London, 20 March 2015 – Increased demand from the banking sector for better vaults has led to growth in the Global Safes and Vaults Market, which is expected to post a CAGR of 5.32 percent from 2015-2019, says research firm Technavio.
About the Report
According to the latest report by Technavio, there is a strong demand for safety vaults and locks from the banking sector for storage of valuable items, cash and documents.
“The demand for safety systems is on the rise, especially in developing regions where incomes are rising and people are depositing more assets in banks,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also draws attention towards digitization of safes and vaults. There has been a major shift in the adoption patterns of safes with increasing popularity of digital electronic safes and vaults as compared to manual key-operated ones.
“Digitized safes and vaults come with high-end features like motorized shooting bolts for extra protection, low battery indicators, non-volatile memory, digital locking mechanisms and password protected locking.”
Market Scope and Calculation of Market Size
The new Technavio report considers seven major segments of safes and vaults, including: Media safes, gun safes, floor and wall safes, cash management safes, depository safes, vaults and vault doors, and other safes.
Information Covered in the Report:
Key Safes and Vaults Vendors:
- American Security Products Co. (Amsec)
- Diebold Inc.
- Godrej & Boyce Manufacturing Co. Ltd.
- Kaba Group
Market Growth Drivers:
- Increased Demand from Banking Sector
- For a full detailed list, view our report.
Market Challenges:
- Fragmentation of Market
- For a full detailed list, view our report.
Market Trends:
- Digitization of Safes and Vaults
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
