Electronic Article Surveillance Market Size and Share Study 2028

Electronic Article Surveillance Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Electronic Tag, Electronic Antenna, Deactivator/Detacher, and Others), Product Type (Radio Frequency Systems, Acousto-Magnetic Systems, Electromagnetic Systems, and Microwave Systems), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceuticals, and Supermarkets & Grocery Stores)

  • Report Code : TIPRE00003038
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 170
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The electronic article surveillance market is expected to grow from US$ 1,116.07 million in 2022 to US$ 1,484.00 million by 2028; it is estimated to register a CAGR of 4.9% from 2022 to 2028.

The significant presence of the retail industry in North America is one of the major factors driving the electronic article surveillance (EAS) market. Major retail brands across the region include The Kroger Co., Costco, Best Buy, Carvana, The Home Depot, Target, eBay, and Walmart. Many expansion strategies, including the opening of several new retail stores across the region, have been adopted by the abovementioned brands. For example, in 2022, Target opened 23 new stores across different locations, such as New York, Texas, Pittsburgh, and South Carolina. Thus, the increase in the number of retail stores is further increasing the demand for electronic article surveillance solutions across the region.

In addition, the increasing number of shoplifting cases across North America is driving the demand for electronic article surveillance. According to the Retail Council of Canada, the retail sector in the country experienced theft of ~US$ 200 million a year before the onset of the COVID-19 pandemic. Furthermore, the rising cost of living is one of the factors catalyzing the increasing number of shoplifting cases across the country. These factors are propelling the demand for advanced security solutions across retail stores, thereby contributing to the electronic article surveillance market growth. In addition, several stringent government regulations and certifications, such as UCODE 9 IC, are launched to standardize security products across retail checkpoints and exit points, which is further influencing the North America electronic article surveillance market players to develop enhanced products.

 

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Electronic Article Surveillance Market: Strategic Insights

Electronic Article Surveillance Market

  • CAGR (2022 - 2028)
    4.9%
  • Market Size 2022
    US$ 1.12 Billion
  • Market Size 2028
    US$ 1.48 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Agon Systems
  • ALL-TAG Corporation
  • Amersec s.r.o.
  • Cross Point Middle East Technologies LLC
  • Feltron Security Systems LLC
  • Ketec, Inc.
  • Shopguard Limited
  • Tekno Electro Solutions
  • Sensormatic (Johnson Controls)

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Electronic Tag
  • Electronic Antenna
  • Deactivator/Detacher
  • Others
Product Type
  • Radio Frequency Systems
  • Acousto-Magnetic Systems
  • Electromagnetic Systems
  • Microwave Systems
Application
  • Apparel & Fashion Accessories
  • Cosmetic & Pharmaceuticals
  • Supermarkets & Grocery Stores
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

 

Impact of COVID-19 Pandemic on Electronic Article Surveillance Market

 

Lockdowns imposed by governments of various countries in Europe due to the onset of the COVID-19 pandemic resulted in the shutdown of several stores of apparel, fashion accessories, and cosmetics. As a result, the adoption of electronic article surveillance across these stores witnessed a decline, severely affecting the market growth. With the shutdown of nonessential businesses in 2020, clothing and apparel retail stores recorded high losses in sales. For instance, several apparel markets witnessed a step-change in the proportion of online sales due to lockdowns and shutdowns of stores. According to the Retail Economics forecasts, the UK is the most highly penetrated market, with 60% of apparel sales projected to occur online by 2025. All these factors led to a decline in the demand for electronic article surveillance in fashion stores.

Market Insights – Electronic Article Surveillance Market

The global retail industry witnessed growth owing to the rise in the standard of living of people. Major companies operating in the global electronic article surveillance market include Agon Systems, Amersec, Feltron Security Systems LLC, Johnson Controls, and Tekno Electro Solutions Pvt Ltd. These companies have been engaged in new product development over the years. A list of such developments is mentioned below:

  • In July 2022, Checkpoint Systems announced the launch of its new NS40 EAS antenna. The solution is easily integrated with retail solutions to control shoplifting incidents across retail stores.
  • In April 2021, Prosegur Security announced the launch of its new DoubleLock EAS tag with two separate use cases, reducing the tag defeat by 40–60%.
  • In March 2021, Prosegur Security announced the launch of its D-Arm Series EAS tags. The tags are integrated with a self-alarm, which is activated if removed with a magnet. The solution is designed to reduce retail loss due to shoplifting incidents.

Thus, the rising development of new electronic article surveillance systems such as electronic tags, antennae, and deactivators is driving the global electronic article surveillance market forecast.

