New York, United States, Oct. 25, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Electronic Article Surveillance Market Size to grow from USD 1,046.14 Million in 2021 to USD 1,463.4 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period. Electronic item surveillance (EAS) is an industry with a lot of different parts, like tags and antennas, that can be used. It stops people from stealing from stores like supermarkets, clothing and accessory boutiques, and other similar places by using technology. The fact that these products are sold in stores all over the world may have something to do with the growth of this industry.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The tags segment to account for the largest market size during the forecast period
Based on the component, the electronic article surveillance market is categorized into Tags, Antennas, and Deactivators/Detachers. The tags segment accounts for the largest market size during the forecast period. The tag that is attached to the item being watched is an important part of an electronic article surveillance (EAS) system. The tag is a small signal transmitter that is attached to the thing that is for sale. When an EAS tag gets close to one or more EAS antennas, it sends a signal to the antennas, making them sound an alarm. Putting tags on products, either in the form of a hard tag or a sticker, could happen when the product is being made, when it is being packed, or in a store. When a customer is checking out, a store staff member will use a deactivation pad or a detacher to turn off the tags. This will make it possible to remove the hard tag pin. Depending on what the tags will be used for, they can come in many different shapes and sizes. Merchants are always making new products and putting them on the market.
Browse key industry insights spread across 200 pages with 106 market data tables and figures & charts from the report “Global Electronic Article Surveillance Market Size, Share, and COVID-19 Impact Analysis By Component (Tags, Antennas, and Deactivators/Detachers), By End-User (Clothing & Fashion Accessories, Cosmetics/Pharmacy, Supermarkets, and Mass Merchandise Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2030.View a detailed Table of Content here
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The clothing & fashion accessories segment to account for the largest market size during the forecast period
Based on the end user, the electronic article surveillance market is categorized into Clothing & Fashion Accessories, Cosmetics/Pharmacies, Supermarkets, and Mass Merchandise Stores. The clothing & fashion accessories segment is to hold a higher CAGR during the forecast period. EAS is used in the clothing and fashion accessory industries because it is easy to set up, requires less labor, allows for open merchandising and brand development, speeds up delivery on the shop floor, and improves the customer experience. Radio Frequency Identification (RFID)-based solutions show exactly where and how many clothes and shoes are on their way from the factory to the store. This means that inventory costs can be cut, the number of items that are out of stock can be reduced, and sales and profits can go up.
Asia-Pacific to hold a higher CAGR during the forecast period.
The Global Electronic Article Surveillance Market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is estimated to account for the highest market share in 2022. Analysts think that the United States will have the biggest share of the North American market during the forecast period. In recent months, there have been more retail store openings all over the country. Ulta Beauty, for example, has said that they want to open forty more stores by 2021 and would spend a total of seventy million dollars on this. The company also planned to rebuild 11 stores in the U.S. and move 10 stores to new locations within the country. These kinds of investments have created a lot of opportunities in the EAS market in the area.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Electronic Article Surveillance Market include TAG Company (UK), Cross Point (The Netherland), Johnson Controls (Ireland), ALL-TAG Corporation (US), Amersec (Czech Republic), WG Security Products (US), Softdel (US), Agon Systems (UK), Shenzhen Emeno Technology (China), Takachiho Koheki (Japan), Checkpoint Systems (Canada), Stanley Security (US), Dexilon Automation (Spain), Feltron Security Systems (UAE), and Sentry Custom Security (Canada). And Prominent Key Players.
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