Market Size of Electronic Article Surveillance (EAS) Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.17 Billion |
| Market Size (2029) | USD 1.37 Billion |
| CAGR (2024 - 2029) | 3.29 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electronic Article Surveillance (EAS) Market Analysis
The Electronic Article Surveillance Market size is estimated at USD 1.17 billion in 2024, and is expected to reach USD 1.37 billion by 2029, growing at a CAGR of 3.29% during the forecast period (2024-2029).
- The increasing frequency of shoplifting incidents and organized retail crime has led retailers to invest in robust security solutions like EAS systems to protect their assets and minimize losses. The advancement of technology and innovations have impacted EAS systems in recent years.
- The threat of organized retail crime continues to grow around the world. Organized retail crime, from brazen thefts of goods by aggressive gangs to sophisticated ebuyer fraud teams, is an increasing concern for retailers. Hence, safeguarding against shoplifting, inventory losses, and theft is becoming a main issue for retail stores, generating demand for EAS products and thus boosting the growth of the market studied significantly.
- Shoplifting is a major cause of retail contraction. The increasing number of shoplifters worldwide has increased the demand for electronic merchandise surveillance systems, especially in the retail industry. Using EAS reduces the need for comprehensive surveillance in all areas, saving significant investments and providing security for the products.
- Moreover, the rising trend of digital operations and growing potential for growth in emerging markets are some of the significant opportunities for EAS providers. Apparel and fashion stores are expected to capture a large market share of EAS technology.
- However, aspects such as the need for extra investment to implement EAS solutions and disruptions in the retail industry affecting the demand are anticipated to be significant factors impeding the growth of the market studied throughout the forecast period.
- During the COVID-19 outbreak, the growth rate of the market slowed down significantly due to the temporary closure of stores worldwide, including clothing and fashion stores and other department stores. In the post-COVID-19 scenario, the retail sector is experiencing significant growth, which is expected to increase the demand for EAS.
