Market overview
In today's world, modern technology for security purposes has been increasing. The Electronic Article Surveillance (EAS) System is a system that retail stores and shopping complexes use. It is anti-theft technology that prevents shoplifting. When shoplifters attempt to take any item from the market, this technology will be useful as it is a system attached to every merchandise detected. In contrast, the shoplifter tries to get out through the electronic gate doors present in the doors. It helps the retail stores to protect the merchandise and helps in better management of the stores' security system, enhancing a better consumer experience, leading to an increase in the profit margin. The decrease in the logistic department and slowdown of the production of the raw materials in the pandemic affected the size of the market. Also, due to the shutdown, people chose online shopping rather than physical one, which also impacted the market's growth in the outbreak of the COVID19. Modernization of retail stores continuous increase of shoplifting acts as a driving factor for the market. The Electronic Article Surveillance (EAS) System Market provides quality, accuracy, reliability, and many more, stimulating growth. Recent government initiatives for the protection of merchandise are forming new opportunities for the market. The availability of cheaper substitutes of the system and the protective tag the consumer-facing difficulties creating hindrance in the Electronic Article Surveillance (EAS) System Market. Although it is a useful technology for newer shoplifters but the professional ones, it is not effective as they have a tool to deactivate the technology and carry it without getting caught through the alarm is a challenge for the market.
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Market Segments
The EAS System Market is segmented by type, application, and components. The market is divided into hard, soft, and deactivator or detacher and detection systems based on the segment type. Based on the application, the market is bifurcated into clothing and fashion accessories, cosmetics or pharmacy, supermarkets, large grocery, automotive and industrial. The component segment is divided into electronic antenna, deactivator, and electronic tag.
Regional Analysis
The Electronic Article Surveillance (EAS) System Market is surrounded by North America, Europe, Asia Pacific and other parts of the world. In the region, the effective controlling of the crowd and proper management of the retail stores increases the size of the market. Due to the increasing security threats the region is making, the security concern is the key concern for the region, which leads to the growth of the Electronic Article Surveillance (EAS) System Market. the Electronic Article Surveillance (EAS) System Market is also rising the economic growth in turn. The Asia Pacific region is growing due to the presence of many manufacturers of electronic devices and containing an enormous consumer base in the region. Still, having an insufficient infrastructure of the country, India is expected to showcase a slow growth rate.
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Industry News
SES, a provider of industry-leading experts in retail security, has announced a partnership with Nedap to provide retail, RFID and cloud-based loss prevention solutions.
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