Electronic Article Surveillance (EAS) Systems Market Size

[freemexy]

The Electronic Article Surveillance (EAS) Systems Market is expected to grow from USD 1,723 million in 2018 to USD 2,156 million by 2026, at a CAGR of 2.80% during the forecast period. Growth in the number of theft or shoplifting incidents reported at retail stores of merchandise & books, increasing profits in the retail markets, growing need for better merchandise management, logistics control, and customer experience, which increases the profit margin, and the operational processes in the retail stores, emergence of walk-in shopping complexes in place of traditional stores and need for better security systems across various industries and applications against thefts are some of the driving factors of the market. EAS system

High initial investments and low-cost substitutes of EAS systems available in the market may restrain the growth of the Electronic Article Surveillance (EAS) Systems market.EAS system is an anti-theft technology to prevent shoplifting, by attaching an electronically detectable tag to products. Whenever there is an unbilled item passing through the gates of the store, an alert is issued for the retailers through the electronic gate sensors.

The market can be segmented on the basis of end-users, EAS components and EAS system type. The EAS system type includes magnetic systems, acousto-magnetic systems, radio frequency systems and microwave systems. Magnetic systems are made up of strip of amorphous metal and detection is achieved with the help of transmitter and receiver. The EAS components consist of electronic antenna, deactivator or detacher and electronic tag. Antenna has electronic circuit board system which sounds alarm when electronic tags passes by it. EAS systems are being used in apparel and fashion accessories stores, cosmetics and pharmaceuticals, and supermarkets and large grocery stores. Employees having easy access to inventory store often steal retail goods. This segment reported for the highest retail shrinkage currently. Thereby, it is necessary to install EAS systems in these retail outlets. The cosmetics and pharmaceutical stores are more vulnerable to retail shrinkage as shoplifters focus on small and easily concealable items. These products include face creams and perfumes as well as pharmaceutical products such as fever, cold and coughcough and antibiotics medicine. Supermarkets and large grocery stores install EAS for managing their inventories and preventing thefts of all kind of products.