1	INTRODUCTION	30
1.1	STUDY OBJECTIVES	30
1.2	MARKET DEFINITION	30
1.3	STUDY SCOPE	31
1.3.1	MARKET SEGMENTATION	31
FIGURE 1	DIGITAL BADGES MARKET SEGMENTATION	31
1.3.2	REGIONS COVERED	31
1.3.3	INCLUSIONS AND EXCLUSIONS	32
1.3.4	YEARS CONSIDERED	32
1.4	CURRENCY CONSIDERED	32
TABLE 1	USD EXCHANGE RATES, 2020–2022	33
1.5	STAKEHOLDERS	33
1.6	RECESSION IMPACT	33
1.7	SUMMARY OF CHANGES	34
2	RESEARCH METHODOLOGY	35
2.1	RESEARCH DATA	35
FIGURE 2	DIGITAL BADGES MARKET: RESEARCH DESIGN	35
2.1.1	SECONDARY DATA	36
2.1.2	PRIMARY DATA	36
2.1.2.1	Breakdown of primary profiles	37
2.1.2.2	Key industry insights	37
2.2	MARKET SIZE ESTIMATION	38
FIGURE 3	APPROACHES USED FOR MARKET SIZE ESTIMATION	38
FIGURE 4	APPROACH 1: SUPPLY-SIDE ANALYSIS OF REVENUE FROM PLATFORMS AND SERVICES	38
2.2.1	BOTTOM-UP APPROACH	39
FIGURE 5	BOTTOM-UP APPROACH	39
FIGURE 6	APPROACH 1 (BOTTOM-UP, SUPPLY SIDE): COLLECTIVE REVENUE OF DIGITAL BADGES VENDORS	39
2.2.2	TOP-DOWN APPROACH	40
FIGURE 7	TOP-DOWN APPROACH	40
2.2.3	DIGITAL BADGES MARKET ESTIMATION: DEMAND-SIDE ANALYSIS	41
FIGURE 8	DEMAND-SIDE ANALYSIS	41
2.3	DATA TRIANGULATION	42
FIGURE 9	DATA TRIANGULATION	42
2.4	RESEARCH ASSUMPTIONS	43
2.5	LIMITATIONS	43
2.6	IMPLICATION OF RECESSION	43
3	EXECUTIVE SUMMARY	44
FIGURE 10	DIGITAL BADGES MARKET GROWTH TREND, 2023–2028 (USD MILLION)	45
FIGURE 11	DIGITAL BADGES MARKET, BY REGION, 2023	46
4	PREMIUM INSIGHTS	47
4.1	BRIEF OVERVIEW OF DIGITAL BADGES MARKET	47
FIGURE 12	INCREASE IN ENROLMENT IN ONLINE COURSES TO DRIVE DIGITAL BADGES MARKET GROWTH DURING FORECAST PERIOD	47
4.2	LEADING SEGMENTS IN DIGITAL BADGES MARKET	47
FIGURE 13	LEADING SEGMENTS IN DIGITAL BADGES MARKET IN 2023	47
4.3	DIGITAL BADGES MARKET, BY OFFERING	48
FIGURE 14	DIGITAL BADGE PLATFORMS TO DOMINATE OVER SERVICES MARKET IN 2023	48
4.4	DIGITAL BADGES MARKET, BY SERVICE	48
FIGURE 15	MANAGED SERVICES TO WITNESS HIGHER GROWTH THAN PROFESSIONAL SERVICES MARKET	48
4.5	DIGITAL BADGES MARKET, BY END USER	48
FIGURE 16	ACADEMIC END USERS TO LEAD MARKET IN 2023 AND 2028	48
5	MARKET OVERVIEW AND INDUSTRY TRENDS	49
5.1	INTRODUCTION	49
5.2	MARKET DYNAMICS	49
FIGURE 17	DIGITAL BADGES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	49
5.2.1	DRIVERS	50
5.2.1.1	Growth in adoption of online education	50
5.2.1.2	Increase in focus on employees’ professional development	50
5.2.1.3	Use of blockchain for digital badges	50
5.2.2	RESTRAINTS	50
5.2.2.1	Lack of IT infrastructure in emerging economies	50
5.2.3	OPPORTUNITIES	51
5.2.3.1	Growth in emphasis on lifelong learning	51
5.2.3.2	Gamification of education industry	51
5.2.4	CHALLENGES	51
5.2.4.1	Lack of digital badge equivalents	51
5.2.4.2	Budget constraints for educational institutions	51
5.3	INDUSTRY TRENDS	52
5.3.1	OPEN BADGE INFRASTRUCTURE	52
FIGURE 18	OPEN BADGE INFRASTRUCTURE	52
5.3.2	ECOSYSTEM ANALYSIS	53
FIGURE 19	DIGITAL BADGES MARKET: ECOSYSTEM	53
TABLE 2	DIGITAL BADGES MARKET: ECOSYSTEM	53
5.3.3	CASE STUDY ANALYSIS	54
5.3.3.1	GMAC uses digital badges to increase visibility of admissions program	54
5.3.3.2	TruScholar modernizing WIRC of ICAI	55
5.3.3.3	JigsawMindz growing its visibility through digital badges	56
5.3.3.4	Hootsuite uses digital badges to recognize and reward learning	56
5.3.4	VALUE CHAIN ANALYSIS	57
FIGURE 20	DIGITAL BADGES MARKET: VALUE CHAIN ANALYSIS	57
5.3.4.1	Government regulatory authorities	57
5.3.4.2	Digital badge solution providers	57
5.3.4.3	Service providers	57
5.3.5	REGULATORY LANDSCAPE	58
5.3.5.1	Regulatory bodies, government agencies, and other organizations	58
TABLE 3	NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	58
