Digital Badges Global Market Report 2024

Description

Digital badges serve as digital representations of an individual's skills, achievements, or experiences, typically earned in online learning environments, professional development programs, or similar contexts aimed at showcasing competencies or accomplishments.

The primary components of digital badges encompass platforms and services. A digital badge platform functions as an online system facilitating the creation, issuance, and management of digital badges to acknowledge achievements or skills. These badges come in various types, including participation, recognition, achievement, contribution, and certification, catering to a wide array of applications such as military, entertainment, gaming, education, corporate training, healthcare, retail, and sports. These badges are utilized by a diverse range of end users, including individuals, governments, academic institutions, non-profit organizations, and corporations, among others.

The digital badges research report is one of a series of new reports from The Business Research Company that provides digital badges market statistics, including the digital badges industry's global market size, regional shares, competitors with a digital badges market share, detailed digital badges market segments, market trends and opportunities, and any further data you may need to thrive in the digital badges industry. This digital badges market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The digital badges market size has grown exponentially in recent years. It will grow from $0.52 billion in 2023 to $0.65 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The expansion observed during the historical period can be attributed to several factors, including heightened adoption within formal education settings, the proliferation of online learning platforms, increased utilization of mobile devices for learning purposes, the growing trend of gamifying learning experiences, and a notable surge in digital learning initiatives.

The digital badges market size is expected to see exponential growth in the next few years. It will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 24.6%. Growth is expected in corporate training adoption, alternative credentialing, lifelong learning focus, personalized pathways, and globalized education and workforce. Major trends include blockchain integration, LMS integration, enhanced analytics, customization, and talent management system integration.

The digital badges market is anticipated to experience significant growth due to increased emphasis on professional development and recognition. Professional development involves acquiring and enhancing skills, knowledge, and experiences relevant to one's career, while recognition acknowledges individuals for their achievements and contributions. Digital badges offer a portable and verifiable way to showcase these skills and accomplishments, making them valuable assets for individuals in their careers. For example, a study conducted by Treetop Therapy in 2022 found that 68% of companies incorporate e-learning courses in their employee training programs, indicating the widespread acceptance of online learning for professional advancement. This trend is further supported by the growing adoption of online learning platforms, with over 98% of US firms planning to integrate online learning into their programs by 2022. As a result, the increasing focus on professional development and recognition is driving the growth of the digital badges market.

Leading companies in the digital badges market are concentrating on developing advanced solutions, such as verifiable digital credentials, to enhance user experience and engagement. Verifiable digital credentials are cryptographic representations of qualifications, achievements, or attributes that can be securely verified. These credentials establish trust in digital badges, making them reliable indicators of skills and accomplishments in various domains. For instance, O'Reilly Media Inc. launched a digital badging program in November 2023, allowing IT professionals to demonstrate their skills in high-demand technical roles such as AI. The badges are based on the Open Badges 2.0 standard, providing learners with a transparent record of their achievements that can be easily shared across platforms like LinkedIn and other social media platforms.

In January 2022, Pearson, a UK-based education and publishing company, acquired Credly for $200 million, aiming to bolster its presence in the workforce skills sector. Credly is a US-based platform specializing in issuing, earning, and sharing digital badges and credentials. This acquisition enhances Pearson's capabilities in workforce analysis, learning, and assessment, aligning with the growing demand for credible digital credentials in the professional development landscape.

Major companies operating in the digital badges market are Siemens Aktiengesellschaft, Pearson plc, Mozilla Corporation, Skillsoft Corporation, Instructure Inc., PeopleCert International Ltd., O'Reilly Media Inc., International Institute of Business Analysis (IIBA), Parchment Inc., Ebizon NetInfo Pvt. Ltd., Accredible Limited, AXELOS Limited, ARMA International, Credly Inc., Discendum Oy, Badgr by Concentric Sky Inc., NOCTI Business Solutions, Basno Inc., Digitary Australia Pty. Ltd., Learning Vault Pty. Ltd., Forall Systems Inc, IMS Global Learning Consortium, Inc., Badge List Pty. Ltd., BadgeCert Inc., CertifyMe.Net LLC, Sertifier Inc., Certif-ID International GmbH, DevSquirrel Technologies Pvt. Ltd., Hyperstack Pty Ltd, TruScholar Inc., ForAllSystems Inc.

