At 2.5% CAGR, the South America Electronic Article Surveillance Market is projected to be worth US$ 57.28 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South America electronic article surveillance market was valued at US$ 49.39 million in 2022 and is expected to reach US$ 57.28 million by 2028, registering a CAGR of 2.5% 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 South America electronic article surveillance market expansion.

Governments of various developed and developing nations are investing rapidly in the development of commercial infrastructure such as airports and shopping malls. This is offering lucrative business opportunities to the global retail industry for opening their stores and shopping malls, thereby attracting more customers. This development is expected to accelerate the retail industry across terminals catering to the passengers traveling every year. Hence, the demand for electronic article surveillance systems is expected to increase in the retail industry, which is likely to contribute to the growth of the market over the forecast period.  

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

Based on component, the South America electronic article surveillance market is sub segmented into electronic tag, electronic antenna, deactivator/detacher, and others. The electronic tag segment held 37.4% market share in 2022, amassing US$ 18.48 million. It is projected to garner US$ 22.41 million by 2028 to expand at 3.3% CAGR during 2022–2028.

Based on product type, the South 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 31.6% market share in 2022, amassing US$ 15.62 million. It is projected to garner US$ 19.59 million by 2028 to expand at 3.9% CAGR during 2022–2028.

Based on application, the South America electronic article surveillance market is segmented into apparel & fashion accessories, cosmetic & pharmaceuticals, and supermarkets & grocery stores. The apparel & fashion accessories segment held 45.4% market share in 2022, amassing US$ 22.40 million. It is projected to garner US$ 25.47 million by 2028 to expand at 2.2% CAGR during 2022–2028.    

Based on country, the South America electronic article surveillance market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 72.7% market share in 2022. It was assessed at US$ 35.92 million in 2022 and is likely to hit US$ 42.13 million by 2028, exhibiting a CAGR of 2.7% during the forecast period.

Key players dominating the South America electronic article surveillance market are Amersec Sro; Sensormatic Electronics Corp; Checkpoint Systems Inc; and Nedap NV are the leading companies operating in the South America electronic article surveillance market.

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