Overview and Scope
The smart badge is an electrical device with a microcontroller or embedded memory in the form of a contact pad. It communicates with a reader by direct physical contact standards like (RFID), (NFC), or short-range wireless communication. It is a compact, lightweight, and simple-to-use device with a single button that provides access to various customizable functionalities
Sizing and Forecast
The smart badge market size has grown strongly in recent years. It will grow from $25.84 billion in 2023 to $28.36 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to corporate identity and branding, contactless access, event management, hospitality industry needs, education sector adoption, cost efficiency.
The smart badge market size is expected to see rapid growth in the next few years. It will grow to $42.05 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to smart cities initiatives, government and public sector adoption, enhanced data security, sustainability focus, personalized customer experiences, sustainability and eco-friendly designs.
Major trends in the forecast period include integration with iot and connectivity, digital identity and access control, real-time location tracking, integration with mobile apps, ai and data analytics integration.
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Segmentation & Regional Insights
The smart badge market covered in this report is segmented –
1) By Offering: Hardware, Software
2) By Type: Smart Badges without Display, Smart Badges with Display
3) By Communication: Contact, Contactless, NFC Technology, RFID Technology
4) By Industry: Government and Healthcare, Corporate, Retail and Hospitality, Event and Entertainment, Other Industries
North America was the largest region in the smart badge market share in 2023. The regions covered in the smart badge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The surge in demand for smart badges from the government and healthcare sector is expected to propel the growth of the smart badge market going forward. The healthcare industry includes a diverse variety of industries that supply goods and services to patients. Smart badges in healthcare enable to simplify task execution, enhance work accuracy, and provide real-time answers to customers’ questions. For instance, in July 2021, according to the Brady Corporation Q4 2021 report, a US-based company engaged in the manufacturing of specialty products, technical equipment, and services for identifying components, the company recorded 73.5% sales for the Integrated Delivery System (IDS) segment, the most popular segment of smart badges in 2021, which is an increase of 0.9%, due to sales of high performance industrial and healthcare products. Therefore, the surge in demand for smart badges from the government and healthcare sector is driving the growth of the smart badge market.
Key Industry Players
Major companies operating in the smart badge market report are Thales CPL SAS, ASSA ABLOY AB, Brady Corporation, IDEMIA Identity & Security USA LLC, Evolis SA, Identiv Inc., AIOI Systems Co. Ltd., Watchdata System Co. Ltd., Kontakt.io Inc., Global Net Solutions Inc., Mpicosys Solutions Private Limited, Proxfinity Inc., Unitech Electronics Co. Ltd., Vocera Communications Inc., HierStar Inc., HID Global Corporation, Gemalto a Thales Company, Giesecke+Devrient GmbH, CardLogix Corporation, Abeeway SAS, Zebra Technologies Corporation, dormakaba Holding AG, BEAM Authentic LLC, Access Smart LLC, Allegion plc, BioConnect Inc., ColorID LLC, Datacard Group, Lenel Systems International Inc., Tyco International Ltd.
The smart badge market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
………..
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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