Vaults and Vault Doors: Transitioning toward Biometric Authentication and Advanced Materials

Key takeaways:

• Introduction
• Role of biometric authentication solutions
• Launch of innovative products

Vaults or safes are secure storage spaces for cash, gold, important papers, and other valuables. From domestic households to commercial enterprises such as banks and financial corporations, vaults are an essential component of physical infrastructure to prevent unauthorized access and protect these assets from theft, tampering, and damage. The growing pace of urbanization and industrialization across the globe has surged the demand for high-tech vaults. Along with this, the rising disposable incomes of people across the globe have increased the need for such safe storage units. To cater to the advanced needs of the various end-use industries, manufacturing companies are increasingly focusing on improving the quality of vault doors, thereby enhancing the utility of safe storage units in different applications.

Innovations in vaults and vault doors driving the industry growth

In the last few years, several manufacturing companies have started investing in advanced technologies to improve the overall safety standards of vaults and similar storage units. The use of biometric authentication systems has increased significantly, thus creating new investment opportunities in the vaults and vault door industry. Since physical characteristics such as fingerprints, iris patterns, and facial features are unique to every individual, the risk of identity theft and fraudulent entry is reduced significantly. Furthermore, compared to conventional security systems, these solutions offer quick authentication to authorized personnel, thus improving the efficiency of the entire process. Additionally, passwords and similar codes are likely to get leaked or forgotten, thus causing inconvenience to the users. Biometric inputs, on the other hand, provide a convenient mechanism to gain access to vaults and safes, thereby increasing their utility in various industries.

Along with this, the use of high-performance materials to manufacture resilient vault doors has played an important role in the growth of the industry. The main goal behind utilizing these cutting-edge solutions is to minimize the risk of tampering through processes like drilling, prying, and cutting. Furthermore, by offering corrosion and abrasion resistance, these raw materials enhance the overall durability and strength of the vaults, improving the security of valuable assets stored in them. For instance, many companies have started using heavy-duty steel and armor plating techniques to protect vault doors from explosives. Furthermore, the use of fireproofing materials to create advanced safes has created favorable conditions for the growth of the industry.

Launch of ingenious products generating numerous growth opportunities in the industry

The vaults and vault doors industry accounted for $735.3 million in 2023 and is predicted to gather a revenue of $1,484.14 million by 2033, rising at a CAGR of 7% during 2024-2033. Recently, many multinational companies have launched new products, helping them expand in the industry. For example, in September 2024, Gunnebo Safe Storage, a leading security solutions provider, unveiled ModuleGuard-VD T2, a cutting-edge vault system. Designed for the pharmaceutical, commercial, and high-end retail sectors, this storage unit features modular construction, lightweight assembly components, and sophisticated thermal and electrical equipment. Furthermore, the advanced combination and electronic locks provide customization and personalization facilities, thereby enhancing the product’s overall security standards.

On the other hand, in September 2024, STEELAGE, a pioneer in physical security systems, issued a press release highlighting that its Modular Vault Solution became the first product to receive Class A certification (under IS 17541) from the Bureau of Indian Standards (BIS). Anirban Mukhuti, the company’s head of marketing for the APAC region, stated that this development showcases STEELAGE’s resolve to develop world-class security systems and strengthens the position of the enterprise in the industry. The vault solution has been manufactured for retail, banking, and logistics sectors to help businesses store their valuable items and assets such as jewelry, important documents, gold, cash, etc., safely. Additionally, the easy installation and maintenance features offered by this product have enabled the company to gain a competitive advantage over other firms in the market.

In summary, the growing demand for advanced physical security solutions from people living in metropolitan cities and industrial towns has contributed to the expansion of the vaults and vault doors industry. The various innovations such as biometric authentication systems and the use of advanced materials have accelerated sectoral growth and success in recent years.

For more information on the key growth drivers and investment opportunities in the landscape, contact our experts here!

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