Expanding Banking Network in Developing Countries Drives the Global Safes and Vaults Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Safes and Vaults markets. Global market for Safes and Vaults is forecast to reach US$4.5 billion by 2020, driven by expanding banking network in developing economies and the rising need for asset protection in developed countries.

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Safes and Vaults: A Global Strategic Business Report

San Jose, California (PRWEB) May 27, 2014

– Safes and vaults, recognized as one of the oldest segments in the security market, represent physical security products that safeguard assets and documents from untoward incidents such as theft or fire. Security and safety are key concerns for people from all walks of life, including the government, common man, employees, business owners, and building owners. Rising concerns over crime in society represents a primary factor driving the business case for safes and vaults. Incremental technology development and ensuing product sophistication and fall in prices have additionally helped expand market demand over the years. The market has also benefited from the rising frequency of terrorist attacks, and the resultant increases in government expenditure on safety of vital documents.

The outlook for the safes and vault market remains optimistic as safety and security of valuable assets against possible thefts, vandalism, and loss due to natural disasters such as fire and floods will always remain vital. Safes and vaults market is expected to benefit from improving construction activity worldwide as security installations will continue to remain a key feature in modern housing constructions. Future growth will also be driven by spiraling ATM deployments as a result of expanding banking network in developing countries. ATMs employ small cash vaults in order to safely house cash before dispensing it. Increasing instances of crime and security threats in North America, Europe and the Middle East are driving demand for small concealable safes as well as other gun safes. Steep rise in consumption of digital media globally is expected to bode well for the digital media safes market. Given the susceptibility of digital media hardware to heat and humidity, digital media safes often incorporate extensive fireproofing and significant level of heat and water resistance facilitating safe backup of DVD discs, HDD or SSD drives.

Safe and vault design innovations that are expected to benefit market prospects in the near term include Internet Protocol (IP) enabled safes, biometric access control enabled safes and vaults, and safes that are integrated with advanced communication technologies that relay warnings against attempted intrusion. Sensor integration represents another important innovation that enhances the security of safes and prevents unauthorized access by raising an alarm when the safe unit is displaced.

As stated by the new market research report on Safes and Vaults, Asia-Pacific represents the largest market worldwide, followed by Europe. Developing countries in Asia-Pacific, Latin America and the Middle East are expected to drive market expansion over the next few years. Fast-paced economic development, robust business activity, 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 represent key growth drivers in these regions. Asia-Pacific, supported by China and India, ranks as the fastest growing market with a CAGR of 10.1% over the analysis period.

Key players covered in the report include Allied Fire & Security, Brown Safe Manufacturing Inc., Bumil Safe Mfg Co. Ltd., Corporate Safe Specialists, Diebold Inc., Firelock Fireproof Modular Vaults, FireKing Security Group, Format Tresorbau GmbH & Co. KG, Godrej & Boyce Mfg. Co. Ltd., Gunnebo AB, Kaba Holding AG, KASO Oy, Lampertz GmbH & Co Kg, Liberty Safe and Security Products Inc., Phoenix Safe, Sentry Group Inc., and Stark Safes Srl, among others.

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, growth drivers, regulations, challenges, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), the Middle East, and Latin America (Brazil and Rest of Latin America). Segments analyzed in the report include Safes, and Vaults.

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 1500+ 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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  • Raghu Gopal
    Global Industry Analysts Inc
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