Global gamification market is estimated to witness high growth, owing to increasing adoption of mobile device and growing e-learning trend
Global Gamification Market is estimated to be valued at US$ 10.18 Bn in 2024, exhibiting a CAGR of 25.2% over the forecast period 2024-2031. Growing adoption of mobile devices and integration of gaming elements in e-learning solutions can drive the market growth during forecast period. Furthermore, introduction of augmented and virtual reality technologies can offer growth opportunities for the market players in the near future.
Market Dynamics:
Rising adoption of mobile devices:
Growing popularity of smartphones and tablets coupled with increasing number of consumers playing games on these devices can drive the global gamification market growth. The highly personalized and interactive nature of mobile gaming makes it an attractive option for various industry verticals to integrate gamification strategies for enhancing customer engagement.
Growing e-learning trend:
The integration of game mechanics, game design techniques and game thinking into the learning environment is known as gamification of education or Edu gaming. It aims to tackle issues such as drop-off rates and classroom management. With proliferation of e-learning, most companies are incorporating gamification concepts such as levels, progress points and competitions/challenges in their e-learning programs to make learning more engaging and memorable for employees.
Growing Adoption of Mobile and Web-based Applications
Growing adoption of mobile devices and increasing internet penetration can drive the gamification market growth. Gamification helps engage users and drive desired behaviors through games and reward mechanisms built into mobile and web-based applications. Gamification design elements like points, badges, leaderboards, and others motivate continued engagement with apps and services. As more businesses look to utilize these engagement driving features, there will be huge demand for gamification solutions tailored for mobile and web. Gamification vendors are focusing on developing frameworks and tools that make it easy to integrate gamified experiences across different digital touchpoints. This boosts the integration of gamification into various industry domains like education, healthcare, marketing, and others.
Increased Investment in Developing Immersive Experiences is Propelling Market Expansion
With advancements in technologies like augmented reality, virtual reality and artificial intelligence, gamification is evolving beyond the basic reward and recognition models. Developers are investing in creating highly immersive and engaging gamified experiences that mimic real-world scenarios. Gamification solutions which incorporate immersive elements like interactive simulations and digital environments are witnessing huge adoption. Industries like defense, aviation and education uses immersive gamification to provide effective training. Healthcare and corporate wellness programs leverages immersive gamification to motivate behavioral change.
Lack of Awareness and Understanding
While gamification holds immense potential, lack of awareness about its benefits can hamper its broader adoption across industries and verticals. Many businesses still do not recognize gamification as a strategic tool and consider it just as an engagement activity. There is a lack of understanding on how to develop effective gamification solutions aligned with business objectives.. Overcoming such perceptions by creating awareness through active promotion and case studies could help address this restraint.
Complexity of Design and Development
Designing meaningful and engaging gamified experiences tailored to the target audience and aligned with business goals is complex. It requires creativity as well as domain and user understanding. Integrating gamification seamlessly also poses technical challenges. Many businesses hesitate to invest in gamification due to the perceived complexity involving multidisciplinary expertise. Moreover, with a plethora of point solutions and frameworks in the market, selecting the right approach becomes difficult. This complexity associated with gamification design and implementation discourages some businesses, thus, hampering the market growth.
Opportunities in Education Sector
The education industry is increasingly recognizing the ability of gamification to improve student motivation, engagement and learning outcomes. K-12 as well as higher education institutions are introducing gamified elements into their digital learning solutions. Adaptive gamified courses which provide personalized learning experiences based on student behavior are also gaining traction. With ongoing digital transformation of the education system, integrating gamification offers a vast untapped market. Growing investments are directed towards innovative education gamification tools.
Rising Focus on Corporate Learning
Gamification helps to tackle the issues of low engagement and retention in e-learning. Leading companies have started infusing elements of competition, collaboration, feedback and progression into their corporate training programs to boost participation. Gamification vendors are customizing their solutions to meet this rising demand. With gamification recognized as a way to make corporate learning more engaging and impactful, it promises rewarding prospects in the coming years.
While lack of awareness and complexity remain a major challenge, the global gamification market is propelled by advent of mobile and immersive technologies. Promising opportunities lie across industries like education and corporate training that acknowledge gamification's ability to drive engagement and outcomes. Wider adoption across verticals can be expected as businesses increasingly resort to gameful design to tackle participation and motivation issues.
Link - https://www.coherentmarketinsights.com/market-insight/gamification-market-4292
Key Developments:
- In September 2022, Bragg Gaming Group broadened the reach of its engaging and dynamic tool—Fuze—previously successful in the online casino sphere, to incorporate sports betting platforms. This enhancement aims to refine the customer experience for operators by utilizing Fuze's capabilities to stimulate event-centric betting activities through meticulously crafted, time-sensitive, gamified offers. These promotions are designed to be interactive, allowing bettors to monitor their ongoing achievements actively.
- In August 2022, Low6, recognized for its expertise in sports gamification solutions globally, teamed up with SCCG Management, a notable entity in the gaming industry advisory and investment space. The alliance aims to leverage SCCG Management's network to connect Low6 with sports betting operators across North America, thereby enabling these operators to tap into Low6's technological offerings for customer acquisition purposes.
- In March 2022, NSoft, known for offering solutions that prioritize the consumer experience, enhanced its range of gamification tools and methods for engaging users by forging an exclusive alliance with Ziqni. Through this collaboration, NSoft gained entry to Ziqni's comprehensive and intuitive gamification platform, equipping it to deliver an advanced and adaptable gamification system to its partners in the iGaming and casino sectors.
- In December 2021, SAP announced the formation of a strategic alliance with Attensi, the frontrunner in 3D gamified simulation training worldwide, aiming to transform learning and development. By integrating Attensi’s innovative technology with SAP SuccessFactors offerings, the partnership facilitates the provision of an engaging learning journey that incorporates elements of game mechanics and competition, thereby greatly improving the user's learning experience.
- In November 2021, the renowned sales coaching platform Ambition teamed up with Gong, a key player in revenue intelligence, to merge their respective features and elevate Ambition's coaching offerings. This synergistic partnership harnessed the analytical prowess of Gong to furnish concrete coaching and performance enhancement instruments for sales units. This allows supervisors to refine interactions with customers and catalyze expansion in business operations.
Key Players:
Ambition, Aon plc, Arcaris, Axonify Inc., BI WORLDWIDE, Bunchball Inc., Callidus Software Inc. (SAP SE), Cognizant Technology Solution Corp, Cut-e GmbH, G-Cube, Iactionable Inc, LevelEleven, Microsoft Corporation, MPS Interactive Systems Limited, Salesforce
