The Electronic Article Surveillance (EAS) System Market was worth USD 1,770 million in 2018 and is expected to grow to USD 2,423.1 million by the end of the forecast period.
What are the various market dynamics influencing the Electronic Article Surveillance (EAS) System Market?
Installing a new Electronic Article Surveillance system, like any other business decision, should be carefully considered to maximize the return on investment as soon as possible. The cost of these Electronic Article Surveillance systems is determined primarily by several factors. The fixed initial costs are primarily influenced by the type of system chosen, the retail outlet’s size being protected, and the number of entryways requiring protection. Furthermore, the initial costs are also influenced by the delivery, how the antennas are installed, installation costs, and so on. Furthermore, the ongoing costs include system maintenance, tag and label replacement, and operating costs.
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Acousto-Magnetic (AM) technology protects a wide range of merchandise categories by combining them with various hard tags and robust labels. It is also resistant to body shielding and works well on liquids, metals, and products with foil packaging. These labels are also reusable and reactivatable.
Furthermore, a wide range of EAS tags on the market works well with AM systems for a wide range of merchandise. Furthermore, one of the most significant advantages of these AM tags is their ability to be scanned from a greater distance and at a faster rate, making them one of the most popular devices in anti-theft systems.
Shoplifters are becoming more sophisticated, working in groups or using technology to avoid detection. As a result, the retail industry loses billions of dollars each year. Retailers must stay ahead of the competition by implementing the most up-to-date security solutions to prevent loss prevention at their stores. In conjunction with RFID technology, the electronic article surveillance system is widely regarded as one of the most effective, successful, and scalable anti-shoplifting systems available to retailers today. With the opportunities the market provides to various vendors, the market is also seeing the entry of new players.
Market Size in 2027
USD 2,423.1 Million
CAGR 3.6% from 2020 to 2027
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
In-depth Market Research Report (92 Pages) on electronic article surveillance (EAS) system market: https://www.marketresearchfuture.com/reports/electronic-article-surveillance-system-market-5211
Impact of the COVID-19 on Electronic Article Surveillance (EAS) System Market
The emergence of the COVID-19 pandemic has significantly slowed electronic article surveillance (EAS) system market growth due to the temporary closure of retail outlets worldwide, such as clothing, fashion stores, and other department stores. Furthermore, with no new expansions planned during this period, demand for EAS systems is expected to be low.
As a result of the pandemic, the manufacturers could not obtain the necessary raw materials and components. However, the implementation of smart technologies in smart retail management, such as artificial intelligence and machine learning, has occurred in developed countries. These implementations have aided the industry’s overall growth.
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The presence of competitive players in the Electronic Article Surveillance (EAS) System Market
The major electronic article surveillance (EAS) system market players are Checkpoint Systems (Canada), Cross Point (The Netherland), TAG Company (UK), Johnson Controls (Ireland), Amersec (Czech Republic), ALL-TAG Corporation (US), Ketec (US), Softdel (US), WG Security Products (US), Agon Systems (UK), Takachiho Koheki (Japan), Shenzhen Emeno Technology (China). Market players have implemented various strategies to maintain market competition, such as product launches and business expansion.
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