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$200+ Million Digital Badges Market - Global Forecast to 2023
[August 10, 2018]

$200+ Million Digital Badges Market - Global Forecast to 2023


DUBLIN, Aug 10, 2018 /PRNewswire/ --

The "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" report has been added to ResearchAndMarkets.com's offering.

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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 educaton technology to involve students, expand their presence globally, and avoid campus congestion.



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.

Market Dynamics

Drivers

  • Growth in the Adoption of Online Education
  • Increasing Focus on Employees' Professional Development
  • Use of Blockchain for Digital Badges

Restraints

  • Lack of IT Infrastructure in Developing Countries

Opportunities

  • Growing Emphasis on Lifelong Learning
  • Gamification in the Education Industry

Challenges

  • Lack of Digital Badge Equivalents
  • Budget Constraints for Educational Institutions

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Digital Badges Market, By Offering

7 Market By End-User

8 Market By Region

9 Competitive Landscape

10 Company Profiles

  • Accredible
  • Accreditrust
  • Badge List
  • Badgecraft
  • Basno
  • Be Badges
  • Bestr
  • Concentric Sky
  • Credly
  • Discendum
  • EbizOn
  • Forall Systems
  • LearningTimes
  • Nocti Business Solutions (NBS)
  • Portfolium
  • Professional Examination Service (ProExam)
  • Youtopia

For more information about this report visit https://www.researchandmarkets.com/research/65nkg2/200_million?w=5

 

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Cision View original content:http://www.prnewswire.com/news-releases/200-million-digital-badges-market---global-forecast-to-2023-300695443.html

SOURCE Research and Markets


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