Electronic Article Surveillance System Market Size, Share, Future Growth, and Forecast by 2022-2030

Electronic Article Surveillance System market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Electronic Article Surveillance System market by region.

The global electronic article surveillance system Market is projected to reach the approx. value of USD 2.02 billion by the year 2022, growing at a CAGR of 3% during the forecast period 2016 to 2022.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market Electronic Article Surveillance System.

Global Electronic Article Surveillance System Market, by Type (Hard Tag, Soft Tag, Deactivator or Detacher and Detection System), By Application (Clothing & Fashion Accessories, Cosmetics/Pharmacy, Supermarkets & Large Grocery and Others) - Forecast 2022

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Market analysis

With the growing cases of shoplifting in various supermarkets, the retail industries has suffered a substantial amount of loss in terms of its revenue as well as products. Thus, the retail industry is now moving towards the purchase and installation of the anti-theft systems. The electronic article surveillance (EAS) system is one of the major techniques in controlling the anti-theft techniques for curbing the menace of shoplifting cases in supermarkets, shopping malls and retail stores. The growth in the EAS system adoption and the growing security concerns is augmenting the growth of the global electronic article surveillance market. The global electronic article surveillance system Market is projected to reach the approx. value of USD 2.02 billion by the year 2022, growing at a CAGR of 3% during the forecast period 2016 to 2022.

Market segmentation

The Global Electronic article surveillance system Market is classified on the basis of its type and end-user industry. On the basis of its type, the Electronic article surveillance system market is segmented into soft tag, hard tag, detacher or deactivator and the detection system. Based on its end-users, the market has been classified into cosmetics/pharmacy, clothing and fashion accessories, large grocery & supermarkets among others.

Regional analysis

Geographically, the Global Electronic article surveillance system Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

The major players in the Electronic article surveillance system Market are Hangzhou Century Co., Ltd, (China), Gunnebo Gateway (Sweden), Checkpoint Systems(U.S.), Tyco International Ltd (Ireland), Nedap (The Netherlands), Sentry Technology (U.S.), Ketec (U.S.), Universal Surveillance System (U.S), All-Tag Corporation (U.S), among others.

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments' initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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