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Personal Safes Market to Top $308 Million by 2011
Date:1/10/2008

NEW YORK, Jan. 10 /PRNewswire/ -- U.S. Market for Personal Safes, a new report by market research publisher SBI, forecasts that the market for personal safes will grow by double digits in 2008 and beyond, topping $308 million by 2011. At $221 million in 2006, personal safes accounted for 36% of the overall U.S. safes market. In terms of units, personal safes account for an even greater share. An estimated 300,000 safes are sold each year in the U.S., 60% of which are sold in the consumer marketplace.

Recent natural disasters such as hurricanes, wildfires, and floods have increased awareness among consumers of the need to protect valuables. In addition to environmental concerns, consumers are increasingly aware of the threat of burglary for their home offices and the need to conform to firearm regulations.

Promotion and consumer education are important aspects of personal safe sales. Along with building awareness, some promotions include warranties or guarantees against theft, vandalism, or fire. In addition, personal safes are often promoted as part of an overall home protection system.

As safes become more of a mass-market commodity, manufacturers are creating new and innovative designs to accommodate homeowners. Table-top "safes" hide items in containers that imitate consumer products, such as beer cans or cleaning product containers, while discrete wall safes allow access through imitation electrical outlets. The newest technology for locks is biometrics, which generally involves the use of fingerprint recognition to open a safe.

U.S. Market for Personal Safes contains comprehensive data on the U.S. market for residential safes, including historical and forecasted market supply values. The report identifies key trends affecting the marketplace, along with trends driving growth, and also profiles major marketers and consumer demographics. The report is available from SBI by visiting:

SOURCE SBI
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