Global Safes and Vaults Market in Banking Sector 2017-2021

Overview of the global safes and vaults market in the banking sector

Market research analysts at Technavio predict that the global safes and vaults market in banking sector will grow steadily at a CAGR of more than 6% by 2021. The increase in deployment of multipurpose ATMs has resulted in the increase of depository safes. There is an increased need to serve the vast unbanked populations of India and China and a rising need to replace the existing ATM machines. This will increase the deployment of ATMs, which according to this market research and analysis is one of the primary factors fueling the growth of the safes and vaults market in the banking sector.

The introduction of smart vaults will be one of the key trends behind the growth of the safes and vaults market in the banking sector. Smart vaults are operated through robotic technology and this minimizes human intervention as they are equipped with intelligent security systems. The vault is secured by biometric authentication and debit card. The vaults have multi-level security check process that ensures full security and enables only the owner to open the locker. Smart vaults comprise of a comfortable locker room for complete privacy that the customers can gain access to by validating their identity.

Competitive landscape and key vendors

The safes and vaults market in the banking sector is intensely competitive and highly fragmented due to the presence of several established vendors who cater to the various geographic regions. The vendors in the market compete based on technology, pricing, and reliability. The advancements in technological innovations help vendors to increase efficiency and effectiveness of their product offerings. The safe manufacturers are offering improved and innovative product offerings and this will help them attain a competitive advantage over the competitors.

The leading vendors in the market are -

• ASSA ABLOY
• Diebold Nixdorf
• dormakaba
• Gunnebo

The other prominent vendors in the market are American Security, Brown Safe, FireKing Security Group, Gardex, Hayman Safe, Liberty Safe, Schwab Files, and SentrySafe.

Segmentation by product type and analysis of the safes and vaults market in the banking sector

• Cash management safes and vaults
• Depository vaults

Cash management primarily demand for safes and vaults due to the rising need from the cash-intensive environment and to eliminate incidences of theft. The hands-free software tracks the activities and informs the authorities in case of any unauthorized entry. Additionally, the increased demand from the cash in transit (CIT) companies and technological innovations are also contributing to the growth of this segment.

Geographical segmentation and analysis of the safes and vaults market in the banking sector

• Americas
• APAC
• EMEA

Owing to factors such as increasing investments in the banking industry, high crime rates, the presence of developed economies, high personal affluence, and well-established local production capabilities, EMEA will be the major revenue contributor to the safes and vaults market in the banking sector throughout the forecast period.

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 safes and vaults market in banking sector?
• What are the key market trends impacting the growth of the global safes and vaults market in banking sector?
• What are the challenges to market growth?
• Who are the key vendors in the global safes and vaults market in banking sector?
• What are the market opportunities and threats faced by the vendors in the global safes and vaults market in banking sector?
• 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 safes and vaults market in banking sector?

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

This upcoming industry research report on the global safes and vaults market in the banking sector offers key insights into the major trends and emerging market drivers influencing the growth of the transportation and logistics industry. Our collection of market research reports for the transportation and logistics industry follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like warehouse and storage.

To assess the accurate growth potential of this market and to identify potential opportunities, market research analysts at Technavio conduct an in-depth qualitative and quantitative research studies by analyzing factors such as market size, key vendors, industry profit, and economic trends. The upcoming report on the global safes and vaults market in banking sector provides data and insights with respect geographic region, product and technology type, and vendor-wise segmentation to assist the client in understanding the different existing segment and thus choose proper target market.

This market research report on the global safes and vaults market in banking sector also takes into account the growth of similar markets like safes and vaults market in Europe, which is anticipated to grow at a CAGR of close to 6% during the forecast period. To identify the potential competitors and gain insights into the competitive landscape of the market, the report also covers vendors such as Gunnebo, Hamilton safe, Diebold, Godrej & Boyce, Kaba, and Amsec.

The upcoming report on the global safes and vaults market in banking sector identifies other key aspects of business intelligence such as profit margins, new products, demand-supply patterns, distributions, as well as opportunities and challenges faced by the industry. It also presents insights into the rapidly changing competitive scenario to give clients a realistic picture of the forthcoming events within the transportation and logistics industry. Technavio also provides deep-dive market assessments into the sectors such as transportation and distribution, packaging, and tags and labels.

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