Global Electronic Article Surveillance Market Forecast to 2028 - Increasing Construction of Commercial Complexes Presents Opportunities


Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Electronic Article Surveillance Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Product Type, and Application" report has been added to ResearchAndMarkets.com's offering.

The electronic article surveillance market is expected to grow from US$ 1,116.07 million in 2022 to US$ 1,484.00 million by 2028; it is estimated to register a CAGR of 4.9% from 2022 to 2028.

The retail industry in Europe has experienced significant growth owing to the growing adoption of omnichannel business strategies by several retail brands. For instance, European brands such as Nordstrom and Louis Vuitton have significantly adopted the omnichannel model for business.

The region is also experiencing a significant rise in the number of retail outlets. For instance, in February 2023, Reserved announced its plans to open several new stores across the UK. Similarly, in May 2021, Action announced its plans to open 200 new stores across Europe over the next five years. Electronic article surveillance is increasingly adopted across retail stores to monitor inventory and signal the management if any product is leaving the retail campus without billing.

This is majorly adopted to reduce shoplifting cases. Thus, the rise in the number of retail stores across the region is driving the demand for electronic article surveillance, thereby contributing to the electronic article surveillance market growth.

Electronic article surveillance has a major application in the apparel & fashion accessories industry. The presence of global fashion brands such as H&M, ASOS, Prada, Burberry, Levi's, Gucci, Benetton, Ted Baker, and Promod, coupled with their investment to expand the number of retail outlets across the region, is boosting the demand for electronic article surveillance in the fashion industry.

For instance, in November 2022, Goldsmiths announced its plan to expand its operations across Europe by opening a new luxury concept store in England. Similarly, in August 2022, H&M opened its new stores in Costa Rica and North Macedonia. These factors are further contributing to the rise in demand for security solutions across the stores, thus, contributing to the growth of the Europe electronic article surveillance market.

Key Attributes:

Report AttributeDetails
No. of Pages170
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$1116.07 million
Forecasted Market Value (USD) by 2028$1484 million
Compound Annual Growth Rate4.9%
Regions CoveredGlobal

Market Dynamics

Drivers

  • Increasing Retail Outlets by Global Brands
  • Growing Product Development Initiatives by Global Players
  • Rising Number of Supermarkets

Restraints

  • High Presence of Unorganized Retail Sector

Opportunities

  • Increasing Construction of Commercial Complexes

Future Trends

  • Technology Integration in Electronic Article Surveillance Systems

Companies Mentioned

  • Agon Systems
  • ALL-TAG Corporation
  • Amersec s.r.o.
  • Cross Point Middle East Technologies LLC
  • Feltron Security Systems LLC
  • Ketec, Inc.
  • Shopguard Limited
  • Tekno Electro Solutions
  • Sensormatic (Johnson Controls)
  • Checkpoint Systems
  • Sabel
  • Nedap

For more information about this report visit https://www.researchandmarkets.com/r/v5btki

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

 
Global Electronic Article Surveillance Market

Coordonnées