The global smart badge market size was valued at ~$17.49 billion in 2020. The market is forecast to grow at a CAGR of ~8.9% during the forecast period from 2021-2027.
Smart badges are multi-mode trackers embedded with GPS, Wi-Fi sniffers, low-power GPS, BLE, and LoRaWAN TDoA geolocation technologies that provide fast and accurate geolocation. Smart badges are ideal devices for tracking, zone notifications, and monitoring worker safety and security. This device is portable, lightweight, easy to operate, and comes equipped with a single button that gives access to multiple features which can be customized to fit customer needs.
There are two types of the smart badge: the smart badge with display and the smart badge without display. Smart badges can be classified as contact badges or contactless badges based on communication. Unlike magnetic badges, contactless badges have a chip inserted into the antenna and encased inside the badge body. A smart badge can be used for a number of purposes. Among them are government & healthcare, corporate, events & entertainment, and retail and hospitality.
Factors Affecting the Global Smart Badge Market
- Global smart badge market growth will be driven by factors, such as the growing demand for smart badges from government and hospitals and the increasing use of smart badges to authenticate identities. Furthermore, the growth of the overall market is bolstered by the increasing demand for wearable access control devices.
- In the global smart badge market, consumer awareness and the proliferation of digital identities are major bottlenecks.
- Contactless interface smart badges are expected to provide lucrative opportunities for the smart badge industry due to their multifunctionality & flexibility and growing applications.
Covid-19 Impact on the Global Smart Badge Market
- Covid-19 has had a significant impact on electronics and semiconductors.
- A growing number of Covid-19 cases contributed to the closing of manufacturing and business units in various countries.
- Global supply chains have been disrupted by partial or complete lockdowns, posing challenges to manufacturers.
- A pandemic of Covid-19 is affecting the economy and society globally. A growing number of companies are affected by this outbreak, affecting their overall operations.
- In addition to creating uncertainty in the stock market, the crisis is resulting in falling business confidence, massive slowdowns of supply chains, and heightened panic among customers.
- The shutdown of manufacturing units has resulted in substantial losses of revenue and business for Asian and European countries.
- A recent outbreak of the widely spread Covid-19 disease has negatively impacted operations of the manufacturing and production industries, which in turn negatively impacts growth in the market for smart badges.
- Covid-19 has affected the electronics industry by stalling production facilities, which, in turn, resulted in higher demand for products in the electronics and semiconductor industries.
- There will be a large disruption in manufacturing in Europe and disruptions in Chinese parts exports, which will end up hindering the market for smart badges.
Regional Analysis: The Global Smart Badge Market
- Due to the presence of many manufacturers of smart badges in the region, the North American smart badge market is anticipated to dominate throughout the forecast period.
- The smart badge market in North America is also expected to experience growth during the forecast period with many well-established companies developing new technology.
- Smart badge sales should expand at a significant rate in Europe and the Asia Pacific over the forecast period. While the Middle East, Africa, and South America market is expected to show moderate growth during the forecast period.
Key Players: The Global Smart Badge Market
The prominent players in the global smart badge market are:
- Assa Abloy
- CardLogix Corporation
- Dorma+ Kaba Holdings AG
- Giesecke+Devrient GmbH
- IDEMIA
- Identiv, Inc.
- Thales Group
- Unitech Electronics Co., Ltd.
- Watchdata Co., Ltd.
- Zebra Technologies Corp.
- Other Prominent Player
Aim of the Report: The Global Smart Badge Market
The global smart badge market is segmented based on Industry, Type, Offering, Communication, and Region.
Segmentation based on Industry
- Government & Healthcare
- Corporate
- Retail & Hospitality
- Event & Entertainment
- Others
Segmentation based on Type
- Smart Badges without Display
- Smart Badges with Display
Segmentation based on Offering
Segmentation based on Communication
- Contact
- Contactless
- NFC Technology
- RFID Technology
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
