India Safes and Vaults Market
SHERIDAN, WYOMING, UNITED STATES, September 26, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “India Safes and Vaults Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the india safes and vaults market size reached US$ 150.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 241.6 Million by 2027, exhibiting a growth rate (CAGR) of 7.9% during 2022-2027.
Safes and vaults are secure storage systems used to safeguard valuable commodities from unauthorized intrusions. They are manufactured using thick metal panels that offer resistance against moisture, fire, water, and chemicals and provide protection from burglary and robbery. They help protect sensitive documents, monetary assets, arms and ammunition, critical records, and medical files. Besides this, they are impenetrable by external force and can be accessed through passwords, biometric codes, and numerical pins. As a result, safes and vaults are extensively adopted in residential and commercial sectors across India.
Covid-19 Scenario: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
Increasing incidences of theft, burglary, and robbery, along with rising concerns among individuals about the safety of valuable physical assets, represent one of the key factors positively influencing the market in India. In addition, the growing adoption of safes and vaults by banks, financial institutions, and enterprises for secure cash dispensing and storing media data and files is creating a positive outlook for the market in the country. Furthermore, the rising utilization of password-protected safes and vaults to prevent drug burglaries and prescription-related thefts is contributing to the market growth. Moreover, the escalating demand for technologically advanced variants integrated with alarms, finger-print sensors, video monitoring systems, seismic detectors, and auto-locking mechanisms is driving the market.
India Safes and Vaults Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on region, type, function type, application, end user.
Breakup by Type:
Breakup by Function Type:
Cash Management Safes
Gun Safes and Vaults
Vaults and Vault Doors
Breakup by Application:
Breakup by End User:
Non Banking Sector
Breakup by Region:
West and Central India
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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