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Digital Badges Market Size

  • Report ID: GMI2882
  • Published Date: Aug 2023
  • Report Format: PDF

Digital Badges Market Size

Digital Badges Market size was valued at USD 213.8 million in 2023 and is projected to register a CAGR of 20.2% between 2024 and 2032, driven by the growing popularity of remote and E-learning. The online learning domain has undergone a noticeable shift in recent years, with massive online open courses (MOOCs) exploding in popularity. According to data gathered by educationdata.org, even after governments relaxed social distancing requirements, 33% of college and trade school administrators plan to provide students with both online and offline education options.

 

 

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Besides, an article published in The Journal in 2021 highlighted the ways in which education is changed forever and predicted that teachers will become “massive social media influencers in the coming years. The growth of remote and online learning, accelerated by factors like the COVID-19 pandemic, has increased the demand for digital credentials. Online courses, workshops, and training programs often issue badges to participants upon completion, demonstrating a positive influence on the digital badges market.
 

Digital badges enable micro-credentialing, where learners can earn badges for specific skills or competencies. These can be stacked to create a comprehensive profile of a person's abilities, making them attractive to employers seeking specialized skills. Besides, these are easily shareable across various platforms, including social media, professional networking sites, and email signatures.
 

For instance, LinkedIn allows users to ass digital badges to their profiles to showcase their skills and accomplishments. Similarly, Facebook and Instagram let users share digital badges in posts, stories, and on their timelines. This promotes personal branding and visibility, making it easier for individuals to showcase their expertise to a wider audience, thus, boosting product adoption rate.
 

However, while the concept of digital badges has gained some traction, there is still limited awareness and understanding among the general population, employers, and educational institutions. The lack of widespread adoption can limit the overall growth and acceptance of digital badges as a valid form of recognition.
 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Digital badges industry size was USD 180.8 million in revenue in 2022 and is projected to observe over 20.2% CAGR from 2023 to 2032, driven by the growing popularity of remote and E-learning platforms worldwide.

The services segment held over 60% of the digital badge industry revenue share in 2022 and is estimated to gain significant traction through 2032, attributed to rising demand for verifiable and granular evidence of skills and accomplishments.

North America digital badges industry held over 38% share in 2022 and is expected to exhibit robust growth from 2023-2032 attributed to the emphasis on lifelong learning, the need for skill validation, and the rise of online education in the region.

Some of the top companies engaged in the digital badges industry are Credly Inc, International Institute of Business Analysis, Skillsoft Corporation, Accredible, Skillsoft Corporation Inc., Forall Inc., and Nocti Business Solutions.

Digital Badges Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 264
  • Countries covered: 18
  • Pages: 250
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