EAS Antennas Market Report by Technavio Identifies Increasing Investment in Retail Security Systems as a Major Driver
NEW YORK, March 16, 2021 /PRNewswire/ -- The EAS antennas market report by Technavio forecasts USD 28.03 million growth during 2020-2024. Amid pandemic, the EAS antennas market registered a YOY growth of (1.35)% in 2020 and is expected to accelerate at a CAGR of almost 2% during the forecast period.
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across segments such as application (apparels and fashion accessories, cosmetics and pharmaceuticals, supermarkets and large grocery stores, and other retail stores) and geography (North America, Europe, APAC, MEA, and South America). This report helps businesses create strategies to make the most of future growth opportunities.
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"Increasing investment in retail security systems will be crucial in driving the growth of the EAS antennas market. Also, growing youth population and growth in the retail sector will present significant opportunities for vendors during the forecast period", says an analyst at Technavio.
The growing incidence of shoplifting is compelling retailers to adopt security systems such as EAS antennas to prevent shoplifting and enhance operational efficiency. Prominent retailers such as Walmart Stores, TESCO, Target, and Home Depot have already invested heavily in EAS antennas to reduce retail shrinkage. With the growing focus on improving inventory management and enhance the shopping experience of customers, the adoption of EAS systems will increase during the forecast period.
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EAS Antennas Market: Segmentation Analysis
Segmentation by Application:
- Based on application, the stevedoring segment led the market in 2019.
- The apparel and fashion accessories segment is expected to generate maximum revenue to the market due to the proliferation of retail stores that sell apparel and fashion accessories.
- Also, the increasing use of EAS tags in apparel stores is expected to contribute to the growth of the apparel and fashion accessories segment during the forecast period.
- The market growth in the apparel and fashion accessories segment will be significant during the forecast period.
Segmentation by Geography:
- 35% of the market growth will originate from APAC and the region will offer several opportunities for market vendors during the forecast period.
- Factors such as the growing middle-class population in countries, such as India, China, Singapore, and Indonesia, coupled with the high demand from inland and low-tier cities will drive the growth of the EAS antennas market in APAC.
- China and Japan are the key markets for EAS antennas in APAC.
EAS Antennas Market: Major Vendors
The EAS antennas market is concentrated due to the presence of few vendors. The report offers detailed information on the competencies, capacities, and products offered by major vendors including Agon Systems Ltd., CCL Industries Inc., Century Retail Europe BV, Dialoc ID Products BV, Gunnebo Gateway AB, Hangzhou Century Co. Ltd., Hangzhou Ontime IT Co. Ltd., Johnson Controls International Plc, Mighty Cube Co. Ltd., and Nedap NV.
More Details: www.technavio.com/report/eas-antennas-market-industry-analysis
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