Digital Badges Market Share, Opportunities, Strategies, Growth Drivers, Industry Leaders, Revenue Forecast and Analysis of COVID-19

The digital badges market size was valued at USD 78.6 Million during the historic forecast period and is expected to reach USD 213.8 Million by the end of the forecast period with an expected CAGR of 18.34%.

Digital badges are a visual representation of an award or recognition for skills acquired over time. These badges can be found on websites and are used to verify their legitimacy and offer authority for business activities. Digital badges can be used to mark an individual’s progress in mastering any skill. These badges are issued by a certified badge issuer to the individual. The individual can then present these badges to any educational institution or business for recognition of their talents and experience. The rise of the digital badges market can be attributed to the increasing acceptance of online certification across the IT industry. These badges have the same level of recognition as physical badges and are widely recognized around the world.

Furthermore, these badges are being used in gaming and retail to track the success of individuals and groups. However, due to insufficient IT infrastructure in emerging nations, the market for digital badges is projected to be stifled. As online certification has encouraged businesses to adopt digital certifications and badges, the digital badges market is looking for new development prospects. It has also influenced older professionals/employees to adopt new technologies and remain current in their fields.

Market Segmentation

Based on the type, the digital badges market is segmented into participation badges, recognition badges, achievement badges, contribution badges, and certification badges.

Based on the end-users, the digital badges market is segmented into education, corporate, retail, gaming, transportation, and others. The education segment is categorized into K-12 and higher studies segments. Also, the corporate segment is categorized into small and medium enterprises (SMEs), and large enterprises.

Based on the region, the digital badges market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (including the Middle East & Africa, and Latin America).

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Regional Classification

The digital badges market is dominated by North America, which is predicted to develop at the quickest rate during the forecast period. As working professionals compete for greater chances, certification providers have been pushed to reach out to them and give them appropriate certification, thereby expanding their customer base. As a result, businesses are encouraging their employees to add more credentials to their resumes. Due to the presence of several certification providers in the United States, the United States is likely to dominate the North American area. The market for Canada and Mexico, on the other hand, is predicted to increase at stunning growth. The European region may grow at a similar rate to North America, according to the research. The market for digital badges in this region is predicted to increase because of the increasing acceptance of online education and certification. The digital badges market is projected to be dominated by countries like the United Kingdom and Italy.

Industry News

The major key players in the digital badges market are Credly Inc. (US), Nocti Business Solutions (US), RedCritter Corp. (US), Concentric Sky Inc. (US), Forall Systems Inc. (US), Blackboard Inc. (US), Badgecraft (Lithuania), Accredible (US), Accreditrust Technologies LLC (US), and LearningTimes LLC (US). These businesses are mostly responsible for the market’s expansion. Other firms contribute roughly 40% of the market for digital badges, in addition to the top main competitors.

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Table of contents:

1 EXECUTIVE SUMMARY

1.1 GLOBAL DIGITAL BADGES MARKET, BY COMPONENT

1.2 GLOBAL MARKET, BY ORGANIZATION SIZE

1.3 GLOBAL DIGITAL BADGES MARKET, BY DEPLOYMENT

1.4 GLOBAL MARKET, BY END-USERS

1.5 GLOBAL DIGITAL BADGES MARKET, BY REGION

2 MARKET INTRODUCTIONS

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 RESEARCH OBJECTIVE

2.4 DIGITAL BADGES MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 FORECAST MODEL

3.6 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

Continued…

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