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Based on end user, the market is divided into retailers, libraries, commercial entities, and others. The retailers segment is expected to register a CAGR of 5% during the forecast period. These segments also include the sub segments such as apparel & fashion stores, supermarkets & hypermarkets, electronics & appliance stores, pharmacies & drug stores, and others, boosting market growth.
Based on components, the electronic article surveillance market is divided into tags, antennas, and detachers. The tags segment dominated the global market with a revenue of over USD 1 billion in 2032.
North America dominated the global electronic article surveillance market in 2023, accounting for a share of over 35%. The market is characterized by a high level of technological adoption and innovation. The region's well-established retail industry, coupled with the rising incidence of retail theft, drives the demand for sophisticated EAS systems. The U.S. and Canada are major contributors to the market, with retailers investing in advanced EAS technologies such as RFID and integrated security solutions.
The focus on enhancing customer experience, reducing false alarms, and improving inventory visibility is propelling the growth of EAS systems. Furthermore, the integration of EAS systems with other retail technologies, including analytics and cloud-based solutions, is shaping the market landscape in North America. The region's robust infrastructure and technological advancements continue to support market growth.
In the U.S., the EAS market is driven by the need to address high retail theft rates and enhance store security. The extensive retail landscape, including large department stores, specialty retailers, and supermarkets, is driving the demand for advanced EAS systems. The U.S. market is characterized by significant investments in technology, including RFID and AI-powered EAS solutions. Retailers are focusing on improving loss prevention strategies, integrating EAS systems with other security measures, and enhancing the overall shopping experience. The growing emphasis on omnichannel retailing and real-time inventory management further fuels the adoption of EAS technologies in the U.S.
Japan's electronic article surveillance market is influenced by its highly developed retail sector and a strong focus on technological innovation. Retailers in Japan are adopting advanced EAS systems to address theft issues and enhance operational efficiency. The integration of RFID technology and sophisticated EAS solutions is prominent in the Japan market, driven by the country's emphasis on cutting-edge technology and automation. Additionally, Japan's commitment to improving store security and reducing inventory losses supports the market growth. The country's well-established retail chains and technological infrastructure contribute to the expansion of EAS systems.
China is a key market for EAS systems, driven by rapid urbanization, increasing retail expansion, and rising consumer spending. The country's burgeoning retail sector, including supermarkets, malls, and specialty stores, is fueling the demand for effective theft prevention measures. The integration of advanced EAS technologies, such as RFID and wireless solutions, is gaining traction in China as retailers seek to enhance security and optimize inventory management. Government initiatives and investments in infrastructure also support the EAS market growth. The rising focus on loss prevention and technological advancements in the Chinese retail sector contribute to market growth.
For instance, in July 2023, Coles Supermarkets, a subsidiary of Coles Group Ltd based in Australia, announced its expansion into Malaysia through a strategic partnership with Jaya Grocer Holdings Sdn Bhd. This collaboration introduced a diverse range of 200 products to the Malaysia market. This expansion is anticipated to drive the demand for EAS solutions and products in the region.
In South Korea, the electronic article surveillance market is growing due to the increasing adoption of advanced security solutions in the retail sector. The country's well-developed retail industry, coupled with a focus on reducing theft and improving store security, is driving the demand for EAS systems.
South Korean retailers are incorporating cutting-edge technologies, including RFID and integrated EAS solutions, too enhance inventory management and loss prevention. The emphasis on technological innovation and the need for efficient retail operations contribute to the market growth in South Korea. The country's advanced infrastructure and high consumer spending further support market growth.