The Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market is expected to grow from USD 1,847.1 Million in 2020 to USD 2,293.8 Million by 2028, at a CAGR of 2.80% during the forecast period. Growth in the number of theft or shoplifting incidents reported at retail stores of merchandise books, increasing profits in the retail markets, growing need for better merchandise management, logistics control, and customer experience, which increases the profit margin, and the operational processes in the retail stores, emergence of walk-in shopping complexes in place of traditional stores and need for better security systems across various industries and applications against thefts are some of the driving factors of the market.
High initial investments and low-cost substitutes of EAS systems available in the market may restrain the growth of the Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market.
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Top Profiled Companies in the Global Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market Report:
Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market are Sentry Technology Corp, Checkpoint Systems Inc., Tyco Retail Solutions, Tekno Electro Solutions, Ketec Inc., ALL-TAG Security Americas Inc., Hangzhou Century Co., Ltd, Nedap N.V., Universal Surveillance Systems and Tag Co.
Further key findings from the report suggest
- The Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market is segmented by type into magnetic systems, acousto-magnetic systems, microwave systems and radio frequency systems. The radio frequency segment dominates the market with an approx. CAGR of 3.92% in the forecast period, since is relatively cheaper, making it an economical choice for small and mid-level retailers. Moreover, the smaller sized tags and labels can be another bane to the RF systems market.
- The Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market is segmented by application into supermarkets, apparel stores, cosmetics/pharmacy, and fashion accessories stores. The market for supermarkets segment is expected to witness highest growth of CAGR 3.72% during the forecast period, maximum reports of theft and uplifting reported in thie s segment.
- The Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market is segmented by Geography into North, America, Europe, Asia Pacific, Latin America and Middle East Africa. North America, since has started an early adoption of the EAS systems, is expected to witness the highest growth in its CAGR 4.14% during the forecast period. Moreover, APAC leads the market, with a market share of USD 430.75 million in the base year, due to the domination of China, which is the home for some leading manufacturers of EAS systems.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
By Type (Revenue, USD Million; 2018-2028)
- Magneto-Harmonic
- Acousto-Magnetic
- Radio Frequency
- Microwave
By Applications (Revenue, USD Million; 2018-2028)
- Supermarkets
- Apparel Stores
- Cosmetics/Pharmacy
- Fashion Accessories Stores
By Components (Revenue, USD Million; 2018-2028)
- Electronic Antenna
- Deactivator/Detacher
- Electronic Tag
Notable Innovations of Electronic Article Surveillance (EAS) Systems for Radio-Frequency Market:
- RFID Technology: RFID technology is a significant innovation in the EAS market, allowing retailers to track inventory more accurately and efficiently, and reduce instances of theft. RFID tags are attached to products, and their signals are detected by RFID readers, enabling real-time inventory management.
- Acousto-Magnetic Technology: Acousto-magnetic (AM) technology is another significant innovation in the EAS market. AM systems use a transmitter and a receiver to create a magnetic field around the store entrance. When an item with an AM tag passes through the field, the tag's resonance triggers an alarm, alerting store personnel to a potential theft.
- People Counting Technology: People counting technology is an innovative way to monitor foot traffic in a retail store, which can help retailers optimize store layout and product placement. This technology uses sensors and algorithms to accurately count the number of people entering and exiting the store.
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