Digital Badges Market by Offering (Platforms and Services), Type (Certification, Participation, Recognition, Achievement, Contribution), End User (Academic, Corporate, Government, Non-profit Organizations) and Region - Global Forecast to 2028

Digital Badges Market by Offering (Platforms and Services), Type (Certification, Participation, Recognition, Achievement, Contribution), End User (Academic, Corporate, Government, Non-profit Organizations) and Region - Global Forecast to 2028

The Digital badges market is estimated at USD 0.2 billion in 2023 and is projected to reach USD 0.5 billion by 2028, at a CAGR of 16.5% from 2023 to 2028. Various key players in the ecosystem have led to a competitive and diverse market.

""By offering, platform segment to hold the largest market size during the forecast period.""

Digital badge platforms offer a wide range of features that simplify the creation, issuance, management, and verification of digital badges. Users can leverage these solutions to design and customize badges using templates and metadata, ensuring unique and informative representations of achievements. The badge issuance process is made convenient, supporting both automated procedures and manual approval workflows. Effective badge management features allow for easy organization, setting of expiration dates, and the ability to update or revoke badges when necessary. To maintain authenticity, digital badge solutions offer verification mechanisms such as embedded metadata or integration with external verification services. By enabling recipients to display badges on websites, social media profiles, or digital portfolios, these solutions provide opportunities to share accomplishments with peers, potential employers, or educational institutions, promoting recognition and professional growth. Digital badge solutions bring numerous benefits to organizations and individuals alike. For organizations, these solutions provide a tangible and portable method of recognizing and motivating individuals, encouraging ongoing learning and skill development. By enhancing online visibility and credibility, digital badges strengthen the professional profiles of individuals, increasing their chances of career advancement.

Based on services, the professional services segment is expected to register the largest market size during the forecast period.

Professional services for digital badges play a crucial role in supporting organizations and individuals in effectively utilizing digital badges. These services provide specialized expertise and guidance in various aspects of digital badges, including strategy development, badge design and development, badge issuance and management, verification and authentication, analytics and reporting, integration with existing systems, and support for recognition and promotion. By leveraging professional services, organizations and individuals can effectively plan, design, implement, and manage their digital badge programs. Service providers ensure the proper use of digital badges by offering insights, best practices, and technical support throughout the entire lifecycle of the badge program. They help ensure that digital badges align with organizational goals, are visually appealing, credible, and easily verifiable.

“Asia Pacific to register the second highest growth rate during the forecast period.”

The Asia Pacific region is expected to emerge as the fastest growing market for digital badges and learning solutions. The region has started adopting smart eLearning solutions for academic institutes and corporate houses. Asia Pacific organizations are trying their best to gain better RoI on talent development, fulfill employee learning requirements, offer proper employee training, and receive quantifiable business outcomes. As many organizations have tight learning budgets, they prefer technology-enabled learning approaches, which are also cost-effective, to impart training and supply resources to their learners. Many learning solution vendors are expanding their reach and exploring opportunities in the Asia Pacific region by offering personalized learning environments and catering to the fluctuating demands of the market. These vendors are enabling the integration of digital badges in their solutions for social learning, mobile learning, and adaptive learning to provide a continuous learning environment.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 15%, Tier 2 – 25%, and Tier 3 – 60%

By Designation: C-level –45%, D-level – 30%, and Others – 25%

By Region: North America – 45%, Europe – 25%, Asia Pacific – 20%, and Rest of World- 10%.

The major players in the Digital badges market Pearson (UK), Instructure (US), SkillSoft Corporation (US), PeopleCert (UK), Accredible (US), Parchment (US), EbizON (India), Accreditrust Technologies (US), Badgecraft (Lithuania), Badge List (US), Bestr (Italy), Basno (US), Saarni Learning Oy (Finland), ForAllSystems (US), LearningTimes (US), Nocti Business Solutions (US), Knowledge Catalyst, Learning Vault, Hyperstack (US), TruScholar (India), CredSure.io (Germany), CertifyMe (US), Convergence.Tech (Canada), Open Badge Factory (Finland), Sertifier (US), Certopus (India), and Virtualbadge.io (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Digital badges market.

Research Coverage

The market study covers the Digital badges market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (platform and services), type, end user and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the global Digital badges market's revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (growth in the adoption of online education, increasing focus on employees’ professional development, and use of blockchain for digital badges), restraints (lack of IT infrastructure in developing countries), opportunities (growing emphasis on lifelong learning and gamification in the education industry), and challenges (lack of digital badge equivalents and budget constraints for education institutions) influencing the growth of the Digital badges market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Digital badges market. Market Development: Comprehensive information about lucrative markets – the report analyses the Digital badges market across various regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Digital badges market. Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Pearson (UK), Instructure (US), SkillSoft Corporation (US), PeopleCert (UK), Accredible (US), Parchment (US), EbizON (India), Accreditrust Technologies (US), Badgecraft (Lithuania), Badge List (US), Bestr (Italy), Basno (US), Saarni Learning Oy (Finland), ForAllSystems (US), LearningTimes (US), Nocti Business Solutions (US), Knowledge Catalyst, Learning Vault, Hyperstack (US), TruScholar (India), CredSure.io (Germany), CertifyMe (US), Convergence.Tech (Canada), Open Badge Factory (Finland), Sertifier (US), Certopus (India), and Virtualbadge.io (Germany).