Growing Need for Safekeeping of Assets to Drive the Global Safes and Vaults Market Through 2020, Says Technavio
By Business Wire News
By Business Wire News
This research report titled ‘Global Safes and Vaults Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global safes and vaults market into the following six major product types, of which the top three are discussed in detail below:
- Cash management safes
- Guns, safes and vaults
- Depository safes
- Vault and vault doors
- Media safes
- Other safes
Global cash management safes market
The global cash management safes market is expected to reach USD 878 million by 2020. Cash management safes are mainly used by cash in transit (CIT) operators, large retailers, and banks. These safes form an integral part of a cash-intensive environment. Both internal and external theft is eliminated in the process by reducing cash touch points. These safes are often integrated into software systems to keep track of the activities in these safes from a web-based device. According to Sharan Raj, a lead analyst at Technavio for warehouse and storage research, “These systems assist in viewing of the cash levels, save end-of-the-day audits, manage user accounts, and dispatch the operator’s notifications via emails.”
ATM safes are also a part of cash management safes. There are two types of ATM safes: the business hours safe and the 24 hours’ level 1 safe. As evident from the name, the business hours’ safes are made to store cash only during business hours and should be removed by the day end. The 24 hours’ level 1 safes are designed for continuous usage, and they weigh very high.
Global gun safes and vaults market
The global gun safes and vaults market is expected to reach USD 631 million by 2020. Gun safes and vaults are protective containers that limit the unauthorized access of firearms and ammunition and protect them from burglars and fire breakouts. “The growing adoption of gun safes is perpetrated by stringent arms possession laws of different countries,” says Sharan.
These safes have certain safety features such as increased fire temperature tolerance, smooth cam driven locking system with greater handle rotation, and premium door organizer features such as see-through pouches and zippered pockets. They also have mirrored walls for interior visibility, adjustable ball bearing hinges, and lock-out penalties if the lock combination is entered incorrectly.
Global depository safes market
The global depository safes market is expected to reach USD 453 million by 2020. These safes are mainly used by retailers, armored car companies, and restaurants. They are filled with through hoppers or drawers and are used for non-returnable deposits. They are made up of heavy-duty steel and have combinational locks fitted into them.
Electronic locks are also available, where they are protected by carburized hard plates. These safes are drawer equipped and integrated to anti-phishing devices to protect the contents enclosed in them.
The top vendors highlighted by Technavio’s research analysts in this report are:
- American Security Products
- Godrej & Boyce
- Kaba Group
Browse Related Reports:
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