At 5.6% CAGR, the Asia Pacific Electronic Article Surveillance Market is projected to be worth US$ 465.23 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific electronic article surveillance market was valued at US$ 335.74 million in 2022 and is expected to reach US$ 465.23 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. Technology integration in electronic article surveillance systems and growing product development initiatives by key players are the critical factors attributed to the Asia Pacific electronic article surveillance market expansion.

The rise in technology adoption across retail outlets is increasing the demand for advanced security systems to reduce the risk of retail losses. Global electronic article surveillance market players are engaged in integrating advanced technologies to increase the efficiency of systems, thereby enabling real-time data of all inventory and products across the retail outlets. For instance, Agon Systems Ltd. offers a next-generation concept tag for retail loss prevention across the retail industry. The distinct locking technology and they the patented detacher helps retailers to reduce the risk of shoplifting by 50% compared to the traditional security tags. These concept tags are offered with integrated technologies such as radio frequency (RF) and acousto-magnetic technologies.

Similarly, Checkpoint Systems, Inc. offers NEO Systems integrated with wireless connectivity for easier installation and less cable requirement. It is directly connected to store networks through a cloud platform, which eliminates the need for middlemen such as security personnel and workers, thereby ensuring easy and accurate data collection of store activities. In addition, several companies are offering RFID-based EAS solutions for faster and more convenient checkout options. For instance, Nedap offers RFID tags for simplifying checkout across retail stores, thereby enhancing the overall customer experience. Therefore, all these factors are expected to contribute to the growth of the electronic article surveillance market over the coming years.  

On the contrary, presence of unorganized retail sector hurdles the growth of Asia Pacific electronic article surveillance market.

Based on component, the Asia Pacific electronic article surveillance market is sub segmented into electronic tag, electronic antenna, deactivator/detacher, and others. The electronic tag segment held 39.7% market share in 2022, amassing US$ 133.37 million. It is projected to garner US$ 194.13 million by 2028 to expand at 6.5% CAGR during 2022–2028.

Based on product type, the Asia Pacific electronic article surveillance market is segmented into radio frequency systems, acousto-magnetic systems, electromagnetic systems, and microwave systems. The acousto-magnetic systems segment held 38.2% market share in 2022, amassing US$ 128.17 million. It is projected to garner US$ 173.47 million by 2028 to expand at 5.2% CAGR during 2022–2028.

Based on application, the Asia Pacific electronic article surveillance market is segmented into apparel & fashion accessories, cosmetic & pharmaceuticals, and supermarkets & grocery stores. The apparel & fashion accessories segment held 44.5% market share in 2022, amassing US$ 149.37 million. It is projected to garner US$ 204.30 million by 2028 to expand at 5.4% CAGR during 2022–2028.    

Based on country, the Asia Pacific electronic article surveillance market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 34.5% market share in 2022. It was assessed at US$ 115.79 million in 2022 and is likely to hit US$ 170.97 million by 2028, exhibiting a CAGR of 6.7% during the forecast period.

Key players dominating the Asia Pacific electronic article surveillance market are ALL-TAG Corp; Amersec Sro; Shopguard Ltd; Sensormatic Electronics Corp; Checkpoint Systems Inc; and Nedap NV; Tekno Electro Solutions Pvt Ltd; Sabel Pty Ltd are the leading companies operating in the Asia Pacific electronic article surveillance market.     

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