"Smart Strategies, Giving Speed to your Growth Trajectory"

Digital Badge Market Size, Share & COVID-19 Impact Analysis, By Type (Achievement and Contribution, Participation and Recognition, and Certification), By End-User (Associations, Training Providers, Universities/Education, Corporations, and Nonprofit Organizations), and Regional Forecast, 2023 – 2030

Last Updated: June 24, 2024 | Format: PDF | Report ID: FBI108605

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global digital badge market size was valued at USD 193.0 million in 2022 and is projected to grow from USD 225.5 million in 2023 to USD 748.2 million by 2030, exhibiting a CAGR of 18.7%. North America dominated the global market with a share of 35.25% in 2022.


A digital badge is a digital representation of skills, achievements, or competencies acquired by an individual. It is a simple, flexible, and cost-effective way for learners to showcase their achievements or validation of the skills they have acquired in front of potential employers.


The digital badge market growth is driven by several factors, such as increasing adoption of online certification in various sectors and rising focus on enhancing an employee’s technical knowledge and skills. In addition, the evolution of technology has increased the demand for these badges. Due to the availability of enhanced tools and platforms, it is now easier than ever to create and offer these badges, thus driving the global market share. As stated in the World Economic Forum's Future Jobs Report, by 2025, 50% of all employees will require reskilling due to increased adoption of technology at workplaces.


COVID-19 IMPACT


Increased Demand for Online Learning during COVID-19 Pandemic Fueled Market Development


The spread of the novel Coronavirus boosted the adoption of these badges as employees and HR personnel were dedicated to bridging the skills gap created by the remote work culture. While digital recruitment methods had largely replaced the traditional methods of hiring, important skills acquired through these badges could distinguish candidates from other applicants. As the use of online learning platforms increased and businesses invested in the development of their staff’s skills, this market observed a significant potential for expansion.


Moreover, the increasing adoption of digital learning systems by end-users drove the market during the post-COVID-19 period. During the pandemic, Unnati issued digital certificates and badges via CertifID in January 2021. This helped them better manage their students' experience and data.


LATEST TRENDS


Growing Adoption of Blockchain Technology in Digital Badges to Propel Market Growth


The use of blockchain-based stackable digital badges in professional training has increased learner engagement and become a verifiable, trustworthy credentialing portfolio unique to each employee. These badges contain cryptographically secured metadata that shows who earned them, how they were issued, and duration of the journey that the learners have to complete.


Receiving a digital badge as a credit for achievements enhances employee engagement. According to the Voice of the Learner in 2022, nine out of ten learners give importance to a learning record throughout their career journeys. This is achieved through these badges that are stored on the Blockchain, which help teachers develop and enhance their skills.


Request a Free sample to learn more about this report.


DRIVING FACTORS


Rising Focus on Employee’s Professional Development to Aid Market Growth


Digital badges can be an incentive for employees by recognizing their successes and giving them a sense of accomplishment. Companies can achieve a favorable working environment where employees are valued and encouraged to strive for excellence through the recognition and celebration of their hard work and achievements. Consequently, there has been an increased level of involvement by employees, leading to greater job satisfaction, improved productivity, and reduced turnover.


These advantages are driving the growth of this market. As a result, several companies are taking advantage of it, which is leading to the market’s growth. For instance,



  • In February 2021, Openpath, a company specializing in touchless access control and security automation for the built environment, reimagined digital badging capabilities with custom designs, two-way communication, and enterprise-grade security features to close the gap between physical and digital security.


RESTRAINING FACTORS


Technical Integration and Privacy Concerns to Hinder Market Expansion


Complex integrations and security issues can hinder the market’s expansion over the coming years. Moreover, the adoption of these badges can get hampered by its resistance to change capability from traditional methods. Traditional methods were used earlier wherein advanced technologies such as automation, digitalization, and so on were not involved. To address these challenges, organizations should identify a digital badging system that is compatible with their existing systems and can provide excellent integration capabilities.


SEGMENTATION


By Type Analysis


Achievement & Contribution Segment Dominates Owing to Rising Need to Recognize Learning Achievements


Based on type, the market is segmented into achievement & contribution, participation & recognition, and certification. The achievement and contribution segment dominated the digital badge market share in 2022. A digital type of badge offers a more complete and dynamic representation of each person's skills and expertise, enabling recognition of their learning achievements. Organizations use these badges to help individuals share their educational achievements. For instance, in May 2021, Specified Technologies, Inc., a player in the firestop sector, announced that it had introduced digital badges for the accomplishment of its distance learning and online educational courses.


The certification segment is expected to record the highest CAGR during the forecast period. Certifications aid employers' understanding of the specific skills and abilities acquired by prospective candidates. They also help validate the skills gained by employees, which can be used to enhance their career growth. A digital wallet can be created by certificate holders to store and display their certificates easily.


By End-User Analysis


To know how our report can help streamline your business, Speak to Analyst


Associations Segment Leads Due to Increasing Interest of Employers in Competency Learning Provided by Associations


Based on end-user, the market is categorized into associations, training providers, universities/education, corporations, and nonprofit organizations. The associations segment dominated the market in 2022. Associations are well placed to take advantage of the increased interest of employers and learners in competency-based learning. Innovations in these badges and introduction of new products and services are factors helping associations increase their value and support their growth. To accelerate the program’s growth and increase its income, associations can decrease time in the recognition process, reduce the costs of issuing a certification, and obtain powerful marketing tools.