TABLE 4	EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	58
TABLE 5	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	59
TABLE 6	ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	59
5.3.5.2	North America	60
5.3.5.2.1	US	60
5.3.5.2.2	Canada	60
5.3.5.3	Europe	60
5.3.5.4	Asia Pacific	60
5.3.5.4.1	China	60
5.3.5.4.2	India	60
5.3.5.5	Middle East & Africa	60
5.3.5.5.1	UAE	60
5.3.5.6	Latin America	60
5.3.5.6.1	Brazil	60
5.3.6	KEY CONFERENCES & EVENTS	61
TABLE 7	DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024	61
5.3.7	PRICING ANALYSIS	62
5.3.7.1	Average selling price of key players	62
TABLE 8	AVERAGE SELLING PRICE RANGES OF SUBSCRIPTION-BASED DIGITAL BADGE SERVICES	62
5.3.7.2	Average selling price trend	62
5.3.8	PORTER’S FIVE FORCE MODEL	63
TABLE 9	IMPACT OF EACH PORTER’S FORCE ON DIGITAL BADGES MARKET	63
5.3.8.1	Threat from new entrants	63
5.3.8.2	Threat from substitutes	63
5.3.8.3	Bargaining power of buyers	63
5.3.8.4	Bargaining power of suppliers	63
5.3.8.5	Intensity of competitive rivalry	63
5.3.9	TECHNOLOGY ANALYSIS	64
5.3.9.1	Blockchain	64
5.3.9.2	Metadata	64
5.3.9.3	Big data	64
5.3.10	PATENT ANALYSIS	64
5.3.10.1	Methodology	64
5.3.10.2	Document types	65
TABLE 10	PATENTS FILED, 2021–2023	65
5.3.10.3	Innovation and patent applications	65
FIGURE 21	NUMBER OF PATENTS GRANTED ANNUALLY, 2021–2023	65
TABLE 11	PATENTS GRANTED IN DIGITAL BADGES MARKET, 2021–2023	65
5.3.11	TRENDS AND DISRUPTIONS IMPACTING BUYERS/CLIENTS	66
6	DIGITAL BADGES MARKET, BY OFFERING	67
6.1	INTRODUCTION	68
FIGURE 22	DIGITAL BADGE SERVICES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	68
6.1.1	OFFERING: DIGITAL BADGES MARKET DRIVERS	68
TABLE 12	DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	68
TABLE 13	DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	69
6.2	PLATFORMS	69
6.2.1	SHOWCASING EXPERTISE WITH DIGITAL CREDENTIALS	69
TABLE 14	PLATFORMS: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	69
TABLE 15	PLATFORMS: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	70
6.3	SERVICES	70
TABLE 16	SERVICES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	70
TABLE 17	SERVICES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	71
TABLE 18	SERVICES: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	71
TABLE 19	SERVICES: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	71
FIGURE 23	MANAGED SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	72
6.3.1	PROFESSIONAL SERVICES	72
6.3.1.1	Gaining competitive edge in digital badges through professional services	72
TABLE 20	PROFESSIONAL SERVICES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	72
TABLE 21	PROFESSIONAL SERVICES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	73
6.3.2	MANAGED SERVICES	73
6.3.2.1	Managing digital badges through expert guidance while saving time and cost	73
TABLE 22	MANAGED SERVICES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	73
TABLE 23	MANAGED SERVICES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	74
7	DIGITAL BADGES MARKET, BY END USER	75
7.1	INTRODUCTION	76
FIGURE 24	GOVERNMENT SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	76
7.1.1	END USER: DIGITAL BADGES MARKET DRIVERS	76
TABLE 24	DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	77
TABLE 25	DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	77
7.2	ACADEMIC	77
7.2.1	NURTURING MOTIVATION AND PERSONALIZED LEARNING	77
TABLE 26	ACADEMIC: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	78
TABLE 27	ACADEMIC: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	78
