Global Smart Badge market research 2024, Forecast To 2033
4 Mar, 2024
The smart badge market size has witnessed significant growth, escalating from$25.84 billion in 2023 to$28.36 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The surge in the historic period is attributed to corporate identity and branding, contactless access, event management, hospitality industry needs, and adoption in the education sector, all driven by cost efficiency. Looking ahead, the market is anticipated to experience rapid growth, reaching$42.05 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The forecasted expansion is fueled by smart cities initiatives, government and public sector adoption, enhanced data security, sustainability focus, personalized customer experiences, and eco-friendly designs. Major trends expected include integration with IoT and connectivity, digital identity and access control, real-time location tracking, integration with mobile apps, and AI and data analytics integration.
Global Smart Badge Market Key Driver
The surge in demand for smart badges from the government and healthcare sectors is poised to fuel the growth of the smart badge market. In the healthcare industry, smart badges streamline task execution, improve work accuracy, and offer real-time assistance to patients. The Integrated Delivery System (IDS) segment, a prominent sector for smart badges, witnessed significant sales growth, as reported by the Brady Corporation Q4 2021 report. The increased adoption of smart badges underscores their efficacy in enhancing operational efficiency across various sectors, particularly in government and healthcare. Therefore, the surge in demand for smart badges from these sectors is driving the growth of the smart badge market.
Get A Free Sample Of The Global Smart Badge Market ReportGlobal Smart Badge Market Segments
The global 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
By Geography: The regions covered in the smart badge market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
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.
Major Smart Badge Industry Players
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.
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Smart Badge Market Overview
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.
Smart Badge Global Market Report 2023 provides data on the global smart badge market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The smart badge market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.