Global Domestic Safety Locker Market 2017-2021

Overview of the domestic safety locker market

Extensive research carried out by the analysts at Technavio has shown that the global domestic safety locker market will witness steady growth and will post a CAGR of more than 4% during the forecast period. Several vendors in the market are increasingly focussing on the development of safety lockers with dual-lock options. The introduction of new safety features for enhanced security is expected to propel the domestic safety locker market growth  over the coming years. Safety lockers with mechanical locks contain a series of pins and wheels to engage a metal bolt that passes through the door and a slot to close and open the door. In electronic safes, a digital keypad is used for engaging or releasing the bolt. However, these days, the majority of vendors are focusing on the introduction of electronic safety lockers with a key lock option to provide dual protection, which will drive the domestic safety locker market size over the next four years.

An increasing demand for fire-resistant products is one of the major domestic safety locker market trends gaining significant traction in the market. Some of the leading causes of fire in residences include arson, cooking, smoking, equipment malfunction, and natural causes. For example, in the US, cooking accounted for nearly 50% of all fire incidents in 2014. Fire accidents have led to increased demand for fire-resistant safety lockers by residential end users; however, the demand for such products was considerably higher in developed regions such as North America and Western Europe compared with the rest of the world because of the high awareness about fire-resistant safety lockers in developed regions.

Competitive landscape and key vendors

The global domestic safety locker market market is characterized by the presence of moderate competition among the vendors. A few global and branded vendors are dominating the market. To differentiate their products from those of competitors, vendors are focusing on product technology, aesthetic appeal, and add-on features that provide additional safety.

Key vendors in this market are -

• AMSEC
• Godrej & Boyce
• Gunnebo Group

Other prominent vendors in the market are Access Security Products, Ample Electro-Mechanic, BordognaGroup, Brown Safe Manufacturing, Bumil Safe, Cannon Safe, CISA, and FireKing Security Group.

Segmentation by product type and analysis of the domestic safety locker market

• Electronic safety lockers
• Non-electronic safety lockers

In terms of revenue, the electronic safety lockers segment led the global domestic safety locker market during 2016 and will continue to lead the market in the coming years. Electronic safety locks have advanced safety features that translates into higher overall sales of these lockers. Moreover, new technological advances and better security and convenience features are driving consumers to shift from non-electrical safety lockers to electric safety lockers.

Geographical segmentation and analysis of the domestic safety locker market

• Americas
• APAC
• EMEA

In terms of geography, the Americas dominated the global domestic safety locker market owing to an increase in the number of thefts in the region. The home electronic safety locker market in the Americas is growing primarily due to the demand from developed countries such as the US and Canada. The number of burglary cases are on the rise in the US and over 30,000 burglaries are reported every year, of which more than 65% are targeted toward houses, especially those without adequate security systems. To keep valuable safe, most residences are opting for domestic safety lockers in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global domestic safety locker market market?
• What are the key market trends impacting the growth of the global domestic safety locker market market?
• What are the challenges to market growth?
• Who are the key vendors in the global domestic safety locker market market?
• What are the market opportunities and threats faced by the vendors in the global domestic safety locker market market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global domestic safety locker market market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Home Electronics Safe Market 2016-2020
• Global Connected Home Security System Market 2016-2020
• Global Residential Security Systems Market 2016-2020