EAS Antennas Market To Reach USD 499.2 Million By 2032, Says DataHorizzon Research
The EAS antennas market size was valued at USD 355.2 Million in 2023 and is expected to reach a market size of USD 499.2 Million by 2032 at a CAGR of 3.9%.
Fort Collins, Colorado, May 09, 2024 (GLOBE NEWSWIRE) -- *
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*The growing importance of EAS antennas in the retail industry drives the industry demand.*
*Electronic Article Surveillance (EAS) antennas* are valuable tools for detecting and deterring theft across various retail environments, encompassing supermarkets, department stores, and specialty shops. The escalating incidence of shoplifting, the expanding retail sector, and businesses' imperative to mitigate inventory shrinkage and financial losses constitute market growth drivers. Retailers are increasingly acknowledging the advantages of investing in cutting-edge EAS antennas to bolster their loss prevention strategies and enhance the overall shopping experience for customers. With the retail landscape continuously evolving and encountering new challenges, the demand for innovative and effective EAS antenna solutions is anticipated to persist robustly, propelling market expansion in the foreseeable future.
The rising incidence of retail theft and shrinkage is a significant catalyst for the EAS antennas market. As per the National Retail Federation’s National Retail Security Survey, the average shrink rate in the U.S. retail industry reached 1.6% in 2022, translating to around USD 112.1 billion in losses. This concerning trend has spurred retailers to prioritize investment in advanced security solutions, including EAS antennas, to mitigate financial losses and safeguard their inventory. With the retail landscape continually evolving and encountering new challenges, the demand for effective theft prevention measures is anticipated to remain robust, thereby propelling the growth of the EAS antennas market.
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*Segmentation Overview:*
*The EAS antennas market has been segmented into type, technology, application, and region.*
*The clothing and fashion accessory segment had a significant market share in 2023.*
· Based on the market segmentation by application, the clothing and fashion accessory segment held the largest share of the EAS antennas market in 2023. The fashion retail industry has been at the forefront of adopting EAS technologies to combat shoplifting and protect its high-value inventory.
*The radio frequency (RF) is the leading technological segment in the forecast period.*
· Based on the market segmentation by technology, the Radio Frequency (RF) Systems segment held the largest share of the EAS antennas market. Retailers have widely adopted RF systems due to their reliability, cost-effectiveness, and ability to protect a wide range of merchandise.
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*EAS Antennas Market Report Highlights:*
· The EAS antennas market growth is anticipated at a *CAGR of 3.9% by 2032.*
· The technological advances in the EAS systems drives the industry developments.
· The Asia-Pacific region is expected to witness the fastest growth in the EAS antennas market in the near future. The rapid expansion of the retail sector in countries like China, India, and Japan, coupled with the rising disposable incomes and changing consumer preferences, is driving the demand for advanced retail security solutions.
· Some prominent players in the EAS antennas market report include Checkpoint Systems, Tyco Retail Solutions, Nedap, WG Security Products, All-Tag Security, Hangzhou Century Co., Ltd, Ketec Inc., Sentry Technology, TAG Company, Agon Systems, Sensormatic, CrossPoint and Amersec.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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