“The growing adoption of online learning along with an increasing focus on employees’ professional development is expected to drive the global digital badges market”
The global digital badges market size is expected to grow from USD 83.3 million in 2018 to reach USD 205.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Major drivers of the digital badges market include the growing adoption of online learning, an increasing focus on employees’ professional development, and the use of blockchain in digital badges. Lack of IT infrastructure in countries of the developing regions could be a major challenge for the growth of digital badges market.
“The corporate end-user segment to grow at a higher rate during the forecast period”
The corporate end-user segment has started adopting digital badges to provide intrinsic value to the training offered to employees. Digital badges are gaining traction especially in the technology sector where employees improve their job qualifications by showcasing their technical expertise. Many technology vendors have partnered with digital badge platform providers to offer digital badges to employees who have completed training modules in different technological aspects.
“North America to hold the largest market size and APAC to grow at the highest CAGR during the forecast period”
In the global digital badges market, North America is expected to hold the largest market size during the forecast period. Organizations in North America are increasingly adopting digital badges. owing to the authenticity provided by digital badges, a growing demand for acquiring specific skills among individuals, increasing collaboration among educational institutions, and rapid technological advancements. Large presence of firms that utilize the digital badge technology would also contribute to the growth of the market in North America. On the other hand, APAC is expected to record the fastest growth in the digital badges market, as academic institutions and corporate houses in the region have started adopting smart eLearning solutions. In APAC, organizations are increasingly focus to gain better RoI on talent development, fulfill employee learning requirements, offer proper employee training, and receive quantifiable business outcomes.
The break-up profiles of primary discussion participants are given below:
• By Company Type: Tier 1 (15%), Tier 2 (25%), and Tier 3 (60%)
• By Designation: C-Level (45%), Manager Level (30%), and Director Level (25%),
• By Region: North America (45%), Europe (25%), APAC (20%), RoW (10%)
The following key vendors profiled in the digital badges market report:
1. Credly (US)
2. Accredible (US)
3. Accreditrust (US)
4. Badgecraft (Lithuania)
5. Badgelist (US)
6. Basno (US)
7. Be Badges (Belgium)
8. Bestr (Italy)
9. Concentric Sky (US)
10. Discendum (Finland)
11. EbizON (India)
12. Forall Systems (US)
13. LearningTimes (US)
14. Nocti Business Solutions (US)
15. Portfolium (US)
16. ProExam (US)
17. Youtopia (US)
The report segments the global digital badges market based on offering (platform and services), end user (academic and corporate), and region. A detailed analysis of the digital badges market by region provides insights into the potential business opportunities across regions.
Reasons to Buy the Report
The report will help market leaders/new entrants in the global digital badges market in the following ways:
1. The report segments the digital badges market comprehensively and provides the closest approximations of revenue numbers for the overall market and subsegments across regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. The report helps stakeholders understand the competitors and gain more insights to better their position in the market.