The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Digital Badges Market Size. The growth sectors of the Digital Badges Market Size are identified with precision for a better growth perspective.
According to Market Research Future, the global digital badges market is segmented into type, end-users, and region.
Digital badges are images that certify and acknowledge skills of a person or entity. Growing advancements in technology has encouraged IT professionals to gain expertise in their domain. Moreover, government support for recognizing and validating digital badges has fueled the growth of digital badges market globally. These digital badges are widely accepted by educational institutes across the globe for issuing extra credits to students.
By type, the market is segmented into participation badges, recognition badges, achievement badges, contribution badges, and certification badges. Each badge is provided to the individual specifying a certain accomplishment that the individual has achieved. Participation badges are rolled out when an individual shows involvement in any activity of the course the individual is attending. Whereas, recognition badges are allotted to an individual for development of any skill. The achievement badges are provided to individuals after completion of any project or module. The contribution badges are provided when individuals or groups contribute their share to a project that results into the advancement of that project. However, a certification badge depicts participation and accomplishment of certification or lecture on a particular topic.
By end-users, the market is segmented into education, corporate, retail, gaming, transportation, and others. The education segment is categorized into K-12 and higher studies segment. Whereas, the corporate segment is categorized into small and medium enterprises (SMEs), and large enterprises. The market of education segment is expected to dominate the digital badges market owing to acceptance of digital badges by the government for recognition and validation of an individual’s skill set. However, the gaming segment is expected to register the fastest growth owing to increase in the number of skill-enhancing games.
The key players in the digital badges market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are — Credly Inc. (US), Accredible (US), Nocti Business Solutions (US), RedCritter Corp. (US), Accreditrust Technologies LLC (US), Concentric Sky Inc. (US), Forall Systems Inc. (US), Blackboard Inc. (US), Badgecraft (Lithuania), and LearningTimes LLC (US). These players contribute a major proportion towards market growth.
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