Component-Based Insights

Based on component, the electronic article surveillance market is segmented into electronic tag, electronic antenna, deactivator/detacher, and others. The electronic tag segment accounted for the largest market share in 2021. An electronic article surveillance (EAS) tag is a crucial component of an EAS system. The tag is a small signal transmitter that gives the signal to the EAS antennas and generates an alarm when tried to take it out of the store without removing the same. Also, every store with a problem with shrinkage generally benefits from the quality tags as EAS antennas reduce shrinkage from 50 to 90%. Moreover, every store has different security needs, and electronic tags allow retailers to track inventory at the item level, so they are better prepared to make decisions about stocking and promotions. Also, many handheld devices contain internal RFID tags which are designed to set off electronic article surveillance sensors at store entrances. A clothing store has hard tags that are premium of all tags and have multiple lock mechanisms, making it extremely hard to remove by unauthorized individuals. Grocery stores face difficulties in tagging frozen items and items containing liquids or metal. Therefore, electronic tags or labels are attached to such products, and sensors are placed at store exits.

The global electronic article surveillance market size is segmented based on component, product type, application, and geography. Based on component, the electronic article surveillance market is segmented into electronic tag, electronic antenna, deactivator/detacher, and others. Based on product type, the electronic article surveillance market is categorized into radio-frequency, acoustic-magnetic, electromagnetic, and microwave systems. Based on application, the electronic article surveillance market is classified into apparel & fashion accessories, cosmetics & pharmaceuticals, and supermarkets & grocery stores. The electronic article surveillance market size, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Sensormatic, Checkpoint Systems, ALL-TAG, Agon Systems, and Checkpoint Systems are among the key electronic article surveillance market players operating across the world.

Electronic Article Surveillance Market Report Scope

Report Attribute Details
Market size in 2022 US$ 1.12 Billion
Market Size by 2028 US$ 1.48 Billion
Global CAGR (2022 - 2028) 4.9%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Component
  • Electronic Tag
  • Electronic Antenna
  • Deactivator/Detacher
  • Others
By Product Type
  • Radio Frequency Systems
  • Acousto-Magnetic Systems
  • Electromagnetic Systems
  • Microwave Systems
By Application
  • Apparel & Fashion Accessories
  • Cosmetic & Pharmaceuticals
  • Supermarkets & Grocery Stores
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Agon Systems
  • ALL-TAG Corporation
  • Amersec s.r.o.
  • Cross Point Middle East Technologies LLC
  • Feltron Security Systems LLC
  • Ketec, Inc.
  • Shopguard Limited
  • Tekno Electro Solutions
  • Sensormatic (Johnson Controls)
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    The electronic article surveillance market players are mainly focused on the development of advanced and efficient products.

    • In 2022, Noccela has a strategy for protecting our IPR, and we have been granted several patents already. This most recent patent, especially as it is a system-level patent, is another example of the continuous innovation of our team. It proves our solutions uniqueness and innovativeness and ability to develop end-to-end solutions with a product-market fit.
    • In 2022, Checkpoint System is expanding its relationship with Polish fashion retail group LPP, with the deployment of a large scale Radio Frequency Identification program to improve merchandise availability, operational efficiency, and the consumer experience. The program will be deployed across LPP’s entire supply chain from manufacturing through LLP’s eCommerce platform and to over 1,700 outlets spanning 23 countries.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component, Product Type, and Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which is the leading component segment in the electronic article surveillance market?

    The electronic tag segment led the global electronic article surveillance market in 2022.

    Which is the fastest growing regional market during the forecast period?

    APAC is the fastest-growing regional market in the global electronic article surveillance market between 2022-2028.

    Which countries are registering a high growth rate during the forecast period?

    The US, Germany, India, the UAE, and Brazil are the countries registering high growth rate during the forecast period.

    Which are the key players holding the major market share of electronic article surveillance market?

    The key players of electronic article surveillance market are encompassed with Agon Systems. ALL-TAG Corporation. Amersec s.r.o.; Cross Point Middle East Technologies LLC; Feltron Security Systems LLC; Ketec, Inc.; Shopguard Limited; Tekno Electro Solutions; Sensormatic (Johnson Controls); Checkpoint Systems; Sabel and Nedap.

    What are the driving factors impacting the global electronic article surveillance market?

    The key driving factors impacting electronic article surveillance market growth includes:
    1. Increasing Retail Outlets by Global Brands
    2. Growing Product Development Initiatives by Global Players
    3. Rising Number of Supermarkets

    What is the estimated global market size for the electronic article surveillance market in 2022?

    The global electronic article surveillance market was valued at US$ 1,116.07 Mn in 2022

    The List of Companies - Electronic Article Surveillance Market

    1. Agon Systems
    2. ALL-TAG Corporation
    3. Amersec s.r.o.
    4. Cross Point Middle East Technologies LLC
    5. Feltron Security Systems LLC
    6. Ketec, Inc.
    7. Shopguard Limited
    8. Tekno Electro Solutions
    9. Sensormatic (Johnson Controls)
    10. Checkpoint Systems
    11. Sabel
    12. Nedap

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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