The Electronic Article Surveillance (EAS) Systems Market is expected to grow from USD 1,723 million in 2018 to USD 2,156 million by 2026, at a CAGR of 2.80% during the forecast period. Growth in the number of theft or shoplifting incidents reported at retail stores of merchandise & books, increasing profits in the retail markets, growing need for better merchandise management, logistics control, and customer experience, which increases the profit margin, and the operational processes in the retail stores, emergence of walk-in shopping complexes in place of traditional stores and need for better security systems across various industries and applications against thefts are some of the driving factors of the market.
High initial investments and low-cost substitutes of EAS systems available in the market may restrain the growth of the Electronic Article Surveillance (EAS) Systems market.
EAS system is an anti-theft technology to prevent shoplifting, by attaching an electronically detectable tag to products. Whenever there is an unbilled item passing through the gates of the store, an alert is issued for the retailers through the electronic gate sensors.
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Key players with in Electronic Article Surveillance (EAS) Systems market are Sentry Technology Corp, Checkpoint Systems Inc., Tyco Retail Solutions, Tekno Electro Solutions, Ketec Inc., ALL-TAG Security Americas Inc., Hangzhou Century Co., Ltd, Nedap N.V., Universal Surveillance Systems and Tag Co.
For the purpose of this report, the market has been segmented on the basis of type, applications, business model, components and regional analysis.
Electronic Article Surveillance (EAS) Systems Market by type (Revenue, USD Million; 2018-2026)
Electronic Article Surveillance (EAS) Systems Market by applications (Revenue, USD Million; 2018-2026)
Fashion Accessories Stores
Electronic Article Surveillance (EAS) Systems Market, by components (Revenue, USD Million; 2018-2026)
Electronic Article Surveillance (EAS) Systems Market Regional Outlook (Revenue, USD Million; 2018-2026)
Middle East & Africa
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Further key findings from the report suggest
The Electronic Article Surveillance (EAS) Systems market is segmented by type into magnetic systems, acousto-magnetic systems, microwave systems and radio frequency systems. The radio frequency segment dominates the market with an approx. CAGR of 3.92% in the forecast period, since is relatively cheaper, making it an economical choice for small and mid-level retailers. Moreover, the smaller sized tags and labels can be another bane to the RF systems market.
The Electronic Article Surveillance (EAS) Systems market is segmented by application into supermarkets, apparel stores, cosmetics/pharmacy, and fashion accessories stores. The market for supermarkets segment is expected to witness highest growth of CAGR 3.72% during the forecast period, maximum reports of theft and uplifting reported in thie s segment.
The Electronic Article Surveillance (EAS) Systems Market is segmented by Geography into North, America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America, since has started an early adoption of the EAS systems, is expected to witness the highest growth in its CAGR 4.14% during the forecast period. Moreover, APAC leads the market, with a market share of USD 430.75 million in the base year, due to the domination of China, which is the home for some leading manufacturers of EAS systems.
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Key Questions Answered in the Report:
What will be the expected revenue growth of the Electronic Article Surveillance (EAS) Systems market till 2026?
What key factors are expected to drive revenue growth of the market?
What are the key drivers, restraints, opportunities, threats, and challenges the market will face in the coming years?
Which segment and region are expected to account for largest share in the market in the forecast period?
Which companies are operating in the Electronic Article Surveillance (EAS) Systems market?
What are the key outcomes of SWOT analysis and Porter's Five Forces analysis?
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