Research Nester’s recent market research analysis on “Electronic Article Surveillance Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and a detailed overview of the global electronic article surveillance market in terms of market segmentation by component, end-user, technology, and by region.
Rising Demands to Mitigate Retail Shrinkage to Promote Global Market Share of Electrical Article Surveillance Market
The global electrical article surveillance (EAS) market is poised to register a profitable growth curve owing to rising demands for effective EAS systems to mitigate retail shrinkage by preventing shoplifting and employee thefts. EAS systems can also integrate advanced analytics to provide customer analytics for retail chains and assist in improving operational efficiency. Additionally, the surge in the expansion of retail chains globally boosts demands for the integration of robust EAS systems to improve customer experience and integrate security solutions.
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The market is expanding due to the rapid expansion of organized retail owing to emerging markets such as India, Thailand, Indonesia, etc., with rising disposable incomes increasing sales. This necessitates the installation of EAS systems in an increasing number of brick-and-mortar stores. Companies in this sector are investing in improving their EAS solutions to cater to burgeoning demands. For instance, in August 2024, Bar Code India launched Drishti, an IoT-based RFID reader, that is poised to benefit the supply chain industry.
Growth Drivers:
• Rising percentage of unmanned stores globally
• Robust growth of omnichannel retailing
Challenges:
Concerns about data privacy and security can stymie the adoption of EAS systems. Since, EAS systems store and collect data on customer behavior and purchases, it raises concerns regarding data privacy. Prevention of data breaches is another concern associated with customer data collection, as sensitive data can be prone to vulnerability.
By components, the global electrical article surveillance market is segmented into tags and antennas & dispatchers. The tags segment is projected to register a profitable growth curve by the end of the forecast period. The rising adoption of source tagging improves the efficiency of theft investigation and mitigates loss, as well as creating an extra layer of security through supplier accountability. Additionally, the growing popularity of printable tags owing to their cost-effective nature and versatility plays a part in the profit surge of the segment.
By region, the North America electrical article surveillance market is poised to register the largest revenue share by 2037. The growth is attributed to a robust retail ecosystem in the region that experiences large footfalls of shoppers necessitating effective EAS solutions to mitigate retail shrinkage. Additionally, the growth of unmanned stores in the region is poised to boost the market’s growth in the future. For instance, in December 2022, Aisle 24 expanded two cashier-less formats, one for ground-floor retail and one for residential buildings across Canada, and plans to expand to the U.S. in the future.
This report also provides the existing competitive scenario of some of the key players of the market i.e., Checkpoint Systems Inc., Johnson Controls, Avery Dennison Corporation, Nedap NV, Ketec Inc., Hangzhou Century Co., Ltd., Solink, and others.
Access our detailed report at:
https://www.researchnester.com/reports/electrical-article-surveillance-market/6656
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