PUBLISHER: The Business Research Company | PRODUCT CODE: 1546470
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546470
Electronic article surveillance (EAS) serves as a security measure in retail stores and other facilities to prevent theft. It operates by affixing electronic-detectable tags to items, which trigger an alarm upon passing through sensitized detection panels at store exits.
The primary categories of electronic article surveillance include hard tags, soft tags, deactivators or detachers, detection systems, and permanent deactivation tags. Hard tags, typically made of hard plastic or metal, are secured to merchandise to deter theft and require specialized tools for removal, ensuring robust protection against tampering. Various technologies such as video walls, acousto-magnetic systems, electromagnetic, radio frequency, and microwave are utilized across different sectors including clothing, fashion accessories, cosmetics, pharmacies, supermarkets, and mass merchandise stores.
The electronic article surveillance market research report is one of a series of new reports from The Business Research Company that provides electronic article surveillance market statistics, including electronic article surveillance industry global market size, regional shares, competitors with an electronic article surveillance market share, detailed electronic article surveillance market segments, market trends, and opportunities, and any further data you may need to thrive in the electronic article surveillance industry. This electronic article surveillance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electronic article surveillance market size has grown steadily in recent years. It will grow from $1.21 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth observed in the historic can be linked to the globalization of retail brands, expansion of e-commerce, increased demand for luxury goods, heightened awareness campaigns against shoplifting, and rising insurance premiums.
The electronic article surveillance market size is expected to see steady growth in the next few years. It will grow to $1.51 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. Anticipated growth in the forecast period is attributed to a rise in incidents of retail theft, proliferation of large-scale supermarkets, growing demand for retail security solutions, urbanization trends, investments in retail infrastructure, advancements in technology such as RFID and Internet of Things integration, adoption of cloud-based solutions, and wireless EAS systems becoming more prevalent.
The electronic article surveillance market is poised for growth, driven by the expanding retail industry. Retail encompasses businesses selling goods or services directly to consumers, from local stores to global chains. This growth stems from consumer shifts to online shopping, globalization, and advancements in supply chain management. Electronic article surveillance plays a vital role in safeguarding merchandise and improving operational efficiency, ensuring a secure shopping environment. For example, the National Retail Federation (NRF) forecasts a 2.5% to 3.5% increase in US retail sales in 2024, highlighting the sector's expansion driving demand for surveillance solutions.
Key players in the electronic article surveillance market focus on innovation, such as dual tag technology, to enhance retail security and inventory management. This technology combines Radio Frequency (RF) and Acousto-Magnetic (AM) tags on single items, bolstering security and reducing theft. For instance, SML Group Limited launched GB24U dual tag technology in May 2021, integrating RFID's item-level tracking with EAS's loss prevention capabilities. This solution supports efficient inventory management across diverse products, compatible with existing RFID systems.
In April 2023, Checkpoint Systems acquired Alert Systems, a Denmark-based EAS provider, aiming to strengthen its retail crime prevention capabilities. This strategic move integrates Alert Systems' technologies into Checkpoint Systems' portfolio, enhancing theft prevention and operational effectiveness in retail environments.
Major companies operating in the electronic article surveillance market are Alibaba Group Holding Limited, Avery Dennison Corporation, ADT Inc., Checkpoint Systems Inc., Gunnebo AB, Nedap N.V., Takachiho Koheki Co. Ltd., Hangzhou Century Co. Ltd., Sentry Technology Corporation, Sensormatic Solutions, WG Security Products Inc., Softdel Systems Pvt. Ltd., Adtech Systems Ltd., Shopguard Systems Ltd., Amersec, Ketec Inc., Everon Solutions Limited, Cross Point BV, Axle Systems, Agon Systems Ltd., ALL-TAG Corporation, Dexilon Automation, FE Moran Security Solutions, Feltron Security Systems, Safegear, Security Info Watch
North America was the largest region in the electronic article surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic article surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electronic article surveillance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electronic article surveillance market consists of revenues earned by entities by providing services such as security systems, deactivation and reuse, detection of unauthorized removal, and alarm activation. The market value includes the value of related goods sold by the service provider or included within the service offering. The electronic article surveillance market also includes sales of radio frequency identification (RFID) tags, detection systems, library security strips, and deactivators and detachers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electronic Article Surveillance Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electronic article surveillance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electronic article surveillance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electronic article surveillance market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.