TABLE 28	ACADEMIC: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	78
TABLE 29	ACADEMIC: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	78
7.2.2	K-12	79
7.2.2.1	Ensuring future-ready school and students	79
TABLE 30	K-12: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	79
TABLE 31	K-12: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	79
7.2.3	HIGHER EDUCATION	80
7.2.3.1	Complementary and supplementary credentials to traditional transcripts	80
TABLE 32	HIGHER EDUCATION: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	80
TABLE 33	HIGHER EDUCATION: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	80
7.3	CORPORATE	81
7.3.1	TANGIBLE REWARDS TO FOSTER EMPLOYEE ENGAGEMENT	81
TABLE 34	CORPORATE: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	81
TABLE 35	CORPORATE: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	82
TABLE 36	CORPORATE: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	82
TABLE 37	CORPORATE: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	82
7.3.2	SMES	83
7.3.2.1	Demand to keep track of employee competencies	83
TABLE 38	SMES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	83
TABLE 39	SMES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	83
7.3.3	LARGE ENTERPRISES	84
7.3.3.1	Standardization by aligning badge programs with desired skill frameworks to ensure consistency in training efforts	84
TABLE 40	LARGE ENTERPRISES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	84
TABLE 41	LARGE ENTERPRISES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	84
7.4	GOVERNMENT	85
7.4.1	STANDARDIZING EMPLOYEE SKILLS ACROSS ESTABLISHED FRAMEWORKS TO MEET ORGANIZATIONAL OBJECTIVES AND BUILD PUBLIC TRUST	85
TABLE 42	GOVERNMENT: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	85
TABLE 43	GOVERNMENT: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	85
7.5	NON-PROFIT ORGANIZATIONS	86
7.5.1	DIGITAL NON-PROFIT CREDENTIALS SHOWCASING EXPERTISE IN SOCIAL GOOD	86
TABLE 44	NON-PROFIT ORGANIZATIONS: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	86
TABLE 45	NON-PROFIT ORGANIZATIONS: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	86
7.6	OTHER END USERS	87
TABLE 46	OTHER END USERS: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	87
TABLE 47	OTHER END USERS: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	87
8	DIGITAL BADGES MARKET, BY TYPE	88
8.1	INTRODUCTION	89
FIGURE 25	PARTICIPATION BADGE TO REGISTER HIGHER CAGR DURING FORECAST PERIOD	89
8.1.1	TYPE: MARKET DRIVERS	89
TABLE 48	DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	90
TABLE 49	DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	90
8.2	CERTIFICATION BADGES	90
8.2.1	RELIABLE MEANS OF EVALUATING CANDIDATES’ QUALIFICATIONS FOR EMPLOYERS	90
TABLE 50	CERTIFICATION BADGES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	91
TABLE 51	CERTIFICATION BADGES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	91
8.3	RECOGNITION BADGES	91
8.3.1	ENHANCING STAKEHOLDER ENGAGEMENT	91
TABLE 52	RECOGNITION BADGES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	92
TABLE 53	RECOGNITION BADGES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	92
8.4	PARTICIPATION BADGES	92
8.4.1	MOTIVATING PARTICIPATION AND EXPANDING NETWORKS	92
TABLE 54	PARTICIPATION BADGES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	93
TABLE 55	PARTICIPATION BADGES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	93
8.5	ACHIEVEMENT BADGES	93
8.5.1	SHOWCASING ACCOMPLISHMENTS TO BUILD CREDIBILITY	93
TABLE 56	ACHIEVEMENT BADGES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	94
