Safes and Vaults Market Analysis, Global Size, Demand and Industry Trends 2022-2027

The latest report published by IMARC Group, titled "Safes and Vaults Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global safes and vaults market size reached US$ 4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.24 Billion by 2027, exhibiting a CAGR of 7.7% during 2022-2027.

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Safes and vaults are secure storage systems manufactured using thick metal panels that can secure and protect arms and ammunition, monetary assets, sensitive documents, medical files, and critical records. These containers are difficult to damage through high force, violence, strength, or external pressure and are hard to cut. As a result, they are primarily used for the safekeeping of valuable commodities in high-risk situations, such as exposure to fire, chemicals, and moisture, extreme weather conditions, burglary, theft, and other forms of intrusion and unauthorized access. Currently, they are available in a variety of sizes and shapes and are unlocked using passwords, numerical pins, or passcodes.

Market Trends and Drivers:

The increasing number of theft cases across the globe, supported by the rising concerns regarding the safety of valuable assets, represents one of the primary factors accelerating the safes and vaults market growth. In line with this, key manufacturers are heavily investing in advanced technologies to introduce new product variants with integrated video monitoring systems, fingerprint scanners, seismic detectors, and auto-locking mechanisms to eliminate the risk of unauthorized access and enhance security, which is favoring the market growth. Apart from this, the growing application of password-protected safes and vaults in healthcare institutions and pharmacists and the increasing consumer per capita income are creating a positive outlook for the market.

Safes and Vaults Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the safes and vaults market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Access Security Products Ltd.
• ADT Inc.
• Alpha Safe & Vault, Inc.
• American Security Products Co.
• BJARSTAL
• Bode-Panzer GmbH
• Diebold Nixdorf
• Dormakaba Holding AG
• Godrej & Boyce Mfg. Co. Ltd.
• Gunnebo Group

Key Market Segmentation:

The report has segmented the global safes and vaults market based on type, function type, application, end user and region.

Breakup by Type:

• Electronic
• Biometric
• Mechanical

Breakup by Function Type:

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

Breakup by Application:

• Residential
• Commercial

Breakup by End User:

• Banking Sector
• Non Banking Sector

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.