Global Safes and Vaults Market: Rising Demand from Banking Sector to Boost Growth
MarketResearchReports.Biz presents this most up-to-date research on ” Global Safes and Vaults Market: Rising Demand from Banking Sector to Boost Growth “
MarketResearchReports.biz has added a new report, titled ‘Global Safes And Vaults Market 2016-2020,’ to their offering. This report presents estimates on the size of the market in terms of value and volume and encapsulates an in-depth review on the key drivers, challenges, trends, and opportunities in the market. The prime technological advancements taking place and their respective impact on the development of this market have also been presented. All the major segments of the market for safes and vaults have been thoroughly reviewed and their growth prospects by the end of the forecast period have also been provided.
The first section of the report presents the market introduction and throws light on the definition of safes and vaults, the current size of the market, and its predicted size by the end of the forecast period. As per the report, the global safes and vaults market is poised to expand at a 5.52% CAGR from 2016 to 2020. Safes and vaults refer to storage systems employed to protect valuables from burglars, fire, and other such risks. Safes are built into walls, while vaults are usually free-standing safe rooms. The increasing crime rates and the growing affluent population globally have increased the need for safes and vaults. With the increasing advancement in technology, safes and vaults are also being electronically integrated to create smart systems.
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The segmentation of the market comes next in this report. On the basis of product, the report segments the safes and vaults market into gun safes and vaults, cash management safes, depository safes, media safes, and vault and vault doors. Amongst these, in 2015, the segment of cash management safes constituted a share of approximately 23% in the market. These safes are employed extensively within cash-intensive environments by transit operators, banks, and retailers.
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In the following section of the report, the geographical segmentation of the market for safes and vaults has been elaborated upon. In terms of geography, the market is classified into Europe, Asia Pacific (APAC), and the Americas. At present, the regional market of APAC holds the largest share in the global safes and vaults market and is poised to generate revenue of more than US$1 bn by the end of 2020. This is owing to the increasing adoption of safes and vaults by public administration bodies, individuals, and banks within Australia and numerous Southeast Asian nations.
Moving further, the key drivers, restraints, and trends in the market have been elaborated upon. The rising demand from the banking sector is a chief factor providing impetus to the global safes and vaults market. In addition, the increasing incomes of people and the increasing investments in valuables will also augment the growth of this market. Furthermore, the growing demand for safes featuring biometric technology will also positively impact the development of the safes and vaults market.
The competitive landscape section comes next in the report. This section highlights the chief vendors operating in this market. Some of these vendors are American Security Products Co., Godrej & Boyce, Diebold, Kaba Group, Gunnebo, ACME Security Inc., Access Security Products, and Alpha Safe & Vault, among others.
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