The global smart badge market size is projected to grow from USD 21.1 billion in 2020 to USD 33.8 billion by 2025; it is expected to grow at a CAGR of 9.9% from 2020 to 2025. The growth of the market is driven benefits such as multifunctionality and flexibility offered by smart badges, rise in demand for wearable access control devices for security management, and increase in the adoption of smart badges with contactless interfaces. Conversely, factors such as the proliferation of digital IDs and the lack of standardization and consumer awareness act as barriers to the growth of the market.
The smart badge market is highly competitive, with a large number of global and regional players operating in its ecosystem. Thales Group (Gemalto) (France), ASSA ABLOY AB (HID Global Corporation) (Sweden), Giesecke+Devrient GmbH (Germany), Brady Worldwide, Inc. (US), IDEMIA (France), Evolis (France), Identiv Inc. (US), BEAM (US), AIOI-SYSTEMS CO., LTD. (DISPLAY IT CARD) (Japan), Watchdata (Singapore), and Identita (Canada) are some of the leading players in this market. The other players include Blendology (UK), Squarofumi (China), KONA I Co., Ltd. (South Korea), Proxfinity Inc. (US), Klik (Canada), Global Net Solutions (GNS) (US), CardLogix Corporation (US), MpicoSys Solutions B.V. (Netherlands), AbeeWay (France), and Hierstar Corp (China).
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Thales Group (Gemalto): The company designs and manufactures advanced electrical equipment for the transportation, aerospace, defense, and security sectors. Gemalto (UK) is a subsidiary of Thales Group that develops digital solutions for private and government customer base and manages the activities related to digital identity and security. The company has a unique portfolio of technology that offers secure world digital transformation for payments, border control, IoT, etc. It operates in a range of verticals, such as financial services, government, and transportation. The investments of Gemalto in product developments have substantially increased over the past years. This has helped the company enhance its product portfolio by launching innovative solutions in the smart badge market.
ASSA ABLOY AB (HID Global Corporation): HID Global Corporation is a subsidiary of Assay Abloy. It manufactures secure identity products. The smart cards offered by HID Global are a complete solution for physical and logical access. It also provides converged solutions for building and computer access, transit payments, cashless vending, etc. The company provides a wide range of smartcard-based credentials in the form of cards, tags, and keyfobs, which enable customers to seamlessly create and manage secure identities during the lifespan of the card.
Giesecke+Devrient GmbH: The company designs, develops, and markets products and solutions related to payments, secure communication, and identity management. It caters to the requirements of various sectors, including BSFI, enterprises and OEMs, healthcare, and public transportation. It also offers products and solutions for mobile network operators and retailers. The company offers its smart cards under various brands such as ActivID, iCLASS, Crescendo, HITAG, Flexsmart, and UltraCard. It has its production facilities, along with research and development centers across the world.
Smart Badge Market by Communication (Contact and ContactLess), Type (With Displays and Without Displays), Application (Government & Healthcare, Corporate, and Retail & Hospitality) and Region (NA, EU, APAC, ROW) - Global Forecast to 2025
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