Safes and Vaults Market Overview:
Safes and Vaults Market are integrated security products developed to facilitate the safety of valuable assets in case of high-risk situations. These products establish a technologically secure environment that helps in the protection of monetary assets, arms and ammunition, documents, critical records, media files, and others during variety of circumstances such as fire situation, toxic incident, extreme weather condition, theft, burglary, robbery, intrusion, and others.
The safes and vaults market is influenced by the rise in demand for technologically advanced products, increase in need for highly advanced infrastructural security needs and increased crime situations.
The global safes and vaults market is segmented based on type, end user, and geography. By type, the market is divided into cash management safes, depository safes, gun safes and vaults, vault and vault doors, media safes, and others. On the basis of end user, it is bifurcated into banking sector and non-banking sector. Based on geography, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The Global Safes and Vaults Market
The Global Safes and Vaults Market Segmentation
The global safes and vaults market was valued at $4,727 million in 2016, and is projected to reach $6,907 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023. The major factors that drive the safes and vaults market growth are technological innovation in product offerings, rise in adoption for retail industry, increase in application areas among end users, and heavy venture capital investments in R&D activities to develop products with enhanced capabilities.
The Europe safes and vaults market generated the highest revenue in 2016, attributed to rise in demand for advanced products and growth associated with non-banking sector is expected to stimulate end users to enhance their safety needs. The Asia-Pacific safes and vaults market is expected to grow at the highest CAGR, owing to the presence of untapped demands and surge in need for better security products.
The Global Safes and Vaults Market By Type
The key players operating in the global safes and vaults industry include American Security Products Co., Godrej & Boyce Manufacturing Co. Limited., Diebold Nixdorf, Incorporated., dormakaba, Gunnebo Industries AB, Access Security Products Ltd., Alpha Safe & Vault, Inc., Acme Security Systems., BJARSTAL s.a.r.l., and Bode-Panzer GmbH, and others. These players have expanded their market presence by adopting various business strategies, such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.
The Global Safes and Vaults Market by End-user
Top Investment Pockets
The Asia-Pacific is the top investment pocket for the market owing to the factors such as increase in adoption of safes and vaults among end users and presence of untapped demands in the countries such as China, Japan, and Australia. LAMEA is projected to be the second-most lucrative segment owing to the factors such as economic growth in Central America and Latin America.
Top Impacting Factors
The global safes and vaults market is influenced by a number of factors including growth in perceived threat levels and increased security awareness, rise in need for advanced safety products, increased application areas, demand from developing economies, and others. These factors collectively provide opportunities for the market growth. However, each factor has its definite impact on the market.
- In-depth analysis of the market and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the market and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players in the global safes and vaults industry.
- Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided.
- Detailed analysis of the key players operating in the industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Safes and Vaults Market Key Segments:
- Cash Management Safes
- Depository Safes
- Gun safes and vaults
- Vault and vault doors
- Media Safes
By End User
- Banking Sector
- Non-Banking Sector
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
The key players profiled in the report are as follows:
- American Security Products Co.
- Godrej & Boyce Manufacturing Co. Limited.
- Diebold Nixdorf, Incorporated.
- Gunnebo Industries AB
- Access Security Products Ltd.
- Alpha Safe & Vault, Inc.
- Acme Security Systems.
- BJARSTAL s.a.r.l.
- Bode-Panzer GmbH