The Europe electronic article surveillance market is expected to grow from US$ 256.92 million in 2022 to US$ 345.56 million by 2028. It is estimated to grow at a CAGR of 5.1% from 2022 to 2028.
Growing Product Development Initiatives by Key Players is Driving Europe Electronic Article Surveillance Market
The 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:
Thus, the rising development of new electronic article surveillance systems such as electronic tags, antenna, and deactivators is driving the growth of the electronic article surveillance market.
Europe Electronic Article Surveillance Market Overview
The Europe electronic article surveillance market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The retail industry in Europe has experienced significant growth owing to the growing adoption of omnichannel business strategies by several retail brands. For instance, European brands like Nordstrom and Louis Vuitton have significantly adopted omnichannel model for business. The region is also experiencing a significant rise in the number of retail outlets. For instance, in February 2023, reserved announced its plans to open several new stores across the UK. Similarly, in May 2021, Action announced its plans to open 200 new stores across Europe over the next 5 years. Electronic article surveillance is increasingly adopted across retail stores to monitor inventory and signal the management if any product is leaving the retail campus without billing. This is majorly adopted to reduce shoplifting cases. Thus, the rise in the number of retail stores across the region is driving the demand for electronic article surveillance, thereby contributing to the growth of the market.
Europe Electronic Article Surveillance Market Revenue and Forecast to 2028 (US$ Million)
Europe Electronic Article Surveillance Market Segmentation
The Europe electronic article surveillance market is segmented into component, product type, application, and country.
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 the largest market share in 2022.
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 the largest market share in 2022.
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 the largest market share in 2022.
Based on country, the Europe electronic article surveillance market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the market in 2022.
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.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 256.92 Million |
| Market Size by 2028 | US$ 345.56 Million |
| CAGR (2022 - 2028) | 5.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Electronic Article Surveillance Market is valued at US$ 256.92 Million in 2022, it is projected to reach US$ 345.56 Million by 2028.
As per our report Europe Electronic Article Surveillance Market, the market size is valued at US$ 256.92 Million in 2022, projecting it to reach US$ 345.56 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The Europe Electronic Article Surveillance Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Electronic Article Surveillance Market report:
The Europe Electronic Article Surveillance Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Electronic Article Surveillance Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Electronic Article Surveillance Market value chain can benefit from the information contained in a comprehensive market report.
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