Global Electronic Article Surveillance Market: Overview
In order to avoid shopping operations in retail outlets, electronic article surveillance (EAS) systems are used. These tags and labels are attached to goods in multiple shops, which are deactivated by employees when the products are purchased or inspected properly. It's a mechanism to safeguard goods, by electronically placing detectable tags on products and alerting distributors when shoplifters try to bring goods at exit gates in shops using electronic door detectors. This system contains an electronic antenna, an electronic tag and a deactivator or a detacher.
Electronically adjusted technology detects a product or item that is not checked in the shop and sounds an alert when that product moves through the doors of retail shops. Electronic article surveillance systems assist distributors manage goods better, control logistics more efficiently, improve their customer experience, increase the profit margin and improve the operations of the shop.
This report on the global electronic article surveillance market explores the driving factors, challenges crimping growth, and leading trends creating an impact. Notable developments in the industry that have an influence on the market’s growth trajectory are noted.
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Global Electronic Article Surveillance Market: Notable Developments
Some of the recent development in the global electronic article surveillance market are-
- In 2018, ALL-TAG introduced a Q-Tag solution, EAS and RFID, that guarantees the highest level of safety, versatility, effectiveness and security for software and appliances.
- As Japan-based multinational distributors improve technology and expand in Asia, Tyco Retail Solutions has opened its new office in Tokyo (Japan) in February 2016 to satisfy the increasing need for shop efficiency solutions in Japan. Tyco focuses on the increasing demand for new technologies from distributors.
- Tyco Retail Solutions has worked with Google Cloud to reinforce its market lead in real time analysis in the next generation and to store implementation and efficiency solutions in 2018. Google Cloud Platform offers Tyco Retail's world-class retail clients a future test infrastructure with worldwide scale, safety and efficiency. The new Google Cloud-based shop management service provides distributors with the ability to improve productivity and efficiency and efficiency of EAS systems in an innovative loss prevention generation.
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Global Electronic Article Surveillance Market: Growth Dynamics
The growth of the electronic article surveillance (EAS) market is driven by enhancing retail shopping modernization, growing cases of store lifting and the processing of traditional shops into walk-in shopping centres. In latest years, shoplifting methods have improved; thefts are looking at fresh technologies for theft products. This encourages distributors to take advantage of advanced anti-hop technologies such as EAS systems. Increasing numbers of resellers are investing in EAS schemes to assist retail revenues, in particular big distributors with several outlets.
Investors are being reduced and retailers are being affected by factors such as bad inventory management, unsuitable activities and stealing by staff and clients. It forces distributors to decrease operating costs by their employees. Hence the introduction of Loss prevention programs and EAS schemes in order to reduce shopping lifts and losses are urged to distributors.
The elevated price of the electronic surveillance scheme, however, is a factor restricting the expansion of the electronic article surveillance market.
Global Electronic Article Surveillance Market: Regional Outlook
In Asia-Pacific, the market for electronic item surveillance systems shows significant development as the area grows in contemporary retailing. A increasing number of retail shops are anticipated to generate substantial demand for EAS systems in the clothing and fashion accessories industry and the supermarket and solid goods industries. Due to strong economic growth, rising consumerism, increasing living standards, rising disposable incomes, and changing lifestyles, the supermarket and mass-merchandise outlets are increasing in amount and demand for EAS systems is anticipated to increase in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.