Global Digital Badges Market to reach USD 291.93 million by 2025.
Global Digital Badges Market valued approximately USD 70.2 million in 2017 is anticipated to grow with a healthy growth rate of more than 19.50 % over the forecast period 2018-2025. The increase in government support will be one of the major factors that will have a positive impact on the growth of the global digital badges market in the education sector during the forecast period. Developed and developing countries have gained increased support for using digital badges in the curricula. For instance, in the US, badges are used as a valuable tool to gain information related to the complete skill set of the student. Additionally, the federal government has also widely promoted the utilization of digital badges in schools and colleges. Furthermore, the government of the UK is also widely focusing on the utilization of open digital badges as a tool to measure the skill set of students. The introduction of competency-based education (CBE) is one of the key trends that will gain traction in the digital badges market in the education sector during the next few years. The CBE method enables personalized learning and the integration of digital badges provides increased assistance in offering flexibility for student’s necessities along with maintaining standards for faculty. Since badges are awarded based on certain goals, tasks, and achievements of students, the adoption of digital badging in the CBE model offers teachers a flexible way to recognize the soft skills of the students.
The regional analysis of Global Digital Badges Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to hold the largest market size during the forecast period. Major growth factors for the North American market include increasing adoption of digital badges driven by their authenticity, a growing demand for specific skills among individuals, increasing collaboration among educational institutions, and rapid technological advancements. Large presence of firms that utilize the digital badge technology would also contribute to the market growth. The digital badges market in APAC is expected to record growth at the fastest rate, as academic institutions and corporate houses in the region have started adopting smart eLearning solutions. Organizations in APAC are trying their best to gain better RoI on talent development, fulfill employee learning requirements, offer proper employee training, and receive quantifiable business outcomes.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- On Premise
By End User:
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Credly, Accredible, Discendum, Portfolium, Accreditrust, Badge List,Badge Craft, Basno, Be Badges, Bestr., EbizOn., Forall Systems and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Digital Badges Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers