EAS Market – Overview:
Electronic cash register refers to a device used for scanning packages in order to read the symbols imprinted on the labels and hence can be registered and converted to readable form. It serves as a long term approach to deploy mobility. It serves as a device used to scan and keep records of sales and inventories.
Electronic article surveillance system market is segmented on the basis of type which includes soft tag, hard tag, deactivator or detector and detection system. The hard tag and soft tag are generally implemented in retailers, shopping malls and supermarkets such as Walmart, The Kroger company and many more. The tags connected in the products of clothing, cosmetic products used to avoid shoplifting cases and increases the efficiency in the inventory management. The advancement of Electronic article surveillance technology such as source tagging aids to save time and money. The technology provides smooth flow of logistic supply also manual labeling of the product is also avoided. The soft tag was the leading segment in the year 2016 and is expected to be the prominent subsegment over the review period from 2016-2022.
According to Market Research Future Analysis, Electronic Article Surveillance System Market has been valued at approx. USD 2029.7 million by the end of forecast period with 3.30% of CAGR during forecast period 2016 to 2022.
Electronic article surveillance system market has been differentiated on the basis of application the segment is categorized into clothing &fashion accessories, cosmetics/pharmacy, supermarkets & large grocery, automotive and industrial segments. China was the prominent country in the supermarkets& grocery segment in the year 2016, owing to increasing population and demand for the varieties of the product. Additionally, Due the presence of big giants such as Walmart in the U.S, the
However, rising adoption of electronic article surveillance system in retail industry and increased demand for the security concern at the shopping store is expected to drive the market over the forecast period. On the other hand, increase in competition among the manufacturers are expected to saturate the market which eventually hinder the growth of the market over the review period 2016-2022
Some of the prominent players in the global electronic cash register market are Toshiba Corporation (Japan), Foxconn Technologies (China), Casio Computer Co., Ltd. (Japan), Dell, Inc. (U.S.), Olivetti S.p.A. (Italy), Citaq Co. Ltd. (Germany), Fujitsu Ltd. (Japan), Hewlett-Packard (U.S.), Forbes Technosys (India) and Posiflex Technology Pvt. Ltd. (Taiwan).
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Increasing demand for mobile applications and growing popularity of e-commerce and online shopping are other major factors driving the growth of the global electronic cash register market. Furthermore, increasing awareness regarding tracking customer transactions, recording sales and calculating bills is boosting the growth of the market.
The global Electronic article surveillance system Market has generated market value of USD 1,600 million in 2016 and is expected to grow with CAGR of 3.30% during forecast period 2016- 2022.
By type, Soft tag in Electronic article surveillance system Market accounts for the largest market share and is growing with approximately 4.43% CAGR during forecast period.
By application, supermarket & large grocery sub segment has dominated the market in 2016 and is expected to grow with CAGR of 4.38 % by 2022.
Geographically, China has dominated the market in Asia-Pacific region in 2016 and has generated market value of USD 407.5 million. Also, European region is expected to be the second highest growing region and is anticipated to reach at USD 423.2 million by 2022.
Geographically, electronic article surveillance market has been bifurcated into of U.S, China, Europe, Japan, Korea, Taiwan and Rest of the World.
In terms of revenue, China led the market in Asia-Pacific region in the year 2017 and generated market revenue of USD 426.9 million and is expected to reach market value of USD 529.2 million by 2022.This is attributed to large number of electronic manufactures in China. Additionally, due to increased population in China and rising demand for the variety of fashionable clothes and cosmetics is expected to drive the market. However, Europe is expected to have a significant growth over the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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