Digital badges 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 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.
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 digital badges market 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.
Market Drivers & Trends
The global digital badges market is witnessing a substantial growth over the years attributed to the swelling adoption of online certification across the IT industry. These online badges carry similar recognition as physical badges and are globally accepted. The online business entity now uses digital badges to make their expertise authentic and reliable to clients. These factors are emerging as a strong component behind the market’s growth during the forecast period.
Applications of badges are abundantly found in the gaming and retail sector with the purpose of tracking the progress of an individual or group. These badges are going excellent in top gaming parts, which portrays authenticity and gathers more people to play, thus gaining traction in terms of importance. The badges are being popular as it has the ability to contain information about the type of badge, for what it has been used as an award so that any individual or a group can identify about the particular game is yet another prime factor contributing towards market growth substantially.
On the flip side, the progress of digital badges market can be restrained in following up growth graph in the foreseeable years owing to deprived IT infrastructure in the developing regions. Such a lack of IT infrastructure is limiting the proliferation of digital badges in educational institutes. The market pursues growth opportunities as online certification has stimulated enterprises to accept digital certifications and badges and has also encouraged old professionals and employees to adopt the latest technologies and get up-to-date in their domain.
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.
Whereas, the European region may witness a similar growth as North America in support of increasing adoption of online education and certification, which is anticipated to contribute to the digital badges market’s growth. The UK and Italy in this region are to lead the digital badges market during the forecast period.
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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 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.
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 innovate and add advancements in their existing solutions to match the needs of continuously changing technology.Regional AnalysisThe global market for digital badges is driven by increasing focus on employees’ technical development and increased adoption of learning management software by educational institutes.
Digital Badges MarketDigital badges are a representation of an award or achievement in recognition of skills or milestones that an individual has gained over a period of time.
These badges are used in education, gaming, and other enterprises to help acknowledge skills and encourage an individual to reach the next achievement.
Market Research Future has carefully reviewed the global digital badge market for the projection period from 2018 to 2023.
MRFR’s calculations suggest that the market is likely to grow at a highly optimistic CAGR of 18.34% during the review period.Digital badges help individuals track accomplishments at every skill level and behave like small goals that users can work up.
For all these reasons and more, digital badges have grown increasingly popular and are being innovatively adopted to encourage individual participation, collaboration, and other functions.The presence of poor IT infrastructure in developing regions is expected to hinder the growth of the global digital badges market.
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.Market SegmentationThe global digital badges market has been segmented on the basis of participation badges, recognition badges, achievement badges, certification badges, and contribution badges.
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.Get Free Sample Report of Digital Badges Market Research Report - Global Forecast till 2023 @ https://www.marketresearchfuture.com/sample_request/6706Key playerskey 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.
