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Safes and Vaults Market to Grow by USD 1.57 Billion (2024-2028), Driven by Healthcare Demand, with AI Impacting Market Trends – Technavio

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global safes and vaults market size is estimated to grow by USD 1.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.34%  during the forecast period. Increasing demand for safes and vaults from healthcare industry is driving market growth, with a trend towards growing demand for customized safes and vaults. However, increase in cashless transactions  poses a challenge.Key market players include Access Security Products Ltd., Acme Safe Co., ADT Inc., ALPHA INDUSTRIES PVT. LTD., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co Australasia Pty Ltd., Diebold Nixdorf Inc., Dormakaba Holding AG, Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., INKAS Safe Manufacturing Ltd., ISM, and Kumahira Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Safes And Vaults Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.34%

Market growth 2024-2028

USD 1.57 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.18

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 36%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Access Security Products Ltd., Acme Safe Co., ADT Inc., ALPHA INDUSTRIES PVT. LTD., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co Australasia Pty Ltd., Diebold Nixdorf Inc., Dormakaba Holding AG, Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., INKAS Safe Manufacturing Ltd., ISM, and Kumahira Co. Ltd.

Market Driver

The market for safes and vaults is witnessing significant growth due to the increasing need for safety and security of cash, valuable things, documents, records, devices, and other valuable commodities. With the rising crime rate and the threat of unauthorized access, both commercial and residential settings are investing in safes and vaults. Traditional safes made of thick metal plates are being replaced by electronic and biometric safes for added security. The banking sector and non-banking sector, including retailers and e-commerce channels, are major buyers of cash management safes and depository safes. Neo banks and branchless banks are also adopting smart safes and digital vaults for secure cash management. The residential market is seeing a trend towards home safes with biometric identification, such as fingerprint-based safes and biometric scanners. The retail market is also focusing on secure data storage through data safes and sustainability through eco-friendly safes. The insurance industry is another significant player in the market, with a focus on protecting sensitive data and assets from damage, theft, and disasters. The use of robotic technology, cash recyclers, and automatic locks is becoming increasingly popular in commercial sectors. The safety features of safes and vaults include lock mechanisms, time locks, relocking devices, fire-resistant materials, and water-resistant materials. The market is expected to grow further due to the increasing urbanization, disposable income levels, and living standards, as well as the digitization of various sectors and the need for secure data storage. 

Customized safes and vaults cater to unique security needs and preferences, shifting from standard to tailored solutions. Advanced security features like biometric authentication, electronic locking systems, and real-time monitoring can be integrated. Customization allows for optimal performance in diverse settings such as financial institutions, retail spaces, or residential properties. Seamless integration into interior designs ensures a professional appearance. These customizations enhance security and adaptability, providing superior protection for valuables. 

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 Market Challenges

The Safes and Vaults market encompasses various types of safes and vaults used to secure cash, valuable things, documents, records, devices, and other valuable commodities. Challenges in this market include illegal access, theft, disasters, and unauthorized access. Commercial banks, e-commerce channels, neo banks, and branchless banks are significant customers for safes and vaults in the banking sector. In the non-banking sector, retailers, private label brands, and international brands require safes for cash management and securing valuable items. Safes come in various types such as traditional safes, electronic safes, biometric safes, cash management safes, depository safes, media safes, residential safes, and commercial safes. Security features include thick metal plates, passwords, biometric identification through fingerprint scanners and facial recognition, time locks, relocking devices, fire-resistant materials, and water-resistant safes. The market faces challenges such as damage from disasters, unauthorized access, and the need for sustainability with eco-friendly safes and energy consumption. The insurance industry and data protection laws require secure data storage through data safes. The market is also witnessing digitization with digital vaults, mobile wallets, and automatic locks, as well as robotic technology, cash recyclers, and remote monitoring systems. The retail market, financial wealth, standard of living, investment, and consumers drive the demand for safes and vaults in various settings, including commercial sectors, residential settings, small business settings, and various industries such as hotels, hospitals, educational institutions, and smart cities. Safety awareness, cash management, and security procedures are key considerations for consumers.The global issue of black money and corruption has led governing bodies to promote cashless transactions for sustainable development. Digital payment applications like Google Pay, PayPal, and Zelle have gained popularity, increasing cashless transactions significantly. Countries such as Norway and Sweden have high adoption rates, with some banks even discontinuing cash from ATMs. The enhanced security of digital transactions has further encouraged consumers to shift towards these methods.

