Global Electronic Article Surveillance Market Overview
Electronic Article Surveillance market accounted for USD 974.7 million in 2020 and is estimated to be USD 1367.23 million by 2030 and is anticipated to register a CAGR of 3.5%.
Electronic article monitoring is a technical tool for avoiding stealing in retail establishments, book theft in libraries, and property removal from office buildings. As consumers leave the store, the system is meant to detect unpaid products in their pockets or bags. EAS antennae and EAS tags or labels are the two most common components. The primary driving drivers for the market's growth throughout the forecast period are the modernization of the retail sector and security against inventory losses, shoplifting, and theft. The main reasons for the use of EAS products, which are driving the market, are inventory loss prevention, shoplifting prevention, and theft prevention.
Organized retail crime (ORC) costs the retail industry roughly USD 30 billion per year, according to the NRF (National Retail Federation). Shoplifting is also a key cause of shrinkage in the retail industry, according to the National Retail Security Survey (NRRS). All of these incidents have compelled retailers to deploy a theft-prevention system, resulting in increased demand for EAS. The market has slowed dramatically as a result of the COVID-19 epidemic, which has resulted in the temporary closure of retail outlets around the world, including apparel, fashion stores, and other sorts of department stores. In addition, with no significant expansions projected during this time, demand for EAS systems is expected to be slow.
Global Electronic Article Surveillance Market Drivers & Restraints
The research scope provides comprehensive market size, and other in-depth market information details such as, market growth supporting factors, restraining factors, trends, opportunities, market risk factors, market competition, product and services advancements and launches, product/services related regulations overview, and recent developments for the mentioned forecast period. In addition, the report provides key examination of market players operating in the specific market and analysis and outcomes related with the target market for more than 20 countries.
In the current research scope 2018 is considered as base year and 2019 is estimated year for market value/volume calculations. The report offers market estimates for the forecast period – 2019 to 2029. The report provides factual inputs and analysis based on primary and secondary research, which includes insights gained through in-depth interviews with primary research participants. Also, the data is gathered from authentic secondary sources and is verified by key opinion leaders in the target market. The in-house research is applied on gathered information to provide more accurate data points and reduce the margin of error. The in-house research and analysis efforts include various tools and 360o data analysis methodology.
Global Electronic Article Surveillance Market Segmentations & Regional Insights
The global electronic article surveillance market report segments the market on the basis of type, application, and region.
The report expected to answer various target market related questions and offers insights on:
- Definition, description, overview of market growth influencing factors, and forecast for the target market
- Scope for related market in the forecast period
- Analysis and outcome for the global electronic article surveillance market by segment and region followed by countries
- Market segmentation, dominating segment and region followed by country along with market value, share, Y-o-Y growth, CAGR, forecast, and contribution in the market
- Key market player profiles, their recent developments, strategies, financial details, key competencies, presence by region, and product portfolio
- Valuable insights, data, and forecast that can be referenced to plan business strategies, to tap market opportunities, understand business related risks, derive business goals, to recognize trends, and understand target customers/end users
- Insights on recent technologies, pipeline products, regulations related with target market, market investment, and offers insights on political and economic factors that may influence market growth
- PEST Analysis, PORTER’s five forces analysis, opportunity map analysis, drivers and restraints impact analysis, and market attractiveness index
Global Electronic Article Surveillance Market Competitive Landscape & Key Players
- Checkpoint Systems, Inc.
- Tyco Retail Solutions
- Nedap (CTP) B.V.
- Hangzhou Century Co., Ltd
- Gunnebo Gateway AB
- Sentry Technology Corp.
- Ketec, Inc.
- All Tag Europe SPRL
- Universal Surveillance Systems Corp.
- Checkpoint Systems, Inc.
Global Electronic Article Surveillance Market Highlights
FAQs
The Electronic Article Surveillance Market is segmented into basis of type, application, and region.
Growing emphasis on retail security, demand for theft prevention solutions, and the adoption of electronic article surveillance for inventory protection drive the growth of the EAS market globally.
Challenges include potential operational disruptions, false alarms affecting customer experience, and the need for integration with other security systems, posing global restraints in the electronic article surveillance market.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating in the target market include Checkpoint Systems, Inc., Tyco Retail Solutions, Nedap (CTP) B.V., Hangzhou Century Co., Ltd, Gunnebo Gateway AB, Sentry Technology Corp., Ketec, Inc., All Tag Europe SPRL, and Universal Surveillance Systems Corp.