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The global safes and vaults market reached a value of US$ 4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.24 Billion by 2027, exhibiting at a CAGR of 7.7% 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 refer to secure storage systems that are used for safekeeping valuable commodities under high-risk situations. They are containers manufactured using thick metal panels that are hard to cut or damage by applying force or external pressure. They are primarily used for protection against exposure to fire, moisture and chemicals, extreme weather conditions, theft, burglary, robbery and other forms of intrusion and unauthorized access. They can secure and protect monetary assets, arms and ammunition, sensitive documents, critical records, medial files and other items. Safes and vaults are available in a wide variety of shapes and sizes and are usually opened through passwords, passcodes or numerical pins.
A significant increase in the crime rate and rising concerns regarding the safety of valuable assets among the masses are one of the key factors driving the growth of the market. In line with this, there is an increasing preference for safes and vaults that can be used for cash dispensing, storing media data, and laptops and are resistant to fire, shock and water. Furthermore, widespread product adoption by the healthcare industry is also driving the market growth. Pharmacists and healthcare institutions are increasingly utilizing password-protected safes and vaults to minimize prescription-related thefts and drug burglaries. Additionally, the increasing demand for technologically advanced variants that are integrated with alarms, video monitoring systems, seismic detectors, finger-print scanners and auto-locking mechanisms, is acting as another growth inducing factor. These systems aid in monitoring access to the safes and provide timely alerts in case of unauthorized access in the banking, non-banking and residential sectors.
IMARC Group provides an analysis of the key trends in each sub-segment of the global safes and vaults market, along with forecasts at the global, regional and country 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 with some of the key players being 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. and Gunnebo Group.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Function Type, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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. and Gunnebo Group|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: 2499
Five User License: 3499
Corporate License: 4499
|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)|
The global safes and vaults market was valued at US$ 4 Billion in 2021.
We expect the global safes and vaults market to exhibit a CAGR of 7.7% during 2022-2027.
The advent of various technological advancements, such as integration of alarms, video monitoring
systems, finger-print scanners, and auto-locking mechanisms, for timely alerts in case of unauthorized
access, is primarily catalyzing the global safes and vaults market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous manufacturing units and
disrupted supply chain for safes and vaults.
Based on the type, the global safes and vaults market has been segregated into electronic, biometric,
and mechanical. Currently, mechanical type accounts for the majority of the total market share.
Based on the function type, the global safes and vaults market can be bifurcated into cash management
safes, depository safes, gun safes and vaults, vaults and vault doors, media safes, and others. Among
these, cash management safes currently exhibit clear dominance in the market.
Based on the application, the global safes and vaults market has been divided into residential and
commercial, where commercial segment currently represents the largest market share.
Based on the end-user, the global safes and vaults market can be segmented into banking sector and
non-banking sector. Currently, the banking sector holds the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global safes and vaults market 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., and Gunnebo Group.
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