The smart badge market has seen considerable growth due to a variety of factors.
• In the last few years, the smart badge market has seen substantial growth. This market, which was valued at $27.89 billion in 2024, is projected to escalate to $30.39 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.0%. The historical growth trends can be traced back to factors such as corporate branding and identity, the use of contactless access, event management, needs of the hospitality industry, the education sector’s adoption, and cost effectiveness.
The Smart Badge market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of smart badges is anticipated to witness rapid expansion in the forthcoming years. It is projected to escalate to $45.62 billion by 2029, with a compound annual growth rate (CAGR) of 10.7%.
The surge in the projected period can be linked to smart cities initiatives, acceptance in the government and public sector, improved data security, focus on sustainability, personalized customer experiences, sustainability, and eco-friendly constructions. Major trends during the projected period encompass integration with IoT and connectivity, digital identification and access control, real-time location tracking, mobile app integration, and incorporation of AI and data analytics.
The increased need for smart badges in the government and healthcare sector is poised to drive the smart badge market's expansion. The healthcare sector is diverse, offering an array of goods and services to patients. By simplifying task completion, improving work precision, and providing on-the-spot responses to client queries, smart badges in healthcare prove beneficial. For example, the Electro IQ, a non-governmental organization based in the US, reported in August 2024 that the worldwide smartwatch market is anticipated to generate USD 40.57 billion in revenue by 2029 with a 9.19% penetration rate and a user base of 740.53 million. Thus, the rising demand for smart badges from the government and healthcare sectors is fuelling the smart badge market's expansion.
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
Subsegments:
1) By Hardware: NFC Or RFID Badges, Bluetooth-Enabled Badges, Biometric Badges, Display Badges
2) By Software: Badge Management Software, Access Control Software, Data Analytics And Reporting Tools, Integration Platforms
The rising trend of technological advancements in smart badges is becoming prominent in the smart badge market. The major players in this market are striving to create new technological solutions to consolidate their market standing. For example, Satellite Displays, an American firm in the smart badge industry, introduced a smart badge with closed captioning in May 2022. This device converts speech to text and displays it using its E Ink display, making it easier for those with hearing impairments to understand what the badge wearer is speaking. The Badger conveys audio data to a paired smartphone by leveraging two microphones and Bluetooth Low Energy (LE) connectivity provided by the I-BLYST840 SYST's module, powered by Nordic's multiprotocol nRF52840 SoC.
Major companies operating in the smart badge market include:
• 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.
• 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.
North America was the largest region in the smart badge market share in 2024. The regions covered in the smart badge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.