ID: MRFR/SEM/3773-CR | July 2019 | Region: Global | 92 pages
The global electronic article surveillance (EAS) system market was valued at USD 1,770 million in 2018 and is expected to reach USD 2,423.1 million by the end of the forecast period. EAS is a technology innovation deployed by retailers, libraries, and other industrial sectors to prevent shoplifting, improve inventory management, and improve the efficient operation of a goods store. There are various types of EAS such as hard tags, soft tags, labels, detachers, and others that are used in clothing stores, fashion stores, cosmetic stores, supermarkets, and other large stores. The increasing technological advancement and constant growth in the retail sector have also increased the threat of theft in the past few years, which has compelled retailer to adopt EAS. Additionally, inventory management and inefficient operations are one of the significant challenges the retail industry has been facing in recent times. EAS offers critical decision support by capturing, interpreting, analyzing, and responding to real time operational data of stores, employees, inventory, and shoppers. It has the capability of reducing 60-80% of external theft. EAS has three elements—detectors & controllers, deactivators & detachers, and labels & hard tags. The EAS system is continuously witnessing technological advancements. Various manufacturers are developing new technology to upgrade the EAS system and converting them into essential software. This software helps in monitoring the store with the help of high definition cameras
The global electronic article surveillance (EAS) system market has been segmented based on type, application, and region. By type, the electronic article surveillance (EAS) system market has been segregated into the hard tag, soft tag, deactivator or detacher, and detection system By application, the electronic article surveillance (EAS) system market has been divided into clothing and fashion accessory, cosmetic/pharmacy, supermarket, and large grocery, automotive, and industrial By region, the electronic article surveillance (EAS) system market has been classified as North America, Europe, Asia-Pacific, and the rest of the world.
Globally, the EAS system market has been categorized as four regions—North America, Europe, Asia-Pacific, and the rest of the world. The rest of the world segment has been further divided into the Middle East & Africa and South America. North America dominated the EAS market owing to the increasing security concerns at the shopping store. Effectively managing and controlling the crowd in a retail store has become an essential paradigm for the security authorities in the US. The purpose of adopting EAS is to avoid threatening situations such as stealing a product or misusing the product. The US economy is relatively stable with low-speed-growth, but in the future, the economy may go through ups and downs. On the other hand, Asia-Pacific is expected to witness a high adoption rate during the forecast period. The Chinese government is reforming the economic structure to increase growth. China is the largest manufacturer and consumer of electronic devices, however, in the past several years, Southeast Asia’s, economic fluctuations due to unsubstantial exchange rate fluctuations from China, has been affecting the market. In India, the economic aggregate is quite low, and the infrastructure is inefficient. In the long term, India is likely to observe a stable and moderate growth in the economy, due to its economic structure and bureaucratic system.
The presence of several global vendors characterizes the global electronic article surveillance (EAS) system market. A number of retailers are deploying electronic article surveillance (EAS) for improving loss prevention of inventory during customer hours. To serve this high demand from retailers, companies such as Checkpoint, All-Tag, Gunnebo, and other major companies are competing with each other as well as facing competition from other emerging small- & medium-size companies. Active distribution channel and proficiency of reaching goods to the customer on the desired time interval by an opponent is also playing a crucial role in increasing competition in the market. Moreover, cost, quality, accuracy, and reliability of products are some of the factors that help vendors to sustain in an intensely competitive market. Furthermore, technological advancements for the adoption of electronic article surveillance (EAS) systems are some of the factors that are expected to drive the growth of the electronic article surveillance (EAS) systems market during the forecast period.
The key players in the electronic article surveillance (EAS) system market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are CheckPoint Systems (US), Tyco International PLC (US), Nedap NV (Netherlands), Gunnebo Gateway AB (Sweden), Sentry Technology Corporation (US), Ketec Inc (US), ALL-TAG Corporation (US), Universal Surveillance Systems (US), FE Moran Security Solutions (US), Industrial Security Solutions Inc (US), SPIE AGIS Fire & Security (Hungary), and STANLEY Security (US). These players contribute significantly to market growth
Frequently Asked Questions (FAQ) :
The global electronic article surveillance system market is expected to reach a valuation of USD 2.4 billion by 2025.
Major types of electronic article surveillance system include hard tags, soft tags, deactivator or detacher, and detection systems.
Constant growth in the retail sector is likely to be the major driver for the global electronic article surveillance system market.
North America dominates the global electronic article surveillance system market.
Leading players in the global electronic article surveillance system market include Nedap NV, CheckPoint Systems, Tyco International PLC, ALL-TAG Corporation, Ketec Inc., Gunnebo Gateway AB, and STANLEY Security, among others.