Electronic Article Surveillance Market

Electronic Article Surveillance Market Size Survey Report – In a Glance

As per the survey report on global Electronic Article Surveillance Market, the market is projected to foresee a CAGR of 5.9% between 2024-2033, and further generate a market size of USD 2.3 billion revenue by the end of 2033. In the year 2024, the market size was valued at USD 1.5 billion revenue.

• The global Electronic Article Surveillance Market is projected to grow on account of growing retail theft and shrinkage.
• In Japan, the expanding retail industry can be attributed to the growth in the Electronic Article Surveillance Market.
• KDMI analyst’s growth analysis foresees technological restriction to challenge the market growth.
• North America, having the highest market share in the Electronic Article Surveillance Market, is projected to dominate the global market.

Electronic Article Surveillance Market Analysis

Electronic article surveillance, a security technology, detects and avoids theft in retail stores & uses electronic labels or tags attached to merchandise. The growing retail shoplifting and shrinkage predict the electronic article surveillance market growth. Retailers have been notified about a 93% expansion in the average number of shoplifting events every year in 2023 compared to 2019 and a 90% expansion in dollar loss because of shoplifting during the given period. Multi-person shoplifting has also increased, with 62% indicating that 2 to 3 individuals functioning together to steal several items is more problematic than a year ago. 76% agree that shoplifting associated with ORC is more difficult compared to what it was a year ago. Moreover, retailers capable of tracking such incidents observed a 57% increase on average in ORC occurrences from 2022 to 2023. Shenzhen Emeno Technology, Softdel and TAG Company are significant players in the global electronic article surveillance market.

Analyst’s Observation on Japan Electronic Article Surveillance Market Survey

EAS in the retail sector, a technology that avoids and stops theft from retail stores, has two significant components – EAS labels or tags attached to the produce. The growth of the Japanese retail sector bodes well for the Japanese electronic article surveillance market. Wholesale and retail trade are among the largest sectors in Japan, having a stable input of over 10% to the GDP. The Japanese retail sales increased 5.2% in April 2023 year after year, compared to 6.8% in March 2023. Retail turnover is anticipated to be 2.3% in the subsequent years. Takachiho Koheki is a significant player in the Japanese market for Electronic Article Surveillance.

Electronic Article Surveillance Market Growth Driver & Market Restraint

Growth Driver

Increasing implementation of digital operations:

Digital surveillance is a stress inducing element that results to job satisfaction with apt efforts. The incorporation of EAS with IoT and RFID, allowing real time tracking, enhanced inventory management and improved loss prevention. This trend is inducing the development of highly effective EAS. From 10% firms investing in digitalization in 2020 rose to 20% large firms and eventually it tripled to 30%. The digitalization or digital transformation is anticipated to grow at a CAGR of 23.9% till 2030 and the global spending on digital transformation in 2022 reached to USD 1.85. Further, by 2030, the number of IoT devices is expected to rise to 30 billion. The increasing implementation of digitalization drives the market growth of electronic article surveillance.

Market Restraint

Technological restriction:

Restriction such as false alarms, tag detachment problems and intrusion with other electronic devices impacts the dependability and effectiveness of EAS systems restraining their widespread adoption.

Electronic Article Surveillance Market Segmentation

Our experts at KD Market Insights have segmented the global Electronic Article Surveillance Market research report as:

Electronic Article Surveillance Market Regional Synopsis

North America is expected to dominate the Electronic Article Surveillance market due to the increase in e-commerce popularity & sales. The United Sales e-commerce sales rose to around USD 1.519 trillion as of 2023 from USD 1.040 trillion in 2022. The United States retail sales increased 8% from USD 6519 billion in 2021 to USD 7041 billion. The number of retail stores in the country is also rising prominently. According to the U.S Bureau of Labor Statistics, there are around 1076931 private retail establishments in the United States. EAS systems are quite prevalent in American retail stores, offering a critical line of defense in response to internal theft and shoplifting. According to the National Retail Foundation, shrinkage in the United States during 2022 rose to USD 112 billion loss, an increase of USD 18.2 billion from the past financial year. As per the data of the Loss Prevention Research Council, about 78% of United States retailers use EAS systems, about less than 30% use facial recognition.

Asia Pacific is the fastest-growing region due to the expanding and ever-changing Chinese retail sector due to the increasing wealth and novel technology, the public’s higher desire for quality is now giving rise to competition between distinct retailers, both foreign and local ones. Further, small formats in the region are becoming big business, which will intensify the competition in 2024. The sales values have shown a growth of 5.6% and there was a considerable improvement in the FMCG market of Mainland China in the 4th quarter of 2023 compared to the same period in the last year. The availability of organizations such as Ascend IoT produces EAS systems with a deep accumulation of experience and technology. The EAS systems in China are continuously evolving and the expanding application of RFID tag technology has driven the advancement further. EAS systems in India are a deterrence loss prevention mechanism that Indian retailers use to deter shoplifting with the use of electronic security towers.

Regional Company Names

• Checkpoint Systems
• ALL-TAG Corporation
• Ketec
• WG Security Products
• Softdel 

Electronic Article Surveillance Market Competitive Landscape

Some of the key players who top the global Electronic Article Surveillance Market share:

• Shenzhen Emeno Technology
• Softdel
• TAG Company
• Johnson Controls
• Checkpoint Systems
• Agon Systems
• ALL-TAG Corporation
• Amersec
• Ketec
• WG Security Products

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Electronic Article Surveillance Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Type
      2. By Component
      3. By Region
5. Market Segmentation by Type
   1. Magneto-Harmonic
   2. Acousto-Magnetic
   3. Radiofrequency
   4. Microwave
   5. Others
6. Market Segmentation by Component
   1. Tags
   2. Antennas
   3. Detachers
   4. Other
7. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component  
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component    
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Type and Component   
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type and Component   
8. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. Shenzhen Emeno Technology
      2. Softdel
      3. TAG Company
      4. Johnson Controls
      5. Checkpoint Systems
      6. Agon Systems
      7. ALL-TAG Corporation
      8. Amersec
      9. Ketec
      10. WG Security Products
      11. Others
9. Strategic Recommendations
10. Appendix
    1. List of Tables
    2. List of Figures
11. References