The global safes and vaults market size is poised to grow by USD 2.09 billion during 2020-2024, according to a new report by Technavio, progressing at a CAGR of over 6% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global safes and vaults market 2020-2024. (Graphic: Business Wire)
Read the 154-page research report with TOC on “Safes and Vaults Market Analysis Report by Product (Cash management safes, Gun safes and vaults, Depository safes, Vaults and vault doors, and Others), End-User (Banking and Non-banking), and Geography (APAC, North America, South America, Europe, and MEA) 2020-2024.”
The market is driven by the increasing demand from healthcare industry. Also, the incorporation of advanced technologies in safes and vaults is anticipated to further boost the growth of the safes and vaults market.
The number of reported drug and medicine thefts has increased consistently over the last few years. An increase in prescription drug abuse is the primary reason for rising drug burglaries. Many of such burglary cases involve medical professionals who intend to sell the drugs in the black market. To avoid such thefts, drugs are stored in secure safes and vaults that are accessible only by authorized personnel. Governing bodies are also promoting safe drug storage and supply to avoid the illegal use of opioids. Thus, the demand for safes and vaults from healthcare industry is expected to increase substantially, which will drive the growth of the market during the forecast period.
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Major Five Safes and Vaults Companies:
Alpha Guardian
Alpha Guardian operates its business through three brands, namely Cannon, Stack-On, and GunVault. The company offers gun safes, home safes, and safes for commercial applications. In January 2019, the company announced to unveil its second generation GunVault lineup of safes at National Shooting Sports Foundation’s annual Shooting Hunting Outdoor Trade (SHOT) Show.
American Security Products Co.
American Security Products Co. has business operations under various segments, which include gun safes, burglary and fire safes, burglary safes, fire safes, smart safes, pharmacy safes, drop safes, and electronic locks. The company offers about 400 models of security safes including AmVaults, MAX15 Series, BF Security Safes, and AM Series safes.
BROWN SAFE MANUFACTURING INC.
Headquartered in the US, BROWN SAFE MANUFACTURING INC. offers guns safes, man safes, gem jewelry safes, vault doors, and safes for various applications.
Diebold Nixdorf Inc.
Diebold Nixdorf Inc. has business operations under three segments, which include Eurasia Banking, Americas Banking, and Retail. The company’s safes offering includes UL rated CashGard safes and UL rated MasterGard Elite composite safes.
dormakaba Holding AG
dormakaba Holding AG operates its business through various segments, which include Access Solutions AMER, Access Solutions APAC, Access Solutions DACH, Access Solutions EMEA, and Key & Wall Solutions. The company deals with the design and manufacturing of locks for various safes and vaults.
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Safes and Vaults End-User Outlook (Revenue, USD Million, 2020-2024)
- Banking
- Non-banking
Safes and Vaults Product Outlook (Revenue, USD Million, 2020-2024)
- Cash management safes
- Gun safes and vaults
- Depository safes
- Vaults and vault doors
- Others
Safes and vaults Regional Outlook (Revenue, USD Million, 2020-2024)
- APAC
- Europe
- North America
- MEA
- South America
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200108005450/en/