Research Nester has released a report titled “Hidden Safe Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global hidden safe market in terms of market segmentation by safe type, function, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Hidden Safes are protected storage systems where costly and precious items such as money, important documents, records, and jewellery can be stored. Hidden safes can be installed in a compact and secured way at home and offices. Hidden safes are of various types, namely, electronic, fingerprint and mechanical. The major benefit of using hidden safes is that it is hard for thieves to crack it. The hidden safe market is anticipated to record a CAGR of around 6.5% over the forecast period, i.e., 2020-2028. The market is segmented by safe type into electronic, fingerprint and mechanical, out of which fingerprint segment is anticipated to hold the largest market share. The growth of the segment can be attributed to the numerous benefits associated with the fingerprint hidden safes, such as high-level security and the need for advanced technology safes and lockers amongst end users.
Regionally the hidden safe market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is anticipated to grow at a CAGR of over 6.5% throughout the forecast period owing to the demand for hidden safe from nations such as China, Japan and India, where the banking and non-banking sectors are growing massively.
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Increasing Demand for Security and Safety of Valuables
Safety concerns are increasing and so is the demand for hidden safes. Items such as jewellery and cash which thieves can steal easily are at high risk. This rising concern for security and safety raises the need for compact and secure safes, which in turn is anticipated to drive the growth of the global hidden safe market. Moreover, increasing demand for hidden safes from business professionals, backed by the growing number of upcoming new businesses worldwide, coupled with the advanced features of hidden safes, such as, compact size and the products being embedded with the latest technologies are some of the additional factors driving the growth of the global hidden safe market.
However, the high product cost of hidden safe, coupled with the growing availability of substitutes from unorganized players are some of the factors anticipated to impact negatively towards the growth of the global hidden safe market.
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This report also provides the existing competitive scenario of some of the key players of the global hidden safe market which includes company profiling of American Security Products Co., Godrej & Boyce Manufacturing Co. Limited (NSE: GODREJPROP), Dean Safe , dormakaba Group (SWX: DOKA), Access Security Products Ltd., Alpha Safe & Vault Inc., Acme Security Systems., BJARSTAL s.a.r.l., Bode-Panzer GmbH, Chubb Safes Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hidden safe market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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