Digital Badges Market

Digital Badges Market – Overview

A digital identification is an approved mark of achievements, abilities, and quality that can be procured in many learning environments. They are portrayals of achievements or awards for abilities an individual has acquired over a period. These badges should be visible on sites to ensure their credibility and give power to business processes. They have acquired notoriety in the industry from their job as a critical subset of digital credential components that permits one to get to and check abilities and achievements online. It tends to be acquired in a scope of learning environments, including formal as well as casual environments.

Digital badges are graphical portrayals of customary capabilities (endorsements and recognitions) yet contain blockchain confirmed metadata that depicts the capability and the interaction expected to acquire them. Completely different from customary capabilities, they can nor be replicated nor messed with and can be effectively shared online. Digital badges are acquiring fascination in the online learning industry; in any case, it is as yet viewed as in the nascent stage, likely because of the absence of lucidity in their applications. Gamification in the schooling industry is giving huge development to the digital badges market.

The report on the global digital badges market offers a 360-degree overview of the market and its key growth parameters such as drivers, restraints, challenges, and upcoming growth opportunities. These factors have a direct influence on the market that may be positive or negative. Besides this, the report further discusses the impact of the novel COVID19 pandemic and the key strategies adopted by players to attract high revenues during this period. The report also discusses the table of segmentation and mentions the names of the leading segment with factors attributing to its growth. List of players and their key contributions in the form of product launch, merger and acquisition, and quality control tactics are also mentioned in the report.

Digital Badges Market – Competitive Landscape

Earlier, the nature of the global digital badges market was consolidated on account of the presence of few players. But eventually it is getting fragmented because of the expanding number of corporates, for example, Cisco and IBM, who are offering certification programs for their representatives as well as the rising focal point of universities and schools on formal as well as casual learning. Competitors are engaging in merger and acquisition strategies and other collaborations to ensure a high position in the overall market competition. Besides this, major investments in research and development activities will also help players gain a competitive edge in the overall market competition.

Some of the key players of the global Digital Badges market include:

• Professional Examination Service
• Concentric Sky Inc.
• PortFolium Inc.
• Forall Systems Inc.,
• Accreditrust Technologies LLC
• Nocti Business Solutions
• EbizON
• Learning Times
• Credly Inc.
• Other players

Digital Badges Market – List of Innovations

• Two new complementary platforms namely HPass and Acclaim badges by HAP Credentialing Program were inaugurated in February 2019.
• A leading English language test called the Occupational English Test (OET) was launched for healthcare professionals for recognizing successful test takers with digital badges in September 2019.

Digital Badges Market – Growth Drivers

Development in e-learning and distance training as well as an expansion in reception of online learning and venture by organizations on proficient ability improvement of their workers are the main considerations that drive the digital badges market development. Moreover, the developing movement towards gamification of the learning and instruction industry, particularly in developed and emerging nations, and the increment of blockchain in digital badges, fills the development of the market. Nonetheless, the absence of an IT foundation in businesses and financial plan requirements by instructive organizations hamper the development of the digital badges market. Moreover, an expansion in online certification has urged undertakings to acknowledge digital certifications and badges, and development in accentuation on deep-rooted learning is expected to give significant open doors to the market.

Digital Badges Market – Regional Analysis

Regionwise, Asia Pacific emerges as the fastest growing region with major revenue generation from China, South Korea, and India. Besides this, digital badges play a pivotal role in developing nations such as India where most people in rural areas are restricted the access to quality learning and skill enhancement. Factors such as communication issues, physical limitations, and financial barriers can be overcome by opting for online skills programs, thereby acting as growth driver for the regional market.