Global Digital Badges in Education Market estimated at USD 128.6 million in the year 2019, Is Projected to Reach a Revised Size of USD 418.8 million by 2025

October 05, 2021, New York, USA - Digital Badges in Education: Introduction

Indication of accomplishment or skill that can be displayed, accessed and verified online is called the Digital Badge. You can earn these badges in a wide variety of environments, an increasing number of which are online. 

Their origins were in the video game industry. Programmer Nick Pelling coined the term "gamification" and was the first person to apply video games and the experience gained from real-world processes.

Digital badges contain embedded metadata that provides greater confirmation of the qualifications. They include shareable information on the badge issuer, the receiver, the criteria for issuing, date of issue, expiration date, as well as standards that have been adhered to and proof of accomplishment.

Benefits of Digital Badges in Education:

The appropriate badges are a sign of valid abilities that employers are seeking. They're simple to make and manage, as well as distribute. They improve the hiring process because they enable organizations to adopt a more informed approach. By gamification, badges improve learners' engagement and increase participation in HR and training programs. Most importantly, digital badges provide superior quality over traditional badges with the finer specifics of accomplishments.

The Global Digital Badges in Education Market Forecast: 

The worldwide digital badge market for education was estimated at USD 128.6 million in the year 2019 and is expected to reach around USD 418.8 million in 2025. It will register a compound annual growth rate of 18.34%over the period 2020 to 2025.

Digital badges are digital copies of traditional certificates, but they have verified metadata that provides details about the certification and how to attain it. In contrast to traditional credentials, they are not able to be copied or altered and can easily be distributed online. They can be obtained through various environments, including online platforms, where there is a growing demand for them.

The market for digital badges is experiencing steady growth because of the rapid advances in the education and online learning sector worldwide. Digital badges have been gaining popularity in the market because of the role as a vital part of the digital identity mechanism that allows online access to and verification of achievements and skills. Digital badges are available in a range of learning settings, which include formal and informal environments. They are quickly gaining popularity in the field of online learning; however, the market is at an early stage, perhaps due to a lack of clarity regarding their application.

The various platforms and services that are related to the awarding of digital credentials are provided to stakeholders and companies within the educational sector. These credentials can be used for or given to many different organizations, including students seeking qualifications in higher education and associations, as well as training programs and boot camps.

Market Trend and Growth of the Global Digital Badges in Education Market:

The introduction of digital badges brought about a new method of evaluating students according to their preferred learning style in the classroom. Students can be awarded by their overall performance, not just a test that is designed to encourage learning. Digital badges enable educators to acknowledge students' accomplishments. These achievements could take place in the area of education and positive behaviour, effort and skills, etc. They may also be awarded for students who are determined to achieve their goals, encourage and promote learning.

Digital badges can be integrated into all levels and fields of education, including objectives and goals. Researchers from a group conducted a study in the year 2018 to analyze the impact that digital badges have on the identification of learning goals and the determination of students to reach them. The results were favourable. The study investigates how digital certificates can be effective as educational tools and also how to best utilize them in higher educational institutions. Other ways to use badges in higher education are digital accreditation systems that permit students to showcase newly learned abilities and learn new material.

Market Drivers and Market Restraints for the Global Digital Badges in Education Market:

The increasing demand for online learning and social learning through digital media is a significant trend that is increasing demands for digital badges. The market for digital badges is also profiting from an increase in the number of investments made by corporations to improve the competence of their staff. This is a significant development in a variety of sectors. The move to digital education and learning, particularly in developing countries, is creating exciting opportunities in this sector. The increasing attention paid by professionals on the need to continuously improve their skills is driving the growth of the global online badge industry. The emergence of professional development programs offered by the top ERP vendors like SAP, Oracle, SAS and IBM is fuelling the rapid expansion of the market for digital badges.

However, the future of the world market for digital badges is hindered by the absence of robust infrastructure in a number of emerging regions. The slow acceptance of accreditation systems for digital certificates in Africa is an example of this. Additionally, the absence of universal acceptance between the countries and institutions is a major obstacle for the providers of digital credentials across different regions of the world. But, the trend of gamification is attracting more individuals in the sector.

The Key Market Segmentation of the Global Digital Badges in Education Market: 

Global Digital Badges in Education Market can be divided into Product Types, Applications, and Geographical landscapes, etc. 

Digital Badges in Education Market Segmentation By Product Type:

Virtual Badges

Real Badges

Digital Badges in Education Market Segmentation By Application:

Higher Education

K-12

Digital Badges in Education Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

Middle East and Africa

Major Key Players in the Global Digital Badges in Education Market Are:

Accreditrust

BadgeCraft

Forallsystems

Concentric Sky

Pearson Education

Open Badge Factory

Makewaves

Credly

Youtopia

Basno

Accredible

Knowledgestreem

The Covid-19 Impact Analysis:

It is obvious that the Covid-19 epidemic has negative effects on all industries, but in the same way, it has also become an opportunity for digital products. The rising demand for working from home culture as well as the lockdown of countries bans on travelling and the measures to disengage physical barriers, are opening up new opportunities for digital education that will likely grow without interruption in the years to come. This will boost demands for digital badges over the near future.

The Global Digital Badges in Education Market Report Highlights:

According to the regional outlook, the global market is distributed across North America, Asia Pacific, Latin America, Europe and the Middle East and Africa.

The regions that are developing, such as the Asia Pacific, should be potentially appealing markets to develop digital badges. Growth is driven by the rapid rate of new releases and upgrades. Also, it is expected that the increasing focus of employers on developing talent will spur these markets in the region.

The more developed regions, such as the United States, should experience new opportunities for market development. This is due to the numerous products being introduced to satisfy various end-user requirements for learning and skills.