Digital Badges Market By Product (Recognition Badges, Achievement Badges, Participation Badges, Certification Badges, Contribution Badges); By Offerings (Platforms, Services); By End-User (Corporate, Education, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
Digital Badges Market Overview and Definition
Digital badges refer to a form of online credential that is used to recognize an individual's skills, knowledge, or achievements. These digital credentials can be earned by completing a course, passing an exam, or demonstrating proficiency in a specific area, and are often displayed on social media profiles, resumes, or online portfolios.
The digital badges market refers to the industry involved in the creation, distribution, and management of digital badges and related services. This market includes a variety of software and platforms, including learning management systems (LMS), badge creation tools, and credential verification services.
The digital badges market is driven by the increasing demand for online learning and the need for more flexible and accessible forms of education and training. Digital badges provide a way to demonstrate proficiency in a specific skill or area, and can be used by employers, educational institutions, and other organizations to assess the competencies and qualifications of individuals. As the market for online education and training continues to grow, the digital badges market is expected to expand, with new technologies and services emerging to meet the changing needs of the market.
Digital badges refer to the badges which are earned in various learning environments. These badges are the indicator of skill, accomplishment, quality, or interest. Further, the global digital badges market size is estimated to be USD 167.8 million in 2022 and is expected to reach USD 690.4 million by 2032, growing at a compound annual growth rate (CAGR) of 19.2% during the forecast period i.e., 2022-2032..
Digital Badges Market Insights
Growth Drivers – Digital Badges Market
Increase in Adoption of Online Learning & Education
Digital badges are considered as an essential part of online learning & education. In the U.S., online education providers help learners to create a competitive environment for accomplishing individual skills and then offers digital badges to the learners after the completion of their courses. Due to the rapid transformation in the online learning & education industry, there is an increase in the adoption of social learning and digital learning, which is expected to drive the growth of digital badges market.
Digital Badges Market Segmentation Analysis
The digital badges market is segmented by badge type, offerings and end-user. Based on badge type, the market is segmented into recognition badges, achievement badges, participation badges, contribution badges, and certification badges, out of which, achievement badges segment is expected to grow at a considerable CAGR over the forecast period i.e. 2020-2025. Further, it was followed by participation badges segment in terms of market share in 2019.
By offerings, the market is divided into platforms and services, out of which, services segment is expected to register a higher revenue share in the global digital badges market over the forecast period.
Moreover, based on end-user, the digital badges market is further sub-segmented into corporate, education and others. Among this segment, education segment has acquired lion market share and is expected to grow at a significant CAGR over the upcoming years.
Digital Badges Market Geographical Analysis
Geographically, the report offers an analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In digital badges market, North America is anticipated to capture a notable market share in 2025. Further, factors such as rising adoption of digital badges by organizations in the region are expected to drive the growth of North America digital badges market. Also, Asia Pacific market is driven on the back of increasing adoption of smart eLearning solutions and is projected to grow at a noteworthy compound annual growth rate (CAGR) from 2020 to 2025.
Digital Badges Market Competitive Analysis
The report also covers detailed competitive analysis of major market players of global digital badges market, such as Credly Inc., Accredible, Nocti Business Solutions (NBS), Forall Systems, LearningTimes, Youtopia, RedCritter Corp., Accreditrust Technologies, LLC, Concentric Sky Inc., Blackboard Inc. and other major & niche players. The global digital badges market is witnessing a wide range of industry activities such as product launch, acquisition, partnership and expansion across the globe.
Digital Badges Market Segmentation
By Product
- Recognition Badges
- Achievement Badges
- Participation Badges
- Certification Badges
- Contribution Badges
By Offerings
- Platforms
- Services
By End-User
- Corporate
- Education
- Others
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Digital Badges Market Competitive Landscape
The report profiles various major market players such as;
- Credly Inc.
- Accredible
- Nocti Business Solutions (NBS)
- Forall Systems
- LearningTimes
- Youtopia
- RedCritter Corp.
- Accreditrust Technologies, LLC
- Concentric Sky Inc.
- Blackboard Inc.
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in digital badges market.
Timeline Considered for Analysis:
- 2022: Base Year
- 2023: Estimated Year
- 2023 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global digital badges market by the following segments:
- Badge Type
- Offerings
- End-User
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Digital Badges Industry Report
- What is the overall market size in 2022? What will be the market growth during the forecast period i.e. 2023-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 27th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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