The electronic article surveillance global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electronic Article Surveillance Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electronic article surveillance market size has grown steadily in recent years. It will grow from $1.21 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to a rise in the globalization of retail brands, growth in e-commerce, growth in demand for luxury goods, rise in shoplifting awareness campaigns, and growth in insurance premiums.
The electronic article surveillance market size is expected to see steady growth in the next few years. It will grow to $1.51 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing retail theft incidents, a rising number of mass supermarkets, increasing demand for retail security solutions, growing urbanization, growing investments in retail infrastructure, increasing retail theft incidents, and a rising number of mass supermarkets. Major trends in the forecast period include technological advancements, RFID technology, integration with the Internet of Things, adoption of cloud-based solutions, and wireless EAS systems.
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Scope Of Electronic Article Surveillance Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electronic Article Surveillance Market Overview
Market Drivers –
The expansion in the retail industry is expected to propel the growth of the electronic article surveillance market going forward. The retail industry encompasses businesses directly selling goods or services to consumers, ranging from small local stores to large multinational chains. The expansion of the retail industry is due to shifts in consumer preferences towards online shopping, globalization allowing for broader market reach, and innovations in supply chain management enhancing efficiency and customer satisfaction. Electronic article surveillance is crucial in safeguarding merchandise, improving operational efficiency, and ensuring a secure shopping environment for retailers and customers. For instance, according to the National Retail Federation (NRF), a US-based retail trade association, retail sales in the United States are expected to increase between 2.5% and 3.5% in 2024, from $5.23 trillion to $5.28 trillion. Therefore, the expansion in the retail industry is driving the growth of the electronic article surveillance market.
Market Trends –
Major companies operating in the electronic article surveillance market are focused on developing innovative technologies, such as dual tag technology, to enhance retail security and inventory management capabilities. Dual tag technology refers to using two tags on a single item to enhance security and reduce theft. This technology typically combines Radio Frequency (RF) and Acousto-Magnetic (AM) tags, each with its unique detection method, providing a more robust and versatile security solution. For instance, in May 2021, SML Group Limited, a China-based company that provides RFID and trademark identification systems, launched GB24U dual tag technology, a dual tag technology combining item-level tracking abilities of RFID with the loss prevention capabilities of an electronic article surveillance (EAS) tag. This advanced solution offers distinctive features tailored to enhance efficiency and accuracy in inventory management. GB24U integrates UHF and HF RFID technologies, enabling comprehensive tracking capabilities across diverse product ranges. Its dual-frequency functionality ensures seamless compatibility with existing RFID infrastructures while providing robust data capture in various environments.
The electronic article surveillance market covered in this report is segmented –
1) By Type: Hard Tag, Soft Tag, Deactivator Or Detacher, Detection System, Permanent Deactivation Tag
2) By Technology: Video Wall, Acousto Magnetic System, Electro Magnetic, Radio Frequency, Microwave
3) By End User: Clothing And Fashion Accessories, Cosmetics Or Pharmacy, Supermarkets, Mass Merchandise Stores
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Regional Insights –
North America was the largest region in the electronic article surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic article surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electronic article surveillance market are Alibaba Group Holding Limited, Avery Dennison Corporation, ADT Inc. , Checkpoint Systems Inc., Gunnebo AB, Nedap N.V., Takachiho Koheki Co. Ltd., Hangzhou Century Co. Ltd., Sentry Technology Corporation, Sensormatic Solutions, WG Security Products Inc., Softdel Systems Pvt. Ltd., Adtech Systems Ltd., Shopguard Systems Ltd., Amersec, Ketec Inc., Everon Solutions Limited, Cross Point BV, Axle Systems, Agon Systems Ltd., ALL-TAG Corporation, Dexilon Automation, FE Moran Security Solutions, Feltron Security Systems, Safegear, Security Info Watch
Table of Contents
- Executive Summary
- Electronic Article Surveillance Market Characteristics
- Electronic Article Surveillance Market Trends And Strategies
- Electronic Article Surveillance Market – Macro Economic Scenario
- Global Electronic Article Surveillance Market Size and Growth
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- Key Mergers And Acquisitions In The Electronic Article Surveillance Market
- Electronic Article Surveillance Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Electronic Article Surveillance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Electronic Article Surveillance Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Electronic Article Surveillance Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Alibaba Group Holding Limited Financial Performance
Table 75: Avery Dennison Corporation Financial Performance
Table 76: ADT Inc. Financial Performance
Table 77: Checkpoint Systems Inc. Financial Performance
Table 78: Gunnebo AB Financial Performance
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