This market research report presents a detailed segmentation of the global digital badges market in the education sector by end users (higher education and K-12) and by geography (APAC, Europe, North America, and ROW). The key vendors in the market are Credly, Open Badge Factory, Pearson, and Youtopia.
Technavio’s market research analysts estimate the global digital badges market in the education sector to surpass $420 billion between 2016 and 2020. The incorporation of gamification features in the education sector to increase student motivation and engagement is the fundamental driver for the market. Education games, especially for the K-12 segment, are being designed with various levels of complexities. At present, North America dominates the global digital badges in the education market by accounting for more than 50% of the overall market share. The market is thriving in this region due to the increased investment in educational technologies by educational institutions to improve learning outcomes. The promotion of the use of e-textbooks, graphics, and other interactive digital content to enhance learning experience by the US government is expected to propel the market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the digital badges in the education market segments by end-user.
“The increasing interest shown by leading education players is one of the ongoing trends in the market. This is stimulated by the increasing popularity of digital badges as tools to verify skills and achievements. For example, Pearson, a key vendor in the education market, launched an Open Badges platform called Acclaim. Besides, the spending on educational technology by educational institutions is also witnessing substantial growth,” Jhansi Mary, Lead Analyst, Education, Technavio Research.
The higher education segment dominated the global digital badges in the education market in 2015 by holding a market share of over 64%. The increasing number of students pursuing opportunities to enhance their portfolios by enrolling in online courses and participating in extracurricular activities to improve their skill sets is the primary driver for the growth of this segment. The drop in the perceived value of degrees and formal education is expected to boost the global digital badges in the higher education market by 2020.
The key vendors in the global digital badges in the education market include Credly, Open Badge Factory, Pearson, and Youtopia. The market has become fragmented due to the entry of a large number of vendors. Though the market is in its nascent stage, it will witness huge growth in the coming years owing to the presence of various growth opportunities. Several vendors are investing in collaborative learning and social learning to introduce attractive features in their issuing platforms. Vendors are also offering services like easy customization at affordable prices to cater to the unique needs of their target customers.
A more detailed analysis is available in the Technavio report, Global Digital Badges Market in the Education Sector 2016-2020.
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