Report : North America Electronic Article Surveillance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Electronic Tag, Electronic Antenna, Deactivator/Detacher, and Others), Product Type (Radio Frequency Systems, Acousto-Magnetic Systems, Electromagnetic Systems, and Microwave Systems), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceuticals, and Supermarkets & Grocery Stores)
At 4.7% CAGR, the North America Electronic Article Surveillance Market is speculated to be worth US$ 521.58 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America electronic article surveillance market was valued at US$ 395.45 million in 2022 and is expected to reach US$ 521.58 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. increasing retail outlets by various brands and growing product development initiatives by key players are the critical factors attributed to the North America electronic article surveillance market expansion.
The global retail industry witnessed growth owing to the rise in the standard of living of people. A few of the major companies operating in the global electronic article surveillance market include Agon Systems, Amersec, Feltron Security Systems LLC, Johnson Controls, and Tekno Electro Solutions Pvt Ltd. These companies have been engaged in new product development over the years. A list of such developments is mentioned below:
• In July 2022, Checkpoint Systems announced the launch of its new NS40 EAS antenna. The solution is easily integrated with retail solutions, thereby controlling loss of shoplifting across retail stores.
• In April 2021, Prosegur Security announced the launch of its new DoubleLock EAS tag with two separate use cases, reducing the tag defeat by 40-60%.
• In March 2021, Prosegur Security announced the launch of its D-Arm Series EAS tags. The tags are integrated with a self-alarm, which is activated if removed with a magnet. The solution is designed to reduce retail loss due to shoplifting incidents.
Thus, the rising development of new electronic article surveillance systems such as electronic tags, antenna, and deactivators is driving the growth of the global electronic article surveillance market.
On the contrary, presence of unorganized retail sector hurdles the growth of North America electronic article surveillance market.
Based on component, the North America electronic article surveillance market is sub segmented into electronic tag, electronic antenna, deactivator/detacher, and others. The electronic tag segment held 36.9% market share in 2022, amassing US$ 146.01 million. It is projected to garner US$ 202.64 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on product type, the North America electronic article surveillance market is segmented into radio frequency systems, acousto-magnetic systems, electromagnetic systems, and microwave systems. The acousto-magnetic systems segment held 37.8% market share in 2022, amassing US$ 149.30 million. It is projected to garner US$ 188.80 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on application, the North America electronic article surveillance market is segmented into apparel & fashion accessories, cosmetic & pharmaceuticals, and supermarkets & grocery stores. The apparel & fashion accessories segment held 46.5% market share in 2022, amassing US$ 183.86 million. It is projected to garner US$ 238.39 million by 2028 to expand at 4.4% CAGR during 2022–2028.
Based on country, the North America electronic article surveillance market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.8% market share in 2022. It was assessed at US$ 319.67 million in 2022 and is likely to hit US$ 424.72 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.
Key players dominating the North America electronic article surveillance market are ALL-TAG Corp; Amersec Sro; Ketec Inc; Shopguard Ltd; Sensormatic Electronics Corp; Checkpoint Systems Inc; and Nedap NV are the leading companies operating in the North America electronic article surveillance market.
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