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Safes And Vaults Market Report 2023-2032: Future Outlook, Global Trend, Business Challenges And Major Players | Access Security Products, Alpha Safe & Vault, American Security Products, BJARSTAL, Bode-Panzer
Safes And Vaults Market
The Business Research Company's Safes And Vaults Global Market Report 2023 identifies increase in crime rate and concern as the major driver for the Safes And Vaults Market's growth in the forecast period. Rising cases of theft and burglaries are concerning the general population for the safety of their assets.
The global safes and vaults market size grew from $5.81 billion in 2022 to $6.28 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The safes and vaults market size is expected to grow to $8.25 billion in 2027 at a CAGR of 7.1%.
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Major competitors 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, and Safeguard Safes.
A key trend in the Safes And Vaults Market includes Fingerprint-based technologically advanced safes. 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.
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The Safes And Vaults Market is segmented -
By Type: Cash Management Safes, Depository Safes, Gun Safes & Vaults, Vault & Vault Doors, Media Safes, Other Types
By Application: Residential, Commercial
By Distribution Channel: Online, Offline
By End User: Banking Sector, Non-Banking Sector
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Safes And Vaults Market.
The Business Research Company's "Global Safes And Vaults Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Safes And Vaults Market Include:
1. Executive Summary
2. Safes and Vaults Market Characteristics
3. Safes and Vaults Market Trends And Strategies
4. Safes and Vaults Market - Macro Economic Scenario
5. Safes and Vaults Market Size And Growth
……
26. Africa Safes and Vaults Market
27. Safes and Vaults Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Safes and Vaults Market
29. Safes and Vaults Market Future Outlook and Potential Analysis
30. Appendix
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