
  • Asia-Pacific 
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East 
    • Africa

Key Market Players

  • American Security Products Co.            
  • Alpha Safe & Vault, Inc.
  • CARADONNA
  • Diebold Nixdorf Incorporated
  • Godrej & Boyce Manufacturing Co. Limited
  • Gunnebo AB 
  • Kumahira Co., Ltd. 
  • KASO
  • Safeguard Safes
  • Shinjin Safes 
 

CHAPTER 1: INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY MARKET SEGMENTS
1.3.KEY BENEFITS
1.4.RESEARCH METHODOLOGY

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO PERSPECTIVE

CHAPTER 3:MARKET LANDSCAPE

3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FINDINGS

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.PORTER'S FIVE FORCES ANALYSIS

3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers

3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2019
3.5.MARKET DYNAMICS

3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities

3.6.COVID-19 impact analysis on market

3.6.1.Impact on market size
3.6.2.Consumer trends, preferences, and budget impact
3.6.3.Economic impact
3.6.4.Strategies to tackle negative impact
3.6.5.Opportunity window

CHAPTER 4: SAFES AND VAULTS MARKET BY TYPE

4.1.OVERVIEW
4.2.CASH MANAGEMENT SAFES

4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region 
4.2.3.Market share analysis, by country

4.3.DEPOSITORY SAFES

4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region 
4.3.3.Market share analysis, by country

4.4.GUN SAFES AND VAULTS

4.4.1.Key market trends, growth factors and opportunities
4.4.2.Market size and forecast, by region 
4.4.3.Market share analysis, by country

4.5.VAULT AND VAULT DOORS

4.5.1.Key market trends, growth factors and opportunities
4.5.2.Market size and forecast, by region 
4.5.3.Market share analysis, by country

4.6.MEDIA SAFES

4.6.1.Key market trends, growth factors and opportunities
4.6.2.Market size and forecast, by region 
4.6.3.Market share analysis, by country

4.7.OTHERS

4.7.1.Key market trends, growth factors and opportunities
4.7.2.Market size and forecast, by region 
4.7.3.Market share analysis, by country

CHAPTER 5: SAFES AND VAULTS MARKET BY END USER

5.1.OVERVIEW
5.2.BANKING SECTOR

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region 
5.2.3.Market share analysis, by country

5.3.NON BANKING SECTOR

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region 
5.3.3.Market share analysis, by country

CHAPTER 6:SAFES AND VAULTS MARKET BY REGION

6.1.OVERVIEW
6.2.NORTH AMERICA

6.2.1.Key market trends and opportunities
6.2.2.Market size and forecast, by type
6.2.3.Market size and forecast, by end user
6.2.4.Market size and forecast, by Country
6.2.5.US

6.2.5.1.Market size and forecast, by type
6.2.5.2.Market size and forecast, by end user

6.2.6.Canada

6.2.6.1.Market size and forecast, by type
6.2.6.2.Market size and forecast, by end user

6.3.EUROPE

6.3.1.Key market trends and opportunities
6.3.2.Market size and forecast, by type
6.3.3.Market size and forecast, by end user
6.3.4.Market size and forecast, by Country
6.3.5.UK

6.3.5.1.Market size and forecast, by type
6.3.5.2.Market size and forecast, by end user

6.3.6.Germany

6.3.6.1.Market size and forecast, by type
6.3.6.2.Market size and forecast, by end user

6.3.7.France

6.3.7.1.Market size and forecast, by type
6.3.7.2.Market size and forecast, by end user

6.3.8.Italy

6.3.8.1.Market size and forecast, by type
6.3.8.2.Market size and forecast, by end user

6.3.9.Spain

6.3.9.1.Market size and forecast, by type
6.3.9.2.Market size and forecast, by end user

6.3.10.Netherlands

6.3.10.1.Market size and forecast, by type
6.3.10.2.Market size and forecast, by end user

6.3.11.Rest of Europe

6.3.11.1.Market size and forecast, by type
6.3.11.2.Market size and forecast, by end user

6.4.ASIA PACIFIC

6.4.1.Key market trends and opportunities
6.4.2.Market size and forecast, by type
6.4.3.Market size and forecast, by end user
6.4.4.Market size and forecast, by Country
6.4.5.China

