The global digital badges market is getting prominence from the evolving semiconductor industry and is expected to show an impressive CAGR of 18% from 2018 to 2023 the forecast period. The market is also set to gain a valuation of USD 213.8 million by the end of the forecast period.
Digital badges are a kind of presentation of an award or achievement for the skills which an individual has gained from a time. These symbolize authenticity and can be seen on websites to certify its originality to provide authority for business processes.
Market Drivers & Trends
The global digital badges market is witnessing a substantial growth over the years attributed to the swelling adoption of online certification across the IT industry. These online badges carry similar recognition as physical badges and are globally accepted. The online business entity now uses digital badges to make their expertise authentic and reliable to clients. These factors are emerging as a strong component behind the market’s growth during the forecast period.
Applications of badges are abundantly found in the gaming and retail sector with the purpose of tracking the progress of an individual or group. These badges are going excellent in top gaming parts, which portrays authenticity and gathers more people to play, thus gaining traction in terms of importance. The badges are being popular as it has the ability to contain information about the type of badge, for what it has been used as an award so that any individual or a group can identify about the particular game is yet another prime factor contributing towards market growth substantially.
On the flip side, the progress of digital badges market can be restrained in following up growth graph in the foreseeable years owing to deprived IT infrastructure in the developing regions. Such a lack of IT infrastructure is limiting the proliferation of digital badges in educational institutes. The market pursues growth opportunities as online certification has stimulated enterprises to accept digital certifications and badges and has also encouraged old professionals and employees to adopt the latest technologies and get up-to-date in their domain.
Regional Analysis
The global digital badges market consist of key regions such as North America, Asia Pacific, Europe, and the Rest of the World. The Rest of the World includes Latin America, and the Middle East and Africa. Currently, the North American market has captured the largest share of the market. The region is also expected to grow at the highest CAGR during the assessment period. The increasing competition for better job opportunities has encouraged working professionals to take up online certifications, thus driving the demand for digital badges. Moreover, enterprises are encouraging employees to include certifications which are further driving digital badges in the region. The U.S is the leading country-level market due to the vast number of certification providers present in the country.
Meanwhile, the European market is expected to witness growth with a similar pattern as that of North America. Growing adoption of online education is expected to drive the European market. U.K and Italy are the leading country-level markets in the region.
Key Players
Credly Inc. (US), RedCritter Corp. (US), Concentric Sky Inc. (US), Nocti Business Solutions (US), Blackboard Inc. (US), Accreditrust Technologies LLC (US), Forall Systems Inc. (US), Badgecraft (Lithuania), LearningTimes LLC (US), and Accredible (US) are among the top level market players identified in the report. MRFR has identified their various strategies and details regarding market presence. Other players include Portfolium Inc. (US), YouTopia (Canada), Basno Inc. (US), Professional Examination Service (ProExam) (US), Badge List (US), Bestr (Italy), EbizOn (India), and Discendum OY (Finland) and others.
More Information@ https://www.marketresearchfuture.com/reports/digital-badges-market-6706
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.acom
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