Global Digital Badges Market Overview:
A digital badge is a validated indicator of accomplishment, skill, quality, or interest that can be earned in several learning environments. The technology is being widely used in academic institutions and corporates for the continuous assessment of the personnel skills and knowledge. The technology is displayed as the badge in the image file allowing users to monitor their achievements. The integration of blockchain technology into digital badges is also estimated to propel the Global digital badge market growth. However, Increasing online certification is encouraging of adoption of digital badges and has also helped older employees cope with the advancement of technology by using game theory. Some of the key players profiled in the study are Credly (United States), Accredible (United States), Accreditrust (United States), Badgecraft (Lithuania), Badgelist (United States), Basno (United States), Be Badges (Belgium), Bestr (Italy), Concentric Sky (United States), Discendum (Finland), EbizON (India), Forall Systems (United States) and LearningTimes(United States).
On the basis of geography, the market of Digital Badges has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End users, the sub-segment i.e. Academic [K-12 and Higher Education] and Corporate [SMEs and Large Enterprises] will boost the Digital Badges market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type of Badges, the sub-segment i.e. Participation Badges will boost the Digital Badges market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Social Learning and Digital Learning through Online Mode
- Increasing Penetration of Social Media platforms
- Increasing Focus of Professionals towards Upgrading their Skills
- The Advent of Professional Development Programs by ERP Providers
- Growing Trends towards Gamification
- Paucity of Robust Infrastructure in Emerging Countries
- Slow Pace Adoption of Digital Credential Programs
- Growing Emphasis on Life Long Earning by Professionals
- Introduction of Gamification in Education Industry
- Lack of Universal Acceptability across Institutions & Countries
- Budget Constraints for most of the Educational Institutions
Major Market Developments:
July 2018, Credly Company acquired Pearsonís Acclaim badging business to cater to the growing demand for digital credentialing and talent recognition. This acquisition enables Credly to offer a comprehensive solution suite for skill recognition, credential verification, and talent management.
June 2017, Credly announced the integration of blockchain technology in the verification process. The recording of digital credentials on a blockchain provides an additional level of external verification to the issuers and earners.
July 2017, Louisville internal data Governance group and the office of civic innovation have launched internal certification for the employees allowing them to learn new skills in their city.
Digital badge platform providers, IT service providers, Badge issuers, Digital badge displayers, Digital badge designers, Cloud service providers, Consultants/consultancies/advisory firms and Training and education service providers
Major Objectives Focused through this Study
To define, describe, and forecast the Global Digital Badges market on the basis of product [Platform and Services] , application [Military, Entertainment Game, Education and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Digital Badges market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Digital Badges industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Nocti Business Solutions (United States), Portfolium (United States), ProExam (United States) and Youtopia (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Digital Badges market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.