The report forecasts the global home electronics safe market to grow at a CAGR of 4.92% during the period 2016-2020.
Personalization and trending of retina detection feature will be a key trend for market growth. With low differentiating factor for electronic safes, vendors are coming up with different color options, styles, and designs to differentiate their product offerings. One of the major roadblocks faced by the vendors in this market is the uniformity maintained across all large and small players. This allows players to come up with new designs and colors. The Browning Pro Series has been designed specifically for home use. The safe comes in five colour variants such as black cherry to titanium metallic. In addition to color, manufacturers are offering safes with two drawer or four drawer options to suit the customer needs. To increase the level of personalization through technology, vendors offers the guest mode options. Also to enhance the level of security, manufacturers are introducing safes with retina scanner. This offers better safety option to the buyer.
According to the report, security concerns among consumers will be a key driver for market growth. With the improvement in living standards and availability of affordable home security systems, consumers from all income segments are investing on home security products. Consumers are making maximum use of digitization to increase the safety of their homes. Vendors can capitalize on this opportunity to introduce new product offerings to attend to the needs of today's customers. According to the Electronic Security Association, the average loss on a home with a home security system, is over $3,200, compared to over $5,300 for a home without any security installed.
Further, the report states that a challenge for the vendors of the global home safes market is their high total cost of ownership and high product useful life.
- Assa Abloy
- American Security Products
- Godrej & Boyce
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/zksts3/global_home
Research and Markets
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-home-electronics-safe-market---analysis-technologies--forecasts-to-2020---security-concerns-among-consumers-driving-growth---research-and-markets-300341862.html
SOURCE Research and Markets