TABLE 57	ACHIEVEMENT BADGES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	94
8.6	CONTRIBUTION BADGES	94
8.6.1	RECOGNIZING CONTRIBUTIONS THAT MADE DIFFERENCE	94
TABLE 58	CONTRIBUTION BADGES: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	95
TABLE 59	CONTRIBUTION BADGES: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	95
9	DIGITAL BADGES MARKET, BY REGION	96
9.1	INTRODUCTION	97
TABLE 60	DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	97
TABLE 61	DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	97
9.2	NORTH AMERICA	98
9.2.1	NORTH AMERICA: RECESSION IMPACT	98
9.2.2	NORTH AMERICA: DIGITAL BADGES MARKET DRIVERS	98
FIGURE 26	NORTH AMERICA: MARKET SNAPSHOT	99
TABLE 62	NORTH AMERICA: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	99
TABLE 63	NORTH AMERICA: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	100
TABLE 64	NORTH AMERICA: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	100
TABLE 65	NORTH AMERICA: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	100
TABLE 66	NORTH AMERICA: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	100
TABLE 67	NORTH AMERICA: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	101
TABLE 68	NORTH AMERICA: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	101
TABLE 69	NORTH AMERICA: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	101
TABLE 70	NORTH AMERICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2017–2022 (USD MILLION)	102
TABLE 71	NORTH AMERICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION)	102
TABLE 72	NORTH AMERICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2017–2022 (USD MILLION)	102
TABLE 73	NORTH AMERICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2023–2028 (USD MILLION)	102
TABLE 74	NORTH AMERICA: DIGITAL BADGES MARKET, BY COUNTRY, 2017–2022 (USD MILLION)	103
TABLE 75	NORTH AMERICA: DIGITAL BADGES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	103
9.2.3	US	103
9.2.3.1	Adopted by big tech corporations to track employee skills and competencies	103
TABLE 76	US: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	103
TABLE 77	US: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	104
TABLE 78	US: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	104
TABLE 79	US: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	104
TABLE 80	US: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	104
TABLE 81	US: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	105
TABLE 82	US: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	105
TABLE 83	US: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	105
9.2.4	CANADA	106
9.2.4.1	Increase in implementation of digital badges by national professional associations	106
TABLE 84	CANADA: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	106
TABLE 85	CANADA: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	106
TABLE 86	CANADA: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	106
TABLE 87	CANADA: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	107
TABLE 88	CANADA: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	107
TABLE 89	CANADA: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	107
TABLE 90	CANADA: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	108
TABLE 91	CANADA: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	108
9.3	EUROPE	108
9.3.1	EUROPE: RECESSION IMPACT	109
9.3.2	EUROPE: DIGITAL BADGES MARKET DRIVERS	109
TABLE 92	EUROPE: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	109
TABLE 93	EUROPE: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	109
