Global Digital Badges Market Insights Forecasts to 2033.

• The Global Digital Badges Market Size was Valued at USD 0.197 Billion in 2023
• The Market Size is Growing at a CAGR of 16.9% from 2023 to 2033
• The Worldwide Digital Badges Market Size is Expected to Reach USD 0.942 Billion by 2033
• Europe Market is expected to grow the fastest during the forecast period

The Global Digital Badges Market Size is Anticipated to Exceed USD 0.942 Billion by 2033, Growing at a CAGR of 16.9% from 2023 to 2033.

Market Overview

An authorized representation of excellence, skills, and achievements that have been attained in a range of educational contexts is a digital badge. They serve as a representation of a talent or accomplishment that a person has acquired over time. These badges serve as authorization for corporate operations and are visible on websites to verify their legitimacy. Their prominence in the business stems from their function as an essential component of digital credential mechanisms, which provide online access and verification of abilities and accomplishments. It could be obtained in a variety of educational contexts, both official and informal. In the global field of online learning, digital badges are becoming more and more popular. To put it briefly, digital badges include details on the person who obtained the badge, when it was obtained, how it was obtained, who awarded it, what it means, and if it is feasible, samples of the work that was required to obtain the badge. Using digital badges in the online classroom has given teachers a fresh and efficient way to assess students based on how they want to study. Instead, then only focusing on a particular test, students can receive badges depending on their overall performance, which encourages learning. Teachers can use digital badges to honor and award students for their achievements. These successes might be attributed, among other things, to learning, good conduct, efforts, and skills. The global digital badges market is expected to rise as a result of an increase in the use of online learning by employees to further their professional development and increased public awareness of the acknowledgment of learning achievements through digital badges.

Report Coverage

This research report categorizes the market for the global digital badges market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global digital badges market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global digital badges market.

Driving Factors

The increased focus on staff technology development is largely responsible for the growth of the global digital badges market. In recent years, there has been an increasing recognition of the need for ongoing education and training for employees, and digital badges have emerged as a widely recognized and practical means of documenting and honoring these achievements. A kind of micro-credential known as a digital badge is used to recognize and authenticate the skills and information that employees have acquired via their work, training, and other educational opportunities. Employers could find it easier to hire someone with a digital badge since it provides a visual representation of their skills and talents.

Restraining Factors

The anticipated limitation on the global digital badges market growth is the absence of IT infrastructure in developing nations.  The use of digital badges in educational institutions is hampered by inadequate IT infrastructure. The absence of practical roadmaps for using digital technologies like eLearning, social learning, and adaptive learning in developing nations is another barrier to the revenue growth of the global digital badges market.

Market Segmentation

The Global Digital Badges Market share is classified into participation, offering, end-user

• The certification segment is expected to hold the largest share of the global digital badges market during the forecast period.   

Based on the participation, the global digital badges market is divided into recognition, achievement, participation, contribution, certification, and others. Among these, the certification segment is expected to hold the largest share of the global digital badges market during the forecast period. This is because online education is becoming more and more popular, and one of the primary drivers fueling this market's expansion is the certification segment. The certification segment dominates the global digital badges market in part because firms want their employees to pick knowledgeable personnel based on course certification.

• The services segment is expected to grow at the fastest pace in the global digital badges market during the forecast period.    

Based on the offering, the global digital badges market is divided into platform, and services. Among these, the services segment is expected to grow at the fastest pace in the global digital badges market during the forecast period. As a result, there is a growing need for associated services due to the rising usage of digital badges to acknowledge and validate students' accomplishments. The services segment is growing due to the leading players in the global digital badges market making considerable investments in research and development to extend their product ranges.

• The academic segment is expected to grow at the greatest pace in the global digital badges market during the forecast period.

Based on the end-user, the global digital badges market is divided into corporate, academic, government, non-profit organizations, and others. Among these, the academic segment is expected to grow at the greatest pace in the global digital badges market during the forecast period. This is because online certification and education are becoming more and more popular, which is expected to fuel the growth of the academic segment in the global digital badges market. The educational sector holds the greatest market share, and key companies in the industry are investing heavily in R&D to extend their product lines, which is contributing to the expansion of the academic segment in the global digital badges market.

Regional Segment Analysis of the Global Digital Badges Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global digital badges market over the predicted timeframe.

North America is anticipated to hold the largest share of the global digital badges market over the predicted timeframe. The region has a high level of competitiveness, well-established, prestigious educational institutions, and is quickly embracing new technologies. The two main contributors to the North American area are the United States and Canada. The use of digital badges is expanding rapidly in North America due to several factors, including the spread of online education, employers' increasing recognition of the benefits of digital badges, the creation of open badge standards, and the expansion of digital badge platforms' availability in the area. Because it is home to a large number of educational and certifying institutions and is a leader in the use of digital badges, North America is predicted to dominate the global digital badges market.

Europe is expected to grow at the fastest pace in the global digital badges market during the forecast period. This is because European nations make significant investments in workforce development and education initiatives that prioritize digital skills and certifications; thus, there might be a rise in demand for digital badges as a way to identify and authenticate these competencies. The innovative and technological environment in Europe might support the market expansion for digital badges. The effectiveness and dependability of digital badges can be improved by developments in e-learning platforms, blockchain technology (which is frequently used for secure verification of digital credentials), and other related technologies. The need for these credentials is projected to rise as more companies, academic institutions, and trade associations recognize and accept digital badges. Should Europe take the lead in recognizing and appreciating digital badges, this might propel the global digital badges market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global digital badges along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Pearson
• Skillsoft
• Accredible
• Ebizon
• Badge List
• Certif-ID International GmbH.
• Sertifier Inc.
• Digitary Australia Pty Ltd.
• Badgecraft
• Basno
• Credly, Inc.
• Nocti Business Solutions
• RedCritter Corp.
• Peoplecert
• Parchment
• Instructure, Inc.
• Accreditrust Technologies

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2023, Cengage and Accredible worked together to provide micro-credentials and digital badging to close the skills gap. By enrolling in beginning computing courses and utilizing the Cengage online learning platform, MindTap, students could quickly earn accomplishment badges whenever they complete tests and demonstrate their competency with Microsoft Office 365 abilities. Students might add badges to their LinkedIn accounts, online portfolios, and digital resumes for no extra cost.

• In February 2023, Certif-ID GmbH was chosen by NSDC International Ltd., a division of the National Skill Development Corporation (NSDC) under the Indian government, to facilitate the use of its digital credentials and future work platform to assist India's talent in obtaining employment and recognition opportunities globally.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Digital Badges Market based on the below-mentioned segments: 

Global Digital Badges Market, By Participation

• Recognition
• Achievement
• Participation
• Contribution
• Certification
• Others

Global Digital Badges Market, By Offering

• Platform
• Services

Global Digital Badges Market, By End-user

• Corporate
• Academic
• Government
• Non-Profit Organizations
• Others

Global Digital Badges Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa