Global Digital Badges Market

The digital badges market witnesses rapid traction across the globe. Over the past few years, digital or virtual badges have garnered vast popularity as a validated indicator of skill, accomplishment, or interest earned in various learning environments. 

Besides, the increasing adoption of online certification across the IT industry and spurring rise in many sectors substantiate the market growth. Digital badges represent various certifications across major industries, encouraging enterprises to accept digital certifications and badges. 

Digital badges have proved their prominence in the business world as capstone testing. Most businesses have embraced education and excellence certifications to expand their clientele. With rising online certification programs, the digital badges market size is projected to witness significant rise in the years to come. 

In this regard, Market Research Future (MRFR) states that the global digital badges market is poised to garner major gains by 2027, registering an impressive CAGR during the estimated period (2020 – 2027). The kind of recognition those digital badges are gaining, same as physical badges, and the growing acceptance worldwide escalates the market demand. 

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Conversely, poor IT infrastructure in the developing regions acts as a major headwind for the digital badges industry. Also, this lack of IT infrastructure limits the penetration of digital badges in educational institutes. However, the proliferation of digital badges in gaming and retail sectors to track the progress of employees or group would support market growth throughout the assessment period.

Digital Badges Market – Geographical Analysis 

North America leads the global digital badges market, witnessing the vast adoption in schools, universities, state education agencies, and other organizations, as well as millions of learners. Especially in the US, demand for academic credentials ranging from digital badges, transcripts, certifications, diplomas, graduation/degree verifications is significant.

Initiatives taken by enterprises to encourage their employees to include additional certifications to their achievements are major digital badges market trends. Besides, the increasing competition among working professionals for better opportunities encourages certification providers to provide suitable certification and expand their customer base. 

Digital Badges Market – Segments

The report is segmented into types, end-users, organizations, and regions. The type segment is sub-segmented into participation, recognition, achievement, contribution, certification badges, and others.

The end-user segment is sub-segmented into education (K-12, higher studies, others), corporate, retail, gaming, transportation, and others. The organization segment is sub-segmented into SMEs and large enterprises. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.

Global Digital Badges Market – Competitive Landscape 

Highly competitive, the digital badges market appears fragmented due to the presence of several well-established industry players. Innovations, mergers & acquisitions, and collaborations remain the key trends for the leading players. The market competition is predicted to intensify further with an increase in R&D innovations and M&A. 

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Major Players: 

Players active in the digital badges market are Credly Inc. (US), Accredible (US), Discendum OY (Finland), Portfolium Inc. (US), Badge List (US), Nocti Business Solutions (US), RedCritter Corp. (US), Accreditrust Technologies LLC (US), Basno Inc. (US), Bestr (Italy), EbizOn (India), Concentric Sky Inc. (US), Forall Systems Inc. (US), Blackboard Inc. (US), YouTopia (Canada), LearningTimes LLC (US), and Badgecraft (Lithuania), among others.

Industry/ Innovation/ Related News:

Jul 29, 2021 --- Dignitary, a leading digital academic credentials verification company, announced its partnership with Parchment to help learners turn credentials into opportunities. Parchment would operate as the global parent company. The agreement would bring together combined workforces and technologies to ensure credentials are helping those traveling to new countries to access enrolment or employment opportunities more effectively.