TABLE 94	EUROPE: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	109
TABLE 95	EUROPE: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	110
TABLE 96	EUROPE: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	110
TABLE 97	EUROPE: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	110
TABLE 98	EUROPE: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	111
TABLE 99	EUROPE: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	111
TABLE 100	EUROPE: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2017–2022 (USD MILLION)	111
TABLE 101	EUROPE: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION)	111
TABLE 102	EUROPE: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2017–2022 (USD MILLION)	112
TABLE 103	EUROPE: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2023–2028 (USD MILLION)	112
TABLE 104	EUROPE: DIGITAL BADGES MARKET, BY COUNTRY, 2017–2022 (USD MILLION)	112
TABLE 105	EUROPE: DIGITAL BADGES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	112
9.3.3	UK	113
9.3.3.1	Growth in interest in education, employment, and skills development sector	113
TABLE 106	UK: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	113
TABLE 107	UK: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	113
TABLE 108	UK: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	113
TABLE 109	UK: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	114
TABLE 110	UK: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	114
TABLE 111	UK: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	114
TABLE 112	UK: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	115
TABLE 113	UK: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	115
9.3.4	GERMANY	115
9.3.4.1	Increase in government initiatives	115
9.3.5	SPAIN	116
9.3.5.1	Rise in popularity of digital badges in education sector	116
9.3.6	REST OF EUROPE	116
9.4	ASIA PACIFIC	116
9.4.1	ASIA PACIFIC: RECESSION IMPACT	117
9.4.2	ASIA PACIFIC: DIGITAL BADGES MARKET DRIVERS	117
FIGURE 27	ASIA PACIFIC: MARKET SNAPSHOT	118
TABLE 114	ASIA PACIFIC: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	119
TABLE 115	ASIA PACIFIC: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	119
TABLE 116	ASIA PACIFIC: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	119
TABLE 117	ASIA PACIFIC: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	119
TABLE 118	ASIA PACIFIC: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	120
TABLE 119	ASIA PACIFIC: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	120
TABLE 120	ASIA PACIFIC: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	120
TABLE 121	ASIA PACIFIC: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	121
TABLE 122	ASIA PACIFIC: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2017–2022 (USD MILLION)	121
TABLE 123	ASIA PACIFIC: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION)	121
TABLE 124	ASIA PACIFIC: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2017–2022 (USD MILLION)	121
TABLE 125	ASIA PACIFIC: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2023–2028 (USD MILLION)	122
TABLE 126	ASIA PACIFIC: DIGITAL BADGES MARKET, BY COUNTRY, 2017–2022 (USD MILLION)	122
TABLE 127	ASIA PACIFIC: DIGITAL BADGES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	122
9.4.3	CHINA	123
9.4.3.1	Rise in number of people using mobile devices	123
TABLE 128	CHINA: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	123
TABLE 129	CHINA: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	123
TABLE 130	CHINA: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	123
TABLE 131	CHINA: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	124
