The demand for digital badges is rising rapidly in the past few years. It is currently gaining pace in the customer engagement solutions as well as loyalty ecosystem. Increased acceptance of online higher education is a crucial reason for the growth of this industry. Additionally, focus on employee’s professional improvement along with the use of blockchain technology in digital badges are the other key factors for the industry growth. Most of the online education enablers in the Europe and US provide digital badges to pupils after the accomplishment of their courses, thereby displaying a tendency of digital badges to become an essential fragment of online education.
In 2022, the global digital badges market was estimated to be worth USD 165.14 million. The digital badges market is expected to grow from USD 198.65 million in 2023 to USD 673.65 million by 2030, at a CAGR of 19% between 2023 and 2030.
.jpg "The Global Digital Badges Market 2020-2030 (USD Million)")
The aim of the report is to estimate the size of the market for digital badges and the future growth potential of the market for digital badges across various segments, such as type, business functions, and industry verticals.
The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated. Digital badges enable educators to appreciate learners for their accomplishments. These achievements might be related to learning, efforts, positive behavior, and skills, among others. It can also be conferred to students who are struggling to outdo, in order to encourage learning and motivate them.
Digital badges can trail the achievement of any skill accomplished by an individual. The individual obtains these badges from a qualified badge issuer. The individual could then show these badges to any enterprise or educational institute for the acknowledgment of experience and skills attained thereof. The growing adoption of online certification throughout the IT sector has accounted for the adoption of digital badges. These badges possess similar recognition to physical badges and are worldwide accepted. Additionally, uses of these badges can be witnessed in retail and gaming for tracking the development of any group or individual. However, the rise of the digital badges market is anticipated to be restrained due to poor IT infrastructure in the evolving regions.
Global Digital Badges Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 673.65 million |
| Growth Rate | CAGR of 19 % during 2020-2030 |
| Segment Covered | Offering, End-User Method, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Accredible, Accreditrust, Badgecraft, Badgelist, Basno, Be Badges, Bestr, Concentric Sky, Credly, Discendum, EbizON, Forall Systems, LearningTimes |
Key Segments of the Global Digital Badges Market
Offering Overview, (USD Million)
- Platform
- Services
End-User Method, (USD Million)
- Academic
- Corporate
Regional Overview, 2018-2028 (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Important Companies in the Global digital badges market
- Accredible
- Accreditrust
- Badgecraft
- Badgelist
- Basno
- Be Badges
- Bestr
- Concentric Sky
- Credly
- Discendum
- EbizON
- Forall Systems
- LearningTimes
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of digital badges Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Digital Badges Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on offerings, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Digital Badges Market. The report will benefit: Every stakeholder involved in the Digital Badges Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Digital Badges Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Digital Badges Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The major contenders in the global market are digital badges market include Accredible, Credly, Accreditrust, Badgecraft, Basno, Be Badges, Badgelist, Bestr, Concentric Sky, EbizON, Forall Systems, Discendum, LearningTimes
The base year for the report is 2023 in digital badges market