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Market Overview of Global Retail Loss Detection market:
According to our latest research, the global Retail Loss Detection market looks promising in the next 5 years. As of 2022, the global Retail Loss Detection market was estimated at USD 17900.0 million, and it's anticipated to reach USD 29592.29 million in 2028, with a CAGR of 8.74% during the forecast years.
Shoplifting and employee theft are the main factors causing losses in retail industry. The increase of incidents and new ways of theft are encouraging retailers to invest in new technologies to reduce retail losses. Retail loss detection includes mechanical, electronics and camera surveillance solutions, etc.
Organized retail crimes and many other security problems developed in 2020 and 2021, and most retailers attributed the increase of criminal activities to epidemic situation. Retailers have been doing business in all parts of the epidemic area to ensure that their employees can work in a safe environment and their customers can shop safely, whether in stores, online shopping, picking up goods in stores and other channels. But the new way of shopping has also opened up a new way for criminal activities.
Because consumers have to find new ways to buy products, and criminals also have new channels to use: online purchase, picking up goods in physical stores and other multi-channel ways have become targets. The increasingly dangerous environment has far exceeded the company's bottom line, posing a real threat to employees and customers. It is increasingly obvious that greater support from legislators and law enforcement agencies is needed.
Most retailers believe that organized retail crime gangs are more aggressive and violent than the previous year. Retailers listed new crown pneumonia, changes in regulatory and sentencing guidelines and the growth of online market as the primary reasons for the increase of organized retail crime gangs activities. organized retail crime gangs targets all kinds of stolen items, including designer clothes, laundry detergent, designer handbags, antiallergic drugs, razors and high-end liquor, painkillers, infant formula and tooth whitening strips.
With the emergence of more threats, retailers are investing more resources to protect their customers, employees and operations. Compared with the past few years, the number of people who put in additional human resources has greatly increased. With the increasing scale and scope of these threats, retailers' demand for retail loss detection solutions is increasing.
The growing demand of downstream industry
The most common employee theft incidents include: sweet hearting, that is, employees give free or discounted goods to friends or colleagues, employees cause the value of goods reflected by sales recording equipment to be lower than the total retail value, and theft of prepaid gift cards. To solve these employee theft incidents, it is necessary to be able to monitor the digital ability of the trading environment to provide comprehensive visibility and insight into the movements of customers and related personnel, which can prevent retail losses. Retailers not only need to monitor sales areas such as checkout counters and customer service kiosks, but also need to monitor background activities to identify and record thefts from customers and employees. The growing demand of downstream industry will promote the development of Retail Loss Detection industry.
Internet of things security
IoT sensors are increasingly used in retail to enhance customer experience, such as digital signage; Understand customer preferences and behaviors deeply; And loyalty and promotion-use sensors to identify the time and place of customers, so as to better locate help or incentives. Connected sensors are used to manage energy and detect equipment problems, especially in grocery stores, warehouses and shops, to optimize supply and performance, just like RFID and smart shelves. However, by accessing the device, hackers can manipulate itfor example, view the cameraor use it for crypto mining or as a bot for a botnet attack. It also can provide hackers a backdoor into the network because of an insecure connection. With the rapid increase of Internet of Things devices and the increasing dependence on field devices that communicate with network data centers, retailers will need more and more control over Internet of Things devices. This trend will bring new risks.
Competition in the industry is fierce
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Retail Loss Detection industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.
Geographically, North America held the largest market share - 34.42% in 2022.
Sensormatic is one of the major players operating in the Retail Loss Detection market, holding a share of 9.77% in 2023.
Sensormatic is a subsidiary of Tyco International (now owned by Johnson Controls) that manufactures and sells electronic article surveillance equipment. Sensormatic Electronics Corporation was purchased by Tyco International in 2001. The acquisition was executed by a merger of Sensormatic with a subsidiary of Tyco. Sensormatic specializes in the area of sourcetagging.
Checkpoint Systems is a global leader in EAS and RFID solutions for the retail industry, encompassing loss prevention and merchandise visibility solutions in a growing omni channel environment.
As for product types, the Camera Surveillance Solutions segment held the largest market share in 2022.
The market's largest segment by application is the segment Shoplifting, with a market share of 53.76% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Retail Loss Detection market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Retail Loss Detection Market Report:
Market Size Estimates: Retail Loss Detection market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Retail Loss Detection market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Retail Loss Detection market
Segment Market Analysis: Retail Loss Detection market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Retail Loss Detection market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Retail Loss Detection Market: Revenue and sales volume of major countries in each region
Retail Loss Detection Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Retail Loss Detection market in major regions.
Retail Loss Detection Industry Value Chain: Retail Loss Detection market raw materials & suppliers, manufacturing process, distributors, downstream customers
Retail Loss Detection Industry News, Policies & Regulations
Key players in the global Retail Loss Detection market are covered in Chapter 12:
In Chapter 2 and Chapter 15.1, based on types, the Retail Loss Detection market from 2018 to 2028 is primarily split into:
Camera Surveillance Solutions
In Chapter 3 and Chapter 15.2, based on applications, the Retail Loss Detection market from 2018 to 2028 covers:
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
Asia-Pacific (Covered in Chapter 8)
Europe (Covered in Chapter 9)
Latin America (Covered in Chapter 10)
Middle East and Africa (Covered in Chapter 11)
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Retail Loss Detection market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028