Rise in Security Concerns to Fuel Growth in the Global Safes and Vaults Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Safes and Vaults markets. The global market for Safes and Vaults is poised to reach US$5.7 billion by 2017. The growing need for sound security systems is one of the major factors expected to drive growth in the market. Improvement in economic scenario, resurgence in consumer spending, technological advancements, and integration of biometrics with security systems, are some of the other factors propelling growth in the Safes and Vaults market.

Safes and Vaults: A Global Strategic Business Report

Follow us on LinkedIn – Securing valuable physical assets such as printed business records and documents, cash, arms & ammunition, data storage devices and jewelry, has become a key concern for people from all walks of life, including the common man, employees, business owners, and building owners. Surging crime rate in most urban and private residential areas is increasingly necessitating high-level security arrangement, creating more opportunities for security equipment. Security systems have become a vital component in the safety & security plans of building owners and organizations across the globe. The security equipment market is expected to grow substantially in the near future, driven by improvement in economic scenario and subsequent resurgence in consumer spending on security products, particularly in developing countries.

Developing nations such as Asia, Latin America, Africa, and the Middle East, especially are expected to drive market acceptance of security products in the years to come. The outlook for the market is bright, as safety and security of valuable assets against possible thefts, vandalism, and in cases of natural disasters such as fire and floods will always remain vital. Crime in the form of theft and break-ins will always provide the need for securing vulnerable documents such as passports, personal identification number and passwords, money, jewelry, thus translating into a sound business case for safes and vaults.

While electronic security products remain the future of the security industry worldwide contributing significantly to the market’s overall growth, demand for mechanical security products will continue to remain stable given their lower cost structure and greater durability and reliability. Physical security products have and will continue to witness steady demand, more particularly in developing nations such as China and the Eastern European region. The manufacturing sector is likely to witness significant sales prospects for safes and vaults market in the near future. Increasing number of commercial banks and financial institutions stimulated sales of passive security equipment such as modular and cast vault rooms, vault doors, armored cabinets, and cabinet safes. Established standards, variety, reliability and multiple attachments are driving demand for safes market. Rapid expansion in building and residential units, particularly in developing nations is creating new opportunities in this space.

Several safe manufacturers are providing various high technology characteristics to safes and other security systems. Features include audio trial, time lock, and other electronic access control systems. Sophisticated electronic access control is the latest and most reliable technology for safe access. Passive equipment market has grown substantially over the years and is now a highly diversified and fragmented industry. The use of biometrics in home and office security systems has increased in the recent past. Increased usage of biometrics in every day application is predicted in the future. In the physical security market, biometrics is expected to play a major role in providing improved performance by restricting unauthorized access to a storage device.

Europe, led by advancements from developed Western European markets of Germany, France and the UK, dominates as the largest regional market worldwide, as stated by the new market research report on Safes and Vaults. In the Eastern European region, physical security products, particularly in the manufacturing and industrial sectors will continue to sustain steady demand. Asia-Pacific fueled by incessant demand from developing markets of China and India will drive home large gains at a strong CAGR of 4.3% through 2017. The robust growth potential can be attributed to several factors such as fast paced economic development, new business activities, emerging middle and upper classes, privatization of state-owned industries such as banking and most importantly, the presence of large relatively untapped private security markets.

Major players in the marketplace include Allied Fire & Security, Brown Safe Manufacturing Inc., Bumil Safe Mfg Co., Ltd., Diebold Inc., Firelock Fireproof Modular Vaults, FireKing Security Group, Format Tresorbau GmbH & Co., KG, Gardall Safe Corporation, Godrej & Boyce Mfg., Co., Ltd., Gunnebo AB, Chubb Safes Ltd., Fichet-Bauche SA, Kaba Holding AG, KASO Oy, Lampertz GmbH & Co., KG, Liberty Safe and Security Products Inc., Sentry Group, Inc., and Stark Safes Srl.

The research report titled “Safes and Vaults: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides sales estimates and projections in value (US$) terms for the years 2009 through 2017 across geographic markets including, US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Middle East and Latin America. Product segments analyzed include Safes and Vaults. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Safes_and_Vaults_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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