Pune, India, Nov. 27, 2023 (GLOBE NEWSWIRE) — The global Digital Badge Market size was valued at USD 193.0 million in 2022 and is projected to reach USD 748.2 million by 2030, exhibiting a CAGR of 18.7% during the forecast period. Fortune Business Insights presents this information in their report titled “Global Digital Badge Market Forecast, 2023-2030.”
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A digital badge digitally represents the achievements, competencies, and skills obtained by an individual. It is a simple and cost-effective way for employees to showcase their achievements and skills in front of potential employers. Factors such as increasing focus on improving an employee’s technical skills & knowledge and rising use of online certification are expected to boost the market growth.
Notable Industry Development:
August 2023- The University of Phoenix provided that it had offered more than 450 digital badges to eligible participants at its 2nd annual comprehensive career fair and leadership summit. Besides a broader commitment to skill-aligned programs and training, the University has given a chance to participants to earn these badges.
Key Takeaways
- Digital Badge Market size in North America was USD 68.4 million in 2022
- COVID-19 Boosted Demand for Online Learning, Augmented Market Progress
- Demand for Achievement & Contribution Badges to Rise Due to Increasing Need to Recognize Learning Achievements
- Rising Interest in Competency-based Learning Among Employers to Fuel Product Demand Among Associations
Discover the Leading Players Featured in the Report:
“Companies leading the global Digital Badge Market are Pearson (U.K.), PeopleCert (U.K.), Accredible (U.S.), Skillsoft (U.S.), Instructure, Inc. (U.S.), Certif-ID International GmbH. (Germany), Sertifier Inc. (U.S.), BadgeCert (U.S.), Digitary Australia Pty Ltd. (Australia), BadgeList (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 18.7% |
| 2030 Value Projection | USD 748.2 million |
| Base Year | 2022 |
| Digital Badge Market Size in 2022 | USD 193.0 million |
| Historical Data for | 2017 to 2021 |
| No. of Pages | 120 |
| Segments covered | Type, End-Use and Geography |
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Drivers and Restraints:
Growing Emphasis On Employee’s Professional Development to Boost Market Forecast
Digital badges help companies recognize and appreciate their employees’ work, which can be a great incentive for them. Organizations can significantly improve their working environment and employees’ productivity with the help of these badges. This is why they are increasing their focus on making and distributing such badges to enhance their employees’ skills at the workplace, which will further accelerate market growth.
However, data security concerns and complex integrations can hamper the digital badge market growth.
Segmentation
By Type
- Achievement and Contribution
- Participation and Recognition
- Certification
By Industry
- Associations
- Training Providers
- Universities/Education
- Corporations
- Nonprofit Organizations
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Dominate Market Due to Increasing Investments in Digital Badging
North America is dominating the global market share as the key market players across the region are increasing their investments in digital badges. Moreover, the region is witnessing a robust increase in the adoption of digital authentication technologies, which will further drive the regional market’s growth.
Asia Pacific is projected to record the highest CAGR in the coming years due to the introduction of novel digital badging solutions and innovations in digital badges.
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Competitive Landscape:
Market Leaders to Focus On Corporate Growth Strategies to Increase Remain Dominant
Some of the top companies operating in the digital badge market are entering a wide range of partnerships, mergers, and acquisitions to assert their dominance in the market. They are also acquiring small and local companies to expand their business operations.
FAQs
How big is the Digital Badge Market?
The Digital Badge Market size was USD 193.0 million in 2022. It is expected to reach USD 748.2 million by 2030.
How fast is the Digital Badge Market growing?
The Digital Badge Market will exhibit a CAGR of 18.7% during the forecast period, 2023-2030.
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