Research Nester recently published report titled “Digital Badges Market Outlook: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global digital badges market in terms of market segmentation by type, offering, end user and region.
The increasing requirement to gain skills, knowledge and learning beyond the boundaries of one’s domain has resulted in emergence of digital badges, which represent the skill set earned by an individual in different fields. Educational institutes have added digital badges into their micro-credential courses for evaluating the learners’ progress and achievements. The digital badges market is anticipated to record a CAGR of 22.7% over the forecast period i.e. 2019-2027 on the back of growing adoption of online learning and micro-credential courses in educational institutions and enterprises. Additionally, integration of block chain technology into the digital badges to verify official records, favorable government policies for adopting innovative technology in the education sector and growing global acceptance of badges are some of the factors that are expected to boost the market growth.
The market is segmented by type, offering and end user. On the basis of offerings segment, the market is further bifurcated into platforms and services, out of which, the platform offering segment is anticipated to have the largest growth rate owing to increasing integration in the existing learning management systems. The end user segment is further segmented into education, corporate, and others, out of which, the education segment is expected to hold leading market share on the back of rising adoption of micro-credential courses in the credit programs for enhancing the skills and knowledge of the students in different subjects.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa, out of which, the market in North America region is estimated to hold leading shares in the global digital badges market owing to rising competition among learners to gain more skills and growing adoption of micro-credential courses in educational sector in this region.
Rise in e-Learning Courses to Boost the Demand for Digital Badges
The increasing acceptance of digital badges globally on the back of their ability to be shared on social networking platforms such as LinkedIn among others combined with rising need to expand the skills and knowledge of students or employees in different fields is anticipated to boost the growth of the market in upcoming years.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Digital Badges Market
Inadequate availability of software applications along with internet connection in developing countries is anticipated to hamper the market growth.
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.
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 LearningTimes, Credly Inc., Accredible, Nocti Business Solutions, RedCritter Corp., Accreditrust Technologies LLC, Concentric Sky Inc., Forall Systems Inc., Blackboard Inc. and Badgecraft. The profiling 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 will 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.