What is the global market size of Digital Badges Market?

Digital Badges Market size was valued at USD 1.7 Billion in 2021 and is poised to grow from USD 2.07 Billion in 2022 to USD 10.18 Billion by 2030, at a CAGR of 22% during the forecast period (2023-2030).

Digital Badges Market Size, Share, Growth Analysis, By Type(Virtual badge and Real badge), By Application(Military, Entertainment game, Education and other.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2143 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 61 | Figures: 75

Digital Badges Market News

In January 2023, Digital Nasional Berhad (DNB) and Ericsson jointly unveiled a complimentary online academic program called the 'MY5G Ericsson Malaysia Pioneers Programme, designed specifically for tertiary-level students in Malaysia. The program aligns with DNB's objective of fostering the growth of technological talent across the nation. Comprising three comprehensive modules, this initiative aims to equip students with an in-depth understanding of the technological intricacies and practical applications of digital services. Upon successfully completing the assessments within each module, students will have the opportunity to earn a valuable digital badge from Ericsson.

In August 2022, WorldSkills announced its plans to introduce a new digital badge program, aimed at offering participants a novel means to showcase their achievements and experiences within the organization. These digital badges provided by WorldSkills serve as tangible online credentials that can be conveniently shared and verified on resumes and various social media platforms. Through this initiative, WorldSkills aims to facilitate employers in recognizing and comprehending the value that participants' experiences bring to their skillsets, positioning them as valuable assets within their teams, whether as leaders or skilled professionals.

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Global Digital Badges Market size was valued at USD 2.07 billion in 2022 and is poised to grow from USD 2.53 billion in 2023 to USD 12.39 billion by 2031, growing at a CAGR of 22% during the forecast period (2024-2031).

The global digital badges market is highly competitive, with a diverse range of players vying for market share. The landscape is characterized by continuous product innovation, strategic partnerships, geographic expansion, industry-specific focus, customer-centric approaches, pricing strategies, and brand reputation. Companies in this market strive to differentiate themselves by offering advanced features, forging collaborations, expanding their presence in different regions, catering to specific industries, providing excellent customer support, implementing competitive pricing models, and building trust with customers. The competitive landscape of the global digital badges market is dynamic and driven by the evolving needs and demands of customers in various sectors. 'Credly – US', 'Accredible – UK', 'Badgecraft – Latvia', 'Concentric Sky – US', 'Discendum – Finland', 'Forall Systems – US', 'Youtopia – US', 'Badge List – US', 'ProExam – US', 'Basno – US', 'Accredible – UK', 'Portfolium – US', 'EbizOn – India', 'Be Badges – Denmark', 'Badge Design – US', 'Instructure, Inc. – US', 'Badgr – US', 'Credmos – UK', 'Concentric Sky – US', 'Accredible - UK'

The online education industry is undergoing a rapid transformation, evident from the increasing acceptance of social and digital learning. Within this context, digital badges have emerged as a significant feature in online education. Currently, numerous online educational providers, particularly in the United States and Europe, offer digital badges to signify the completion of courses. These badges serve as a motivating factor for learners and also contribute to the development of a competitive environment, encouraging the attainment of skills within the education industry.

Growing Adoption of Online Learning: The increasing popularity of online learning platforms and the shift towards remote education has driven the demand for digital badges. Educational institutions, training providers, and corporate organizations are embracing digital badges as a means to recognize and validate learning achievements in virtual environments.

North America is a dominant region in 2022 owing to a well-established education system, strong technological infrastructure, and a high adoption rate of online learning platforms. The region is home to major digital badge providers and has a robust market for educational and professional development badges. North America leads in the adoption and utilization of digital badges across various sectors, including education, corporate training, and professional certifications.

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Digital Badges Market Size, Share, Growth Analysis, By Type(Virtual badge and Real badge), By Application(Military, Entertainment game, Education and other.), By Region - Industry Forecast 2024-2031

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