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Segment Overview 

This safes and vaults market report extensively covers market segmentation by  

Product 1.1 Cash management safes1.2 Depository safes1.3 Vaults and vault doors1.4 Gun safes and vaults1.5 OthersEnd-user 2.1 Banking2.2 Non-bankingGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Cash management safes-  Cash management safes are essential tools for businesses requiring on-demand cash deposit and dispense services. These safes are commonly used in banking institutions, retail shops, and cash-in-transit (CIT) applications. Integrated with LCD screens and all-purpose calculators, cash management safes offer various transaction options such as cash withdrawal, transfer, or deposit. They also detect counterfeit notes and bills, ensuring security. Manufacturers focus on value addition and advanced technology to remain competitive. Integration of software solutions and advanced technologies enhances safety and convenience, driving market growth. Consumer needs and software advancements are key growth drivers for the cash management safes segment of the global safes and vaults market.

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Research Analysis

Safes and vaults are essential security solutions for protecting cash, valuable things, documents, records, devices, and other important assets from illegal access, theft, and disasters. They come in various sizes and types, including home safes and large commercial vaults. The market for safes and vaults continues to grow due to increasing crime rates and the need for advanced security measures. Safes and vaults use different access methods such as keys, codes, and biometric identification. Key duplication is a concern for traditional key-based safes, making code and biometric-based safes more popular. Fire, flood, and other disasters can also damage or destroy valuable assets, making safes and vaults with fire and water resistance essential. Commercial banks, e-commerce channels, neo banks, and branchless banks use large vaults to store large amounts of cash and other valuable assets. The safety and security procedures of these institutions are critical in preventing unauthorized access and ensuring the integrity of their assets. Smart safes and fingerprint-based safes with biometric fingerprint scanners are becoming increasingly popular due to their convenience and advanced security features. However, the risk of biometric data breaches is a concern, making it essential to follow best practices for data security. Overall, safes and vaults play a crucial role in protecting valuable assets and ensuring safety and security.

Market Research Overview

The safes and vaults market encompasses a range of security solutions designed to protect cash, valuable documents, records, devices, and other important assets from illegal access, theft, disasters, and damage. This market caters to both commercial and residential settings, with offerings including traditional safes made of thick metal plates, as well as electronic and biometric safes. In the commercial sector, banks and non-banking institutions utilize safes and vaults to secure financial wealth, valuable commodities, and sensitive data. Cash management safes, depository safes, media safes, and smart vaults are popular choices for businesses. The retail market also plays a significant role in the safes and vaults industry, with retailers offering a variety of safes for consumers, from home safes to commercial safes. E-commerce channels, neo banks, and branchless banks have also increased the demand for digital vaults, mobile wallets, and automated locker facilities, which leverage advanced technologies like biometrics, facial recognition, and robotic technology. The safety and security of valuable assets are paramount, and safes and vaults come equipped with various features such as high-strength materials, lock mechanisms, time locks, relocking devices, fire-resistant and water-resistant materials, and smart connectivity. The market is also influenced by factors such as crime rate, safety awareness, and the standard of living, with a growing trend towards eco-friendly and energy-efficient safes. The insurance industry and data protection laws further drive the demand for safes and vaults, as they provide an essential layer of security for assets and sensitive information. The market is expected to continue growing, with a focus on innovation and digitization to meet the evolving needs of consumers and businesses.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductCash Management SafesDepository SafesVaults And Vault DoorsGun Safes And VaultsOthersEnd-userBankingNon-bankingGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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NASA Plans to Assign Missions for Two Future Artemis Cargo Landers

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WASHINGTON, Nov. 19, 2024 /PRNewswire/ — NASA, along with its industry and international partners, is preparing for sustained exploration of the lunar surface with the Artemis campaign to advance science and discovery for the benefit of all. As part of that effort, NASA intends to award Blue Origin and SpaceX additional work under their existing contracts to develop landers that will deliver large pieces of equipment and infrastructure to the lunar surface.

NASA expects to assign demonstration missions to current human landing system providers, SpaceX and Blue Origin, to mature designs of their large cargo landers following successful design certification reviews. The assignment of these missions builds on the 2023 request by NASA for the two companies to develop cargo versions of their crewed human landing systems, now in development for Artemis III, Artemis IV, and Artemis V.

