Security Seals Market?: Introduction
Security seals is a tool used to seal the containers, packaging material or any goods in a way that provides some level of security and protection against tampering. Such seals can assist users to prevent contamination, theft, either accidental or intentional. Security seals are commonly utilized to secure vessel containers, truck trailers, chemical drums, utility meters and airline duty-free trolleys. Security seals are being increasingly utilized for the last few years as an inexpensive way to secure goods in sensitive spaces. Rise in concerns about safety and security among users in diverse businesses such as banking, manufacturing, and courier service, is expected to drive the security seals market across the globe.
Global Security Seals Market: Competition Landscape
Presence of prominent players across the globe, who are introducing advanced products and providing reliable security solutions to users, is expected to boost the sales of security seals in the next few years. Furthermore, emerging players across the globe are emphasizing on the development of a wide range of security seals and offering customized solutions in order to cater to the increasing needs of users.
HOEFON SECURITY PRODUCTS B.V.
Hoefon Security Products B.V., founded in 1986, specializes in the manufacturing and distribution of security seals and tamper evident security products. It offers a wide range of products such as bolt seals, cable seals, nylon seals, plastic seals, metal seals, security tapes, and bags. The company also focuses on providing tailor-made solutions and cater to the requirement of users.
To Get Glimpse of what our Report offers, Ask for a Report Brochure
Tyden Group, founded in 1897, engages in the manufacturing and distribution of consumable and permanent track & trace solutions. The company operates through two business divisions: TydenBrooks and Telesis. It also owns subsidiaries such as Telesis Technologies, Inc., E.J. Brooks Company, and TydenBrooks Security Products Group. Tyden Group offers wide range of solutions including security, traceability, identification, and tamper evident security seals, labels, and tapes and locking devices for the logistics industry.
W.W. Grainger, Inc.
W.W. Grainger, Inc., established in 1928, specializes in the distribution, maintenance, repair and overall services to the industrial, commercial, contractor, and institutional markets. The company provides motors, lighting, HVAC equipment, hand and power tools, pumps, and electrical equipment. W.W. Grainger, Inc. has about 33 distribution centers, 598 branches and online channels.
Key players operating in the global security seals market include Unisto AG, MEGA FORTRIS GROUP, American Casting Mfg., Tyden Group, Transport Security, Inc., Hoefon Security Products B.V., J. Keller & Associates, Inc., Acme Seals Limited, JW Products Limited, EUROSEAL a.s., and W. W. Grainger, Inc.
Global Security seals Market: Dynamics
Expansion of global transport and logistic market
Rise in global trade is expected to be a major factor boosting the security seals market across the globe. According to International Monetary Fund (IMF), global trade is increasing at 3.8% per year. This is driving the transport and logistics sectors, which in turn boosts the demand for security seals. Security seals are preferred due to their extensive application in transportation and logistics sectors. Their functionality and flexibility is estimated to boost demand further. For instance, the acquisition of U.S.-based logistics company Coyote Logistics by UPS, for US$ 1.8 billion, and the acquisition of France-based forwarder Norbert Dentressangle by XPO Logistics, for US$ 2.8 billion.
Overall growth in diverse applications
The popularity of security seals has been rising in the last few years, owing to their usage in diverse applications. Rapid expansion of transportation, logistics, packaging, e-commerce, and retail industries has fueled the demand for security seals. Moreover, stringent laws enacted by regional and government bodies to conduct secure and safe business practices across diverse businesses are expected to drive the security seals market. Users prefer security seals to provide basic, reliable, and affordable security solution. Possibility of piracy, and theft of good owing to poor security management have driven the global security seals market.
Technological advancement in products
Technological advancements in security seals makes them more cost-effective. Development of stronger and more complex security seals is estimated to boost the security seals market. Furthermore, mixed metals or advanced materials are more difficult to break but make minor tampering attempts evident, which in turn is also driving the seals industry. Barcoding and laser marking of security seals made more advanced security practices possible on a large scale. For instance, in February 2019, Universal (UK) Ltd. introduced the new Snap 'N' Secure product, which can be applied to most standard steel or poly banding.
To Get a Bird’s Eye View of Market Forecast, Ask for a Custom Report
Global Security Seals Market: Segmentation
Based on seal type, the global security seals market can be segmented into:
- Cable seals
- Bolt Seals
- Plastic Seals
- Electronic Tracking & Sensing Seals
- Tamper-Evident Seals
- Others (Tote Box Seals, Barrier Seals, Security Tape, etc.)
Based on by degree of protection, the global security seals market can be classified into:
- High Security Seals
- Security Seals With Cables
- Indicating Seals
Based on operation, the global security seals market can be bifurcated into:
- Single Use
Based on application, the global security seals market can be segregated into:
- Banks / Cash in Transit
- Security Station
- Chemicals / Pharmaceuticals
- Airlines & Transportation
- Post / Courier Services
- Specials / Customized Solutions
- Others (Packaging, Food, etc.)
In terms of distribution channel, the global security seals market can be split into:
- Online Channel
- Offline Channel
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.