Electronic Article Surveillance System Market Growth, Size, Dynamics and Forecast to 2030
Electronic Article Surveillance System Market Segmentation
The world electronic article surveillance system market segment study is based on type and application.
The type based segments of the electronic article surveillance (EAS) system market are soft tag, hard tag, detection system, and deactivator or detacher.
The application-based segments of the electronic article surveillance (EAS) system market are cosmetic or pharmacy, clothing and fashion accessory, large grocery, supermarket, automotive, and industrial.
The major players functioning in the global electronic article surveillance (EAS) system market are recognized by MRFR, based on country of origin, regional branches, modern developments, industry expertise, and product line diversification. Some well established companies are; Tyco International PLC (US), CheckPoint Systems (US), Nedap NV (Netherlands), Sentry Technology Corporation (US), Gunnebo Gateway AB (Sweden), Industrial Security Solutions Inc (US), Ketec Inc (US), Universal Surveillance Systems (US), ALL-TAG Corporation (US), SPIE AGIS Fire & Security (Hungary), FE Moran Security Solutions (US), and STANLEY Security (US). These marketers contribute largely to expansion of the market, reports MRFR.
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Electronic Article Surveillance System Market Synopsis
Market Research Future (MRFR), in its latest electronic article surveillance system market 2020 report states that the expansion of the EAS system market is expected at a high pace. MRFR findings reveals that the global electronic article surveillance system (EAS) industry is poised to value at USD 2,423.1 Mn by 2025 from USD 1,770 Mn in 2018.
EAS is a technology innovation deployed by retailers, libraries, and other industrial sectors to prevent shoplifting, improve inventory management, and improve the efficient operation of a goods store. There are various types of EAS such as hard tags, soft tags, labels, detachers, and others that are used in clothing stores, fashion stores, cosmetic stores, supermarkets, and other large stores. The increasing technological advancement and constant growth in the retail sector have also increased the threat of theft in the past few years, which has compelled retailer to adopt EAS.
In addition, the high adoption of inventory management and to eliminate inefficient operations across different sectors, such as the retail sector can boost the expansion of the electronic article surveillance system in the near future. EAS can aid in making critical decision, interpret, analyze, and respond to real time operational data. They utilize detectors and controllers, labels & hard tags, and deactivators & detachers. Plus, EAS system is constantly experiencing technological upgradation. Moreover, manufacturers are committed to the upgradation of technologies to deploy the EAS system. These factors are expected to spur the expansion of the electronic article surveillance system market.
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Electronic Article Surveillance System Market Regional Analysis
North America EAS market can dominate the world market. The rise in security concerns, especially in retail stores can prompt the expansion of the market. The need for effective management and control of crowd in a retail store is one of the essential event that is taken care by the security in the US. The sole purpose behind the high adoption of EAS is to eliminate threatening situations, such as misuse or stealing product.
In Asia Pacific, the expansion of the electronic article surveillance system can be credited to the rise in the adoption in forecast period. The government of China is rooting the seed of economic deep. As the economic base of China strengthens, the largest consumer and manufacturer of electronic devices in APAC is expected to head the regional market. Economic fluctuations in certain regions of APAC can cause disturbance in the market. In Europe, potential research and developmental undertakings are expected to prompt the market rise in the years to come.