Published Date : 13 Feb 2023
The global gamification market size was evaluated at USD 13.44 billion in 2022 and it is projected to touch around USD 96.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 27.99% from 2022 to 2030.
Gamification may also be defined as a series of actions and procedures that use game element properties to address problems. Badges, points, and leaderboards are all traditional game elements. The expansion of the gamification industry is aided by enticing offers to consumers and clients, as well as recognising and rewarding staff based on performance. Furthermore, the greater ROI of gamification has a beneficial influence on the growth of the gamification sector.
Gamification is the use of "game mechanics" and "game thinking" in non-game environments to engage people in problem-solving. Physical activity, consumer interaction, punctuality, and learning were all investigated and used in this manner. The growing popularity of smart electronic gadgets has provided enormous prospects in the gamification business. These chances are further aided by the growing acceptance of gamification systems, which use exploiting a situation as a game to boost productivity and competition.
Furthermore, variables such as customer and employee engagement, customer experience enrichment, customer service, and product sales are producing strong development prospects, giving the gamification industry a boost. The use of artificial intelligence (AI) for processing and displaying customised results, as well as the rising digitalization of enterprises to provide new income channels, are driving gamification market revenue growth.
Gamification Market Report Scope
|Market Size in 2023||USD 17.2 Billion|
|Market Size in 2030||USD 96.8 Billion|
|Growth Rate||CAGR of 27.99%|
|Solution Segment Revenue Share In 2021||58.00%|
|Service Segment Revenue Share In 2021||42.00%|
|Largest Market||North America|
|Forecast Period||2022 To 2030|
|Segments Covered||By Component, By Deployment Model, By Enterprise Size, By Application and By Industry Vertical|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
SME adoption of cloud-based gamification solutions will drive market growth. Cloud computing is becoming more popular among small and medium-sized businesses (SMEs). This adoption is due to the fact that cloud-based solutions are less expensive and provide more advanced services than on-premises solutions. The cloud-based solutions are tailored to the needs of the SMEs while keeping the budget in mind. As a result, there is widespread adoption of cloud-based solutions among SMEs. In addition, the increased number of SMEs, especially start-ups, in the industry will boost market expansion.
A small business in the United States, for example, employs gamification on their webpage. The firm provides iPad cases in a variety of colours and patterns for iPad owners. Instead of providing product catalogues, the firm provides consumers with real-time product design. Customers may use gamified software to create their own phone cases.
This provides the consumer with a completely interactive workshop as they create their cases. This also provides the firm with information on the customer's experience and brand image in the industry. As a result, the software aids in enhancing user involvement while also raising brand exposure. The programme assists small and medium-sized firms in developing their market brand image.
Unwanted outcomes as a result of bad design are likely to impede software adoption. Designing in gamification is a critical step in ensuring that the desired goal is achieved. However, it has been noted that designers fail to create distinctive and innovative designs that satisfy the demands of each firm. This might hinder the market uptake of remedies.
Even though a solution is designed for a certain business, the same solution will not produce the intended outcomes for different audiences, making it a difficult development process. Thus, an effectively designed design with adequate execution is required to obtain the desired result; otherwise, the result will be jeopardised and market growth will be slowed.
One of the primary supporting gamification industry trends that is helping to market expansion is the increase in mergers and acquisitions. Market vendors are acquiring other businesses in order to improve their geographical reach, diversify their product range, and acquire market share. For example, Learning Technologies Group plc (LTG) bought GP Strategies Corp., a developer of gamification solutions, in October 2021.
The acquisition's goal is to concentrate on generating demonstrable outcomes in gamification technologies. The purchase, according to the business, would aid in the growth of LTG's international reach. These acquisitions will lead to the formation of superior gamification solutions, which will boost the gamification market's growth throughout the projection period.
One of the challenges impeding the growth of the gamification business is a lack of awareness and consistency. The likelihood of implementation failure is significant due to a lack of understanding and consistency between the demand and the offered training programmes. Companies that use corporate training programmes established and implemented by external parties achieve inconsistency.
Corporate training programmes are used by businesses to teach personnel in a certain talent or to enable them to become adept in a specific skill set. However, the deployment of gamification solutions cost the organisation a significant amount of money, resulting in a financial loss. As a result, a lack of understanding of gamification and its application among end-users is impeding the growth of the gamification industry.
Major Key Players
Segments Covered in the Report
By Deployment Model
By Enterprise Size
By Industry Vertical
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