Safes and vaults market size to grow by USD 1,616.54 million from 2022 to 2027: Growth driven by the increase in commercial bank branches - Technavio

NEW YORK, April 11, 2023 /PRNewswire/ -- The global safes and vaults market size is estimated to grow by USD 1,616.54 million from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 5.74% during the forecast period. The market is driven by the increase in commercial bank branches. Urbanization is increasing globally due to population growth and the creation of employment and income opportunities in cities. Therefore, many banks are increasing their presence in urban areas. They are also opening branches in rural and suburban areas to cater to the population. Many bank branches also offer locker services to their customers. Hence, the growth of bank branches across the globe will boost the demand for safe deposit boxes and drive market growth during the forecast period. Discover some insights on market size historic period (2017 to 2021) and forecast 2023-2027 before buying the full report - Request a sample report

Global Safes and Vaults Market – Vendor analysis
The global safes and vaults market is fragmented, with the presence of several global as well as regional vendors. A strategy that market players commonly use is the introduction of novel and innovative products. Another strategy adopted by the market players is strategic partnerships and collaborations. Vendors in the market are entering into strategic partnerships with other market players to gain access to new technologies and expand their product portfolios. Market players are also investing heavily in marketing and promotional activities to increase their brand awareness and market share. They are leveraging social media platforms to connect with potential customers and promote their products. Thus, the above-mentioned factors will lead to intense competition in the global safes and vaults market during the forecast period.

• Acme Safe Co.: The company offers safes and vaults such as SuperFortress TRTL30X6 banking safe.
• ALPHA INDUSTRIES (PVT) LTD.: The company offers safes and vaults such as GSA class 5 modular vaults.
• American Rebel Holdings Inc.: The company offers safes and vaults such as 2-drawer security containers.
• American Security, BJARSTAL sarl: The company offers safes and vaults such as Freedom 20 gun safe.
• Blue Dot Safes Inc.
• Bode Panzer GmbH
• Brown Safe Manufacturing Inc.
• Bumilsafe Mfg. Co.
• CMI Safe Co.
• Diebold Nixdorf Inc.
• Godrej and Boyce Manufacturing Co. Ltd.
• Gunnebo AB
• Hayman Safe Co. Inc.
• INKAS Group of Companies
• Kumahira Co. Ltd.
• Falcon Safe Marketing Sdn Bhd
• Access Security Products Ltd. 

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Global Safes and Vaults Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (banking and non-banking) and product (cash management safes, depository safes, vaults and vault doors, gun safes and vaults, and others).

• The market growth in the banking segment will be significant during the forecast period. The market is driven by the increasing number of commercial bank branches and ATMs across the globe. The increasing global population and the growing number of bank account holders globally are driving the number of bank branches and the installation of ATMs. These factors will increase the segment growth during the forecast period.

Geography Overview
By geography, the global safes and vaults market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global safes and vaults market.

• APAC will account for 36% of the market growth during the forecast period. Banks, financial institutions, and e-commerce businesses are concentrating on improving their operational networks in the region to accommodate the growing population. For instance, in India, there were 1.36% more commercial bank branches per 100,000 adults in 2020. The installation of ATMs in different areas has been prompted by bank expansions. Such factors will boost the growth of the regional market during the forecast period.

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Global Safes and Vaults Market – Market Dynamics

Key Trends - Automation in safes and vaults is an emerging trend in the market. To provide more security and convenience, manufacturers of safes and vaults are also incorporating automated solutions into their products. For instance, ICICI is leading in the adoption of automation in safes and vaults in the Indian banking industry. Through its robot-managed locker service, the bank has been providing smart vaults to its clients since December 2015. The technology reduces the need for human interaction when customers access their vaults or safes by using radio frequency identification (RFID) scanning and robotic arms to retrieve the lockers. This increases customer convenience. Thus, the adoption of such automation technologies will drive the demand for safes and vaults, which will boost the growth of the market during the period.

Major challenges - The high cost of safes and vaults and the low rate of repurchase are major challenges impeding the market growth. Manufacturing companies are incorporating cutting-edge technologies such as alarm systems, sophisticated locks, and surveillance systems in their products to increase the safety and security provided by safes and vaults. Moreover, safes and vaults have a much longer lifespan. This significantly lowers the likelihood that customers will make another purchase in a short period of time. Thus, such factors will hinder the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Safes and Vaults Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the safes and vaults market between 2023 and 2027
• Precise estimation of the size of the safes and vaults market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the safes and vaults market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of safes and vaults market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global safes and vaults market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global safes and vaults market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Banking - Market size and forecast 2022-2027
• Exhibit 34: Chart on Banking - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Banking - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Banking - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Banking - Year-over-year growth 2022-2027 (%)

