The smart badges market has been projected to reach a value of $50 billion in the next ten years.
Smart badges are utilized in government and healthcare applications. They secure access to emergency medical information and can have panic buttons to alert an emergency discreetly and track the badge's position. The government also use smart badges to adhere to government regulations, as well as to confirm a person's identification and physically allow the badge holder into a facility.
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.
- The global market for smart badges is worth $21 billion in 2023.
- The United States market was valued at $6 billion in 2022.
- Global demand for contactless smart badges is projected to evolve at a CAGR of 6.2% during the forecast period.