Electronic article surveillance system is extensively used in the different segments of commercial sectors, government institutions, supermarkets and retail industries. Majorly the electronic surveillance system is used in supermarket and retail stores. Retail industries are currently suffering from increase in the number of shop-lifting cases which gradually increase their losses. Therefore, electronic article surveillance system aids to curb the shoplifting cases through hard, soft tags and detection system which are widely used in retail stores and supermarkets.
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According to Market Research Future Analysis, electronic article surveillance market has been valued at approx. USD 1600 million in 2016 and is expected to grow with 3.61% of CAGR during forecast period 2016 to 2022.
Electronic article surveillance system Market is segmented by type and by application. Based on type, Electronic article surveillance system market is bifurcated into hard tag, soft tag, deactivator or detacher and detection system. On the basis of end-use, electronic article surveillance system has been differentiated into clothing and fashion accessories, cosmetics/pharmacy, supermarkets & large grocery and others.
Market Research Future (MRFR) identifies the following companies as the key players in the electronic article surveillance market – are Checkpoint Systems(U.S.), Tyco International Ltd (Ireland), Nedap (The Netherlands), Hangzhou Century Co., Ltd, (China), Gunnebo Gateway (Sweden), Sentry Technology (U.S.), Ketec (U.S.), All-Tag Corporation (U.S), Universal Surveillance System (U.S)
Geographically, electronic article surveillance market has been bifurcated into of U.S, China, Europe, Japan, Korea, Taiwan and Rest of the World.
In terms of revenue, China led the market in Asia-Pacific region in the year 2017 and generated market revenue of USD 426.9 million and is expected to reach market value of USD 529.2 million by 2022.This is attributed to large number of electronic manufactures in China. Additionally, due to increased population in China and rising demand for the variety of fashionable clothes and cosmetics is expected to drive the market. However, Europe is expected to have a significant growth over the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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