Safes and Vaults Market by Type (Cash Management Safes, Depository Safes, Gun Safes and Vaults, Vault and Vault Doors, Media Safes, and Others) and End User (Banking Sector and Non-Banking Sector) - Global Opportunity Analysis and Industry Forecast, 2016-2023
Safes and vaults are secure storage systems where valuable items such as money, documents, records, and others are stored. It is intended to protect the contents from unauthorized use, theft, natural disasters, fire, and others. They are the metal boxes made up of thick metals making it difficult to break them by force or to protect them from fire breakouts. Also, they have passcodes, numerical pins, or passwords to open them. 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 safes and vaults market is expected to experience significant growth during the forecast period, owing to technological innovation in product offerings, rise in adoption for retail industry, increase in application areas among end users, increased crime rates, and heavy venture capital investments in R&D activities to develop solutions with enhanced capabilities. Moreover, constant need to improve infrastructural security fuels the demand for safes and vaults products. In addition, increase in adoption of smart cities is expected to boost the safes and vaults market growth in the coming years. However, adoption of digital transaction solutions hinders the safes and vaults market growth.
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. Based on end user, it is classified into banking sector and non-banking sector. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the safes and vaults market are 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.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global safes and vaults market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
Current and future trends adopted by the key market players are highlighted to determine overall competitiveness.
The quantitative analysis of the safes and vaults market growth from 2017 to 2023 is provided to elaborate the market potential.
Key Market Segments
Cash Management Safes
Gun safes and vaults
Vault and vault doors
By End User
Rest of Europe
Rest of Asia-Pacific
Key Players Profiled in the Report
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.
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