Electronic Article Surveillance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Electronic Article Surveillance System Market - Snapshot
Solutions and products in the global electronic article surveillance system market are fueled by innovations across the industries. These solutions from the vendors in the global electronic article surveillance system market are used in retail and industrial sectors for prevention of shoplifting, improving the operational efficiency, and enhance inventory management. There are several types of solutions in the global electronic article surveillance system market, such as soft tags, detachers, hard tags, and labels, among others. Solutions in the global electronic article surveillance system market are increasingly being used in various retail outlets such as clothing stores, cosmetic stores, fashion stores, and supermarkets, among others.
Solutions in the global electronic article surveillance system market offer critical decision support through capture, interpretation, analysis, and real time operational data management of stores, inventory, and employees. Solutions in the global electronic article surveillance system market have been witnessed to be capable of reducing external theft by 60 to 80 %. Players and manufacturers are developing new forms of products in the global electronic article surveillance system market and converting them into essential software tools. Integration of these new age solutions in the global electronic article surveillance system market with high resolution cameras aids store owners in effectively surveilling the premises.
The global electronic article surveillance system market experienced slowdown over the period of COVID-19 pandemic and subsequent lockdowns. This trend can be attributed to the temporary shutdown enforced by governments across the world on ‘non-essential’ goods stores. Majority of superstores, specialty stores, and novelty stores were shut during this period. This negatively impacted the growth of the global electronic article surveillance system market. The global electronic article surveillance system market is anticipated to witness a little sluggish growth over the next few years.
Electronic Article Surveillance Market: Overview
The global electronic article surveillance market is projected to expand at an impressive pace, thanks to the blooming retail industry.
The electronic article surveillance is actively used by retail businesses owing to its ability to prevent retail theft. These devices consist of an electronically-detectable tag that is attached to item of clothing or merchandise. In case, the device is not removed from the cloths it triggers alarms.
TMR Research has announced to add a report on the electronic article surveillance market to its vast repository. The report is expected to offer an in depth analysis of the industry with all important segments. Along with this, the report will help users with several vital data that will help indicating growth and latest trend in the electronic article surveillance market during the forecast period.
Electronic Article Surveillance Market: Notable Developments
Some of the recent development in the electronic article surveillance market are-
Players in the electronic article surveillance market are offering customized anti-theft tags for different types of items. For instance, different type of anti-theft tags for foods, hanging items, cloths. This will help retailers secure different types of items avaible in the store. This is expected to offer favorable gains to the players.
Some of the most prominent competitors operating in the competitive landscape of electronic article surveillance market include –
These players are adopting organic growth strategies such as mergers and accusations and market collaboration in order to stay ahead in the electronic article surveillance market in the coming few years.
Electronic Article Surveillance Market: Key Trends
The global electronic article surveillance market is expected to rise at a healthy pace from 2018 to 2028. This is mainly due to the booming retail sector. Increase in spending power, rise is global population and increase in number of retail step up are some of the prominent factors expected to drive the global electronic article surveillance market. In addition to this, surge in urbanization and industrialization are some other factors expected to offer a substantial response on the growth of the electronic article surveillance market. This is because urbanization and industrialization has a direct impact on the growth in number of retail growth.
However, despite several opportunities and drivers, growth in the electronic article surveillance market is hampered due to shifting consumer preference towards the ecommerce industry. Trade in ecommerce market is executed from online medium and hence does not need retail store.
Nevertheless, increase in construction of shopping malls coupled with rise in number of mega marts are expected to overcome the mentioned restraint factor and offer a significant boost to the global electronic article surveillance market during the forecast period.
Electronic Article Surveillance Market: Regional Outlook
On the basis of geography, the electronic article surveillance market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Among all these regions, Asia Pacific is expected to hold maximum share in the electronic article surveillance market. This is mainly due to the rise in commercial restate construction along with unprecedented increase in urbanization and industrialization in the region.
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