Electronic Article Surveillance System Market Insights
The global electronic article surveillance system market is likely to grow continually. Growing incidences of unauthorized access, theft, and criminal activities in industries and commercial & residential setups would boost the market growth. Market Research Future (MRFR) confirms that the article surveillance system market is poised to escalate from USD 1.1 BN in 2022 to USD 1.48 BN by 2032, growing at a 3.40% CAGR during the review period (2023-2032).
Electronic article surveillance (EAS) system is a proven technology to combat the increasing risk of ORC and other forms of shrinkage. The system provides retailers with a comprehensive solution to meet all their loss prevention needs, regardless of technology choice and store format, thus improving sales and staffing. The rising need to maintain safety in residential and commercial infrastructure boosts the demand for security solutions such as surveillance systems, intruder alarms, and electronic article surveillance.
With growing cases of shoplifting and store shrink, there is a need to have EAS solutions incorporated into every retail store. Increasing demand for Shrink Management as a Service (SMaaS) platform for improved equipment uptime and data analytics to help reduce shrink, control organized retail crime (ORC), and improve sales and staffing fosters the EAS market growth.
The increasing initiatives by retailers to improve their operational and business process efficiency boost the electronic article surveillance system market size. Moreover, the increasing focus on boosting operational efficiencies and profitability creates a significant demand for advanced tagging & tracking systems. Therefore, electronic article surveillance system markets worldwide are garnering significant traction.
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Major Players
Leading EAS system market players are
- Tyco International PLC (US),
- CheckPoint Systems (US),
- Nedap NV (Netherlands),
- Sentry Technology Corporation (US),
- Gunnebo Gateway AB (Sweden),
- Ketec Inc (US),
- Universal Surveillance Systems (US),
- ALL-TAG Corporation (US),
- FE Moran Security Solutions (US),
- SPIE AGIS Fire & Security (Hungary),
- Industrial Security Solutions Inc (US), and
- STANLEY Security (US), among others.
Global EAS System Market – Segments
The market is segmented into type, application, and region. The type segment is sub-segmented into hard tag, soft tag, deactivator or detacher, and detection system. The application segment is sub-segmented into clothing & fashion accessories, cosmetic/pharmacy, supermarket & large grocery stores, automotive, industrial, and others.
Electronic Article Surveillance System Market – Regional Analysis
North America dominates the global electronic article surveillance system market and is estimated to maintain its market position during the assessment period. Increasing security concerns at the shopping store and demand for efficient systems to manage & control sales in retail stores drive the EAS system market in the region. Additionally, the vast digitalization, technological advances, and growing number of retail stores in the region lead to higher adoption of EAS solutions.
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Electronic Article Surveillance System Market – Competitive Analysis
The highly competitive EAS system market appears fragmented with the presence of several well-established players. Mergers & acquisitions, innovation, and expansion remain key trends for the leading players as these strategic moves support their growth and expansion plans. They deliver reliable, leading-edge products and services by substantially investing in R&D to develop adept technologies and product portfolios.
Industry/Innovation/Related News:
Aug. 08, 2023 — CheckPoint Systems, a leading global provider of electronic article surveillance, announced the acquisition of Alert Systems, a Denmark–based pioneer in IoT devices designed for metal and magnet detection in the retail environment. Checkpoint’s technological solutions offer a connected approach to profitability and more seamless and engaging shopper experiences for retailers and brands.
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