Global Electronic Article Surveillance Market Report 2023-2028: Sector to Reach $1.55 Billion by 2028 at a 3.5% CAGR
DUBLIN, April 21, 2023 /PRNewswire/ -- The "Global Electronic Article Surveillance Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global electronic article surveillance market attained a value of USD 1264 million in 2022. Aided by the increasing concerns regarding retail shrinkage and theft, the market is projected to further grow at a CAGR of 3.5% between 2023 and 2028 to reach a value of USD 1556.27 million by 2028.
The increasing concerns regarding retail shrinkage and theft, along with the growing need for efficient inventory management and improved customer experience, have contributed to the growth of the global electronic article surveillance market. Efficient inventory management is crucial for retailers to optimize their operations, reduce costs, and enhance customer satisfaction. EAS systems, particularly those based on RFID technology, enable real-time tracking and monitoring of inventory, streamlining the inventory management process. The rising need for efficient inventory management has bolstered the demand for EAS solutions, contributing to the expansion of the electronic article surveillance market.
Technological advancements in EAS systems, such as the development and adoption of RFID-based solutions, have increased the efficiency and effectiveness of these systems. RFID technology enables improved tracking, faster inventory audits, and enhanced data collection, offering significant benefits over traditional EAS systems.
The increasing adoption of RFID-based EAS solutions has fuelled the growth of the electronic article surveillance market. EAS systems allow retailers to focus on enhancing the customer experience by reducing the time spent on manual inventory tracking and loss prevention efforts. By implementing EAS solutions, retailers can allocate more resources to improving customer service and in-store experience, leading to increased customer satisfaction and loyalty. This, in turn, has driven the demand for EAS systems in the retail sector.
The retail sector has witnessed significant growth in recent years due to factors such as urbanization, increasing disposable incomes, and changing consumer preferences. The expansion of the retail sector has led to an increase in the number of stores, resulting in a greater demand for EAS systems. The need for efficient loss prevention and inventory management solutions in the retail sector has contributed significantly to the growth of the electronic article surveillance market.
Governments worldwide have implemented regulations aimed at reducing retail crime and protecting retailers' profits. Such regulations have increased the adoption of EAS systems in the retail sector, fuelling the growth of the electronic article surveillance market.
Market Segmentation
The market can be divided on the basis of component, type, end use, and region.
Market Segmentation by Component
- Tags
- Antennas
- Deactivators/ Detachers
Market Division by Type
- Acoustomagnetic
- Electromagnetic
- Radio Frequency
- Microwave
Market Segregation by End Use
- Apparel and Fashion Accessories Stores
- Supermarkets and Mass Merchandise Stores
- Drug and Health Product Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Topics Covered:
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
4 Key Assumptions
5 Executive Summary
6 Snapshot
7 Opportunities and Challenges in the Market
8 Global Electronic Article Surveillance Market Analysis
9 North America Electronic Article Surveillance Market Analysis
10 Europe Electronic Article Surveillance Market Analysis
11 Asia Pacific Electronic Article Surveillance Market Analysis
12 Latin America Electronic Article Surveillance Market Analysis
13 Middle East and Africa Electronic Article Surveillance Market Analysis
14 Market Dynamics
15 Value Chain Analysis
16 Competitive Landscape
17 Key Trends and Developments in the Market
Companies Mentioned
- Johnson Controls
- ALL-TAG Corporation
- Ketec, Inc.
- WG Global GmbH
- Safegear
- Checkpoint Systems, Inc.
- Agon Systems Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xrv8bi
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SOURCE Research and Markets
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