Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report ongoing study by Infinium Global Research on the retail loss prevention market provides in-depth analysis of segments and sub-segments in the global as well as regional retail loss prevention market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional retail loss prevention market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global retail loss prevention market. According to the report, the global retail loss prevention market is projected to grow at a healthy CAGR over the forecast period of 2021-2027.
The efforts taken by a company to reduce fraud and theft are referred to as loss prevention. "Shrinkage" refers to these avoidable losses caused by human error or deliberate attempts. Retail, maybe more than any other business, has seen substantial changes as a result of evolving technology, changed customer habits, and the need for a seamless shopping experience. Shrink management is a crucial concern for retailers in today's always-connected society. The term "retail shrink" refers to any intentional or unintentional loss of merchandise, and it encompasses shoplifting personnel theft, returns fraud, and administrative errors. Many market players have come up with retail loss prevention solutions, hardware, and services such as inventory management, security, and surveillance solutions, and others.
The business of retailers on online platforms and on e-commerce platforms is growing rapidly. Online channels and e-commerce platforms allow them to streamline their operations and to reach out to a wide base of consumers. Though the growing business of retailers through online channels and on e-commerce platforms creates supply chain and logistic challenges resulting in huge retail losses. Thus, the demand for retail loss prevention solutions and software has grown significantly. Thus, this factor is majorly driving the growth of the market. Industries and businesses are turning towards digitalization for the streamlining of their projects with the ultimate aim of improving business process efficiency. Thus, companies are adopting cloud based solutions including cloud based retail loss prevention solutions as they are easily deployable and scalable. This factor is also majorly driving the growth of the market. The growing data security threats may hamper the growth of the market. Nevertheless, new growth opportunities are in foresight as the retail application of loss prevention technologies and solutions is growing.
North America is home to wholesale retailers such as Walmart, Best Buy, Target Corporation, The Kroger Co., Costco, and others as well as e-commerce giants such as Amazon. North America is one of the biggest retail markets and all the mentioned companies operate in North America on a large scale. Therefore, the supply chain and logistic operations are complex and can lead to various challenges causing retail losses. Thus, the employment of retail loss prevention solutions is high among these retail and e-commerce conglomerates in North America. Additionally, retail loss prevention solutions service and hardware providers such as Intel Corporation, Cisco Systems, Inc., and Agilence, Inc. are native to North America. Thus, the high concentration of retailers, market players, and a wide network of retailers make North America favorable for the high growth of the market. Therefore, a clear dominance of North America can be observed in the market. Asia-Pacific is expected to be the fastest growing region in the market with a growing number of retailers and problems such as retail shrink creating the demand for retail loss prevention solutions, software, and hardware.
The report on the global retail loss prevention market covers segments such as component, deployment, and end user. On the basis of component, the sub-markets include service, solution, and hardware. On the basis of deployment, the sub-markets include cloud, and on-premise. On the basis of end user, the sub-markets include hypermarkets, supermarkets, retail stores, shopping malls, and others.
The report provides profiles of the companies in the market such as Intel Corporation, Cisco System Inc., Hitachi, Ltd., Johnson Controls International plc, Brosnan Risk Consultants, NEC Corporation, Agilence, Inc., SWL Group International Ltd, Checkpoint Systems, Inc., and Hilco.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the retail loss prevention market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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