TABLE 132	CHINA: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	124
TABLE 133	CHINA: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	124
TABLE 134	CHINA: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	125
TABLE 135	CHINA: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	125
9.4.4	JAPAN	125
9.4.4.1	Greater interest in lifelong learning and educational reforms	125
9.4.5	INDIA	126
9.4.5.1	Increase in value for micro-credentials and upskilling	126
9.4.6	AUSTRALIA & NEW ZEALAND	126
9.4.6.1	Rise in adoption of digital badge solutions in Australia & New Zealand	126
9.4.7	SOUTH KOREA	126
9.4.7.1	Well-developed eLearning infrastructure	126
9.4.8	REST OF ASIA PACIFIC	126
9.5	MIDDLE EAST & AFRICA	127
9.5.1	MIDDLE EAST & AFRICA: RECESSION IMPACT	127
9.5.2	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET DRIVERS	127
TABLE 136	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	127
TABLE 137	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	127
TABLE 138	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	128
TABLE 139	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	128
TABLE 140	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	128
TABLE 141	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	128
TABLE 142	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	129
TABLE 143	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	129
TABLE 144	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2017–2022 (USD MILLION)	129
TABLE 145	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION)	130
TABLE 146	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2017–2022 (USD MILLION)	130
TABLE 147	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2023–2028 (USD MILLION)	130
TABLE 148	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY REGION, 2017–2022 (USD MILLION)	130
TABLE 149	MIDDLE EAST & AFRICA: DIGITAL BADGES MARKET, BY REGION, 2023–2028 (USD MILLION)	131
9.5.3	MIDDLE EAST	131
9.5.3.1	Increase in popularity of online training and government initiatives	131
TABLE 150	MIDDLE EAST: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	131
TABLE 151	MIDDLE EAST: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	131
TABLE 152	MIDDLE EAST: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	132
TABLE 153	MIDDLE EAST: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	132
TABLE 154	MIDDLE EAST: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	132
TABLE 155	MIDDLE EAST: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	132
TABLE 156	MIDDLE EAST: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	133
TABLE 157	MIDDLE EAST: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	133
9.5.4	AFRICA	133
9.5.4.1	NGO initiatives and pilot badge programs	133
9.6	LATIN AMERICA	134
9.6.1	LATIN AMERICA: RECESSION IMPACT	134
9.6.2	LATIN AMERICA: DIGITAL BADGES MARKET DRIVERS	134
TABLE 158	LATIN AMERICA: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	134
TABLE 159	LATIN AMERICA: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	134
TABLE 160	LATIN AMERICA: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	135
TABLE 161	LATIN AMERICA: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	135
TABLE 162	LATIN AMERICA: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	135
TABLE 163	LATIN AMERICA: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	135
TABLE 164	LATIN AMERICA: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	136
TABLE 165	LATIN AMERICA: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	136
