Digital Badges Market Segmentation and Major Players Analysis and Forecast to 20

Posted by Rahul on November 6th, 2019

Digital badges market are entities that describe achievements of an individual that can be added to its resume or online documents. These badges are globally accepted and acknowledged by employers and organizations. These badges contain the information about the type of badge, for what it has been awarded, and skills and capabilities required to gain that badge. Owing to technological advancements across the globe, employees seek convenient certification options that aid their technical expertise. Digital badges market serve a variety of purposes which include encoraging individuals to participate in various online programs, collaborating individuals or groups to contribute their share to the project, as well as recognize an individual based on its skill set and achievements. The market for digital badges is expected to witness significant growth with a  compound annual growth rate (CAGR) of 18% during the forecast period 2018–2023.

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Key players

key players in the digital badges market are identified across all the major regions based on the country of their origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are — Credly Inc. (US), Accredible (US), Nocti Business Solutions (US), RedCritter Corp. (US), Accreditrust Technologies LLC (US), Concentric Sky Inc. (US), Forall Systems Inc. (US), Blackboard Inc. (US), Badgecraft (Lithuania), and LearningTimes LLC (US). These players contribute a major proportion towards market growth.

Apart from the top key players, other players contributing to the growth of include Professional Examination Service (ProExam) (US), Discendum OY (Finland), Portfolium Inc. (US), Badge List (US), Basno Inc. (US), Bestr (Italy), EbizOn (India), YouTopia (Canada), and others. These players innovate and add advancements in their existing solutions to match the needs of continuously changing technology.

Global Digital Badges Market, By Type (Participation, Recognition, Achievement, Contribution, Certification), By End-Users (Education (K-12, Higher Studies), Corporate (SMEs, Large Enterprises), Retail, Gaming, Transportation, Others) — Forecast till 2023

Industry Segmentation

The market for digital badges globally has been segmented into type and end-users.

In terms of type, the market includes participation badges, recognition badges, achievement badges, contribution badges, and certification badges.

In terms of end-users, the market includes education, corporate, retail, gaming, transportation, and others. The education segment is further categorized into K-12 and higher studies segment. While, the corporate segment is segmented into small and medium enterprises (SMEs), and large enterprises.

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Detailed Regional Outlook

Region-wise analysis of global digital badges in the study of MRFR includes regions of North America, Europe, Asia-Pacific, and the Rest Of the World (having the Middle East & Africa, and Latin America).

North America is witnessing rapid growth and is also leading the digital badges market. The region is booming with increasing competition among the working professionals for better opportunities, which encouraged certification providers to emerge in this region and provide suitable certification. This is helping in the expansion of the customer base for badges and motivated enterprises to raise their employees to achieve certifications. Here, the U.S is anticipated to lead with digital badges owing to the incidence of several certification providers in the country.