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 technical innovation used by retailers, libraries, and other industrial sectors to reduce stealing, enhance inventory management, and make a store run more efficiently. EAS are used in clothes stores, fashion stores, cosmetic stores, supermarkets, and other major establishments, and include hard tags, soft tags, labels, detachers, and others. In recent years, significant technical innovation and steady growth in the retail sector have raised the possibility of theft, forcing retailers to embrace EAS.
Furthermore, the widespread adoption of inventory management and the elimination of wasteful operations in various industries, such as retail, may accelerate the deployment of the electronic article surveillance system in the near future. EAS can help make key decisions, read, analyze, and respond to operational data in real time. Detectors and controllers, labels and hard tags, and deactivators and detachers are all used. Furthermore, the EAS system is always being upgraded technologically. Furthermore, manufacturers are devoted to technological advancements in order to deploy the EAS system. The EAS Security System Market is predicted to grow as a result of these causes.
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Market Segmentation
The world electronic article surveillance (EAS) 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.
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.
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Key Players
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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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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