The electronic article surveillance market has shown steady growth, increasing from $1.21 billion in 2023 to $1.26 billion in 2024, representing a compound annual growth rate (CAGR) of 4.3%. This growth is supported by the globalization of retail brands, the rise of e-commerce, increased demand for luxury goods, heightened awareness of shoplifting, and growth in insurance premiums. The market is expected to continue its steady expansion, reaching $1.51 billion by 2028, with a CAGR of 4.6%. This forecasted growth is driven by rising retail theft incidents, the growing number of mass supermarkets, increased demand for retail security solutions, urbanization, and higher investments in retail infrastructure. Key trends include technological advancements, RFID technology, IoT integration, adoption of cloud-based solutions, and wireless EAS systems.
Major Driver In The Electronic Article Surveillance Market
The expansion of the retail industry is projected to significantly boost the growth of the electronic article surveillance market. The retail sector, encompassing both small local shops and large multinational chains, is expanding due to shifts towards online shopping, globalization, and innovations in supply chain management. Electronic article surveillance systems are crucial for protecting merchandise, improving operational efficiency, and ensuring a secure shopping environment. According to the National Retail Federation, retail sales in the United States are expected to rise between 2.5% and 3.5% in 2024, from $5.23 trillion to $5.28 trillion. This growth in retail sales highlights the increasing demand for electronic article surveillance systems to support an expanding retail landscape.
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Electronic Article Surveillance Market Competitive Landscape
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
Key Electronic Article Surveillance Market Trend
Major companies in the electronic article surveillance market are innovating with dual tag technology to bolster retail security and enhance inventory management. This technology employs two tags on a single item, integrating Radio Frequency (RF) and Acousto-Magnetic (AM) tags for improved theft prevention. For example, SML Group Limited launched its GB24U dual tag technology in May 2021, combining RFID item-level tracking with electronic article surveillance (EAS) capabilities. This solution not only enhances efficiency and accuracy in inventory management but also seamlessly integrates with existing RFID infrastructures, making it adaptable across various product ranges.
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Electronic Article Surveillance Market Segmentation
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
By Geography:The regions covered in the electronic article surveillance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Electronic Article Surveillance Global Market Report 2024 furnishes information about the global electronic article surveillance market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
