Digital Badges Market Size to Reach USD 365.1 Million by 2028 at CAGR 17.1% - Valuates Reports

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BANGALORE, India, Feb. 16, 2022 /PRNewswire/ -- The Digital Badges Market is Segmented by Type (Virtual Badges, Real Badges), Application (Military, Entertainment Game, Education, Other). The report covers global opportunity analysis and industry forecasts from 2022 to 2028.

The global Digital Badges market size is projected to reach USD 365.1 Million by 2028, from USD 118.9 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 17.1% during forecast period 2022-2028.

Major Factors Driving The Growth Of Digital Badges Market Are:

The digital badge market is expected to be driven by the growing demand for digital learning via various online platforms. Game design and game mechanics are used in non-game contexts to encourage learning, and digital badges are associated with gamification of learning.

Furthermore, Digital Badges certify micro-credentials that help employers develop power skills and industry-specific skills. They're simple to make, manage, and distribute. This makes them appealing to both job seekers and employers looking for the trusted, verifiable digital proof. This factor is expected to contribute to the market's continued growth.

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Trends Influencing The Growth Of The Digital Badges Market:

The digital badges market is being driven by growth in e-learning and distance education, as well as increased adoption of online learning and investments by companies in the professional skill development of their employees. Furthermore, the growing shift toward gamification of the learning and education industry, particularly in developing and developed countries, as well as the increasing use of blockchain in digital badges, fuels market growth, and the rise in online certification has encouraged businesses to accept digital certifications and badges, as well as the growing emphasis on lifelong learning, are expected to provide significant opportunities for the market.

The growth of the digital badges market can be attributed to the increasing adoption of online certification across the IT industry. These badges have the same level of recognition as physical badges and are widely accepted around the world. Companies can use Digital Badges to automate the hiring process, eliminate unnecessary tests, and use a more evidence-based approach to screening. Employers can fine-tune their hiring practices by predicting fit and performance in ways that a traditional diploma cannot.

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Digital Badges Market Share Analysis:

Based on region, Asia-Pacific is expected to be the most lucrative. By providing personalized learning environments and catering to the market's fluctuating demands, many learning solution vendors are expanding their reach and exploring opportunities in the APAC region. To provide a continuous learning environment, these vendors are allowing the integration of digital badges into their solutions for social learning, mobile learning, and adaptive learning.

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Key Players

• Credly
• Open Badge Factory
• Pearson Education
• Youtopia
• BadgeCraft
• Forallsystems
• Knowledgestreem
• Makewaves
• Basno
• Ame Duncan
• Mozilla
• Concentric Sky
• IMS Global Learning Consortium
• Others

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