Digital Badges Market Size and Share Analysis – Growth Trends
& Forecasts (2024 – 2028)

The Digital
Badges Market is estimated at
USD 0.2 billion in 2023 and is projected to reach USD 0.5 billion by 2028, at a
CAGR of 16.5% from 2023 to 2028. The digital badge system helps in promoting
the professional development and recognizing the employee skills in a
transparent manner. It is designed to motivate employees to participate in the
professional development program and acknowledge their completion of learning
programs.

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List of Top Companies

·      
Digital
badges Pearson (UK)

·      
Instructure
(US)

·      
SkillSoft
Corporation (US)

·      
PeopleCert
(UK)

·      
Accredible
(US)

·      
Parchment
(US)

·      
EbizON
(India)

·      
Accreditrust
Technologies (US)

·      
Badgecraft
(Lithuania)

·      
Badge
List (US)

·      
Bestr
(Italy)

By end user, academic segment is estimated to account for the
largest market share in 2023.

Digital badges have gained popularity in academic settings
due to their numerous advantages for educational institutions and learners.
These badges serve as digital representations of specific achievements or
skills earned by students. They offer micro-credentialing, recognizing granular
accomplishments beyond traditional grades or degrees. Digital badges serve as
motivators, encouraging student engagement and progress. They support
personalized learning by aligning with individual pathways and interests. Portability
and shareability make it easy for students to showcase their badges on various
platforms, enhancing their digital presence. Moreover, digital badges provide
evidence of skills and competencies, boosting students' employability. They
promote lifelong learning, provide feedback and assessment, and foster
collaboration and recognition within academic communities. By incorporating
digital badges, academic institutions can enhance motivation, personalize
learning experiences, and provide valuable credentials to students.

By type, certification badge is expected to register the
largest market size during the forecast period.

Certification digital badges are digital credentials that
verify an individual's successful completion of a specific training program,
course, or certification. These badges serve as a visual representation of the
individual's mastery of knowledge and skills in a particular area. They are
typically issued by educational institutions, professional organizations, or
industry bodies. Certification badges serve as a valuable tool for career
advancement. They demonstrate a commitment to continuous learning and professional
development, which is highly valued in many industries. These badges can open
new job opportunities, promotions, or higher salaries, as they validate the
individual's specialized knowledge and skills. certification badges contribute
to building professional networks and communities Furthermore, certification
digital badges provide a convenient and easily shareable form of credential.
They can be displayed on professional websites, social media profiles, or
online portfolios, making it easier for individuals to showcase their
qualifications to a wider audience. Certification badges also benefit employers
and clients by providing a reliable means of evaluating a candidate's
qualifications. These badges offer a quick and visual way to assess an individual's
expertise, streamlining the hiring or selection process.

Middle East and Africa is expected to have the second-highest
growth rate

In comparison to other regions, such as Europe and Asia
Pacific, the Middle East & Africa is embracing Digital Badges solutions and
services at a slower rate. Middle East & Africa is experiencing
technology-driven education trends, as governments in the region are making
efforts to improve the education sector. Kuwait is also supporting eLearning
across its schools, and as part of the e-education plan, it has even
digitalized all school textbooks. Turkey, too, has adopted an education
supporting initiative and planned to provide tablets to more than 15 million
students across 40,000 schools by 2022. Qatar is also in support of eLearning
for its students and offered personal learning devices to students as part of
its e-education initiatives. These developments show that the Middle East is
already on its way to digitalize its education processes, backing it up the
eLearning trend and moving the education sector toward innovations.

Market Players

The major vendors covered in the Digital badges Pearson (UK),
Instructure (US), SkillSoft Corporation (US),  PeopleCert (UK), Accredible
(US), Parchment (US), EbizON (India), Accreditrust Technologies (US),
Badgecraft (Lithuania), Badge List (US), Bestr (Italy), Basno (US), Saarni
Learning Oy (Finland), ForAllSystems (US), LearningTimes (US), Nocti Business
Solutions (US), Knowledge Catalyst, Learning Vault, Hyperstack (US), TruScholar
(India), CredSure.io (Germany), CertifyMe (US), Convergence.Tech (Canada), Open
Badge Factory (Finland), Sertifier (US), Certopus (India), and Virtualbadge.io
(Germany).

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