Asia Pacific Electronic Article Surveillance Market

The Asia Pacific electronic article surveillance market is expected to grow from US$ 335.74 million in 2022 to US$ 465.23 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2022 to 2028.

Increasing Construction of Commercial Complexes is Driving Asia Pacific Electronic Article Surveillance Market

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. To cater to the increasing passenger traffic and rising aircraft fleet, several countries such as China, India, Japan, Australia, have planned to construct new airports. In 2021, Melbourne International Airport started renovation activities, and the construction of Western Sydney Airport commenced in November of the same year. As per several aviation sources, seven of the top 10 expensive airport projects that entered the execution phase in 2021 were in Asia-Pacific. Similarly, the Civil Aviation Administration of China (CAAC) in 2021, China has planned to build 150 civil airports by the end of 2035. 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.   

Asia Pacific Electronic Article Surveillance Market Overview

The Asia Pacific electronic article surveillance market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The rapidly growing retail industry is primarily contributing to the APAC electronic article surveillance market growth. The industry has experienced exponential growth owing to the increasing population, which is directly proportional to the rise in demand for consumer electronics, fashion & apparel, and groceries. This is increasing the demand for several retail stores catering to the requirement for basic household products across the region, which is boosting the demand for electronic article surveillance across these stores. A few recent launches of retail stores across the region are mentioned below:

• In December 2022, Daiso Japan announced the opening of its new retail store in Mumbai, India, to expand its retail presence in the country.
• In June 2022, V2 Retail announced its plans to open 20 new stores for expansion across UP, the eastern part of India.
• In October 2022, Central Retail launched its new food stores in Thailand. The store offers approximately 8,000 product lines, thereby attracting a huge base of consumers.
• In July 2022, Mr. DIY added new stores in Thailand. The company also announced its plan to open several other stores in the country to expand its footprint by 2023.

Thus, the increasing number of retail stores across the region is likely to fuel the growth of the APAC electronic article surveillance market over the coming years.    

Asia Pacific Electronic Article Surveillance Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Electronic Article Surveillance Market Segmentation

The Asia Pacific electronic article surveillance market is segmented into component, product type, application, and country.

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 the largest market share in 2022.

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 the largest market share in 2022.

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 the largest market share in 2022. 

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. China dominated the market in 2022.

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.

Asia Pacific Electronic Article Surveillance Market Strategic Insights

Asia Pacific Electronic Article Surveillance Market Segmentation Analysis

Asia Pacific Electronic Article Surveillance Market Report Highlights

Asia Pacific Electronic Article Surveillance Report Scope

Asia Pacific Electronic Article Surveillance Market Country and Regional Insights