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The India safes and vaults market size reached US$ 150.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 241.6 Million by 2027, exhibiting a growth rate (CAGR) of 7.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Safes and vaults are metal-framed, hollow cylinders that are used for safekeeping valuable commodities under high-risk conditions. These secure storage systems include specifications, like resistance to fire, water and chemicals, and protection against burglary, robbery, and unauthorized intrusions. Safes and vaults are impenetrable by external force and can be accessed through passcodes, passwords, biometric codes, and numerical pins. On account of these properties, they are majorly adopted in various residential and commercial sectors.
A significant rise in crime rates and increasing concerns regarding the safety of valuable assets are majorly driving the India safes and vaults market growth. Rising disposable incomes of consumers and the increasing construction of smart homes with upgraded security solutions are further propelling the market growth. Additionally, the escalating demand for technologically advanced product variants embedded with video monitoring systems, alarms, and fingerprint scanners is creating a positive outlook for the market. In line with this, the increasing utilization of safes and vaults in the healthcare sector to minimize drug burglaries and prescription-related thefts is acting as a growth-inducing factor in the country.
IMARC Group provides an analysis of the key trends in each sub-segment of the India safes and vaults market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on type, function type, application and end user.
Breakup by Type:
Breakup by Function Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Function Type, Application, End User, Region|
|Region Covered||North India, West and Central India, South India, East India|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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