Retail Market Growth Spurs Adoption Of Electronic Article Surveillance Systems In Southeast Asia, Finds Frost & Sullivan
KUALA LUMPUR, Malaysia, Jan. 2, 2013 /PRNewswire/ -- The electronic article surveillance (EAS) market in Southeast Asia (SEA) will grow in tandem with retail markets in its emerging countries. Since these emerging countries have a relatively low EAS installed base; the market in the region is poised for considerable growth.
New analysis from Frost & Sullivan ( http://www.sensors.frost.com), Analysis of the Electronic Article Surveillance Market in Southeast Asia , finds that the market earned revenues between US$30 - US$40 million in 2011 and estimates this grow at a CAGR of 16.6% till 2016.
Increasing customer purchasing power and the positioning of countries such as Malaysia, Singapore, and Thailand as shopping hubs bolsters the growth of retail markets. This in turn, will increase the demand for EAS.
"Retailers in SEA realize that implementing EAS systems in stores can effectively reduce shrinkage and theft, thus improving profitability," said Frost & Sullivan Research Analyst Susan Sahayan. "Theft prevention becomes crucial since retail margins are low and retailers will have to sell several of the same product type to cover the loss of one stolen item."The availability of cost-effective solutions also encourages EAS adoption. EAS companies now offer mid-range and economy-range product lines. Products with more functionalities that suit the requirements of different retail applications are growing popular. The convergence of EAS systems with video surveillance technologies is also gaining widespread retailer interest. However, the lower costs of manned security in emerging countries such as Vietnam, Indonesia, and the Philippines curb investments in EAS systems. Cheap, low-quality solutions flooding the SEA market also impede growth. Sophisticated products that improve retailers' operational efficiency and consumers' shopping experience are essential. "Market participants are striving to offer better customer value through fully integrated EAS solutions," concluded Sahayan. "Smart features such as accurate data analysis capabilities in sales reports, smart alarm management, reliable deactivation, reduced energy consumption, and scalability for future upgrades will spur adoption of EAS systems in the region."
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