The global safes and vaults market is projected to record a CAGR of 6.50% during the forecast period due to the increase in crime rate and concern about safety.

Market Research Future has published a cooked research report on the Global safes and vaults Market, 2020–2030. The global safes and vaults market is projected to exhibit a CAGR of 6.50% during the forecast period of 2022 to 2030.

Market Research Future has recognized the following companies as the key players in the Global safes and vaults Market: The American Security (US), Caradonna (France), Godrej (India), Gunnebo (Sweden), Diebold Nixdorf, Incorporated (US), Alpha Safe & Vaults, Inc(US), Kumahira Co. Ltd (Japan), Kaso (Finland), Safeguard Safes (Australia), Shinjin Safes (South Korea).

Market Highlights

The global safes and vaults market is projected to be valued at USD 8,541.60 million by 2030, recording a CAGR of 6.50% during the forecast period. Rising applications of electronic and biometric safes and vaults, growing commercial banks and retail sector, and increase in crime rate and concern about safety. Moreover, new product launches and rising application of safes and vaults for protection of the valuable things are expected to be prime opportunity for market players. However, duplication of safes and vaults technology at lower price is expected to hamper the growth of the global safes and vaults market during the years to come.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of safes vaults market Research Report

Segmental Analysis

The global safes and vaults market has been segmented based on type, function, application, industry, and region.

Based on the usage Type, the global Safes and Vaults market has been segmented into Traditional, Electronic, and Biometric, the Traditional segment has accounted for 39.27% in 2021. Although it is the oldest, the traditional type-safe can be extremely secure. Because they rely on friction to lock stuff away rather than electronics, traditional safes get their name from their use of levers and pins to secure goods. These locks come in a wide range of quality; some are rather basic, while others feature multi-leveled locking systems with two or more distinct mechanisms for increased attack resistance and exceptionally high-security ratings.

Based on Function, the global Safes and Vaults Market has been bifurcated into Cash Management Safes, Depository Safes, Gun Safes & Vaults, Vault & Vault Doors, Media Safes, and Others. The Cash Management Safes segment accounted for the highest market share of 29.63% in 2021. The cash management safes category had the biggest market share. Cash management safes are growing increasingly popular due to end-user acceptance of end-of-the-day deposit management solutions that reduce administrative costs, cash touch points, and counting time, as well as better theft and armed robbery safety. One of the main factors driving the development of this market segment for safes and vaults is the expansion of the retail industry.

Based on end-use, the global Safes and Vaults have been segmented into Residential and Commercial Safes and Vaults. The Residential segment accounted for a larger market share of 30.84% in 2021. During the projected period, it is anticipated that the residential sector would utilize safes and vaults more frequently. This market will expand as a result of the rising need for protection against theft, robbery, etc. Additionally, consumers' concerns over personal security are growing as a result of several events involving crimes against minors that took place in the house. Income growth stimulates the purchase of valuable assets. This is expected to fuel the demand for safes and vaults. The worldwide safes and vaults market is also anticipated to grow over the course of the forecast period due to the development of smart homes with improved security features.

Based on Industry, the global Safes and Vaults have been segmented into Banking Sector and Non-Banking Sector. The Banking Sector segment accounted for a large market share of 56.78% in 2021. The segment that dominates is the banking industry. Due to the growing demand for technologically advanced security products and the quick uptake of safes & vaults among commercial and small finance banks for the purpose of protecting their assets, the adoption of ATMs, biometric safes & vaults, and other devices is rising among the banking and fintech industries. Additionally, banks are adding cutting-edge features to engage a large number of customer and safeguard the money and valuable assets of their clients. The market is expanding as a result of several banks using various safe & vault types. For example, in November 2018, ICICI Bank launched India's first Smart Vault, an automated storage facility outfitted with cutting-edge robotic technology. Customers may simply access it in this smart vault by swiping their debit cards and authenticating their identities using biometrics.

Regional Analysis

On the basis of region, the global safes and vaults market has been categorized as North America, Europe, Asia-Pacific, and Rest of the World. As per MRFR analysis, North America accounted for the largest market share of 35.60% in 2021. It includes nations like the United States and Canada. Due to the rise in the number of retail outlets, which has aided in the market's expansion, North America is one of the regions with the biggest revenue contributions for safety systems. Safes and vaults have contributed significantly to the economy of North America for almost a century. Additionally, the extraordinary spread of the COVID-19 epidemic is anticipated to boost the need for safes and vaults in the US as people seek to protect their valuables from theft, natural calamities like earthquakes and floods, as well as man-made risks. Germany, the UK, France, Italy, Spain, Russia, and the rest of Europe are all included in the analysis of the European market. The market is expanding as a result of rising hotel and residential safe demand, the trend toward negative interest rates, European security regulations, and the availability of modern safe and vault products. The need for better risk management, safety solutions, and a higher penetration rate of highly advanced safes among manufacturing plants, logistics centers, power plants, prisons, casinos, and others to store sensitive information and money all have enhanced the adoption of safes and vaults in this region.

The safes and vaults market in the Asia-Pacific region is examined across nations including China, Japan, India, Australia, South Korea, and the rest of the region. It is regarded as the area with the quickest growth in the world due to the rising use of cash management safes and important players in nations like China, India, and Japan. Furthermore, the Asia Pacific safes and vaults market is predicted to grow in the approaching years due to the rising popularity of modern goods due to sophisticated characteristics like biometric sensors, compact construction, lightweight, and high strength. The growing need for these goods in both commercial and domestic applications, such as safe deposit boxes, cash vaults, strong rooms, etc., is a major factor in the growth of the Latin American safes and vaults market. Latin American and the Caribbean developing economies have significant retail expansion potential, which is projected to drive market growth for the duration of the forecast period. The Middle East and Africa Safes and Vaults Market is anticipated to expand over the projected period. The market expansion in the area is being driven by an increase in demand for cash management services from financial institutions, commercial entities, government offices, and other organizations from nations like Saudi Arabia, the United Arab Emirates, Kuwait, etc.

Key Findings of the Study:

• The global safes and vaults market is projected to register a growth rate of 6.50% from 2022 to 2030.


• The traditional segment accounted for 39.27% in 2021, while the biometric segment is likely to register the highest CAGR of 6.91% during the review period.


• The cash management safes segment accounted for the largest market share of 29.63% in 2021, whereas the Vaults and Vault Doors segment is expected to witness the highest CAGR of 7.0%.


• The residential segment recorded the largest market share of 30.84% and is expected to grow at the highest CAGR of 7.10%.


• The banking sector segment accounted for the largest market share of 56.78% in 2021, while the non-banking sector is likely to register the highest CAGR of 6.70% during the projected period.