Research Nester released a report titled “Digital Badges Market: Global Demand Analysis Opportunity Outlook 2027” which delivers the detailed overview of the global digital badges market in terms of market segmentation by type, by offerings, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global digital badges market is segmented by badges, offerings, end-user and region. On the basis of offerings, it is sub-segmented into platforms and services, out of which, the platform offering segment is anticipated to grow with highest growth rate on the back of increasing integration in the existing learning management systems. Shareability allows the learners to share digital badges on different platforms including social media, e-mails, blogs, LinkedIn, curriculum vitae and different other websites and platforms. These are some of the credible characteristics that are anticipated to drive people towards digital badges, further driving the growth of the market. Additionally, growing technological innovations for educating students is supporting the growth of market.
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The digital badges market is anticipated to grow at a CAGR of 22.7% over the forecast period i.e. 2019-2027. The growth of the market is driven on the back of rising need to constantly evaluate the learners’ skills and knowledge in the academic and corporate sector. Global acceptance of badges, rising government policies to adopt innovative and new technologies in the education sector and growing adoption of e-learning and micro-credential courses are some of the notable factors that are expected to boost the growth of digital badges market over the forecast period.
By region, the global digital badges market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. Among these regions, the North America market of digital badges is expected to lead the global market on the back of rising competition among learners to gain more skills and knowledge in different fields in order to grab the opportunities available in the market. The market in Asia Pacific region is estimated to witness fastest growth on the back of increasing focus of organizations to hone the skills of their employees, honing their talent by providing appropriate training.
Growing Trend of e-Learning to Augment Market Growth
Growing adoption of e-learning in education sector for enhancing the skills and knowledge of the learners to gain competitive advantage globally is expected to boost the market growth of digital badges. Additionally, the market is estimated to witness substantial growth owing to global acceptance of digital badges on diverse range of media platforms, driving more number of individuals to apply for eLearning courses.
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However, inadequate availability of software and non-availability of physical devices, especially in developing economies is estimated to hinder the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global digital badges market which includes company profiling of key companies such as LearningTimes, Credly Inc., Accredible, Nocti Business Solutions, RedCritter Corp., Accreditrust Technologies LLC, Concentric Sky Inc., Forall Systems Inc., Blackboard Inc. and Badgecraft. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global digital badges market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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