6.4.5.1.Market size and forecast, by type
6.4.5.2.Market size and forecast, by end user

6.4.6.Japan

6.4.6.1.Market size and forecast, by type
6.4.6.2.Market size and forecast, by end user

6.4.7.India

6.4.7.1.Market size and forecast, by type
6.4.7.2.Market size and forecast, by end user

6.4.8.Australia

6.4.8.1.Market size and forecast, by type
6.4.8.2.Market size and forecast, by end user

6.4.9.South Korea

6.4.9.1.Market size and forecast, by type
6.4.9.2.Market size and forecast, by end user

6.4.10.Singapore

6.4.10.1.Market size and forecast, by type
6.4.10.2.Market size and forecast, by end user

6.4.11.Rest of Asia Pacific

6.4.11.1.Market size and forecast, by type
6.4.11.2.Market size and forecast, by end user

6.5.LAMEA

6.5.1.Key market trends and opportunities
6.5.2.Market size and forecast, by type
6.5.3.Market size and forecast, by end user
6.5.4.Market size and forecast, by Country
6.5.5.Latin America

6.5.5.1.Market size and forecast, by type
6.5.5.2.Market size and forecast, by end user

6.5.6.Middle East

6.5.6.1.Market size and forecast, by type
6.5.6.2.Market size and forecast, by end user

6.5.7.Africa

6.5.7.1.Market size and forecast, by type
6.5.7.2.Market size and forecast, by end user

CHAPTER 7:COMPANY PROFILES

7.1.AMERICAN SECURITY PRODUCTS CO

7.1.1.Company overview
7.1.2.Key Executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.Business performance
7.1.7.Key strategic moves and developments

7.2.ACCESS SECURITY PRODUCTS LTD

7.2.1.Company overview
7.2.2.Key Executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance
7.2.7.Key strategic moves and developments

7.3.ALPHA SAFE AND VAULT INC

7.3.1.Company overview
7.3.2.Key Executives
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.Business performance
7.3.7.Key strategic moves and developments

7.4.ACME SECURITY SYSTEMS

7.4.1.Company overview
7.4.2.Key Executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.Business performance
7.4.7.Key strategic moves and developments

7.5.BJARSTAL

7.5.1.Company overview
7.5.2.Key Executives
7.5.3.Company snapshot
7.5.4.Operating business segments
7.5.5.Product portfolio
7.5.6.Business performance
7.5.7.Key strategic moves and developments

7.6.BODE PANZER GMBH

7.6.1.Company overview
7.6.2.Key Executives
7.6.3.Company snapshot
7.6.4.Operating business segments
7.6.5.Product portfolio
7.6.6.Business performance
7.6.7.Key strategic moves and developments

7.7.DIEBOLD NIXDORF INCORPORATED

7.7.1.Company overview
7.7.2.Key Executives
7.7.3.Company snapshot
7.7.4.Operating business segments
7.7.5.Product portfolio
7.7.6.Business performance
7.7.7.Key strategic moves and developments

7.8.DORMAKABA

7.8.1.Company overview
7.8.2.Key Executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.Business performance
7.8.7.Key strategic moves and developments

7.9.GUNNEBO INDUSTRIES AB 

7.9.1.Company overview
7.9.2.Key Executives
7.9.3.Company snapshot
7.9.4.Operating business segments
7.9.5.Product portfolio
7.9.6.Business performance
7.9.7.Key strategic moves and developments

7.10.GODREJ AND BOYCE MANUFACTURING CO LIMITED

7.10.1.Company overview
7.10.2.Key Executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.Business performance
7.10.7.Key strategic moves and developments

