Electronic Article Surveillance System (EAS) Market Opportunities

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Electronic Article Surveillance System (EAS) Market Opportunities

Due to increasing shoplifting cases in supermarkets, the retail industry has suffered a huge loss in terms of both products as well as revenue. Therefore, the market for electronic article surveillance system is growing due to demand from the retail industry in order to curb the shop-lifting by connecting products with electronic tags that can help identify person stealing a tagged product. Market Research Future (MRFR) has published a research report about the global electronic article surveillance system market that estimates growth for this market at 3% CAGR (Compound Annual Growth Rate) during the forecast period between 2016 and 2025. By value, the market has been figured to be worth the US $ 2.02 bn by the end of the forecast period.To get more news about eas system, you can visit estar-eassystem news official website.

The vital factor helping the electronic article surveillance system market to proceed towards growth is the growing demand for electronic article surveillance system by the retail industry. Other factors contributing to the market growth include technological advancement, growing incidents of shoplifting, and growing security concern at supermarkets. However, the increased competition among the manufacturers and constantly evolving technologies can hamper market growth.

Key Players

The key players in the global electronic article surveillance system market include All-Tag Corporation (USA), Checkpoint Systems (USA), Gunnebo Gateway (Sweden), Hangzhou Century Co. Ltd. (China), Ketec (USA), Nedap (The Netherlands), Sentry Technology (USA), Tyco International Ltd (Ireland), and Universal Surveillance System (USA).

Segments

The global Electronic Article Surveillance System (EAS) Market has been segmented on the basis of application, type, and lastly, region. The application-based segmentation segments this market into clothing & fashion accessories, cosmetics/pharmacy, supermarkets & large grocery and others. During the forecast period, supermarket & large grocery segment is expected to grow at 4.38 % CAGR. By type, the market has been segmented into the hard tag, soft tag, deactivator or detacher, and detection system. During the forecast period, Soft tag segment is growing at approximately 4.43% CAGR.

The regional segmentation of the global electronic article surveillance system market has segmented the market into the regional markets known as China, Europe, Japan, Korea, Taiwan, USA, and rest of the world (RoW). During the forecast period, China is expected to be the leading regional market, and it is expected to grow at 4.45% CAGR due to the presence of a large number of companies in China.

Europe is the second largest regional market, and by the end of the forecast period, it is expected to be worth the US $ 423.2 mn. Due to the early adoption of technology, the USA is expected to register slow growth during the forecast period. By the end of the forecast period, as a regional market, the USA is expected to grow at 3.72% CAGR. During the forecast period, Korea is expected to grow at 3.19% CAGR whereas Taiwan is expected to grow at 2.60% CAGR. Both of these countries have decent technological advancement. Japan is a technologically advanced country. During the forecast period, the market can be expected to be stable in this country.