Smart Badges Market

The global smart badges market for smart badges is worth $ 21 billion in 2023 and is set to reach a valuation of $ 50 billion by 2033, expanding rapidly at 9% CAGR over the next ten years. A smart badge is a transportable multi-mode tracker in the form of an ID card that contains embedded sensors that combine a Wi-Fi sniffer, GPS, BLE, low-power GPS, and LoRaWAN TDoA geolocation technologies to give precise and continuous geolocation.

The study divulges essential insights on the market on the basis of type (smart badges with display, without display), communication (contact badges, contactless badges), application (into corporate, retail & hospitality, government & healthcare, event & entertainment, other applications), and across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

A smart badge is an excellent gadget for workforce’ safety and security tracking, zone notification, and surveillance. It is lightweight and simple to use, with a single button providing access to many features that can be customized to meet customers' requirements.

Smart badges are widely utilized in government and healthcare applications because they improve patient security and privacy, give secure access to emergency medical information, and prevent healthcare fraud. A smart badge also has a panic button to alert an emergency discreetly and the badge's position, which aids in tracking the individual in hospitals. Government entities often use smart badges to adhere to government regulations, as well as to confirm a person's identification and physically allow the badge holder to a facility.

Smart badges use cutting-edge machine learning and IoT technologies to improve security and enable new functionalities. Moreover, a smart badge offers information about who is accessing what, when, and where, eliminating the danger of a security breach due to negligence or oversight. As a result of these reasons, the demand for smart badges for government and healthcare applications is increasing, which is predicted to propel the global smart badges market during the forecast period. Another major factor driving the global market is the growing demand for wearable devices.