Press release
Leading Companies Reinforcing Their Presence in the Smart Badge Market
Smart Badge Market
Projected Market Value and Growth Trajectory of the Smart Badge Market
The smart badge market is forecasted to experience rapid growth, reaching a valuation of $48.53 billion by 2030. This represents a compound annual growth rate (CAGR) of 10.2% during the period leading up to 2030. The surge is largely driven by increasing demand for multifunctional smart badges that combine various features, the expansion of biometric-enabled badge technologies, and wider adoption in sectors such as healthcare and government. Additionally, advancements in data analytics platforms and the rising use of wireless secure authentication systems contribute significantly to this growth. Key trends expected to influence the market include the integration of IoT-enabled smart access solutions, AI-driven identity authentication, growth in smart workforce management platforms, innovations in automated badge tracking, and the development of secure digital credentialing systems.
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Key Companies Making an Impact in the Smart Badge Market
Numerous influential companies are shaping the smart badge landscape. These 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., HierStar Inc., Giesecke+Devrient GmbH, CardLogix Corporation, Abeeway SAS, Zebra Technologies Corporation, BEAM Authentic LLC, Access Smart LLC, BioConnect Inc., ColorID LLC, and Datacard Group.
Notably, in April 2024, Entrust, a US-based software developer, acquired UK-based Onfido for an undisclosed sum. This strategic acquisition aims to strengthen Entrust's portfolio in digital security by incorporating Onfido's cutting-edge biometric and AI-powered identity verification technologies.
View the full smart badge market report:
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Current Trends Driving Innovation in the Smart Badge Market
Leading firms are emphasizing product innovation, focusing on enhanced designs that emphasize durability and offer a modern look suitable for event attendees and other users. Improved designs seek to boost functionality, aesthetics, usability, and overall performance. For example, in July 2023, Bizzabo, a US software company, launched The Edge, an updated version of its wearable event technology. This new smart badge generation features lightweight and adaptable designs equipped with integrated technology that enhances branding, data collection, and networking capabilities.
The Edge also maximizes branding opportunities while promoting sustainability by utilizing refurbishable hardware. It offers versatility through compatibility with different registration systems and is supported by an analytics dashboard that tracks event metrics. The pricing starts at approximately $10 per attendee, depending on the scale and range of services required.
Comprehensive Segmentation of the Smart Badge Market
This report segments the smart badge market into various categories for detailed analysis:
1) By Offering: Hardware, Software
2) By Type: Smart Badges Without Display, Smart Badges With Display
3) By Communication Technology: Contact, Contactless, NFC Technology, RFID Technology
4) By Industry Application: Government and Healthcare, Corporate, Retail and Hospitality, Event and Entertainment, Other Industries
Further subcategories include:
- Hardware types such as NFC or RFID badges, Bluetooth-enabled badges, biometric badges, and display badges
- Software types including badge management software, access control software, data analytics and reporting tools, and integration platforms
This segmentation offers a thorough understanding of the specific components and applications driving the smart badge industry forward.
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