The global electronic article surveillance system Market is expected to reach at approx. USD 2.02 billion by 2022, growing with 3 % of CAGR between 2018 and 2022.
With increase in shoplifting cases in supermarkets, retail industry has suffered huge loss in terms of products as well as revenue. Therefore, retail industry is now focusing to purchase the anti-theft techniques to curb the shop-lifting cases. Electronic article surveillance system is one of those techniques to control the anti-theft cases in shopping malls, supermarkets and retail stores. The electronic article surveillance (EAS) system is comprised of tags which are generally connected with the products. These tags are removed at the time of purchase of the products, if the product is unpurchased at the counter and the customer tries to steal the product, the system can readily identify the specific person and theft can be avoided. Thus, EAS system enables to detect the shop-lifter through the tags. The rise in adoption of EAS system in retail industry and surging security concern at supermarkets and grocery outlets are expected to drive the electronic article surveillance market over the forecast period. On the other hand, increased competition among the manufacturers and constantly evolving technologies is expected to hinder the growth of the electronic article surveillance market over the forecast period.
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The prominent players in Electronic article surveillance system Market are Checkpoint Systems(U.S.), Tyco International Ltd (Ireland), Nedap (The Netherlands), Hangzhou Century Co., Ltd, (China), Gunnebo Gateway (Sweden), Sentry Technology (U.S.), Ketec (U.S.), All-Tag Corporation (U.S), and Universal Surveillance System (U.S).
Electronic article surveillance system Market is segmented by type and by application.
Based on type, Electronic article surveillance system market is bifurcated into hard tag, soft tag, deactivator or detacher and detection system.
Additionally, on the basis of end-use, electronic article surveillance system has been differentiated into clothing and fashion accessories, cosmetics/pharmacy, supermarkets & large grocery and others. Supermarket and large grocery segment was the prominent among them and was valued USD 787.0 million in 2016 and is expected to grow with 4.08% CAGR by 2022. Increased in the rate of theft cases in supermarkets and rising security concern is expected to drive the electronic article surveillance system market in supermarket and large grocery sub-segment. Also, clothing and fashion accessories is expected to have a significant growth over the forecast period.
Electronic article surveillance system market is categorized based on region and is comprised of U.S, China, Europe, Japan, Korea, Taiwan and Rest of the World.
China is expected to remain the leading country growing at 4.45% CAGR over the forecast period. This is attributed to the presence of large number of companies in China. Owing to early adoption of technology, the U.S is expected to be register slow growth and is projected to reach from 4.80 % in 2016 to 3.72% CAGR over the forecast period. Korea and Taiwan are expected to have steady growth rate with 3.19% and 2.60% CAGR over the forecast period.
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