Due to increasing shoplifting cases in supermarkets, the retail industry has suffered a huge loss in terms of both products as well as revenue. Therefore, the market for electronic article surveillance system is growing due to demand from the retail industry in order to curb the shop-lifting by connecting products with electronic tags that can help identify person stealing a tagged product. Market Research Future (MRFR) has published a research report about the global electronic article surveillance system market that estimates growth for this market at 3% CAGR (Compound Annual Growth Rate) during the forecast period between 2016 and 2025. By value, the market has been figured to be worth the US $ 2.02 bn by the end of the forecast period.
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The vital factor helping the electronic article surveillance system market to proceed towards growth is the growing demand for electronic article surveillance system by the retail industry. Other factors contributing to the market growth include technological advancement, growing incidents of shoplifting, and growing security concern at supermarkets. However, the increased competition among the manufacturers and constantly evolving technologies can hamper market growth.
The key players in the global electronic article surveillance system market include All-Tag Corporation (USA), Checkpoint Systems (USA), Gunnebo Gateway (Sweden), Hangzhou Century Co. Ltd. (China), Ketec (USA), Nedap (The Netherlands), Sentry Technology (USA), Tyco International Ltd (Ireland), and Universal Surveillance System (USA).
The global Electronic Article Surveillance System (EAS) Market has been segmented on the basis of application, type, and lastly, region. The application-based segmentation segments this market into clothing & fashion accessories, cosmetics/pharmacy, supermarkets & large grocery and others. During the forecast period, supermarket & large grocery segment is expected to grow at 4.38 % CAGR. By type, the market has been segmented into the hard tag, soft tag, deactivator or detacher, and detection system. During the forecast period, Soft tag segment is growing at approximately 4.43% CAGR.
The regional segmentation of the global electronic article surveillance system market has segmented the market into the regional markets known as China, Europe, Japan, Korea, Taiwan, USA, and rest of the world (RoW). During the forecast period, China is expected to be the leading regional market, and it is expected to grow at 4.45% CAGR due to the presence of a large number of companies in China.
Europe is the second largest regional market, and by the end of the forecast period, it is expected to be worth the US $ 423.2 mn. Due to the early adoption of technology, the USA is expected to register slow growth during the forecast period. By the end of the forecast period, as a regional market, the USA is expected to grow at 3.72% CAGR. During the forecast period, Korea is expected to grow at 3.19% CAGR whereas Taiwan is expected to grow at 2.60% CAGR. Both of these countries have decent technological advancement. Japan is a technologically advanced country. During the forecast period, the market can be expected to be stable in this country.
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 2025.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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Latest Industry News
Fast-fashion retailer Ardene is leveraging connected devices and solutions from Sensormatic Solutions to support its loss prevention strategy in order to expand its business. 28 FEB 2019
Checkpoint Systems is expanding its relationship with Polish fashion retail group LPP, with the deployment of a large-scale Radio Frequency IDentification (RFID) program in order to improve the consumer experience, merchandise availability, and the operational efficiency. 14 JAN 2019
Checkpoint Systems new HALO platform is being introduced as the new Internet of Things (IoT) platform for retail. Like most Checkpoint products, HALO is also helpful for electronic article surveillance. 15 JAN 2019
LIST OF TABLES
TABLE 1 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM MARKET SALES, BY TYPE (K UNITS)
TABLE 2 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM MARKET SHARE BY TYPE (%) 2012-2016
TABLE 3 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM SALES (VOLUME) BY APPLICATION (2012-2026)
TABLE 4 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM MARKET SALES, BY TYPE (K UNITS) (2012-2016)
TABLE 5 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM REVENUE BY TYPE (2012-2016) (USD MILLION)
LIST OF FIGURES
FIGURE 1 GLOBAL ELECTRONIC ARTICLE SURVEILLANCE (EAS) SYSTEM SALES VOLUME (2012-2025)
FIGURE 2 HARD TAG SALES (K UNITS) (2012-2016)
FIGURE 3 SOFT TAG SALES (K UNITS) (2012-2016)
FIGURE 4 DEACTIVATOR OR DETACHER SALES (K UNITS) (2012-2016)
FIGURE 5 DETECTION SYSTEM SALES (K UNITS) (2012-2016)
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