Increase in number of incidences of damage of crucial products and theft of expensive products from hotel rooms has increased the concerns towards luggage safety in hotel rooms. Usually stealing of luggage or any expensive product from hotel rooms is not common in three star and five star hotels. Stealing of luggage and expensive product from low grade hotel has become a common issue for travellers, due to less safety and security in hotels. These incidences have alarmed the hotel owners worldwide as customers have started to sue hotel owners for losing their luggage and expensive products from their hotel rooms. Continuously raising complaints of losing luggage from hotel rooms has forced the growth of in room safes market.
The in room safes market is bifurcated into seven key segments which are classified as in room safes type, lock types, types of protection offering, based on mechanism type, by application type, types of end users & types of sales channels.
What are the Dynamics behind In Room Safes Market Growth?
Traditionally, important luggage and files were kept inside wooden and iron cup boards and wardrobes. These cupboard and wardrobes are protected with locks and clips which are not secured and are vulnerable to theft. Recently, a video went viral shared by the hotel staffs of Bali hotel, Indonesia, according to which a family got busted for stealing accessories from the hotel rooms. Allegations like safety of luggage and important product were raised by the travellers. These types of allegations are not new for three stars hotel owners. Incident like this has boosted the market growth of in room safe globally.
Promising Growth Prospects for Electronic Password Lock in Room Safes Market
Currently, the manual lock based in room safes holds the highest share in the in room safes market. As compared to electronic password in room safes, manual lock based in room safe are easy to use for the users and price of manual in room safes are less as compared to electronic password based in room safes.
However, the market of electronic password-based in room safes is expected to grow in future, due to the advancement in electronic locks. Electronic password based safes are highly protected, and if someone tries to break it, it directly starts alarm system and it will notify emergency alert to the owner. Electronic password base in room safes also decreases the chances of stealing files and expensive things from inside the safes.
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What is the Regional Standpoint in In Room Safes Market?
Historically North America, Europe, East Asia and South Asia are the key revenue generators in in room safes market, as most number of in room safe manufacturers are from these regions. The South Asia and Latin America in room safes market is expected to grow at higher pace in future, due to the possible economic development in the emerging countries and the exponential rise in demand for protection, to secure asset, important file and other expensive thing in heavily cash intensive environment. Advancement in technology, growing crime rates globally, supporting and changing infrastructure security need in emerging economies.
North America and Europe hold a strong share in room safes market, due to increased awareness about benefits of having in room safes. Growing number of travellers in these regions, due to extensive travel locations in these region, is also helping in room safes market to grow.
In room safes report covers exhaustive analysis on:
- Market Segments of the Steering sector shaft market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends / Issues / Challenges
- Competition & Companies Involved
- Value Chain of the Steering sector shaft market
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Report Highlights:
- Detailed overview of the in room safes shaft market.
- Changing market dynamics in the in room safes shaft market.
- In-depth in room safes segmentation.
- Historical, current, and projected market size in terms of volume and value.
- Recent industry trends and developments in the Steering sector shaft market.
- Competitive landscape.
- Strategies of key players and products offered.
- Potential and niche segments, geographical regions exhibiting promising growth for the Steering sector shaft market.
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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