LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global EAS antennas market is expected to grow at a CAGR of almost 3% during the forecast period.
This research report titled ‘Global EAS Antennas Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The market is expected to experience increasing growth during the forecast period because of the factors like growth in the organized retail sector, increasing youth and urban population, and growing retail shrinkage. The organized retail sector includes hypermarkets, retail chains, and privately owned large retail businesses. The organized retail sector worldwide is growing at a rapid pace. The key driver for the growth in this sector is the significant increase in consumers' purchasing power.
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Technavio’s hardware and semiconductors research analysts categorize the global EAS antennas market into the following segments by the application. They are:
- Apparels and fashion accessories
- Cosmetics and pharmaceuticals
- Supermarkets and large grocery stores
- Others
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The top three revenue-generating application segments for the global EAS antennas market are discussed below:
Apparels and fashion accessories
Fashion accessories, footwear, and sports and western wear are the types of merchandise that are most vulnerable to theft in this segment. As a result, the adoption of EAS antennas in this segment is likely to increase during the forecast period.
According to Raghu Raj Singh, a lead sensors research analyst from Technavio, “Most of the customers worldwide prefer visiting and shopping at apparel and fashion accessory stores as they get to try out items that match their size, style, and color. The preference for these stores among consumers is leading to an increase in the number of apparel and fashion accessory retail outlets.”
Cosmetics and pharmaceuticals
The global EAS antennas market by cosmetics and pharmaceuticals is more vulnerable to customer and employee theft compared with other segments. This is because shoplifters focus more on small and easily concealable, expensive, and branded items that are attractive and easily resalable. These items include perfumes, face creams, and beauty and personal care products.
“Most of the premium beauty care products are bought by upper-class consumers that reside in first and second tier cities. Ulta Beauty, one of the leading national retailers of cosmetics, skin care, and hair care products, opened 100 stores in 2016. The retailer plans to open 100 new stores in 2017. This will likely create a demand for EAS antennas in retail outlets, thus driving the growth of this segment,” adds Raghu.
Supermarkets and large grocery stores
The main driver for the growth of EAS antennas in this segment is the increasing demand for these stores to manage inventory efficiently and reduce retail shrinkage by shoplifters and employees. Shoppers are becoming aware of the advantages of online retailing in grocery shopping and other retail applications. Few consumers are also using click-and-collect services, which allow customers to order groceries online for pickup at stores or other locations.
Most of the customers worldwide enjoy going to grocery stores and find it an engaging experience. Some customers consider grocery shopping in retail stores as an opportunity to have a fun day out with family. Retailers are trying to ensure that the shopping experience is pleasant, relevant, and efficient to keep shoppers coming back to their stores.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Checkpoint Systems
- Tyco Sensormatic
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