The Global Digital Badges Market size is expected to reach $700.8 million by 2030, rising at a market growth of 15.2% CAGR during the forecast period.
A digital recognition badge acknowledges learning and skills and serves as digital documentation of success. Consequently, the recognition badges segment registered a $60,965.9 thousand revenue in the market in 2022. Digital badges serve as an indicator that validates a worker's professional ability during their employment. Badges, learning, and skill recognition are meant to be visible in formal and casual contexts. It can affect how and where individuals value learning. Digital badges can be applied to email signatures, social media, and digital resumes. Some of the factors impacting the market are growing demand for online education, increasing gamification in the education sector and inadequate IT infrastructure in emerging nations.
The growing popularity of social and digital learning demonstrates the rapid development of the online education sector. By establishing virtual classrooms, numerous online learning platforms enable teachers to simultaneously address large groups of students. These platforms offer students a direct connection to their teachers. The ease of use and easy access to knowledgeable information are driving an increase in the usage of mobile devices for innovative learning. In the age of digital transformation, children are increasingly using technology at younger ages. Students frequently view educational videos, read news articles, and engage in other online activities. Additionally, Gamification refers to gaming-based learning. It is essentially a collection of course materials that works like a game, and its popularity among students is increasing. It makes it possible to use game design ideas to include students in problem-solving. The three main components that gamification contributes to the education sector are mechanical elements, personal aspects, and emotional elements. Numerous digital badge suppliers are endeavouring to seize on this market opportunity. They provide APIs for supply badges integrated with gamification tools in learning programs. Consequently, with the growing acceptance of online education and rise in gamification in the education sector, it is anticipated that the market for digital badges will also expand.
However, maintaining an Adequate IT infrastructure is one of the most critical aspects of the growth of the market. Poor IT infrastructure makes it difficult for educational institutions to implement digital badges. For instance, the use of digital badges in Africa keeps on hampering due to insufficient IT infrastructure and connectivity options. Internet usage is limited in countries like Nigeria, Kenya, and Uganda. The lack of appropriate roadmaps for employing digital technologies, including eLearning, social learning, and adaptive learning in developing countries, is another barrier to the growth of the market.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP), Skillsoft Corporation, PeopleCert Group (PeopleCert Holdings UK Ltd), EdInvent, Inc. (Accredible), Parchment LLC (Credentials eSCRIP-SAFE), Accreditrust Technologies, LLC, Asset Chain Techlligence Private Limited (TruScholar), Basno, Inc., Sertifier INC. and Tech99 Innovations Pvt Ltd (CertifyMe)
A digital recognition badge acknowledges learning and skills and serves as digital documentation of success. Consequently, the recognition badges segment registered a $60,965.9 thousand revenue in the market in 2022. Digital badges serve as an indicator that validates a worker's professional ability during their employment. Badges, learning, and skill recognition are meant to be visible in formal and casual contexts. It can affect how and where individuals value learning. Digital badges can be applied to email signatures, social media, and digital resumes. Some of the factors impacting the market are growing demand for online education, increasing gamification in the education sector and inadequate IT infrastructure in emerging nations.
The growing popularity of social and digital learning demonstrates the rapid development of the online education sector. By establishing virtual classrooms, numerous online learning platforms enable teachers to simultaneously address large groups of students. These platforms offer students a direct connection to their teachers. The ease of use and easy access to knowledgeable information are driving an increase in the usage of mobile devices for innovative learning. In the age of digital transformation, children are increasingly using technology at younger ages. Students frequently view educational videos, read news articles, and engage in other online activities. Additionally, Gamification refers to gaming-based learning. It is essentially a collection of course materials that works like a game, and its popularity among students is increasing. It makes it possible to use game design ideas to include students in problem-solving. The three main components that gamification contributes to the education sector are mechanical elements, personal aspects, and emotional elements. Numerous digital badge suppliers are endeavouring to seize on this market opportunity. They provide APIs for supply badges integrated with gamification tools in learning programs. Consequently, with the growing acceptance of online education and rise in gamification in the education sector, it is anticipated that the market for digital badges will also expand.
However, maintaining an Adequate IT infrastructure is one of the most critical aspects of the growth of the market. Poor IT infrastructure makes it difficult for educational institutions to implement digital badges. For instance, the use of digital badges in Africa keeps on hampering due to insufficient IT infrastructure and connectivity options. Internet usage is limited in countries like Nigeria, Kenya, and Uganda. The lack of appropriate roadmaps for employing digital technologies, including eLearning, social learning, and adaptive learning in developing countries, is another barrier to the growth of the market.
End-user Outlook
On the basis of end user, the market is categorized into academic, corporate, government, non-profit organizations, and others. The government segment recorded a remarkable revenue share in the market in 2022. Digital badges are steadily gaining popularity in government organizations due to the significant benefits they offer when implemented correctly, which can help organizations operate more efficiently. By awarding badges for specific training programs, certifications, or accomplishments, agencies can ensure that their personnel possess the necessary abilities to perform their assigned tasks effectively. This encourages accountability and facilitates the alignment of employee skills with organizational objectives. Digital badges offer government agencies a standardized skill recognition and competency assessment approach.
