Global Safes and Vaults Market 2018-2022| Increasing Technology Advances to Drive Growth| Technavio
LONDON--(BUSINESS WIRE)--Sep 4, 2018-- market research analysts forecast the global safes and vaults market to grow at a CAGR of over 6% during the forecast period.
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Technavio has published a new market research report on the global safes and vaults market from 2018-2022. (Graphic: Business Wire)
The rise in technological advancements with respect to safes and vaults is one of the major trends being witnessed in the . The need for the safe storage of valuable materials has increased in the recent years and this is inducing vendors to focus on introducing innovative solutions such as digital safes, biometric safes, and fire-resistant safes.
According to Technavio’s analysts, one of the key factors contributing to the growth of the global safes and vaults market is the increasing demand for gun safes and vaults.
Global safes and vaults market: Increasing demand for gun safes and vaults
Gun safes have been gaining popularity due to their ability to prevent unauthorized usage of guns through theft protection. These safes are also used for the protection of guns and ammunition from natural calamities. The vendors in this market are providing advanced features such as digital locks, fingerprint identification, and moisture and heat protection.
According to a senior research analyst at Technavio, “The increasing burglaries and thefts at licensed gun stores have led to several gun store owners taking precautionary steps to ramp up security at their stores. The theft of firearms from cars has also been increasing significantly. This is propelling gun owners to install gun safes and vaults.”
Global safes and vaults market: Segmentation analysis
This global safes and vaults market research report provides market segmentation by product (cash management safes, gun safes and vaults, depository safes, and vault and vault doors), by end-user (banking and non-banking), and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major products, the cash management safes segment held the largest market share in 2017, accounting for almost 25% of the market. This product segment will dominate the global market throughout the forecast period.
EMEA held the largest share of the market in 2017, accounting for more than 39% share. It was followed by APAC and the Americas respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 09/04/2018 03:34 PM/DISC: 09/04/2018 03:34 PM