“NASA is planning for both crewed missions and future services missions to the Moon beyond Artemis V,” said Stephen D. Creech, assistant deputy associate administrator for technical, Moon to Mars Program Office. “The Artemis campaign is a collaborative effort with international and industry partners. Having two lunar lander providers with different approaches for crew and cargo landing capability provides mission flexibility while ensuring a regular cadence of Moon landings for continued discovery and scientific opportunity.”

NASA plans for at least two delivery missions with large cargo. The agency intends for SpaceX’s Starship cargo lander to deliver a pressurized rover, currently in development by JAXA (Japan Aerospace Exploration Agency), to the lunar surface no earlier than fiscal year 2032 in support of Artemis VII and later missions. The agency expects Blue Origin to deliver a lunar surface habitat no earlier than fiscal year 2033.

“Based on current design and development progress for both crew and cargo landers and the Artemis mission schedules for the crew lander versions, NASA assigned a pressurized rover mission for SpaceX and a lunar habitat delivery for Blue Origin,” said Lisa Watson-Morgan, program manager, Human Landing System, at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “These large cargo lander demonstration missions aim to optimize our NASA and industry technical expertise, resources, and funding as we prepare for the future of deep space exploration.”

SpaceX will continue cargo lander development and prepare for the Starship cargo mission under Option B of the NextSTEP Appendix H contract. Blue Origin will conduct its cargo lander work and demonstration mission under NextSTEP Appendix P. NASA expects to issue an initial request for proposals to both companies in early 2025.

With the Artemis campaign, NASA will explore more of the Moon than ever before, learn how to live and work away from home, and prepare for future exploration of Mars. NASA’s SLS (Space Launch System) rocket, exploration ground systems, and Orion spacecraft, along with commercial human landing systems, next-generation spacesuits, Gateway lunar space station, and future rovers are NASA’s foundation for deep space exploration.

For more on NASA’s Human Landing System Program, visit:

https://www.nasa.gov/hls 

 

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SOURCE NASA

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GQR Life Sciences Partners with Nebula to Transform Talent Acquisition for Biopharma Clients

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — GQR Life Sciences, a leader in total talent solutions for the biopharma industry, is proud to announce a strategic partnership with Nebula, an AI-powered talent platform that takes client service and innovation to the next level. This partnership strengthens GQR Life Sciences’ ability to deliver advanced workforce solutions tailored to the unique needs of biopharma organizations, empowering them to drive progress and innovation across the industry.

Since 2016, GQR Life Sciences has served over 1,000 clients, supporting groundbreaking work in areas such as drug development, clinical research, and commercialization. The integration of Nebula into its talent solutions marks a major milestone, providing biopharma clients with cutting-edge tools to streamline talent acquisition and enhance internal hiring capabilities.

Biopharma Innovation
Nebula harnesses natural language processing and AI technology to enable precise, efficient talent matching. GQR Life Sciences’ clients can access a vast pool of over 180 million profiles, empowering them to secure the expertise needed to tackle their most complex challenges, from advancing pipelines to scaling operations.

“Integrating Nebula into our solutions takes client service and innovation to the next level for our biopharma partners,” said Trevor Symons, Head of Revenue Operations at GQR Life Sciences. “This technology allows us to deliver faster, more efficient hiring processes while giving our clients the tools to elevate their own talent acquisition strategies and maintain their edge in a competitive market.”

Enhancing Client Capabilities
Nebula enables GQR Life Sciences’ clients to independently identify and rank candidates with ease, integrating seamlessly with existing applicant tracking systems. By automating labor-intensive processes like job descriptions, recruitment marketing, and sourcing, the platform significantly reduces time-to-hire, empowering organizations to focus on advancing their strategic priorities.

Faster, Smarter Workforce Solutions
The partnership with Nebula enhances GQR Life Sciences’ ability to deliver high-value services that meet the demands of a fast-evolving industry. Whether supporting talent needs for clinical trials, manufacturing scale-ups, or commercial launches, Nebula ensures biopharma clients have access to top-tier talent with unmatched efficiency.

About GQR Life Sciences
GQR Life Sciences is a premier provider of total talent solutions for the biopharma industry. With a commitment to innovation and excellence, GQR Life Sciences helps organizations achieve their workforce goals and drive industry progress.

