Global Electronic Article Surveillance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Global Electronic Article Surveillance Market was valued at USD 974.7 million in 2020 and is expected to reach USD 1,190.9 million by 2026, registering a CAGR of 3.60%, over the forecasted period. Owing to the emergence of the COVID-19 pandemic, the market growth has significantly slowed down due to the temporary shutdown of retail outlets around the globe, such as clothing, fashion stores among other types of departmental stores. Further, with no new expansions in this period, the demand for EAS systems is expected to be sluggish.

• The protection against inventory losses, shoplifting, and theft are the major reasons for the adoption of EAS products, thus driving the market. For instance, according to the NRF (National Retail Federation), organized retail crime (ORC) costs the retail industry around USD 30 billion every year. Also, according to the National Retail Security Survey (NRRS), a major cause of shrinkage for the retail business is shoplifting. All these instances have forced the retailers to implement a solution that can prevent theft, thereby driving the demand for EAS.
• Moreover, the number of shoplifting offenses in England and Wales in 2019-2020 accounted for 359.24 thousand, according to the Office for National Statistics (UK). Owing to the increasing shoplifting cases across the globe, the application of EAS reduces the need for extensive surveillance in every area, which saves a large amount of investment, along with providing maximum safety and security of the products.
• Further, companies are investing hugely in this technology of smart labels. For instance, ThinFilm from Oslo launched a smart label for electronic product security, in order to improve traditional Electronic Article Surveillance (EAS) technology. The result was a new category of anti-shoplifting labels that is easy to incorporate into merchandise and is compatible with the world’s 8.2 MHz radiofrequency EAS infrastructure.
• Moreover, the increased inclination toward digital operations and augmented growth potential in emerging economies are some of the principal opportunities for EAS providers. The clothing & fashion accessories products stores are anticipated to have a major market share of the EAS technology.

Scope of the Report

Electronic article surveillance (EAS) market provides components, such as Tags, Antennas. Through the technological procedure, it prevents shoplifting from retail stores, such as clothing & fashion accessories, supermarkets, etc.

The scope of the report covers components such as Tags, Antennas, deactivators/detachers and end-users catering to clothing & fashion accessories, cosmetics/pharmacy, supermarkets, and mass merchandise stores, and also covers the major geographical regions.

Report scope can be customized per your requirements. Click here.

Key Market Trends

Tags to Witness Significant Market Growth

• Tags are expected to witness significant demand during the forecasted period. The tags are being offered in various designs and sizes according to their applications. Vendors are innovating and launching new products at regular intervals. For instance, in March 2021, Prosegur Security introduced DoubleLock, a new EAS tag, which reduced the number of tag defeats by 60% in a use case. The Double Lock EAS tag incorporates a patented hook and magnet release mechanism, making this tag difficult to defeat.
• EAS tags come in multiple form factor types. The most common type is a pin that goes through the item, which is generally attached to the product’s tags with a looping wire. These EAS tags are compatible with AM and RF systems, and some work with RFID technology. Further Incorporation of EAS in clothing & fashion accessories is driven by the benefits provided, such as ease of application, reduced labor, open merchandising and brand enhancement, speed of delivery on the shop floor, and better customer experience.
• Source tagging has been an effective security strategy that retailers use to prevent theft, and it has become a commonly accepted practice. The process includes the direct application of electronic security tags to consumer products at the time of manufacturing and/or packaging the product.
• Further players are innovating and expanding existing technology in tags integrating with AM or RF technology to provide solutions for any retail products. For instance, in Jan 2020, Checkpoint Systems added the Alpha ShoeLok to its line of specialized tags to protect against retail footwear theft. It unlocks with an Alpha S3 HandKey, Multi-Detacher, Super S3 Key providing a two-alarm system making it a high-security solution.

To understand key trends, Download Sample Report