LIST OF TABLES

TABLE 1.GLOBAL SAFES AND VAULTS  MARKET, BY TYPE 2019-2027 ($MILLION)
TABLE 2.SAFES AND VAULTS MARKET FOR CASH MANAGEMENT SAFES, BY REGION,  2019-2027 ($MILLION)
TABLE 3.SAFES AND VAULTS MARKET FOR DEPOSITORY SAFES, BY REGION,  2019-2027 ($MILLION)
TABLE 4.SAFES AND VAULTSMARKET FOR GUN SAFES AND VAULTS, BY REGION,  2019-2027 ($MILLION)
TABLE 5.SAFES AND VAULTS MARKET FOR VAULT AND VAULT DOORS, BY REGION,  2019-2027 ($MILLION)
TABLE 6.SAFES AND VAULTSMARKET FOR MEDIA SAFES, BY REGION,  2019-2027 ($MILLION)
TABLE 7.SAFES AND VAULTS  MARKET FOR OTHERS, BY REGION,  2019-2027 ($MILLION)
TABLE 8.GLOBAL SAFES AND VAULTS  MARKET, BY END USER 2019-2027 ($MILLION)
TABLE 9.SAFES AND VAULTS  MARKET FOR BANKING SECTOR, BY REGION,  2019-2027 ($MILLION)
TABLE 10.SAFES AND VAULTS  MARKET FOR NON BANKING SECTOR, BY REGION,  2019-2027 ($MILLION)
TABLE 11.SAFES AND VAULTS  MARKET FOR , BY REGION, , 2019-2027 ($MILLION)
TABLE 12.NORTH AMERICA SAFES AND VAULTS , BY TYPE 2019-2027 ($MILLION)
TABLE 13.NORTH AMERICA SAFES AND VAULTS , BY END USER 2019-2027 ($MILLION)
TABLE 14.NORTH AMERICA SAFES AND VAULTS , BY REGION,  2019-2027 ($MILLION)
TABLE 15.EUROPE SAFES AND VAULTS , BY TYPE 2019-2027 ($MILLION)
TABLE 16.EUROPE SAFES AND VAULTS , BY END USER 2019-2027 ($MILLION)
TABLE 17.EUROPE SAFES AND VAULTS , BY REGION,  2019-2027 ($MILLION)
TABLE 18.ASIA PACIFIC SAFES AND VAULTS , BY TYPE 2019-2027 ($MILLION)
TABLE 19.ASIA PACIFIC SAFES AND VAULTS , BY END USER 2019-2027 ($MILLION)
TABLE 20.ASIA PACIFIC SAFES AND VAULTS , BY REGION,  2019-2027 ($MILLION)
TABLE 21.LAMEA SAFES AND VAULTS , BY TYPE 2019-2027 ($MILLION)
TABLE 22.LAMEA SAFES AND VAULTS , BY END USER 2019-2027 ($MILLION)
TABLE 23.LAMEA SAFES AND VAULTS , BY REGION,  2019-2027 ($MILLION)
TABLE 24.AMERICAN SECURITY PRODUCTS CO: COMPANY SNAPSHOT
TABLE 25.AMERICAN SECURITY PRODUCTS CO: OPERATING SEGMENTS
TABLE 26.ACCESS SECURITY PRODUCTS LTD: COMPANY SNAPSHOT
TABLE 27.ACCESS SECURITY PRODUCTS LTD: OPERATING SEGMENTS
TABLE 28.ALPHA SAFE AND VAULT INC: COMPANY SNAPSHOT
TABLE 29.ALPHA SAFE AND VAULT INC: OPERATING SEGMENTS
TABLE 30.ACME SECURITY SYSTEMS: COMPANY SNAPSHOT
TABLE 31.ACME SECURITY SYSTEMS: OPERATING SEGMENTS
TABLE 32.BJARSTAL: COMPANY SNAPSHOT
TABLE 33.BJARSTAL: OPERATING SEGMENTS
TABLE 34.BODE PANZER GMBH: COMPANY SNAPSHOT
TABLE 35.BODE PANZER GMBH: OPERATING SEGMENTS
TABLE 36.DIEBOLD NIXDORF INCORPORATED: COMPANY SNAPSHOT
TABLE 37.DIEBOLD NIXDORF INCORPORATED: OPERATING SEGMENTS
TABLE 38.DORMAKABA: COMPANY SNAPSHOT
TABLE 39.DORMAKABA: OPERATING SEGMENTS
TABLE 40.GUNNEBO INDUSTRIES AB : COMPANY SNAPSHOT
TABLE 41.GUNNEBO INDUSTRIES AB : OPERATING SEGMENTS
TABLE 42.GODREJ AND BOYCE MANUFACTURING CO LIMITED: COMPANY SNAPSHOT
TABLE 43.GODREJ AND BOYCE MANUFACTURING CO LIMITED: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1.GLOBAL SAFES AND VAULTS  MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.SAFES AND VAULTS MARKET FOR CASH MANAGEMENT SAFES, 2019-2027 ($MILLION)
FIGURE 5.SAFES AND VAULTS MARKET FOR DEPOSITORY SAFES, 2019-2027 ($MILLION)
FIGURE 6.SAFES AND VAULTS MARKET FOR GUN SAFES AND VAULTS, 2019-2027 ($MILLION)
FIGURE 7.SAFES AND VAULTS MARKET FOR VAULT AND VAULT DOORS, 2019-2027 ($MILLION)
FIGURE 8.SAFES AND VAULTS MARKET FOR MEDIA SAFES, 2019-2027 ($MILLION)
FIGURE 9.SAFES AND VAULTS MARKET FOR OTHERS, 2019-2027 ($MILLION)
FIGURE 10.SAFES AND VAULTS MARKET FOR BANKING SECTOR, 2019-2027 ($MILLION)
FIGURE 11.SAFES AND VAULTS MARKET FOR NON BANKING SECTOR, 2019-2027 ($MILLION)
FIGURE 12.GLOBAL SAFES AND VAULTS , BY REGION,  2019 (%)
FIGURE 13.US SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 14.CANADA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 15.UK SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 16.GERMANY SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 17.FRANCE SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 18.ITALY SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 19.SPAIN SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 20.NETHERLANDS SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 21.REST OF EUROPE SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 22.CHINA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 23.JAPAN SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 24.INDIA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 25.AUSTRALIA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 26.SOUTH KOREA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 27.SINGAPORE SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 28.REST OF ASIA PACIFIC SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 29.LATIN AMERICA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 30.MIDDLE EAST SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)
FIGURE 31.AFRICA SAFES AND VAULTS  MARKET, 2019-2027 ($MILLION)

