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Global Digital Badges Market: Overview

The digital badges market has been receiving increasing momentum from the rapid strides being made by the online learning and education industry across the world. Digital badges have gained popularity in the industry from their role as a key subset of digital credential mechanism that allows one to access and verify skills and accomplishments online. Digital badges can be earned in a range of learning environments, including formal as well as informal settings. These badges are fast gaining attraction in the online learning industry but the market is still considered in nascent stages, probably due to the lack of clarity in their applications.

Various services and platforms associated with awarding of digital badges are offered to corporates and those in the education industry. These credentials can be demanded by or awarded to a wide range of entities such those pursuing credentials of achievements in higher education, executive education, MOOCs, associations, training programs, and bootcamps. They can be verified by interested stakeholder by accessing meta-data and in easy to understand visual format.

The insights offered in the study help participants shed light on the current trends shaping new frontiers in the global digital badges market. The critical assessment of demand dynamics of digital badges in various regions help in gives in-depth idea of key untapped application segments.

Global Digital Badges Market: Trends and Opportunities

The rising demand for digital learning and social learning through online media is an important trend bolstering the demand for digital badges. The digital badges market is also benefitting from rising volumes of investments by companies on the professional skills development of their employees. This is a crucial trend in various industries. The growing shift toward gamification of the learning and education industry, especially in developing and developed countries, has created lucrative avenues in the market. The increasing focus of professionals on the need for constantly upgrading their skill sets is catalyzing the expansion of the global digital badges market. The advent of professional development programs by prominent ERP providers such as SAP, Oracle, SAS, and IBM is fueling the swift expansion of the digital badges market.

However, the prospects in the global digital badges market are hampered by the paucity of robust infrastructure in several emerging regions. The slow pace adoption of digital credential programs in Africa is a case in point. Moreover, the lack of universal acceptability across institutions and countries is a key challenge for providers of digital badges in various parts of the world. Nevertheless, the growing trend toward gamification has more people in its ambit. 

Global Digital Badges Market: Regional Outlook

Based on regional outlook, developing regions, are expected to be potentially attractive markets for digital badges. The growth is fueled by rapid pace new product launches and improvements. The growing focus of employers on talent development is also expected to boost these regional markets. Developed regions, such as the U.S., are expected to witness new avenues in the market. This is attributed to the numerous products being constantly launched to meet a wide variety of needs of skills and learning of end users. 

Key Players Mentioned in the Report

The growing number of strategic partnerships by various players is focused on delivering end to end solutions. Several vendors are engaging in strategic tie ups and partnerships to expand their product portfolio, with an aim on consolidating their geographic outreach. Some of the key players operating in the global digital badges market are Badgecraft, Forall Systems, Portfolium, Discendum, ProExam, and Credly.

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Digital Badges Market

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