TABLE 166	LATIN AMERICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2017–2022 (USD MILLION)	136
TABLE 167	LATIN AMERICA: DIGITAL BADGES MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION)	136
TABLE 168	LATIN AMERICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2017–2022 (USD MILLION)	137
TABLE 169	LATIN AMERICA: DIGITAL BADGES MARKET, BY CORPORATE END USER, 2023–2028 (USD MILLION)	137
TABLE 170	LATIN AMERICA: DIGITAL BADGES MARKET, BY COUNTRY, 2017–2022 (USD MILLION)	137
TABLE 171	LATIN AMERICA: DIGITAL BADGES MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	137
9.6.3	BRAZIL	138
9.6.3.1	Rise in digital badges projects and initiatives	138
TABLE 172	BRAZIL: DIGITAL BADGES MARKET, BY OFFERING, 2017–2022 (USD MILLION)	138
TABLE 173	BRAZIL: DIGITAL BADGES MARKET, BY OFFERING, 2023–2028 (USD MILLION)	138
TABLE 174	BRAZIL: DIGITAL BADGES MARKET, BY SERVICE, 2017–2022 (USD MILLION)	138
TABLE 175	BRAZIL: DIGITAL BADGES MARKET, BY SERVICE, 2023–2028 (USD MILLION)	139
TABLE 176	BRAZIL: DIGITAL BADGES MARKET, BY TYPE, 2017–2022 (USD MILLION)	139
TABLE 177	BRAZIL: DIGITAL BADGES MARKET, BY TYPE, 2023–2028 (USD MILLION)	139
TABLE 178	BRAZIL: DIGITAL BADGES MARKET, BY END USER, 2017–2022 (USD MILLION)	140
TABLE 179	BRAZIL: DIGITAL BADGES MARKET, BY END USER, 2023–2028 (USD MILLION)	140
9.6.4	MEXICO	140
9.6.4.1	Potential for learning and development through NGO initiatives	140
9.6.5	REST OF LATIN AMERICA	140
10	COMPETITIVE LANDSCAPE	141
10.1	INTRODUCTION	141
10.2	STRATEGIES ADOPTED BY KEY PLAYERS	141
TABLE 180	OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS	141
10.3	HISTORICAL REVENUE ANALYSIS	142
FIGURE 28	HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS, 2020–2022 (USD MILLION)	142
10.4	MARKET SHARE ANALYSIS OF KEY PLAYERS	143
TABLE 181	DIGITAL BADGES MARKET: DEGREE OF COMPETITION	143
10.5	COMPETITIVE BENCHMARKING	143
TABLE 182	COMPETITIVE BENCHMARKING OF KEY PLAYERS	143
10.6	COMPANY EVALUATION MATRIX	145
10.6.1	COMPANY EVALUATION MATRIX METHODOLOGY	145
FIGURE 29	EVALUATION QUADRANT MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE	145
10.6.2	STARS	145
10.6.3	EMERGING LEADERS	145
10.6.4	PERVASIVE PLAYERS	146
10.6.5	PARTICIPANTS	146
FIGURE 30	EVALUATION QUADRANT MATRIX FOR KEY PLAYERS, 2023	146
10.7	COMPETITIVE SCENARIO	147
10.7.1	DEALS	147
TABLE 183	DEALS, 2020–2023	147
11	COMPANY PROFILES	149
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
11.1	PEARSON	149
TABLE 184	PEARSON: BUSINESS OVERVIEW	149
FIGURE 31	PEARSON: COMPANY SNAPSHOT	150
TABLE 185	PEARSON: PRODUCTS/SOLUTIONS/SERVICES OFFERED	150
TABLE 186	PEARSON: DEALS	151
11.2	INSTRUCTURE	152
TABLE 187	INSTRCUTURE: BUSINESS OVERVIEW	152
TABLE 188	INSTRCUTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED	152
TABLE 189	INSTRUCTURE: DEALS	153
11.3	SKILLSOFT	154
TABLE 190	SKILLSOFT: BUSINESS OVERVIEW	154
FIGURE 32	SKILLSOFT: COMPANY SNAPSHOT	155
TABLE 191	SKILLSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED	155
11.4	PEOPLECERT	157
TABLE 192	PEOPLECERT: BUSINESS OVERVIEW	157
FIGURE 33	PEOPLECERT: COMPANY SNAPSHOT	157
TABLE 193	PEOPLECERT: PRODUCTS/SOLUTIONS/SERVICES OFFERED	158
TABLE 194	PEOPLECERT: DEALS	158
11.5	ACCREDIBLE	159
TABLE 195	ACCREDIBLE: BUSINESS OVERVIEW	159
TABLE 196	ACCREDIBLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED	159
TABLE 197	ACCREDIBLE: DEALS	160
11.6	PARCHMENT	161
TABLE 198	PARCHMENT: BUSINESS OVERVIEW	161
TABLE 199	PARCHMENT: PRODUCTS/SOLUTIONS/SERVICES OFFERED	161
TABLE 200	PARCHMENT: DEALS	162
11.7	EBIZON	163
TABLE 201	EBIZON: BUSINESS OVERVIEW	163
