HOME Top Market Reports Digital Badges Market by Offering (Platform and Services), End User (Academic (K-12 and Higher Education) and Corporate (SMEs and Large Enterprises)), and Region (North America, Europe, APAC, and Row) - Global Forecast to 2023

Digital Badges Market by Offering (Platform and Services), End User (Academic (K-12 and Higher Education) and Corporate (SMEs and Large Enterprises)), and Region (North America, Europe, APAC, and Row) - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: August 2018
Report Code: TC 6508

 

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The global digital badges market size was USD 65.0 million in 2017 and is expected to reach USD 205.6 million by 2023, growing at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. The base year considered for the study is 2017 and the forecast period is 2018–2023.

Objectives of the Study

  • To determine and forecast the global digital badges market by offering, end-user, and region from 2018 to 2023 and analyze various macroeconomic and microeconomic factors that affect the market growth
  • To forecast the size of the market segments with respect to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall digital badges market
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To profile the key market players; provide comparative analysis based on their business overviews, service offerings, regional presence, business strategies, and key financials; and provide companies with in-house statistical tools to understand the competitive landscape
  • To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities in the digital badges market

The research methodology used to estimate and forecast the digital badges market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the digital badges adoption rate and digital badges pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the digital badges market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.

The figure below depicts the break-up of the profiles of primary discussion participants:

Digital Badges Market

To know about the assumptions considered for the study, download the pdf brochure

The digital badges market ecosystem includes major players, such as Credly (US), Accredible (US), Accreditrust (US), Badgecraft (Lithuania), Badgelist (US), Basno (US), Be Badges (Belgium), Bestr (Italy), Concentric Sky (US), Discendum (Finland), EbizON (India), Forall Systems (US), LearningTimes (US), Nocti Business Solutions (US), Portfolium (US), ProExam (US), and Youtopia (US).

Key Target Audience

  • Digital badge platform providers
  • IT service providers
  • Badge issuers
  • Digital badge displayers
  • Digital badge designers
  • Cloud service providers
  • Consultants/consultancies/advisory firms
  • Training and education service providers

Scope of the Report

The report considers platforms, services, and end users to arrive at the global market size for digital badges during the forecast period.

By Offering

  • Platform
  • Services

By End User

  • Academic
    • K-12
    • Higher Education
  • Corporate
    • SMEs
    • Large Enterprises

By Region

  • North America
  • Europe
  • APAC
  • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customization as per your company’s specific requirements. The following customization options are available for this report:

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Breakdown of Primaries
           2.1.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 21)

4 Premium Insights (Page No. - 24)
    4.1 Attractive Market Opportunities in the Market
    4.2 Digital Badges Market, By Offering, 2018 vs 2023
    4.3 Market By End-User, 2018–2023
    4.4 Market By Academic Type, 2018 vs 2023
    4.5 Market By Corporate Type, 2018–2023
    4.6 Market Investment Scenario

5 Market Overview and Industry Trends (Page No. - 27)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growth in the Adoption of Online Education
                    5.2.1.2 Increasing Focus on Employees’ Professional Development
                    5.2.1.3 Use of Blockchain for Digital Badges
           5.2.2 Restraints
                    5.2.2.1 Lack of IT Infrastructure in Developing Countries
           5.2.3 Opportunities
                    5.2.3.1 Growing Emphasis on Lifelong Learning
                    5.2.3.2 Gamification in the Education Industry
           5.2.4 Challenges
                    5.2.4.1 Lack of Digital Badge Equivalents
                    5.2.4.2 Budget Constraints for Educational Institutions
    5.3 Industry Trends
           5.3.1 Introduction
           5.3.2 Open Badge Infrastructure
           5.3.3 Case Studies

6 Digital Badges Market, By Offering (Page No. - 32)
    6.2 Platform
    6.3 Services

7 Market By End-User (Page No. - 36)
    7.1 Introduction
    7.2 Academic
           7.2.1 K-12
           7.2.2 Higher Education
    7.3 Corporate
           7.3.1 Small and Medium-Sized Enterprises
           7.3.2 Large Enterprises