 
 

Safes and vaults are referred to as secured storage systems that offer protection to users against natural and man-made disasters. The safe and vaults market is driven by increased need to protect high value assets, availability of technologically advanced products, and increased crime rates. Advanced tactics used by criminals have initiated the demand for these products as normal safes are not capable to provide high level protection to rich businessmen, banks, government embassies, armories, and others. Vatican Secret Archives, Doomsday Seed Vault, Iron Mountain Vault, Fort Knox, and Federal Reserve Bank of New York are some of the most trusted and secure vaults in the world.

Safe and vault providers are looking forward to implementing advanced technologies, such as alarms, video monitoring systems, seismic detectors, finger-print scanners, and auto-locking mechanisms, to protect physical assets from unauthorized access. Moreover, the global safes and vaults market is expected to grow at a promising rate during the forecast period. Growth of the smart safes market, need for safe & protected banking, growth for businesses with cash-intensive environment, and increased demand for infrastructural and monetary security are some of the factors that supplement the market growth across various industry domains.

Safes and vaults protect infrastructure from losses associated with valuable assets. The growth of the retail sector is expected to drive the market growth. Furthermore, increase in economic strength of developing nations, such as China, India, Indonesia, Thailand, and others, is expected to provide lucrative opportunities to the market. North America is expected to dominate the market during the forecast period while emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.

 
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FREQUENTLY ASKED QUESTIONS?
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A. The Safes and Vaults Market is estimated to grow at a CAGR of 8.1% from 2020 to 2027.

A. The Safes and Vaults Market is projected to reach $9.14 billion by 2027.

A. To get the latest version of sample report

A. Factors such as rising concerns with respect to the safety of valuable physical assets, growth in perceived threat levels, increase in retail and commercial banks, and rise in security awareness drives the growth of the Safes and Vaults market

A. The key players profiled in the report include American Security Products Co., Access Security Products Ltd., Alpha Safe & Vault, Inc., Acme Security Systems, BJARSTAL, Bode-Panzer GmbH, Diebold Nixdorf Incorporated, Dormakaba, Gunnebo Industries AB, and Godrej & Boyce Manufacturing Co. Limited, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Safes and Vaults Market is segmented on the basis of type, end user, and region.

A. The key growth strategies of Safes and Vaults market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. Non-Banking sector Segment holds a dominant position throughout the forecast period.

A. Media Safes segment will grow at a highest CAGR of 11.7% during 2020 - 2027

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