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Global Smart Badge Market (2021 to 2030) - by Offering, Communication, Type, Industry Vertical and Geography - ResearchAndMarkets.com

·2 min read

DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "Smart Badge Market by Offering, Communication, Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global smart badge market was valued at $17.51 billion in 2020, and is projected to reach $40.81 billion by 2030, registering a CAGR of 9.00% from 2021 to 2030.

Smart badge is a compact multi-mode tracker with integrated sensors consolidating GPS, Bluetooth Low Energy, Wi-Fi sniffer, low-power GPS, and geolocation technologies. These badges are multifunctional & ideal for all kinds of environments, outdoors and indoors and can be applied in various sectors such as manufacturing, smart construction, oil & gas, and corporate offices & buildings.

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 global smart badge market 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).

Market Dynamics

Drivers

  • Increased efficiency offered by smart badge

  • Robust security

Restraint

  • High costs of incorporating chip cards

Opportunities

  • High demand from the Asia-Pacific region

  • Innovation of cloud-based system

Companies Mentioned

  • 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.

For more information about this report visit https://www.researchandmarkets.com/r/m0rve0

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005813/en/

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