Digital Badges Market Size (2024 - 2029)

Digital Badges Market Analysis

The Digital Badges Market size is estimated at USD 202.29 million in 2024, and is expected to reach USD 515.03 million by 2029, growing at a CAGR of 17.38% during the forecast period (2024-2029).

• Digital badges are micro-credentials that serve as a mechanism for assessing, recognizing, and verifying a skill, learning, or achievement. These badges are commonly used by an extensive range of education institutions and businesses, e.g., Adobe, Dell, IBM, Microsoft, or Oracle, which contribute substantially to the growth of this market.
• In addition, students increasingly use online portfolios to record their internship experiences, group projects, volunteer experiences, and other achievements, as well as courses taken both online and in the classroom, in one place. This helps improve networking opportunities for students and professionals, stimulating the market's growth.
• In the US Bureau of Labor Statistics, computer and information technology jobs are expected to increase by 12% between 2018 and 2028 compared with an average growth rate in all occupations. The number of new jobs in these sectors is estimated at around 546,000. This demand for such workers will be driven by a greater emphasis on cloud computing, data collection, and security over the forecast period, giving rise to an increased scope of market growth.
• Moreover, the mobile badging solution helps ensure a comprehensive and consistent safety and security experience for all your company's corporate apps, whether web or mobile. It notifies companies directly at the door in case of cybersecurity issues so they can take appropriate action without delay. The market is expected to grow significantly in the coming period, given these key benefits associated with it.
• The need for good IT infrastructure in emerging regions like Africa and Asia, which will lead to insufficient awareness of digital badges, has been a primary limiting factor for market growth.
• Since employees and HR focus on bridging skills gaps due to their workfrom home cultures, the spread of novel coronaviruses has led to an increased adoption of digital badges. Moreover, owing to end users' growing uptake of digital learning systems, the digital badges market is expected to experience significant growth during the post-COVID-19 period. In the forecast period, this is expected to boost market growth.

Digital Badges Industry Segmentation

Badges typically represent competencies not shown on a transcript, including learning from internships, volunteer work, and other co-curricular activities. Increasingly, badges conform to the Open Badges standard, and many are stackable, meaning they can be credited toward an advanced badge, a certificate, or a degree.

The digital badges market can be segmented by end-use (academic, corporate) and geography (North America, Europe, Asia Pacific, Rest of the World).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.