PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1719330
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1719330
The U.S. electronic article surveillance (EAS) market, valued at USD 1.39 billion in 2024, is anticipated to grow to USD 1.95 billion by 2032, expanding at a compound annual growth rate (CAGR) of 4.5%. This growth is driven by the increasing adoption of advanced security systems by retailers to combat shoplifting and organized retail crime (ORC). Technologies such as RFID, AI surveillance, and cloud-based security are revolutionizing the market by enhancing theft detection, inventory control, and operational efficiency. Additionally, government regulations and anti-theft initiatives, including the Organized Retail Crime Act, are propelling the market's expansion.
Key Insights
RFID Adoption: RFID-enabled EAS systems are replacing traditional technologies like acoustomagnetic and electromagnetic systems due to their dual advantage of theft protection and real-time inventory tracking, leading to better supply chain management and reduced stock loss.
Rising Retail Shrinkage: U.S. retailers face an annual loss of USD 13 billion due to shoplifting and fraud, pushing the demand for more advanced EAS solutions. RFID tags, along with sensors and deactivators, help track thefts, particularly in sectors like pharmaceuticals and high-value goods.
Technological Advancements: The integration of AI, IoT, and predictive analytics into EAS systems is significantly enhancing theft prevention and operational monitoring, leading to a more proactive approach to retail security. Cloud computing allows for remote store security tracking, improving real-time theft management.
Components and Technology: Tags dominate the market, accounting for 45% of the revenue, with hard tags being the most effective for securing high-value merchandise. The radio frequency (RF) technology leads the market and is the fastest-growing segment, driven by its reliable performance across a range of retail applications, from apparel to pharmacies.
Government Support: Regulations aimed at reducing retail theft and the adoption of advanced EAS systems, especially RFID, are supported by initiatives like the ORC Act, encouraging retailers to implement sophisticated theft deterrents.
Regional Insights: The Northeast region holds the largest market share, while the South is the fastest-growing due to increased adoption of RFID systems and cloud-based solutions in retail businesses.