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.
To get key market trends
Download Free Sample
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 Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Digital Badges Market Size in 2023 |
USD 213.8 Million |
| Forecast Period |
2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR |
20.4% |
| 2032 Value Projection |
USD 1.11 Billion |
| Historical Data for |
2018 – 2023 |
| No. of Pages |
250 |
| Tables, Charts & Figures |
264 |
| Segments covered |
Type, Offering, End user |
| Growth Drivers |
- Growing shift towards online learning
- Rising digital transformation in organizations
- Increasing gamification in education sector
- Incorporation of blockchain technology with digital badges
- Rising focus on employee’s professional development
|
| Pitfalls & Challenges |
- Low presence of IT infrastructure in developing countries
- Limited acceptance of digital badges across universities
|
What are the growth opportunities in this market?
Download Free Sample
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.
COVID-19 Impact
The COVID-19 pandemic had a profound impact on the digital badges market. As traditional learning shifted to remote and online formats, the demand for digital credentials surged. Educational institutions and training providers rapidly adopted digital badges to certify virtual course completions. Platforms like Coursera and edX reported increased badge issuance. However, challenges emerged due to the abrupt transition, including concerns about standardization and verifying skills. Despite these hurdles, the pandemic accelerated the integration of digital badges into virtual learning landscapes, fostering their recognition and adoption.
Digital Badges Market Trends
Digital badges provide a transparent record of a person's achievements and the skills they have acquired. This transparency can help bridge the skills gap and align job seekers' capabilities with employer needs. The emergence of dedicated platforms and marketplaces for badge creation, issuance, and display has streamlined the process for organizations, educators, and learners. For instance, BadgeCert, launched in 2022, is a platform that makes it easy for organizations to create, issue, store, and share digital badges. It offers a variety of features, including badge applications, milestone badges, multilingual badges, and PDF badges.
Likewise, BadgeCollect, introduced in 2022, allows individuals and businesses to create, design, issue, and endorse Open Badges. It also offers a gamified experience to motivate learners. These platforms provide tools to design, issue, and manage digital badges effectively, propelling the growth and popularity of the market expansion.
Digital Badges Market Analysis
Learn more about the key segments shaping this market
Download Free Sample
The services segment held over 60% of the digital badges market share in 2023, due to their ability to provide verifiable and granular evidence of skills and accomplishments. As the job market evolves and traditional qualifications are complemented by specialized skills, digital badges offer a dynamic way to showcase expertise. They cater to the growing demand for continuous learning and micro-credentialing, providing individuals with a visual representation of their achievements. Moreover, the ease of sharing badges across digital platforms enhances personal branding and facilitates employer recognition, further driving their widespread adoption.
Learn more about the key segments shaping this market
Download Free Sample
The certification segment accounted for 25% of the digital badges market share in 2023. Digital badge certifications are experiencing high demand due to their flexibility, specificity, and immediate value. In contrast to traditional certifications, which often require extensive time and financial commitments, digital badges offer the opportunity to earn and showcase targeted skills quickly. They align with the fast-paced nature of industries and cater to those seeking to upskill rapidly. As employers increasingly prioritize specialized proficiencies, digital badges provide a tangible and shareable way for individuals to demonstrate their expertise, making them a sought-after credential in the evolving job market.
Looking for region specific data?
Download Free Sample
North America digital badges market held a market share of over 38% in 2023 and is expected to grow at a notable CAGR from 2023 to 2032. In North America, the adoption of digital badges is driven by factors such as the emphasis on lifelong learning, the need for skill validation, and the rise of online education. As industries evolve, professionals seek continuous skill development, and digital badges offer a tangible way to demonstrate these capabilities. Educational institutions and organizations are leveraging badges to enhance their online courses, providing participants with recognized credentials. The tech-savvy culture and the demand for innovative ways to showcase achievements further contribute to the growing acceptance and integration of digital badges in the region.
Digital Badges Market Share
Major companies operating in the digital badges industry include
- Credly Inc
- International Institute of Business Analysis
- Skillsoft Corporation
- Accredible
- Skillsoft Corporation Inc.
- Forall Inc.
- Nocti Business Solutions
These companies focus on improving the badge platform's features, user interface, and functionality to enhance user experience and engagement and also integrate emerging technologies like blockchain for secure verification and data integrity
Digital Badges Industry News
- In April 2023, SkillSoft, a global provider of digital solutions for businesses, partnered with Accreditrust, a leading provider of digital credentialing services. This partnership will allow SkillSoft to offer its customers a more comprehensive suite of digital credentialing solutions, including Accreditrust's expertise in credential assessment and verification.
The Digital Badges market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
By Offering, 2018 – 2032
By Type, 2018 – 2032
- Recognition
- Participation
- Achievement
- Contribution
- Certification
By End User, 2018 – 2032
- Corporate
- Academic
- Government
- Non-profit organizations
- Others
The above information is provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- MEA
- South Africa
- UAE
- Saudi Arabia
Frequently Asked Questions (FAQ)
What is the size of the digital badges market?
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.
Why is the demand for digital badge services gaining traction?
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.
How big is the North America digital badges market?
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.
Who are the major players operating in the digital badges industry?
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.
