Global Retail Loss Detection Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Retail Loss Detection Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

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.

Market Overview:

The latest research study on the global Retail Loss Detection market finds that the global Retail Loss Detection market reached a value of USD 17900.0 million in 2022. It’s expected that the market will achieve USD 29592.29 million by 2028, exhibiting a CAGR of 8.74% during the forecast period.

Short-term Impact

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.

Long-term Impact

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 it—for example, view the camera—or 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.

Region Overview:

Geographically, North America held the largest market share – 34.42% in 2022.

Company Overview:

Sensormatic is one of the major players operating in the Retail Loss Detection market, holding a share of 9.77% in 2023.

Sensormatic

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

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.

Segmentation Overview:

As for product types, the Camera Surveillance Solutions segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Shoplifting, with a market share of 53.76% in 2022.

Key Companies in the global Retail Loss Detection market covered in Chapter 3:

Impinj
Cisco
Nedap
Everseen
RetailNext
Zebra Technologies
Cether LLC
Avery Denisson
Checkpoint
Prosegur
Sensormatic

In Chapter 4 and Chapter 14.2, on the basis of types, the Retail Loss Detection market from 2018 to 2029 is primarily split into:

Mechanical
Electronics
Camera Surveillance Solutions
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Retail Loss Detection market from 2018 to 2029 covers:

Shoplifting
Employee Theft
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)