The new report by Expert Market Research titled, ‘Global Electronic Article Surveillance Market Analysis, Share, Size, Price, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global electronic article surveillance market, assessing the market based on its components, types, end users, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 1.12 billion
• Forecast CAGR (2023-2028): 3.6%
• Forecast Market Size (2026): USD 1.45 billion
The key factors driving the growth of the electronic article surveillance market are the increasing focus on modernising the retail sector and defending against stock shortages, shoplifting, and theft.
An increasing number of retailers are implementing revolutionary technology-based retail automation solutions, such as electronic article surveillance, to ensure enhanced protection of products from theft and shoplifting and further enhance customer experience with goods that are flexible and easy to access.
With the retail sector’s transformation, several retailers are introducing electronic article surveillance solutions because they help protect stock from shoplifting and fraud, improve the efficiency of retail stores, and enable inventory intelligence solutions as well as traffic counting. These factors are aiding the growth of the industry.
Electronic Article Surveillance Industry Definition and Segments
Electronic article surveillance (EAS) is a technical tool used in shops, retail stores, or similar places to deter shoplifting in businesses that display products. EAS systems are designed to suit a wide range of retailers’ product assortments and helps them prevent shrinkage. The use of this product ensures better protection from theft, fraud, and shoplifting, thus, improving the quality of retail stores.
On the basis of component, the industry can be broadly categorised into:
By type, the industry can be divided into:
• Radio Frequency
Based on end user, the industry can be divided into:
• Apparel and Fashion Accessories Stores
• Supermarkets and Mass Merchandise Stores
• Drug and Health Product Stores
The major regional markets of the product include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Electronic Article Surveillance Market Trends
Goods are better protected from fraud and shoplifting with tags. When tags move through an electronic article surveillance identification area at the entrance or exit of a store in an active state, they generate a warning. The majority of tag demand comes from apparel and fashion accessories stores, thus, as the number of consumers grows, so does the number of retail outlets, which, in turn, is expected to fuel the growth of the overall electronic article surveillance industry.
The electronic article surveillance market in the Asia Pacific is expected to expand at the fastest pace. Electronic article surveillance systems are expected to be in high demand in the clothing and fashion accessories, supermarkets, and mass merchandise segments as the number of retail stores grows across the region.
Key Market Players
The major players in the market are Johnson Controls International plc, CCL Industries, Inc., All Tag Corporation, Ketec, Inc., Sentry Technology Corporation, WG Security Products, Inc., SafeGear ApS., Gunnebo Gateway AB, and Agon Systems Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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