Smart Badge Market Research, 2032
The global smart badge market size was valued at $17.51 billion in 2020, and is projected to reach $40.81 billion by 2030, registering a CAGR of 9.0% from 2021 to 2030.
Smart badge is an electronic gadget, which contains either a microcontroller or an embedded memory assembled in a contact pad. It connects to a reader either by direct physical contact standard such as or radio-frequency identification (RFID) or near-field communication (NFC) or through a short-range wireless connectivity.
The global smart badge market growth is anticipated to be driven by factors such as growing use of smart badges to authenticate the identity of the person, securely controlling physical access of the users, and surge in demand for smart badges from the government & healthcare sector. In addition, rising demand for wearable access control devices for security management boosts the overall market growth. However, proliferation of digital id and lack of consumer awareness act as major restraints of the global smart badge industry. On the contrary, benefits such as multifunctionality & flexibility and growing applications of contactless interface smart badges, are expected to create lucrative opportunities for the smart badge industry.
The global smart badge market share is segmented into offering, communication, type, industry vertical, and region. By offering, the market is classified into hardware and software. Depending on communication, it is categorized into contact and contactless. The types covered in the study include smart badges without display, and smart badges with display. On the basis of industry vertical, the market is fragmented into government & healthcare, corporate, retail & hospitality, event & entertainment, and others.
Region-wise, the smart badge market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America dominated the smart badge market share in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the retail & hospitality sector. However, Asia-Pacific is expected to witness significant growth rate by the end of the forecast period, followed by Europe.
Leading smart badge market manufacturers, such as Thales Group, Giesecke+Devrient GmbH, and Assa Abloy, are focusing on their investment on technologically advanced, cost-effective, and more secure products & solutions for various applications.
By Type
Contactless segment is projected as one of the most lucrative segments.
Top Impacting Factors
The prominent factors that impact the smart badge market growth are robust security and increased efficiency offered by smart badges. In addition, growth in adoption of smart badges with contactless interfaces drives the market growth. However, high cost of incorporating chip on badge restricts the market growth. On the contrary, high product demand from Asia-Pacific and innovation of cloud-based system for smart badge are expected to create lucrative opportunities for the market.
Competitive Analysis
Competitive analysis and profiles of the major smart badge market players, such as Assa Abloy, CardLogix Corporation, Dorma+ Kaba Holdings AG, Giesecke+Devrient GmbH, IDEMIA, Identiv, Inc., Thales Group, Unitech Electronics Co., Ltd., Watchdata Co., Ltd., and Zebra Technologies Corp., have been covered in the report.
By End User
Corporate segment is expected to secure leading position during forecast period.
By Region
Asia-Pacific would exhibit the highest CAGR of 10.4% during 2021-2030
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global smart badge market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall smart badge market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current smart badge market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the smart badge market share of key vendors.
- The report includes the smart badge industry trends and the revenue share of key vendors.
Smart Badge Market Report Highlights
| Aspects | Details |
 By Offering |
|
 By Communication |
|
 By Type |
|
 By Industry |
|
 By Region |
|
 Key Market Players | Assa Abloy, Watchdata Co., Ltd., Giesecke+Devrient GmbH, IDEMIA, Zebra Technologies Corp., CardLogix Corporation, Thales Group, Unitech Electronics Co., Ltd., Identiv, Inc., Dorma+ Kaba Holdings AG |
Analyst Review
A smart badge is an ID card that includes an integrated computer chip of microprocessor type, which process and stores information & locations. The card data is executed through a reader, which is essential for a computing framework. These smart badges are used in various industry verticals such as government & healthcare, retail & hospitality, and event & entertainment.
The growth of the global smart badge market is anticipated to be driven by factors such as growing use of smart badges to authenticate the identity of the person, securely controlling physical access of the users, and surge in demand for smart badges from the government & healthcare sector. In addition, rising demand for wearable access control devices for security management boosts the overall market growth. However, proliferation of digital ID and lack of consumer awareness act as major restraints of the global smart badge industry. On the contrary, benefits, such as multifunctionality & flexibility and growing applications of contactless interface smart badges, are expected to create lucrative opportunities for the smart badge industry.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Business expansion and product launch are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region; However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of smart badge in a variety of fields.
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