Technavio, a tech-focused market research firm, has published a new report on the global home electronics safe market, which is expected to experience a significant growth rate with a CAGR of close to 5% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global home electronics safe market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global home electronics safe market into the following key regions: APAC, the Americas, and EMEA.
Geographical segmentation of the global home electronics safe market for 2015 (market share%)
|
APAC |
59.85% |
|
Americas |
23.26% |
|
EMEA |
16.89% |
Source: Technavio
APAC: Largest revenue generating region for home electronics safe
APAC accounted for almost 60% of the overall market space in 2015 to become the largest revenue generating region of the global market. The market in APAC is flourishing owing to the increased demand for home electronics safes from India, China, Australia. South Korea, New Zealand, and other Southeast Asian countries are other regions within APAC registering positive growth. China stands as the leading market for home electronic safes at a global level due to relatively high safety and security concerns among the consumers.
According to Brijesh Kumar Choubey, a lead analyst at Technavio for research on general retail goods and services, “Upcoming residential construction projects in highly populated APAC countries creates scope for vendors operating in the home electronics space to market their products through low-cost offerings. Urbanization is also adding to the demand for home electronics safes in the market in APAC. Companies have even started employing specialized personnel who act as consultants to educate customers about the technologies used in their products and solutions, and also help to train distributors.”
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Home electronics safe market in the Americas
The Americas occupied more than 23% of the overall market space and is expected to account for more than $116 million by 2020. The growth of the home electronics safe market in the Americas is fueled fundamentally by the demand from developed countries such as the US and Canada. The demand in the developed markets stems from the high adoption of guns. Furthermore, the consumer base in the region is comprised primarily of HNWIs.
Also contributing to the demand for home electronics safe are the developing markets in countries such as Mexico and Brazil. The home electronics safe market in the Americas is expected to post a CAGR of around 4% between 2016 and 2020.
Home electronics safe market in EMEA
In 2015, EMEA contributed to almost 17% of the world’s home electronics safe supply. The upsurge in the demand for home electronics was spurred primarily by the Eurozone crisis. During the crisis, many consumers in the region withdrew cash and other valuables from banks and kept them in their houses, thereby augmenting the demand for safes in their homes. The demand for home electronic safes is also growing in the Middle Eastern countries, as the population in these countries generally spend substantial amounts on jewelry and other valuables. The South African market stands as one of the most important markets for gun safes at a global level. By the end of the forecast period, the home electronics safe market in EMEA is expected to post a revenue of almost $83 million.
The top leading vendors operating in the home electronics safe market are:
- Assa Abloy
- AMSEC
- Diebold
- Godrej & Boyce
- Gunnebo
- Kaba group
Other prominent vendors in the market include Access Security Products, ACME Security Inc, Alpha Safe & Vault, Bjarstal, Bode-Panzer, Bordogna Group, Bricard, Brown Safe Manufacturing, Bumil Safe Manufacturing, Cannon Safe, Citysafe, CompX International, Fire King, Firelock Fireproof Modular Vaults, Format Tresorbau, Gardall Safe, Hall’s Safe, Hamilton Safe, Joli Safe, Juwel, Kale Celik Esya, Phoenix Safe, Securifort, Stark Safes, and Technomax.
A more detailed analysis is available in the Technavio report tilted, ‘Global Home Electronics Safe Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Smart Home Market 2016-2020
- Global Electronic Home Video Market 2016-2020
- Global Electronic Massager Market 2016-2020
- Consumer Electronics and Appliances Market in Indonesia 2016-2020
- Global Home Security System Market 2015-2019
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