• 6.4 Non-banking - Market size and forecast 2022-2027
• Exhibit 38: Chart on Non-banking - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Non-banking - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Non-banking - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Non-banking - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ million)
• Exhibit 43: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Cash management safes - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Cash management safes - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Cash management safes - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Cash management safes - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Cash management safes - Year-over-year growth 2022-2027 (%)

• 7.4 Depository safes - Market size and forecast 2022-2027
• Exhibit 52: Chart on Depository safes - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Depository safes - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Depository safes - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Depository safes - Year-over-year growth 2022-2027 (%)

• 7.5 Vaults and vault doors - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Vaults and vault doors - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Vaults and vault doors - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Vaults and vault doors - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Vaults and vault doors - Year-over-year growth 2022-2027 (%)

• 7.6 Gun safes and vaults - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Gun safes and vaults - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Gun safes and vaults - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Gun safes and vaults - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Gun safes and vaults - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027
• Exhibit 64: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Product 
• Exhibit 68: Market opportunity by Product ($ million)
• Exhibit 69: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 111: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Access Security Products Ltd. 
• Exhibit 123: Access Security Products Ltd. - Overview
• Exhibit 124: Access Security Products Ltd. - Product / Service
• Exhibit 125: Access Security Products Ltd. - Key offerings

• 12.4 Acme Safe Co. 
• Exhibit 126: Acme Safe Co. - Overview
• Exhibit 127: Acme Safe Co. - Product / Service
• Exhibit 128: Acme Safe Co. - Key offerings

• 12.5 Alpha Safe and Vault Inc. 
• Exhibit 129: Alpha Safe and Vault Inc. - Overview
• Exhibit 130: Alpha Safe and Vault Inc. - Product / Service
• Exhibit 131: Alpha Safe and Vault Inc. - Key offerings

• 12.6 American Rebel Holdings Inc. 
• Exhibit 132: American Rebel Holdings Inc. - Overview
• Exhibit 133: American Rebel Holdings Inc. - Product / Service
• Exhibit 134: American Rebel Holdings Inc. - Key offerings

• 12.7 American Security 
• Exhibit 135: American Security - Overview
• Exhibit 136: American Security - Product / Service
• Exhibit 137: American Security - Key offerings

• 12.8 BJARSTAL sarl 
• Exhibit 138: BJARSTAL sarl - Overview
• Exhibit 139: BJARSTAL sarl - Product / Service
• Exhibit 140: BJARSTAL sarl - Key offerings

• 12.9 Blue Dot Safes Inc. 
• Exhibit 141: Blue Dot Safes Inc. - Overview
• Exhibit 142: Blue Dot Safes Inc. - Product / Service
• Exhibit 143: Blue Dot Safes Inc. - Key offerings

• 12.10 Bode Panzer GmbH 
• Exhibit 144: Bode Panzer GmbH - Overview
• Exhibit 145: Bode Panzer GmbH - Product / Service
• Exhibit 146: Bode Panzer GmbH - Key offerings

• 12.11 Brown Safe Manufacturing Inc. 
• Exhibit 147: Brown Safe Manufacturing Inc. - Overview
• Exhibit 148: Brown Safe Manufacturing Inc. - Product / Service
• Exhibit 149: Brown Safe Manufacturing Inc. - Key offerings

• 12.12 Diebold Nixdorf Inc. 
• Exhibit 150: Diebold Nixdorf Inc. - Overview
• Exhibit 151: Diebold Nixdorf Inc. - Business segments
• Exhibit 152: Diebold Nixdorf Inc. - Key offerings
• Exhibit 153: Diebold Nixdorf Inc. - Segment focus

• 12.13 Godrej and Boyce Manufacturing Co. Ltd.
• Exhibit 154: Godrej and Boyce Manufacturing Co. Ltd. - Overview
• Exhibit 155: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
• Exhibit 156: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
• Exhibit 157: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus

• 12.14 Gunnebo AB 
• Exhibit 158: Gunnebo AB - Overview
• Exhibit 159: Gunnebo AB - Product / Service
• Exhibit 160: Gunnebo AB - Key offerings

• 12.15 Hayman Safe Co. Inc. 
• Exhibit 161: Hayman Safe Co. Inc. - Overview
• Exhibit 162: Hayman Safe Co. Inc. - Product / Service
• Exhibit 163: Hayman Safe Co. Inc. - Key offerings

• 12.16 INKAS Group of Companies 
• Exhibit 164: INKAS Group of Companies - Overview
• Exhibit 165: INKAS Group of Companies - Product / Service
• Exhibit 166: INKAS Group of Companies - Key offerings

• 12.17 Kumahira Co. Ltd. 
• Exhibit 167: Kumahira Co. Ltd. - Overview
• Exhibit 168: Kumahira Co. Ltd. - Product / Service
• Exhibit 169: Kumahira Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

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