USD 11.59 billion
Report ID: SQSG50W2002 | Region: Global | Published Date: October, 2022 | Pages: 157
Global Gamification Market was valued at USD 11.59 billion in 2021, and it is expected to reach a value of USD 63.48 billion by 2028, at a CAGR of 27.5% over the forecast period (2022-2028).
Gamification is the process of bringing game mechanics, components, and ideas to non-game environments in an effort to increase user engagement. Gamification may be applied in a variety of settings. Gamification is frequently used by businesses to improve organizational efficiency, employee training, hiring, and assessment. Other applications include voter participation, physical exercise, and consumer loyalty programmes. Gamification's goal is to encourage people to interact with the information. Particularly with unpleasant duties like a thorough safety training programme or compliance training. Additionally, gamification also promotes social interaction, entertainment, and team development within the community. The application helps businesses to design engaging, task-based activities that motivate staff to accomplish their goals. Other applications for game-based systems include recruitment and training. Additionally, these solutions give the customer more information about the product and its brand, enhancing customer connections. After using the gamification application, Service Corporation International, for instance, saw an 88 percent increase in closed deals.
Users may now share their experiences with friends, acquaintances, and coworkers thanks to the platform's connection with social networking sites, broadening its appeal and efficiency. Another benefit is that marketers may conduct surveys using mobile applications, even ones with only one question, gathering information directly from the people of their target demographic and adjusting their strategies as a result. Additionally, the use of cutting-edge technologies like AI and ML is anticipated to grow over the next few years as businesses and vendors work to create solutions that learn and improve usability and efficacy over time. Vendor investment in technology is anticipated to rise over the next few years.
Global Market Size
USD 11.59 billion
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Global Gamification Market is segmented based on the component, deployment, organization size, application, end user, vertical, solution, and region. Based on component, Global Gamification Market is segmented into solutions and services. Based on deployment, the market is bifurcated into cloud and on-premise. According to organization size, the market is bifurcated into SME and large enterprises. According to application, it is segmented into marketing, sales, product development, human resource and others. On the basis of end user, it is bifurcated into enterprise-driven and consumer-driven. On the basis of vertical, the market is segmented into education, healthcare, retail, manufacturing, telecom, IT and hospitality. According to type of solution, the market is segmented into open platform and closed/enterprise platform. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Component
The solution segment held largest market share and revenue share of global gamification market in 2021. Gamification has made steady progress in recent years and is now acknowledged as a workable corporate training technique for many different types of training. Gamification is popular among students because it blends serious learning with "fun." Gamification solutions are widely used in the business sector due to their many benefits, including the fact that learners are fully engaged in a variety of tasks and challenges, making learning more memorable.
Services segment is expected to register a high growth rate during the forecast period. Gamification service providers offer a range of services that are broken down into the following categories: consultancy, installation, support, and maintenance. These services provide clients services for the creation of gamification solutions as well as for the simple installation, rollout, and upkeep of continuing solutions. Some service providers help clients design bespoke solutions for their businesses. These service providers handle the deployment of solutions, such as specialised solutions, that are made to meet the company’s procedures.
Analysis by Vertical
Retail segment dominated the market in terms of both market share and revenue in 2021. The retail sector uses gamification extensively, from lotteries and quizzes to gaming apps made to promote brands and boost sales. The company develops a game that promotes its goods, but it successfully blends gaming with marketing. With a multiplayer advertisement game, company marketing extends dramatically as users look for competitive partners, convincing friends and family to download the game and eventually buy the goods, which is propelling the segment's revenue development.
Telecom segment is anticipated to witness the fastest growth during the forecast period. The fierce competition that telecom firms face from other service providers has made the adoption of a customer-centric strategy imperative. The primary objective of businesses is to increase the number of subscribers who have consistent experiences across all channels, which can only be accomplished through customer-focused solutions. Companies must include gamification in their business strategies since customers are now well-informed and inclined to use several services. Although these businesses only have a limited amount of control over the offers and content, customers will nonetheless hold them responsible for their availability and quality. Companies may use the gamification solution to determine consumer satisfaction by engaging customers with fresh offers and incentives.
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North America dominated the global gamification market in 2021. Gamification in marketing has a developed market in North America. Systems, however, are also being used in a variety of ways throughout the region to innovate and develop new products. The region's strong internet and smartphone adoption rates have also increased the use of gamification for marketing, particularly when employing social media integration tools. Numerous businesses have launched significant gamification projects since the gamification industry's inception. These include, among others, consumer companies like Adobe, NBC, Walgreens, eBay, Panera, and Threadless. Gamification has been a crucial component of B2B firm such Oracle, Cisco, and Salesforce consumerization of the enterprise strategies in the region.
Asia Pacific gamification market is expected to grow the fastest during the forecast period. Any gamified strategy will benefit from a greater user base of smart mobile device owners. Asia is becoming a more convenient region to access smartphones and smart tablets. This is primarily because aggressive manufacturers in Asia are already ahead of the curve in finding ways to reduce the cost of their goods and so increase consumer access, which is anticipated to fuel market revenue growth.
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Global Gamification Market is moderately competitive and fairly fragmented due to the presence of several players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive gamification market. Major players include Microsoft, Verint Systems Inc., Aon plc, Hoopla, Centrical, Mambo Solutions Ltd. and Influitive among others. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
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According to our Global Gamification Market analysis, large enterprises are implementing cutting-edge technology and AI-based solutions to gain a comprehensive understanding of their workforce. Gamification models powered by artificial intelligence (AI) offer precise solutions by removing the uncertainty around employees' motivations and assisting them in more effectively achieving goals. Additionally, Cloud-based solutions are becoming more widely used by small and medium-sized businesses (SMEs). Because cloud-based solutions are more cost-effective and provide more sophisticated services than on-premises solutions, they are becoming more and more popular. These cloud-based solutions are tailored to the demands of SMEs while taking into account the allocated budget. Because of this, SMEs are adopting cloud-based solutions on a broad scale.
|Market size value in 2021||USD 11.59 billion|
|Market size value in 2028||USD 63.48 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Gamification Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Gamification Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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