About Nebula
Nebula is an AI-driven talent platform that enhances recruitment outcomes through advanced natural language processing and analytics. Designed to deliver smarter, faster hiring, Nebula empowers organizations to achieve their most ambitious goals by connecting them with top-tier talent.

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SOURCE GQR

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Blackbaud Institute Releases New Research on Charitable Support Trends Across Generations in Australia and New Zealand

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Financial Donations Lead as Most Impactful Support Method Across Generations, but Volunteering and Advocacy Remain Vital

SYDNEY, Nov. 20, 2024 /PRNewswire/ — The Blackbaud Institute, a sector research lab at Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has released a new report, Charitable Support Across Generations in Australia and New Zealand, that provides insights into the evolving charitable behaviors and support preferences of Gen Z, Millennials, Gen X, and Boomers. Through survey responses from over 1,000 participants, this comprehensive study uncovers generational attitudes toward nonprofit support, identifying factors influencing giving and highlighting the unique challenges facing the nonprofit sector in a dynamic philanthropic landscape.

The findings reveal that, across all generations, monetary donations remain the most impactful way to support causes. However, Gen Z places a high value on volunteering and advocacy, reflecting a shift toward active engagement beyond financial contributions. While health, animal welfare, and children’s causes remain widely supported, each generation brings unique perspectives and priorities to their charitable activities.

“Understanding the motivations and preferred support methods of each generation is essential, especially in a time of rising economic pressures,” said Kevin Sher, president and general manager of Blackbaud’s operations in Asia Pacific. “Our findings show that while financial support is universally valued, younger generations—particularly Gen Z—are redefining their approach to social impact through direct engagement in volunteerism and advocacy. Older generations, who are typically more financially established, donated the most, highlighting the continued importance of engaging Gen Xers and Boomers in the next decade. By adapting to generational supporting trends, nonprofits can deepen connections across age groups.”

Key Findings from the Report:

Generational Support Preferences: While financial donations lead across generations, Gen Z demonstrates a notable emphasis on volunteering (47%), and Boomers are more inclined to promote causes they care about. These insights suggest varied but complementary approaches to support.Top Influencing Factors: Trust, belief in the mission, and perceived urgency drive support across all generations. Transparency and privacy are especially important for younger generations, shaping their expectations for nonprofit communication.Barriers to Support: Economic constraints and time limitations are significant deterrents. A notable number of Gen Z and Millennial respondents report hesitancy due to concerns about nonprofit transparency and impact, underscoring the need for nonprofits to communicate their effectiveness.Acknowledgement Preferences: Email remains the most preferred form of recognition. However, Millennials and Gen Z value public recognition and detailed impact reporting, emphasising the importance of digital and personalised nonprofit engagement.

The report further provides actionable recommendations for nonprofits to effectively engage supporters across generations, including strategies to build trust, enhance volunteer programs, and diversify donation methods to meet evolving preferences. Get more information on Charitable Support Across Generations and access the full report here.

bbcon 2024 Sydney 
Publication of the new report follows the success of Blackbaud’s recent bbcon Sydney event, hosted in October. Over 100 Blackbaud customers, technology partners, expert speakers and Blackbaud staff attended the event to hear about the major waves of innovation that will transform the future of social impact for Blackbaud’s customers in the Australia and across the Asia Pacific region.

These announcements included a host of AI-powered solutions, enhanced functionality of Blackbaud’s core fundraising product, integrated payments experiences to help organisations raise and save more, and more flexibility to help customers extend their Blackbaud software. Breakout sessions provided the opportunity for delegates to hear best practices for fundraising, grantmaking, and corporate impact, as well as network with like-minded peers.

To learn more about Blackbaud’s most recent innovation, visit www.blackbaud.com.au/newsroom.

About Blackbaud Institute
The Blackbaud Institute develops leading-edge research and convenes expert voices to equip the social impact community with knowledge, insight, and confidence. The Blackbaud Institute draws from Blackbaud’s data set, the most comprehensive in the social impact community. In addition, the Institute facilitates public research studies to drive original qualitative and quantitative insight. Our research agenda is grounded in a commitment to topics that social impact organisations can apply immediately to better understand, benchmark, and improve their essential business operations. We are guided by our commitment to the social impact sector to provide timely, transparent, and well-rounded research that is free to access. From how organisations run to how donors give, we’re 100% focused on research and resources for this sector.

About Blackbaud
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organisations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com.au or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com

Forward-looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

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