Type Outlook
By type, the market is fragmented into certification badges, recognition badges, participation badges, achievement badges, and contribution badges. The achievement badges segment garnered a significant revenue share in the market in 2022. Achievement badges are a method to recognize and display micro-credentials or smaller learning or skill development units. This is especially useful in a growing job demand where individuals constantly improve their skills without necessarily pursuing degrees or certifications.Offering Outlook
Based on offering, the market is segmented into platform and services. The services segment covered a considerable revenue share in the market in 2022. Market suppliers provide digital badge services to aid badge issuers in setting up a simple issuance procedure. Designing, development and support, training, and consulting are just some of the many professional services platform providers offer. Additionally, graphic and program design are included in designing services. Service providers can help with the process design for issuing badges. They may aid in defining the appropriate evidence, establishing learner criteria, and outlining the awarding procedure, among other things.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the digital badges by generating the highest revenue share. The growing competition among working professionals for improved chances, which supports certification for these individuals with the enabled certification, has led to North America holding the greatest market share for digital badges. The United States is expected to dominate North America because it is home to numerous certification providers. The military and educational institutions are the leading proponents of using digital badges to certify abilities obtained through PLA assessments without providing conventional transcripts from high schools or colleges in the North American region.The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP), Skillsoft Corporation, PeopleCert Group (PeopleCert Holdings UK Ltd), EdInvent, Inc. (Accredible), Parchment LLC (Credentials eSCRIP-SAFE), Accreditrust Technologies, LLC, Asset Chain Techlligence Private Limited (TruScholar), Basno, Inc., Sertifier INC. and Tech99 Innovations Pvt Ltd (CertifyMe)
Strategies Deployed in the Market
- Apr-2023: EdInvent, Inc. came into partnership with Cengage, an educational content services provider, to develop solutions for credential conveyance. The combined strength of the two companies would offer specific badging and Intentional badging facilities to the customers.
- Mar-2023: Parchment LLC took over Quottly, an American software company. The acquisition would allow Parchment to offer services for the smooth exchange of credentials by adding Quottly’s solutions for course and program sharing to its portfolio.
- Apr-2022: Instructure, Inc. acquired Concentric Sky, an IT services company. The acquisition supports Instructure's strategy in expanding its Instructure Learning Platform.
- Dec-2021: Skillsoft Corporation took over Codecademy, an online learning platform. The acquisition aids Skillsoft in creating a better immersive online learning experience. Additionally, the acquisition strengthens Skillsoft’s capabilities in the Tech & Dev segment.
- Jul-2021: Parchment LLC partnered with Digitary, a digital academic credentials verification solutions provider, to provide solutions for helping ex-pat students in finding enrolment opportunities. The solutions developed in the course of the partnership would ensure a smooth exchange and verification of credentials.
- Feb-2020: EdInvent, Inc. signed a partnership with 5G, a technology company to bring its digital credentialing software into the Chilean market. The partnership comes in line with EdInvent's growth strategy.
- Feb-2020: Parchment LLC merged with Credentials Solutions, a higher education transcript service provider. The new organization formed through the merger would go by the name Parchment and would provide solutions for efficient credentials exchange.
- Jan-2020: Skillsoft Corporation launched digital badges on its Percipio learning platform. The digital badges are Open Badges 2.0 Certified and allow the learners to share their credentials on blogs, social media, and websites.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Certification Badges
- Recognition Badges
- Participation Badges
- Achievement Badges
- Contribution Badges
By Offering
- Platform
- Services
By End-user
- Academic
- Corporate
- Government
- Non-profit Organizations
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP)
- Skillsoft Corporation
- PeopleCert Group (PeopleCert Holdings UK Ltd)
- EdInvent, Inc. (Accredible)
- Parchment LLC (Credentials eSCRIP-SAFE)
- Accreditrust Technologies, LLC
- Asset Chain Techlligence Private Limited (TruScholar)
- Basno, Inc.
- Sertifier INC.
- Tech99 Innovations Pvt Ltd (CertifyMe)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Global Digital Badges Market by Type
Chapter 5. Global Digital Badges Market by Offering
Chapter 6. Global Digital Badges Market by End User
Chapter 7. Global Digital Badges Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP)
- Skillsoft Corporation
- PeopleCert Group (PeopleCert Holdings UK Ltd)
- EdInvent, Inc. (Accredible)
- Parchment LLC (Credentials eSCRIP-SAFE)
- Accreditrust Technologies, LLC
- Asset Chain Techlligence Private Limited (TruScholar)
- Basno, Inc.
- Sertifier INC.
- Tech99 Innovations Pvt Ltd (CertifyMe)
Methodology
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