TABLE 202	EBIZON: PRODUCTS/SOLUTIONS/SERVICES OFFERED	163
11.8	ACCREDITRUST TECHNOLOGIES	164
11.9	BADGE LIST	165
11.10	BADGECRAFT	165
11.11	BESTR	166
11.12	BASNO	166
11.13	SAARNI LEARNING OY	167
11.14	FORALL SYSTEMS	167
11.15	LEARNINGTIMES	168
11.16	NOCTI BUSINESS SOLUTIONS	168
11.17	KNOWLEDGE CATALYST	169
11.18	LEARNING VAULT	169
11.19	HYPERSTACK	170
11.20	TRUSCHOLAR	170
11.21	CERTIFYME	171
11.22	CONVERGENCE.TECH	171
11.23	OPEN BADGE FACTORY	172
11.24	SERTIFIER	173
11.25	CREDSURE	173
11.26	VIRTUALBADGE.IO	174
11.27	CERTOPUS	174
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12	ADJACENT/RELATED MARKETS	175
12.1	INTRODUCTION	175
12.2	LEARNING MANAGEMENT SYSTEM MARKET	175
12.2.1	MARKET DEFINITION	175
12.2.2	MARKET OVERVIEW	175
12.2.3	LEARNING MANAGEMENT SYSTEM MARKET, BY COMPONENT	175
TABLE 203	LEARNING MANAGEMENT SYSTEM MARKET, BY COMPONENT, 2017–2021 (USD MILLION)	176
TABLE 204	LEARNING MANAGEMENT SYSTEM MARKET, BY COMPONENT, 2022–2027 (USD MILLION)	176
12.2.4	LEARNING MANAGEMENT SYSTEM MARKET, BY DELIVERY MODE	176
TABLE 205	LEARNING MANAGEMENT SYSTEM MARKET, BY DELIVERY MODE, 2017–2021 (USD MILLION)	176
TABLE 206	LEARNING MANAGEMENT SYSTEM MARKET, BY DELIVERY MODE, 2022–2027 (USD MILLION)	177
12.2.5	LEARNING MANAGEMENT SYSTEM MARKET, BY USER TYPE	177
TABLE 207	LEARNING MANAGEMENT SYSTEM MARKET, BY USER TYPE, 2017–2021 (USD MILLION)	177
TABLE 208	LEARNING MANAGEMENT SYSTEM MARKET, BY USER TYPE, 2022–2027 (USD MILLION)	177
12.2.6	LEARNING MANAGEMENT SYSTEM MARKET, BY DEPLOYMENT TYPE	178
TABLE 209	LEARNING MANAGEMENT SYSTEM MARKET, BY DEPLOYMENT TYPE, 2017–2021 (USD MILLION)	178
TABLE 210	LEARNING MANAGEMENT SYSTEM MARKET, BY DEPLOYMENT TYPE, 2022–2027 (USD MILLION)	178
12.2.7	LEARNING MANAGEMENT SYSTEM MARKET, BY REGION	178
TABLE 211	LEARNING MANAGEMENT SYSTEM MARKET, BY REGION, 2017–2021 (USD MILLION)	179
TABLE 212	LEARNING MANAGEMENT SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION)	179
12.3	SMART LEARNING MARKET	179
12.3.1	MARKET DEFINITION	179
12.3.2	MARKET OVERVIEW	180
12.3.3	SMART LEARNING MARKET, BY COMPONENT	180
TABLE 213	SMART LEARNING MARKET, BY COMPONENT, 2017–2020 (USD MILLION)	180
TABLE 214	SMART LEARNING MARKET, BY COMPONENT, 2021–2026 (USD MILLION)	181
TABLE 215	SMART LEARNING MARKET, BY HARDWARE, 2017–2020 (USD MILLION)	181
TABLE 216	SMART LEARNING MARKET, BY HARDWARE, 2021–2026 (USD MILLION)	181
TABLE 217	SMART LEARNING MARKET, BY SOFTWARE, 2017–2020 (USD MILLION)	181
TABLE 218	SMART LEARNING MARKET, BY SOFTWARE, 2021–2026 (USD MILLION)	182
12.3.4	SMART LEARNING MARKET, BY SERVICE	182
TABLE 219	SMART LEARNING MARKET, BY SERVICE, 2017–2020 (USD MILLION)	182
TABLE 220	SMART LEARNING MARKET, BY SERVICE, 2021–2026 (USD MILLION)	182
12.3.5	SMART LEARNING MARKET, BY LEARNING TYPE	183
TABLE 221	SMART LEARNING MARKET, BY LEARNING TYPE, 2017–2020 (USD MILLION)	183
TABLE 222	SMART LEARNING MARKET, BY LEARNING TYPE, 2021–2026 (USD MILLION)	183
12.3.6	SMART LEARNING MARKET, BY END USER	183
TABLE 223	SMART LEARNING MARKET, BY END USER, 2017–2020 (USD MILLION)	184
TABLE 224	SMART LEARNING MARKET, BY END USER, 2021–2026 (USD MILLION)	184
12.3.7	SMART LEARNING MARKET, BY REGION	184
TABLE 225	SMART LEARNING MARKET, BY REGION, 2017–2020 (USD MILLION)	184
TABLE 226	SMART LEARNING MARKET, BY REGION, 2021–2026 (USD MILLION)	185
13	APPENDIX	186
13.1	DISCUSSION GUIDE	186
13.2	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	189
13.3	CUSTOMIZATION OPTIONS	191
13.4	RELATED REPORTS	191
13.5	AUTHOR DETAILS	192
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