Report : Europe 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 5.1% CAGR, the Europe Electronic Article Surveillance Market is speculated to be worth US$ 345.56 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe electronic article surveillance market was valued at US$ 256.92 million in 2022 and is expected to reach US$ 345.56 million by 2028, registering a CAGR of 5.1% 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 Europe electronic article surveillance market expansion.
The rising investment by retail brands to expand their footprint across the globe is increasing the number of retail outlets of fashion & apparel, cosmetics & pharmaceuticals, and supermarkets & groceries. A few of the major retail brands focused on increasing their retail footprint are mentioned below:
• In December 2022, REWE announced the launch of its fully automatic store in Germany to expand its footprint and increase the adoption of technologies.
• In June 2022, Mango announced its intentions to open 70 new retail stores in France by 2025. Under its expansion strategy, the company is expected to establish 300 stores in France by 2025.
The growing number of initiatives by global retail brands to expand their outlets across the globe is increasing the need for various security solutions to prevent shoplifting, thereby boosting the demand for electronic article surveillance systems.
On the contrary, presence of unorganized retail sector hurdles the growth of Europe electronic article surveillance market.
Based on component, the Europe electronic article surveillance market is sub segmented into electronic tag, electronic antenna, deactivator/detacher, and others. The electronic tag segment held 35.8% market share in 2022, amassing US$ 91.86 million. It is projected to garner US$ 128.40 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on product type, the Europe electronic article surveillance market is segmented into radio frequency systems, acousto-magnetic systems, electromagnetic systems, and microwave systems. The acousto-magnetic systems segment held 38.3% market share in 2022, amassing US$ 98.36 million. It is projected to garner US$ 129.21 million by 2028 to expand at 4.7% CAGR during 2022–2028.
Based on application, the Europe electronic article surveillance market is segmented into apparel & fashion accessories, cosmetic & pharmaceuticals, and supermarkets & grocery stores. The apparel & fashion accessories segment held 43.5% market share in 2022, amassing US$ 111.78 million. It is projected to garner US$ 148.11 million by 2028 to expand at 4.8% CAGR during 2022–2028.
Based on country, the Europe electronic article surveillance market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 32.8% market share in 2022. It was assessed at US$ 84.35 million in 2022 and is likely to hit US$ 118.60 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.
Key players dominating the Europe electronic article surveillance market are Agon Systems Ltd; ALL-TAG Corp; Amersec Sro; Shopguard Ltd; Sensormatic Electronics Corp; Checkpoint Systems Inc; and Nedap NV are the leading companies operating in the Europe electronic article surveillance market.
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