Electronic Article Surveillance Market Share Worth $1.48 Billion, Globally, by 2028 – Increasing Retail Outlets by Global Brands | Comprehensive Report by The Insight Partners
New York, Feb. 27, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “
Electronic Article Surveillance Market
Size, Share, Growth, Trends and Global Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Electronic Tag, Electronic Antenna, Deactivator/Detacher, and Others), Product Type (Radio Frequency Systems, Acousto-Magnetic Systems, Electromagnetic Systems, and Microwave Systems), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceuticals, and Supermarkets & Grocery Stores)” the global electronic article surveillance market growth is driven by increasing construction of commercial complexes, technology integration in electronic article surveillance systems and rising number of supermarkets.
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Global Electronic Article Surveillance Market – Report Scope:
|Market Size Value in||USD 1.11 Billion in 2022|
|Market Size Value by||USD 1.48 Billion by 2028|
|Growth rate||CAGR of 4.9% from 2022 to 2028|
|No. of Pages||170|
|No. of Tables||83|
|No. of Charts & Figures||82|
|Historical data available||Yes|
|Segments covered||Component, Product Type, and Application|
Global Electronic Article Surveillance Market: Competitive Landscape and Key Developments
Sensormatic, Checkpoint Systems, ALL-TAG, Agon Systems, and Checkpoint Systems are among the key electronic article surveillance market players operating globally. During this study, several other market players were analyzed to get a holistic view of the electronic article surveillance market size and its ecosystem.
, Securitas Electronic Security, Inc has announced a strategic partnership with Nedap to provide retail, RFID, and cloud-based loss prevention solutions. This partnership expanded the SES offering to include Nedap’s retail offerings focusing on inventory visibility and seamless shopping experiences, including the EAS system.
, Telefonica Ingenieria de Seguridad, the Telefonica group company pioneer in comprehensive technological security, has partnered with the multinational Checkpoint system, a world leader in anti-theft and RFID solutions, for its continuous innovations and development of solution that help commercial establishment reduce theft.
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Electronic article surveillance (EAS) is a security technology that detects and prevents shoplifting in retail stores. Electronic article surveillance consists of electronic tags or labels attached to merchandise and sensors that are placed at store exits. An electronic article surveillance system is designed to detect unpaid items in consumers’ pockets or bags before they exit the store. Electronic article surveillance typically consists of two components: the EAS antennas and EAS tags or labels. EAS antennas are commonly installed at store entrances, and EAS tags and labels are attached to the merchandise to be protected. EAS antennas send and listen to signals at a specific frequency, usually within a range of six to eight feet. When an EAS tag or label passes between the antennas, it is detected, and the store alarm is activated. Electronic article surveillance systems are the most efficient and cost-effective way to protect stores, retail outlets, and office space from theft.
The rise in the adoption of EAS devices, especially in retail stores across the globe; the high adoption of acoustic-magnetic systems for broader protection in retail stores; and an increase in crime levels such as thefts and shoplifting in organized retail stores are among the factors driving the electronic article surveillance market. Further, the growth of the retail industry and an increase in automation in retailing are expected to provide lucrative growth opportunities for the electronic article surveillance market during the forecast period.
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Impact of COVID-19 Pandemic on Global Electronic Article Surveillance Market Growth:
The COVID-19 pandemic dramatically impacted the global economy during its peak in 2020. The crisis hampered business activities in various industries, such as apparel & fashion and retail. Stores shutdowns, trade bans, and border lockdowns were a few measures imposed to combat the spread of COVID-19. The onset of the COVID-19 pandemic forced grocery retailers to make many operational changes in response to public health concerns. It also led to a shift in customers’ shopping behavior owing to the lack of visitation to brick-and-mortar stores and a rise in the preference for online shopping. This, in turn, decreased the demand for electronic article surveillance amid the pandemic. Further, the pandemic led to huge disruptions in the supply chain of electronic article surveillance, which severely affected the market growth. For instance, according to a report by Appinventiv in July 2022, ~40% of companies, including grocery retail, were experiencing supply chain management issues due to the impact of the pandemic on industries. Due to the shutdown of fashion and apparel stores, procurement of new EAS was hampered. However, the increase in sales of sanitizers, medicines, cleaners, and grocery items during the pandemic boosted the sales of brick-and-mortar outlets. Therefore, the electronic article surveillance market has negative impact on its growth during the pandemic.
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Global Electronic Article Surveillance Market: Product Type Overview
Based on product type, the electronic article surveillance market size is segmented into radio-frequency, acousto-magnetic, electromagnetic, and microwave systems. The acousto-magnetic segment accounted for the largest share of the market in 2021. An acoustic-magnetic system is a radio-frequency identification (RFID) system for electronic article surveillance (EAS). It usually works at frequencies between 58 and 132 kHz, an excellent option in environments with colossal radio noise from other sources. Also, the acoustic-magnetic surveillance system works similarly to the radio-frequency system. When the tag or label enters the field, it vibrates and generates a signal, which is picked up by the antenna. Moreover, there is a growing adoption of acoustic-magnetic systems across consumer electronics, home improvement, grocery, and pharmaceutical stores. As acoustic-magnetic systems are suited to protecting merchandise with a high metal/foil content, they are commonly found in consumer electronics and hardware stores and pharmacies. Additionally, acoustic-magnetic systems are also suited for apparel stores because they cover wider entrances with fewer detection systems.
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