The universities/education segment is expected to record a higher CAGR during the forecast period. These badges can be applicable for all areas and levels of learning, including objectives and targets. Virtual credentialing systems allow students to demonstrate new skills and competencies gained from the introduction of new content. This is one of the main uses for badges in higher education institutes and universities. According to UPCEA and Modern Campus research in April 2022, 71% of university administrators agree that the development of new credentials is a key element in meeting revenue and enrollment targets for their institutions.


REGIONAL INSIGHTS


Regionally, the market is fragmented into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.


North America Digital Badge Market Size, 2022 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample


North America held a major market share in 2022. Key market players across the region are increasing their investments and collaborations in digital badging. The growth of the regional market is attributed to the rising adoption of digital authentication and increasing partnerships of educational institutions with different programs. The market is also growing due to the region's strong online education and internet infrastructure.


To know how our report can help streamline your business, Speak to Analyst


Asia Pacific is anticipated to record the highest growth rate during the forecast period. The regional market’s growth is fueled by the innovation of digital badges and new solutions offered by the key market players. In addition, the region has seen a sharp increase in its higher education levels and several Asian countries are launching pilot programs to increase the use of these badges.


The Middle East & Africa is expected to register the second-highest growth rate in the global market during the forecast period. Advancements in blockchain technologies used for digital badging have boosted the market’s growth in the region.


KEY INDUSTRY PLAYERS


Market Players to Enter Mergers, Partnerships, Product Development Strategies, and Acquisitions to Increase Reach


Key players operating in the global market are focusing on increasing participation, building their brand, and finding new customers across social media. These companies are trying to acquire local and small-scale organizations to increase their business operations. Moreover, mergers, strategic partnerships, acquisitions, and high investments will also help them boost their market presence.


List of Key Companies Profiled:  



KEY INDUSTRY DEVELOPMENTS:



  • April 2023: Cengage collaborated with Accredible to bridge the skills gap by offering digital badging and micro credentials. When students finish assessments and prove proficiency in Microsoft Office 365 skills, they can easily earn achievement badges by taking introductory computing courses and using Cengage's online learning platform, MindTap. For no additional fee, students can add badges to their digital resumes, online portfolios, or LinkedIn profiles.

  • February 2023: Isograd, the maker of Tosa certifications - a digital skills certification company with global accreditation, launched a new digital badging program for its Tosa-certified users. A corresponding Tosa digital badge is now awarded to those who have passed the Tosa certification test.

  • February 2023: NSDC International Ltd., a subordinate of the National Skill Development Corporation (NSDC) under the government of India selected Certif-ID GmbH, to enable the deployment of its digital credentials and future work platform to support India's talent in gaining employment and recognition opportunities around the world.

  • September 2022: PeopleCert acquired Quality Assurance Institute (QAI) certifications in software testing, business analysis, and software quality. This acquisition reinforced PeopleCert's commitment to further improving the lives of people utilizing internationally recognized certifications.

  • April 2022: Instructure Inc. acquired Concentric Sky, the inventor of Badgr. The micro-credential tool under Canvas Learning Management System (LMS), Badgr was rebranded to ‘Canvas Badges’ as it participated in the Instructure learning platform. The agreement showed Instructure's assurance to build a platform for unified training and teaching in the education sector and support lifelong learning.


REPORT COVERAGE


An Infographic Representation of Digital Badge Market

To get information on various segments, share your queries with us



The report provides a detailed analysis of the market and focuses on key aspects, such as leading companies and key end-users of the product. Besides, it offers insights into the latest market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.


REPORT SCOPE & SEGMENTATION










































ATTRIBUTE



DETAILS



Study Period



2017-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2017-2021



Growth Rate



CAGR of 18.7% from 2023 to 2030



Unit



Value (USD Million)



 


 


 


 


Segmentation



By Type



  • Achievement and Contribution

  • Participation and Recognition

  • Certification


By End-User



  • Associations

  • Training Providers

  • Universities/Education

  • Corporations

  • Nonprofit Organizations


By Region



  • North America (By Type, End-User, and Country)


    • U.S. (By End-User)

    • Canada (By End-User)

    • Mexico (By End-User)


  • South America (By Type, End-User, and Country)


    • Brazil (By End-User)

    • Argentina (By End-User)

    • Rest of South America


  • Europe (By Type, End-User, and Country)


    • U.K. (By End-User)

    • Germany (By End-User)

    • France (By End-User)

    • Italy (By End-User)

    • Spain (By End-User)

    • Russia (By End-User)

    • Benelux (By End-User)

    • Nordics (By End-User)

    • Rest of Europe


  • Middle East & Africa (By Type, End-User, and Country)


    • Turkey (By End-User)

    • Israel (By End-User)

    • GCC (By End-User)

    • North Africa (By End-User)

    • South Africa (By End-User)

    • Rest of the Middle East & Africa


  • Asia Pacific (By Type, End-User, and Country)


    • China (By End-User)

    • Japan (By End-User)

    • India (By End-User)

    • South Korea (By End-User)

    • ASEAN (By End-User)

    • Oceania (By End-User)

    • Rest of Asia Pacific







Frequently Asked Questions

The market is projected to reach USD 748.2 million by 2030.

In 2022, the market value stood at USD 193.0 million.

The associations segment is likely to lead the market based on end-user.

Rising focus on employees’ professional development is expected to aid market growth.

Pearson, PeopleCert, Accredible, Skillsoft, Instructure, Inc., Certif-ID International GmbH., Sertifier Inc., BadgeCert, Digitary Australia Pty Ltd, and BadgeList are the top players in the global market.

North America is expected to hold the largest market share.

Asia Pacific is expected to record the highest growth rate during the forecast period.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2017-2030
  • 2022
  • 2017-2021
  • 120

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

Lg
Yahoo
Panasonic
Google
Samsung

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X