Smart Badges: Merging Identity and Technology for Enhanced Engagement
I projected the global smart badge market size to grow from USD 21.1 billion in 2020 to USD 33.8 billion by 2025; I expect it 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 many 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 Id...