NEW YORK, April 11, 2023 /PRNewswire/ -- The global safes and vaults market size is estimated to grow by USD 1,616.54 million from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 5.74% during the forecast period. The market is driven by the increase in commercial bank branches. Urbanization is increasing globally due to population growth and the creation of employment and income opportunities in cities. Therefore, many banks are increasing their presence in urban areas. They are also opening branches in rural and suburban areas to cater to the population. Many bank branches also offer locker services to their customers. Hence, the growth of bank branches across the globe will boost the demand for safe deposit boxes and drive market growth during the forecast period. Discover some insights on market size historic period (2017 to 2021) and forecast 2023-2027 before buying the full report - Request a sample report

Global Safes and Vaults Market – Vendor analysis
The global safes and vaults market is fragmented, with the presence of several global as well as regional vendors. A strategy that market players commonly use is the introduction of novel and innovative products. Another strategy adopted by the market players is strategic partnerships and collaborations. Vendors in the market are entering into strategic partnerships with other market players to gain access to new technologies and expand their product portfolios. Market players are also investing heavily in marketing and promotional activities to increase their brand awareness and market share. They are leveraging social media platforms to connect with potential customers and promote their products. Thus, the above-mentioned factors will lead to intense competition in the global safes and vaults market during the forecast period.

• Acme Safe Co.: The company offers safes and vaults such as SuperFortress TRTL30X6 banking safe.

• ALPHA INDUSTRIES (PVT) LTD.: The company offers safes and vaults such as GSA class 5 modular vaults.

• American Rebel Holdings Inc.: The company offers safes and vaults such as 2-drawer security containers.

• American Security, BJARSTAL sarl: The company offers safes and vaults such as Freedom 20 gun safe.

• Blue Dot Safes Inc.

• Bode Panzer GmbH

• Brown Safe Manufacturing Inc.

• Bumilsafe Mfg. Co.

• CMI Safe Co.

• Diebold Nixdorf Inc.

• Godrej and Boyce Manufacturing Co. Ltd.

• Gunnebo AB

• Hayman Safe Co. Inc.

• INKAS Group of Companies

• Kumahira Co. Ltd.

• Falcon Safe Marketing Sdn Bhd

• Access Security Products Ltd.

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Global Safes and Vaults Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (banking and non-banking) and product (cash management safes, depository safes, vaults and vault doors, gun safes and vaults, and others).

• The market growth in the banking segment will be significant during the forecast period. The market is driven by the increasing number of commercial bank branches and ATMs across the globe. The increasing global population and the growing number of bank account holders globally are driving the number of bank branches and the installation of ATMs. These factors will increase the segment growth during the forecast period.

Geography Overview
By geography, the global safes and vaults market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global safes and vaults market.

• APAC will account for 36% of the market growth during the forecast period. Banks, financial institutions, and e-commerce businesses are concentrating on improving their operational networks in the region to accommodate the growing population. For instance, in India, there were 1.36% more commercial bank branches per 100,000 adults in 2020. The installation of ATMs in different areas has been prompted by bank expansions. Such factors will boost the growth of the regional market during the forecast period.

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Global Safes and Vaults Market – Market Dynamics

Key Trends - Automation in safes and vaults is an emerging trend in the market. To provide more security and convenience, manufacturers of safes and vaults are also incorporating automated solutions into their products. For instance, ICICI is leading in the adoption of automation in safes and vaults in the Indian banking industry. Through its robot-managed locker service, the bank has been providing smart vaults to its clients since December 2015. The technology reduces the need for human interaction when customers access their vaults or safes by using radio frequency identification (RFID) scanning and robotic arms to retrieve the lockers. This increases customer convenience. Thus, the adoption of such automation technologies will drive the demand for safes and vaults, which will boost the growth of the market during the period.

Major challenges - The high cost of safes and vaults and the low rate of repurchase are major challenges impeding the market growth. Manufacturing companies are incorporating cutting-edge technologies such as alarm systems, sophisticated locks, and surveillance systems in their products to increase the safety and security provided by safes and vaults. Moreover, safes and vaults have a much longer lifespan. This significantly lowers the likelihood that customers will make another purchase in a short period of time. Thus, such factors will hinder the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Safes and Vaults Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the safes and vaults market between 2023 and 2027

• Precise estimation of the size of the safes and vaults market size and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the safes and vaults market across APAC, Europe, North America, Middle East and Africa, and South America

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of safes and vaults market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global safes and vaults market 2017 - 2021

• 4.2 End-user Segment Analysis 2017 - 2021

• 4.3 Product Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by End-user

• 6.1 Market segments

• 6.2 Comparison by End-user

• 6.3 Banking - Market size and forecast 2022-2027

• 6.4 Non-banking - Market size and forecast 2022-2027

• 6.5 Market opportunity by End-user

7 Market Segmentation by Product

• 7.1 Market segments

• 7.2 Comparison by Product

• 7.3 Cash management safes - Market size and forecast 2022-2027

• 7.4 Depository safes - Market size and forecast 2022-2027

• 7.5 Vaults and vault doors - Market size and forecast 2022-2027

• 7.6 Gun safes and vaults - Market size and forecast 2022-2027

• 7.7 Others - Market size and forecast 2022-2027

• 7.8 Market opportunity by Product

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 North America - Market size and forecast 2022-2027

• 9.6 Middle East and Africa - Market size and forecast 2022-2027

• 9.7 South America - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 China - Market size and forecast 2022-2027

• 9.10 Germany - Market size and forecast 2022-2027

• 9.11 Japan - Market size and forecast 2022-2027

• 9.12 UK - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Access Security Products Ltd.

• 12.4 Acme Safe Co.

• 12.5 Alpha Safe and Vault Inc.

• 12.6 American Rebel Holdings Inc.

• 12.7 American Security

• 12.8 BJARSTAL sarl

• 12.9 Blue Dot Safes Inc.

• 12.10 Bode Panzer GmbH

• 12.11 Brown Safe Manufacturing Inc.

• 12.12 Diebold Nixdorf Inc.

• 12.13 Godrej and Boyce Manufacturing Co. Ltd.

• 12.14 Gunnebo AB

• 12.15 Hayman Safe Co. Inc.

• 12.16 INKAS Group of Companies

• 12.17 Kumahira Co. Ltd.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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