Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The "Safes And Vaults Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global safes and vaults market is expected to grow from $5.33 billion in 2021 to $5.80 billion in 2022 at a compound annual growth rate (CAGR) of 8.87%. The safes and vaults market is expected to grow to $7.62 billion in 2026 at a compound annual growth rate (CAGR) of 7.03%.
The safes and vaults market consists of sales of safes and vaults by entities (organizations, sole traders, and partnerships) that refer to a secure storage system designed to store valuable assets such as money, jewels, valuable documents, and records. Safes and vaults are made up of thick and secure materials to provide protection from theft. Technologically advanced safes and vaults are present with various technology such as fingerprint access, fire-proof safe, flood-proof, and electronic safes.
The main types of safes and vaults include cash management safes, depository safes, gun safes & vaults, vault & vault doors, media safes, and others. The cash management safes refer to miniature banks, which is equipped with LCD screen and allows you to control machine and have a full audit trail capability.
These systems or devices can be programmed to track money movement from and to the safe. They are used in commercial and residential sectors, and they are sold through online and offline distribution channels. The end-users of safes and vaults include banking sector and non-banking sector.
North America was the largest region in the safes and vaults market in 2021. The regions covered in the safes and vaults market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The safes and vaults market research report is one of a series of new reports that provides safes and vaults market statistics, including safes and vaults industry global market size, regional shares, competitors with a safes and vaults market share, detailed safes and vaults market segments, market trends and opportunities, and any further data you may need to thrive in the safes and vaults industry. This safes and vaults market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increase in crime rate and concern about the safety of valuable assets are expected to propel the growth of the safes and vaults market. Rising cases of theft and burglaries are concerning the general population for the safety of their assets. For instance, in 2019, according to the crime report 2019 by the Indian government, offences against properties which included theft and burglaries rose by 6.5% to 8,54,618 cases between 2018 and 2019.
The majority of these cases were theft (6,75,916 cases) and burglaries (1,00,897 cases) which resulted in the loss of assets. The sudden growth in thefts of personal assets has forced people to invest in safes and vaults to protect their assets from any such misevent. Therefore, an increase in crime rate and concern about the safety of valuable assets are driving the growth of the safes and vaults market.
Fingerprint-based technologically advanced safes are a key trend in the safes and vault market. Fingerprint-based safes consist of a biometric fingerprint scanner, which scans and stores a detailed image of the fingerprint in encrypted digital format. Once the fingerprints are stored, the biometric scanner recognizes each user's fingerprint to provide safe and secured access to assets within the system.
For instance, in November 2021, Godrej Security Solutions launched INTELLI-ACCESS, a locker system for banking institutions as per Reserve Bank of India (RBI) guidelines. By lowering reliance on manual interventions, the high-tech safe deposit vaults give consumers the ease of keyless entry, eliminating counterfeiting and fraud. Thumbprint verification validates bio-signature, interactive networking authenticates the actual client, safe quick keyless access removes dangers of illegal access, and unlocking is simple with a smartcard or biometric access.
In August 2021, Monomoy Capital Partners, an American private investment firm, acquired Liberty Safe and Security Products for $147.5 million. This acquisition is expected to add to the growth of Monomoy Capital Partners as its business strategy is focused on expanding its presence in manufacturing, distribution and consumer products businesses. Liberty Safe and Security Products is a USA-based company involved in the manufacturing and distribution of residential and commercial safes.
The countries covered in the safes and vaults market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the safes and vaults market are Access Security Products
- Alpha Safe & Vault
- American Security Products
- BJARSTAL
- Bode-Panzer
- Diebold Nixdorf
- Godrej & Boyce
- Gunnebo Group
- American Security Products Co
- Acme Security Systems
- CARADONNA
- Kumahira Co.
- Ltd.
- KASO
- Shinjin Safes
- Safeguard Safes
Key Topics Covered:
1. Executive Summary
2. Safes and Vaults Market Characteristics
3. Safes and Vaults Market Trends And Strategies
4. Impact Of COVID-19 On Safes and Vaults
5. Safes and Vaults Market Size And Growth
5.1. Global Safes and Vaults Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Safes and Vaults Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Safes and Vaults Market Segmentation
6.1. Global Safes and Vaults Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Cash Management Safes
- Depository Safes
- Gun Safes & Vaults
- Vault & Vault Doors
- Media Safes
- Others
6.2. Global Safes and Vaults Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Residential
- Commercial
6.3. Global Safes and Vaults Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Online
- Offline
6.4. Global Safes and Vaults Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Banking Sector
- Non-Banking Sector
7. Safes and Vaults Market Regional And Country Analysis
7.1. Global Safes and Vaults Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Safes and Vaults Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/f8v5vi
