Gamification Global Market Report 2024

Gamification is a method that helps to engage users by applying game mechanics, elements, and principles to non-game contexts in a better way. Gamification uses a sequence of functions and methods to solve problems by utilizing or applying game element characteristics. The primary aim of using gamification is to improve and enhance the learning experience by incorporating a competitive element into it.

The main types of gamification market platforms are open platforms and closed or enterprise platforms. An open platform refers to a system that co-evolves with the environment and has a high level of uncertainty. The on-platform system used in the learning or education industry provides players or users with the autonomy to make discoveries on their own. It is used by small and medium enterprises and large enterprises and is deployed in various modes, such as on-premise and in the cloud. The several types of end-user verticals include retail, banking, government, healthcare, education and research, IT, telecom, and others.

The gamification market research report is one of a series of new reports that provides gamification market statistics, including gamification industry global market size, regional shares, competitors with a gamification market share, detailed gamification market segments, market trends, and opportunities, and any further data you may need to thrive in the gamification industry. This gamification market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The gamification market size has grown exponentially in recent years. It will grow from $18.05 billion in 2023 to $22.45 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to increased use of gamification in marketing, growth in the gaming industry, rise of mobile gaming, employee engagement and training needs,
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The gamification market size is expected to see exponential growth in the next few years. It will grow to $56.7 billion in 2028 at a compound annual growth rate (CAGR) of 26.1%. The growth in the forecast period can be attributed to integration of gamification in education, adoption of gamification in health and wellness, expansion of gamification in customer loyalty programs, increased use of gamification in virtual events, emphasis on data-driven gamification strategies. Major trends in the forecast period include advances in technology for gamification, gamification for remote and hybrid work environments, personalization and customization in gamified experiences, integration with augmented reality (AR) and virtual reality (VR), blockchain integration for transparent gamification.

The growing penetration of smartphones is expected to propel the growth of the gamification market going forward. Smartphones refer to a type of cellular telephone that can also perform computing functions. These smartphones enable the user to access gamifying mobile apps anytime, anywhere, allowing them to compete with others and achieve their learning and winning objectives. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, mobile connections in the UK reached 71.8 million, showing a 3.8% increase from the previous year, totaling approximately 2.6 million additional connections. Furthermore, it is projected that the UK's population will expand to 68.3 million by 2025, with an estimated 95% of the population, or around 65 million individuals, owning a smartphone. Therefore, the increase in smartphone penetration is driving the gamification market growth.

The growing trend of interactive learning is expected to propel the growth of the gamification market going forward. Interactive learning is a teaching technique that seeks to get students actively engaged in the learning process, often through the use of technology. Interactive learning methodologies, such as gamification, actively involve learners in the educational process. Gamified elements, such as quizzes, challenges, and simulations, make the learning experience more engaging, encouraging active participation. Further, Gamification incorporates interactive elements that require learners to apply their knowledge and skills in real-time scenarios, leading to better retention of the material. For instance, according to Prosperityforall, a US-based innovative organization that provides free tools and resources to make learning accessible to all students, the number of people who take an online course will rise to as many as 57 million people by 2027. Therefore, the growing trend of interactive learning is driving the growth of the gamification market.

Technological advancements have emerged as a key trend gaining popularity in the gamification market. Major companies operating in the gamification sector are focused on introducing new technologies to sustain their position in the market. For instance, in January 2022, Soffos, a UK-based technology company, launched TestMe, an AI-powered quiz-based training tool for corporate training managers and student exam preparation. It generates quiz-style, open-ended tests that are uploaded onto the platform for users from any resource, where the users can speak or type answers in natural language. This gamification element will help to keep the user engaged in exploring trending topics and sharing their progress with others throughout the study journey.

Major companies operating in gamification market are focused on developing innovative solution such as gamified finance app to gain the competitive advantages in the market. Gamified finance apps use game-like elements and mechanics to enhance the user experience and drive better financial outcomes. For instance, in May 2023, Truist Financial Corporation, a US-based bank holding company launched a gamified finance app through Long Game that rewards clients for building financial wellness. The mobile app serves as a remarkable illustration of how our Truist Foundry group's distinctive startup approach seamlessly integrates cutting-edge technology and a human touch to enhance clients' financial experiences. Upon installation, users are greeted with the 'daily game' as the initial feature when they open the Long Game app. This feature allows customers to accumulate coins for participation in various other games.

In August 2022, Nazara Technologies Limited, an India-based diversified gaming and sports media company acquired WildWorks for an undisclosed amount. With this acquisition, WildWorks will position Nazara Technologies to strengthen leadership in the gamified learning sector for children. WildWorks is a US-based game development company.

Major companies operating in the in the gamification market report are MPS Interactive Systems Limited, Microsoft Corporation, AON PLC, Axonify Inc., IActionable Inc., SAP SE, Indusgeeks Solutions Pvt. Ltd., BI WORLDWIDE, TGC Technologies Pvt. Ltd., Gametize, Gamify, Salesforce. com Inc., FAYA Corporation, Cognizant Technology Solution Corp., Verint, Hoopla, Centrical, Mambo. IO, Influitive, LevelEleven, Ambition, Gamifier, Khoros, Scrimmage, Xoxoday, Tango Card, National Institute of Information Technology, Google LLC, Cisco Systems Inc., Umbel Corporation

North America was the largest region in the gamification market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gamification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the gamification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The gamification market consists of revenues earned by entities by providing structural gamification and content gamification. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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