8 Market By Region (Page No. - 44)
    8.1 Introduction
    8.2 North America
    8.3 Europe
    8.4 Asia Pacific
    8.5 Rest of the World

9 Competitive Landscape (Page No. - 58)
    9.1 Overview
    9.2 Market Ranking Analysis for the Digital Badges Market
    9.3 Competitive Scenario
           9.3.1 New Product Launches
           9.3.2 Mergers and Acquisitions
           9.3.3 Agreements and Partnerships

10 Company Profiles (Page No. - 61)
*Details on Business Overview, Platforms Offered, Recent Developments and MnM View
     10.1 Credly
     10.2 Accredible
     10.3 Professional Examination Service (ProExam)
     10.4 Discendum
     10.5 Portfolium
     10.6 Accreditrust
     10.7 Badge List
     10.8 Badgecraft
     10.9 Basno
     10.10 Be Badges
     10.11 Bestr
     10.12 Concentric Sky
     10.13 EbizOn
     10.14 Forall Systems
     10.15 LearningTimes
     10.16 Nocti Business Solutions (NBS)
     10.17 Youtopia
(Business Overview, Platforms Offered, Recent Developments and MnM View)

11 Appendix (Page No. - 80)
     11.1 Discussion Guide
     11.2 Knowledge Store: MarketsandMarkets’ Subscription Portal
     11.3 Available Customizations
     11.4 Related Reports
     11.5 Author Details

List of Tables (36 Tables)

Table 1 Digital Badges Market Size, By Offering, 2016–2023 (USD Million)
Table 2 Platform: Market Size, By Region, 2016–2023 (USD Million)
Table 3 Services: Market Size, By Region, 2016–2023 (USD Million)
Table 4 Digital Badges Market Size, By End-User, 2016–2023 (USD Million)
Table 5 Academic: Market Size, By End-User, 2016–2023 (USD Million)
Table 6 Academic: Market Size, By Region, 2016–2023 (USD Million)
Table 7 K-12 Market Size, By Region, 2016–2023 (USD Million)
Table 8 Higher Education Market Size, By Region, 2016–2023 (USD Million)
Table 9 Corporate: Market Size, By End-User, 2016–2023 (USD Million)
Table 10 Corporate: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Small and Medium-Sized Enterprises Market Size, By Region, 2016–2023 (USD Million)
Table 12 Large Enterprises Market Size, By Region, 2016–2023 (USD Million)
Table 13 Digital Badges Market Size, By Region, 2016–2023 (USD Million)
Table 14 North America: Market Size, By Country, 2016–2023 (USD Million)
Table 15 North America: Market Size, By Offering, 2016–2023 (USD Million)
Table 16 North America: Market Size, By End-User, 2016–2023 (USD Million)
Table 17 North America: Market Size, By Academic End-User, 2016–2023 (USD Million)
Table 18 North America: Market Size, By Corporate End-User, 2016–2023 (USD Million)
Table 19 Europe: Digital Badges Market Size, By Country, 2016–2023 (USD Million)
Table 20 Europe: Market Size, By Offering, 2016–2023 (USD Million)
Table 21 Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 22 Europe: Market Size, By Academic End-User, 2016–2023 (USD Million)
Table 23 Europe: Market Size, By Corporate End-User, 2016–2023 (USD Million)
Table 24 Asia Pacific: Digital Badges Market Size, By Country, 2016–2023 (USD Million)
Table 25 Asia Pacific: Market Size, By Offering, 2016–2023 (USD Million)
Table 26 Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 27 Asia Pacific: Market Size, By Academic End-User, 2016–2023 (USD Million)
Table 28 Asia Pacific: Market Size, By Corporate End-User, 2016–2023 (USD Million)
Table 29 Rest of the World: Digital Badges Market Size, By Region, 2016–2023 (USD Million)
Table 30 Rest of the World: Market Size, By Offering, 2016–2023 (USD Million)
Table 31 Rest of the World: Market Size, By End-User, 2016–2023 (USD Million)
Table 32 Rest of the World: Market Size, By Academic End-User, 2016–2023 (USD Million)
Table 33 Rest of the World: Market Size, By Corporate End-User, 2016–2023 (USD Million)
Table 34 New Product Launches/Product Enhancements, 2016–2017
Table 35 Mergers and Acquisitions, 2018
Table 36 Agreements and Partnerships, 2017–2018

