Market overview
In today's world, modern technology for security purposes has been increasing. The Electronic Article Surveillance (EAS) System is a system that retail stores and shopping complexes use. It is anti-theft technology that prevents shoplifting. When shoplifters attempt to take any item from the market, this technology will be useful as it is a system attached to every merchandise detected. In contrast, the shoplifter tries to get out through the electronic gate doors present in the doors. It helps the retail stores to protect the merchandise and helps in better management of the stores' security system, enhancing a better consumer experience, leading to an increase in the profit margin. The decrease in the logistic department and slowdown of the production of the raw materials in the pandemic affected the size of the market. Also, due to the shutdown, people chose online shopping rather than physical one, which also impacted the market's growth in the outbreak of the COVID19. Modernization of retail stores continuous increase of shoplifting acts as a driving factor for the market. The Electronic Article Surveillance (EAS) System Market provides quality, accuracy, reliability, and many more, stimulating growth. Recent government initiatives for the protection of merchandise are forming new opportunities for the market. The availability of cheaper substitutes of the system and the protective tag the consumer-facing difficulties creating hindrance in the Electronic Article Surveillance (EAS) System Market. Although it is a useful technology for newer shoplifters but the professional ones, it is not effective as they have a tool to deactivate the technology and carry it without getting caught through the alarm is a challenge for the market.
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Electronic article surveillance (EAS) system market was valued at USD 1,770 million in 2018 and is expected to reach USD 2,423.1 million by the end of the forecast period.
Market Segments
The Electronic Article Surveillance (EAS) System Market is segmented by type, application, and components. The market is divided into hard, soft, and deactivator or detacher and detection systems based on the segment type. Based on the application, the market is bifurcated into clothing and fashion accessories, cosmetics or pharmacy, supermarkets, large grocery, automotive and industrial. The component segment is divided into electronic antenna, deactivator, and electronic tag.
In this report, the electronic article surveillance market has been segmented into the following categories:
Electronic Article Surveillance Market, by Component:
- Tags
- Antennas & Detachers
Electronic Article Surveillance Market, by Technology:
- Video Wall
- Acousto-Magnetic
- Electro Magnetic
- Radio Frequency
- Microwave
Electronic Article Surveillance Market, by End User:
- Apparel and Fashion Accessories Stores
- Supermarkets and Mass Merchandise Stores
- Drug and Health Product Stores
- Others
Electronic Article Surveillance Market, by Geography:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- Japan
- South Korea
- India
- Rest of APAC
- Rest of the World (RoW)
- Middle East & Africa
- South America
Regional Analysis
The Electronic Article Surveillance (EAS) System Market is surrounded by North America, Europe, Asia Pacific and other parts of the world. In the region, the effective controlling of the crowd and proper management of the retail stores increases the size of the market. Due to the increasing security threats the region is making, the security concern is the key concern for the region, which leads to the growth of the Electronic Article Surveillance (EAS) System Market. the Electronic Article Surveillance (EAS) System Market is also rising the economic growth in turn. The Asia Pacific region is growing due to the presence of many manufacturers of electronic devices and containing an enormous consumer base in the region. Still, having an insufficient infrastructure of the country, India is expected to showcase a slow growth rate.
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Key Market Trends
- Tags are expected to witness significant demand during the forecasted period. The tags are being offered in various designs and sizes according to their applications. Vendors are innovating and launching new products at regular intervals. For instance, in March 2021, Prosegur Security introduced DoubleLock, a new EAS tag, which reduced the number of tag defeats by 60% in a use case. The Double Lock EAS tag incorporates a patented hook and magnet release mechanism, making this tag difficult to defeat.
- EAS tags come in multiple form factor types. The most common type is a pin that goes through the item, which is generally attached to the product’s tags with a looping wire. These EAS tags are compatible with AM and RF systems, and some work with RFID technology. Further Incorporation of EAS in clothing & fashion accessories is driven by the benefits provided, such as ease of application, reduced labor, open merchandising and brand enhancement, speed of delivery on the shop floor, and better customer experience.
- Source tagging has been an effective security strategy that retailers use to prevent theft, and it has become a commonly accepted practice. The process includes the direct application of electronic security tags to consumer products at the time of manufacturing and/or packaging the product.
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