To get more information about this market, Request Sample Safes and Vaults Market Trends:Ī significant increase in the crime rate and rising concerns regarding the safety of valuable assets among the masses are one of the key factors driving the growth of the market. Safes and vaults are available in a wide variety of shapes and sizes and are usually opened through passwords, passcodes or numerical pins. They can secure and protect monetary assets, arms and ammunition, sensitive documents, critical records, medial files and other items. They are primarily used for protection against exposure to fire, moisture and chemicals, extreme weather conditions, theft, burglary, robbery and other forms of intrusion and unauthorized access. They are containers manufactured using thick metal panels that are hard to cut or damage by applying force or external pressure. Safes and vaults refer to secure storage systems that are used for safekeeping valuable commodities under high-risk situations. These insights are included in the report as a major market contributor.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. Looking forward, IMARC Group expects the market to reach US$ 6.24 Billion by 2027, exhibiting at a CAGR of 7.7% during 2022-2027.
The global safes and vaults market reached a value of US$ 4 Billion in 2021.
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