List of Figures (26 Figures)

Figure 1 Digital Badges Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Global Digital Badges Market: Research Design
Figure 4 Research Methodology
Figure 5 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Digital Badges Market is Expected to Witness Significant Growth During the Forecast Period
Figure 10 Major Segments With High Market Shares in the Global Digital Badges Market During the Forecast Period
Figure 11 Digital Badges Regional Market Scenario
Figure 12 Increasing Focus on Online Learning is Driving the Digital Badges Market
Figure 13 Platform Segment is Estimated to Hold A Larger Market Share in 2018 vs 2023
Figure 14 Academic Segment is Expected to Lead the Market During the Forecast Period
Figure 15 Higher Education Segment to Lead the Digital Badges Market During the Forecast Period
Figure 16 Large Enterprises Segment to Hold A Higher Market Share During the Forecast Period
Figure 17 Market Investment Scenario
Figure 18 Digital Badges Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Open Badge Infrastructure
Figure 20 Platform Segment is Expected to Hold the Larger Market Share During the Forecast Period
Figure 21 Academic Segment is Expected to Hold the Larger Market Share During the Forecast Period
Figure 22 Asia Pacific is Expected Grow at the Highest CAGR During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players in the Digital Badges Market During 2016–2018
Figure 26 Market Ranking, 2018

MarketsandMarkets expects the global digital badges market size to grow from USD 83.3 million in 2018 to USD 205.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Major drivers of the market include the growing adoption of online learning, increasing focus on employees’ professional development, and use of blockchain in digital badges.

The report covers the digital badges market by offering (platform and services), end user (academic and corporate), and region. The platform segment is expected to hold a larger market size and grow at a higher rate during the forecast period. The major driving factor is the increased integration of the platform with the existing Learning Management Systems (LMS). End users are increasingly drawn toward the platform’s shareability feature that enables the learner to share badges to different social networks and over emails; embed them in websites or email signatures; and integrate with the ePortfolio, virtual learning environments, blogs, and curriculum vitae.

The academic end-user segment is expected to hold a larger market size during the forecast period, as the segment has started promoting credentials as a way for teachers and others to gain professional learning in discrete topics and practices. Universities and educational institutions are leveraging innovative developments in the education technology to involve students, expand their presence globally, and avoid campus congestion.

Digital Badges Market

In the global digital badges market by region, North America is expected to hold the largest market size during the forecast period. Major growth factors for the North American market include increasing adoption of digital badges driven by their authenticity, a growing demand for specific skills among individuals, increasing collaboration among educational institutions, and rapid technological advancements. Large presence of firms that utilize the digital badge technology would also contribute to the market growth. The digital badges market in APAC is expected to record growth at the fastest rate, as academic institutions and corporate houses in the region have started adopting smart eLearning solutions. Organizations in APAC are trying their best to gain better RoI on talent development, fulfill employee learning requirements, offer proper employee training, and receive quantifiable business outcomes.

Lack of good IT infrastructure hinders the growth of digital badges market in the countries of developing regions. The absence of suitable roadmaps to utilize digital technologies, such as eLearning, social learning, and adaptive learning in developing countries, could also restrain for the market growth. Top vendors in the digital badges market, such as Credly, Accredible, ProExam, Discendum, and Portfolium, have adopted partnerships and collaborations to expand their regional presence and enhance their platform capabilities.

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