North America was the largest region in the digital badges market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the digital badges market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the digital badges market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital badges market includes revenues earned by entities by providing services such as recognition of achievement, credentialing, verification and authentication, skill development tracking, facilitating collaboration, and professional development within communities of practice. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Digital Badges Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on digital badges market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for digital badges? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The digital badges market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Component: Platform; Services
2) By Type: Participation; Recognition; Achievement; Contribution; Certification
3) By Application: Military; Entertainment; Games; Education; Corporate Training; Healthcare; Retail; Sports; Other Applications
4) By End-User: Individuals; Government; Academic Institutions; Non-profit Organizations; Corporate; Other End-Users
Companies Mentioned: Siemens AG; Pearson plc; Mozilla Corporation; Skillsoft Corporation; Instructure Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17730

1. Executive Summary

2. Digital Badges Market Characteristics

3. Digital Badges Market Trends And Strategies

4. Digital Badges Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Digital Badges Market Size and Growth

5.1. Global Digital Badges Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Digital Badges Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Digital Badges Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Digital Badges Market Segmentation

6.1. Global Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Platform
Services
6.2. Global Digital Badges Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Participation
Recognition
Achievement
Contribution
Certification
6.3. Global Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Military
Entertainment
Games
Education
Corporate Training
Healthcare
Retail
Sports
Other Applications
6.4. Global Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Individuals
Government
Academic Institutions
Non-profit Organizations
Corporate
Other End-Users

7. Digital Badges Market Regional And Country Analysis

7.1. Global Digital Badges Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Digital Badges Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Digital Badges Market

8.1. Asia-Pacific Digital Badges Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Digital Badges Market

9.1. China Digital Badges Market Overview
9.2. China Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Digital Badges Market

10.1. India Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Digital Badges Market

11.1. Japan Digital Badges Market Overview
11.2. Japan Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Digital Badges Market

12.1. Australia Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Digital Badges Market

13.1. Indonesia Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Digital Badges Market

14.1. South Korea Digital Badges Market Overview
14.2. South Korea Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Digital Badges Market

15.1. Western Europe Digital Badges Market Overview
15.2. Western Europe Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Digital Badges Market

16.1. UK Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Digital Badges Market

17.1. Germany Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Digital Badges Market

18.1. France Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Digital Badges Market

19.1. Italy Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Digital Badges Market

20.1. Spain Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Digital Badges Market

21.1. Eastern Europe Digital Badges Market Overview
21.2. Eastern Europe Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Digital Badges Market

22.1. Russia Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Digital Badges Market

23.1. North America Digital Badges Market Overview
23.2. North America Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Digital Badges Market

24.1. USA Digital Badges Market Overview
24.2. USA Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Digital Badges Market

25.1. Canada Digital Badges Market Overview
25.2. Canada Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Digital Badges Market

26.1. South America Digital Badges Market Overview
26.2. South America Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Digital Badges Market

27.1. Brazil Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Digital Badges Market

28.1. Middle East Digital Badges Market Overview
28.2. Middle East Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Digital Badges Market

29.1. Africa Digital Badges Market Overview
29.2. Africa Digital Badges Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Digital Badges Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Digital Badges Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Digital Badges Market Competitive Landscape And Company Profiles

30.1. Digital Badges Market Competitive Landscape
30.2. Digital Badges Market Company Profiles
- 30.2.1. Siemens AG
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Pearson plc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Mozilla Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Skillsoft Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Instructure Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Digital Badges Market Other Major And Innovative Companies

31.1. PeopleCert International Ltd.
31.2. O'Reilly Media Inc.
31.3. International Institute of Business Analysis (IIBA)
31.4. Parchment Inc.
31.5. Ebizon NetInfo Pvt. Ltd.
31.6. Accredible Limited
31.7. AXELOS Limited
31.8. ARMA International
31.9. Credly Inc.
31.10. Discendum Oy
31.11. Badgr by Concentric Sky Inc.
31.12. NOCTI Business Solutions
31.13. Basno Inc.
31.14. Digitary Australia Pty. Ltd.
31.15. Learning Vault Pty. Ltd.

32. Global Digital Badges Market Competitive Benchmarking

33. Global Digital Badges Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Digital Badges Market

35. Digital Badges Market Future Outlook and Potential Analysis

35.1 Digital Badges Market In 2028 - Countries Offering Most New Opportunities
35.2 Digital Badges Market In 2028 - Segments Offering Most New Opportunities
35.3 Digital Badges Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer