Shoplifting. A bane for retailers across the globe, leading to significant inventory losses and impacting profitability. This is where electronic article surveillance market (EAS) steps in. The EAS market, valued at USD 981 million in 2019, is projected to reach USD 1,173 million by 2024, reflecting a steady growth of 3.6% CAGR. Let's delve deeper into this market and understand the factors driving its expansion.

Guardians Against Theft:

EAS systems act as a silent deterrent against shoplifting. These systems consist of tags attached to merchandise and antennas placed at store exits. When a tagged item passes through the antenna without being deactivated at checkout, an alarm is triggered, alerting security personnel. 

Modernization of Retail:

The growth of the EAS market is intricately linked to the modernization of the retail sector. Traditional brick-and-mortar stores are increasingly adopting self-checkout kiosks and open floor plans to enhance customer experience. However, these advancements need to be balanced with effective security measures. EAS systems provide a solution, allowing retailers to maintain open layouts while safeguarding their inventory.

Beyond Retail:

While retail is the primary driver, the application of EAS is expanding beyond traditional stores. Libraries use EAS tags to protect books and other valuable assets. Museums and art galleries utilize these systems to deter theft of priceless artifacts. Even data centers are adopting EAS solutions to secure sensitive equipment.

Downlod PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=208098277

Technological Advancements:

Technological advancements are playing a crucial role in driving market growth. We're witnessing the rise of Radio Frequency Identification (RFID) tags, offering greater functionality compared to traditional barcodes. RFID tags can store additional information about the product, enabling functionalities like real-time inventory tracking and loss prevention analytics.

Market Segmentation:

The EAS market can be segmented based on various factors:

• Component: Tags, antennas, deactivators/detachers, and detection systems.
• Technology: RF (Radio Frequency), acoustic, electromagnetic.
• End-User: Apparel stores, electronics stores, libraries, museums, data centers.

Challenges and Opportunities:

While the future of EAS looks promising, there are challenges to address:

• Evolving Shoplifting Techniques: Shoplifters are continuously adopting new methods to bypass EAS systems. The industry needs to stay ahead of the curve by developing advanced detection technologies.
• Integration with Existing Systems: Integrating EAS with existing security and inventory management systems can be complex. Seamless integration will be crucial for wider adoption.

Looking Ahead:

The increasing need for inventory protection and the modernization of retail are creating fertile ground for the EAS market to flourish. Advancements in technology, coupled with the expansion into new application areas, point towards continued growth. As retailers invest in smarter security solutions, EAS systems are poised to remain a guardian against theft, ensuring a more secure and profitable future for businesses.

https://www.prnewswire.com/news-releases/speech-and-voice-recognition-market-worth-22-0-billion-by-2026--exclusive-report-by-marketsandmarkets-301363483.html
https://www.prnewswire.com/news-releases/speech-and-voice-recognition-market-worth-21-5-billion-by-2024-exclusive-report-by-marketsandmarkets-tm--836877819.html
https://www.prnewswire.com/news-releases/supercapacitor-market-worth-912-million-by-2027--exclusive-report-by-marketsandmarkets-301578759.html

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441