Electronic Article Surveillance Market Size, Share, Growth, and Industry Analysis, By Type (Hard Tag, Soft Tag, Deactivator or Detacher, Detection System, Permanent Deactivation Tag) By Application (Clothing &Fashion Accessories, Cosmetics/Pharmacy, Supermarkets & Large Grocery, Others), Regional Insights, and Forecast To 2032

Updated On: 01 April 2024

Electronic Article Surveillance Market REPORT OVERVIEW

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The global electronic article surveillance market size was USD 1518 million in 2021 and market is projected to touch USD 2152 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.2% during the forecast period.

A technological tool called electronic article surveillance (EAS) can be used to lower retail theft, library book theft, and office building property theft. Special tags are used to label products and publications. The clerks take off or deactivate these tags once an item has been properly checked out or purchased. When a detection system notices active tags close to the exits of the store, it sounds an alarm or otherwise alerts the staff. Additionally, some businesses have detection equipment at the restroom doorways that will sound an alarm if someone tries to enter the restroom with unpaid goods.

One of the main factors propelling the expansion of the electronic article surveillance market is the increased need to prevent retail shrinkage as a result of rising occurrences of theft and shoplifting in order to provide customers with better shopping experiences in an increasing number of retail locations. Due to continued expansion in the retail industry and greater technology innovation, which forces shops to embrace EAS, the risk of theft has increased in recent years.

In the next years, several stores will be introduced thanks to the rise of cutting-edge technology-based retail automation solutions, such as electronic item surveillance to give both merchants and consumers with flexible and easy access. Inventory loss prevention, shoplifting prevention, and theft prevention are other factors pushing the market's adoption of EAS solutions.

COVID-19 Impact: Deactivators Cause Supply Chain Interruptions to Hamper Market Growth

Globally, COVID-19 has had a significant impact on both people and businesses. This market has serious problems as a result of location closures, personnel layoffs, supplier changes, or salary elimination. Security and surveillance are among the sectors that will be impacted by budget and personnel cuts. Due to a decline in demand brought on by the temporary closure of retail businesses including bookstores, supermarkets, and mass merchandisers, the electronic article surveillance market has experienced a considerable decline. Temporary shutdowns of manufacturing facilities for components like tags, antennae, and deactivators also cause supply chain interruptions.

LATEST TRENDS

"Benefits of Using Electronic Tags for Tracking System to Boost Market Growth"

Electronic tags improve item security, lowering the risk of theft. Tags that are in an active state cause an alert when they cross an EAS detection zone at a store's entrance or departure. The spread of electronic tags is being fuelled by the slow but steady growth of retail outlets brought on by an increase in consumer demand. In addition, expanding alliances and the introduction of new products throughout the sector will probably accelerate market expansion.

Electronic Article Surveillance Market SEGMENTATION

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• By Type

Based on type; the electronic article surveillance market is divided into Hard Tag, Soft Tag, Deactivator or Detacher, Detection System, Permanent Deactivation Tag.

In terms of product, Hard Tag type is the largest segment.

• By Application

Based on application; the electronic article surveillance market is divided into Clothing &Fashion Accessories, Cosmetics/Pharmacy, Supermarkets & Large Grocery, Others.

In terms of application, Clothing &Fashion Accessories is the largest segment.

DRIVING FACTORS

"Increasing Demand for RF Technology Industries to Enhance Market Growth"

The electronic article surveillance market share is now dominated by RF technology, and this trend is anticipated to persist over the projection period. The increased use of RF technology-based components by end users like clothing and fashion accessory retailers, supermarkets and mass merchandisers, and medication and health product retailers are what is driving the expansion of RF technology. The market for RF technology maintains a significant portion of the market due to its important advantages, which include ultra-wide detection distance, ease of installation and operation, low false alarm rate, strong anti-interference ability, and high stability and durability.  

"Technological Advancements in EAS System to Augment Market Growth"

The electronic article surveillance market is anticipated to develop at its fastest rate in APAC. A significant demand for EAS systems is anticipated to be driven by an increase in the number of retail outlets in the clothing and fashion accessory, grocery, and mass merchandise sectors. Due to the high economic growth, expanding consumerism, raising standards of living, rising disposable incomes, and altering lifestyles, there is a predicted increase in the demand for EAS systems in this region at supermarkets and mass retail outlets.

RESTRAINING FACTORS

"High Implementation Cost of Electronic Article Surveillance Systems to Constrain Market Growth"

The electronic article surveillance market growth hampered by the one aspect preventing the market from expanding is the high implementation cost of electronic article surveillance systems. Electronic article surveillance are straightforward instruments, but they are prone to providing inaccurate results without fastest rate in Asia Pacific.

Electronic Article Surveillance Market REGIONAL INSIGHTS

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Due to the rising number of mass merchandisers and supermarkets in the region, the Asia Pacific is anticipated to account for a major portion of the market for electronic article surveillance in the years to come. Additionally, the demand for EAS systems is projected to rise due to the region's rapid economic development, greater consumerism, rising living standards, rising disposable incomes, changing lifestyles, and an increase in the number of mass product outlets.

KEY INDUSTRY PLAYERS

The research provides a full overview of the analysis of the major electronic article surveillance industry aspects, including sales value, sales volume, market revenue, and demand size, as well as sales growth, pricing analysis, and changing regional market growth factors. The market participants and their respective positions within the industry are discussed in the report. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials contains information on producers, locations, types, applications, sales channels, and distributors.

List of Market Players Profiled

• Checkpoint Systems (U.S.)
• Tyco Retail Solutions (U.S.)
• Nedap (Netherlands)
• Hangzhou Century Co., Ltd (China)
• Gunnebo Gateway (Sweden)
• WGSPI (Italy)
• Ketec (Germany)
• All Tag (UK.)
• Universal Surveillance Systems (U.S.)

REPORT COVERAGE

The report helps in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns and so on. Includes a chapter on the impact of covid-19 pandemic on the market. The data is further compiled & validated through various market estimation & data validation methodologies. The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The report also provides information about the top-winning strategies implemented by industry players.