According to our latest research study on “Electronic Article Surveillance Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Product Type, Application, and Geography,” the market is expected to grow from US$ 1,116.07 million in 2022 to US$ 1,484.00 million by 2028; it is estimated to register a CAGR of 4.9% from 2022 to 2028.
The electronic article surveillance market growth in Asia Pacific is attributed to the presence of a large number of supermarkets operating in the region. According to Bscholarly LLC, in January 2023, out of the 46,000 outlets in total, the 7-Eleven supermarket had more than 21,800 outlets in APAC alone. Further, according to Red Hat, Inc., there is a rising adoption of technologies across APAC, which is transforming the region digitally and making it modern by simplifying business processes. This digitization is contributing to the modernization of the region’s retail industry. Many companies are introducing solutions to increase security and improve inventory management. For instance, Infotek Software & Systems (P) Limited, an Indian RFID Solutions provider company, provides RFID item-level identification and tagging solution. In addition, ATSS, an EAS system provider, provides anti-theft tags & labels and detachers to manage the inventory efficiently and reduce retail traffic. Thus, innovative solutions from key players in Asia Pacific are driving the market.
Electronic Article Surveillance Market Share – by Region, 2021
Electronic Article Surveillance Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Electronic Tag, Electronic Antenna, Deactivator/Detacher, and Others), Product Type (Radio Frequency Systems, Acousto-Magnetic Systems, Electromagnetic Systems, and Microwave Systems), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceuticals, and Supermarkets & Grocery Stores)
Electronic Article Surveillance Market Size and Share Study 2028
Download Free Sample
Source: The Insight Partners Analysis
The Europe electronic article surveillance market is growing at a large scale due to the presence of a large number of supermarkets across Europe during the forecast period. According to Bscholarly LLC, in January 2023, Aldi Supermarket was the world’s fourth-largest supermarket chain. It has more than 10,366 stores worldwide, with most of its stores in Germany, Belgium, Poland, Hungary, the UK, and Greece. Moreover, in February 2023, Agon Systems, an EAS solution provider, introduced AdvanPay-500 plus Concept Tag by partnering with Keonn, a supplier of advanced RFID systems. This tag solution is introduced to reduce loss prevention. Thus, the rising partnership between market players to launch new EAS solutions is propelling the demand for electronic article surveillance in the retail industry.
Impact of COVID-19 Pandemic on Electronic Article Surveillance Market
North America is an early adopter of emerging technologies due to favorable government policies to boost innovation and reinforce infrastructure capabilities. The COVID-19 pandemic led to drastic changes, which impacted the business of the retail industry in North America. The pandemic resulted in increased demand for digital shopping as consumers were restricted to their homes due to rules and regulations imposed by governments of various countries in North America. This highly impacted the adoption of electronic article surveillance in North America. Due to the government's request for essential business continuity, retail businesses such as supermarkets, drug stores, and convenience stores that offered food and daily-use products remained open during the pandemic. However, retailers of shopping goods and luxury items, such as apparel and home appliances, were considered nonessential. All these factors highly impacted the electronic article surveillance market growth in North America.
The global electronic article surveillance market size is segmented based on component, product type, application, and geography. Based on component, the electronic article surveillance market is segmented into electronic tag, electronic antenna, deactivator/detacher, and others. Based on product type, the electronic article surveillance market is categorized into radio frequency systems, acoustic-magnetic systems, electromagnetic systems, and microwave systems. Based on application, the electronic article surveillance market is classified into apparel & fashion accessories, cosmetics & pharmaceuticals, and supermarkets & grocery stores. The electronic article surveillance market size, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Sensormatic, Checkpoint Systems, ALL-TAG, Agon Systems, and Checkpoint Systems are among the key players operating in the electronic article surveillance market. During this study, several major smart water market players were analyzed to get a holistic view of the global market and its ecosystem.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com