The gamification market is expected to grow from US$ 12.35 billion in 2021; it is estimated to grow at a compound annual growth rate of (CAGR) 26.1% from 2022 to 2028.
Gamification is the practice of applying game mechanics, features, and ideas to non-game environments, such as a website and online community or learning management system, to increase consumer participation. The major goal of gamification in any industry vertical is to engage, inspire, collaborate, share, and interact with consumers, employees, and partners. Moreover, games and game-like aspects have been utilized to educate, entertain, and engage people for many years. Gamification can be applied across a broad spectrum of situations where individuals must be motivated to pursue specific actions or activities.
Market Dynamics
The increasing adoption of artificial intelligence-based gamification solutions and cloud-based gamification solutions and the increasing demand for gamification solutions from various verticals such as education as well as from small and mid-size businesses are driving the gamification market.
MARKET SCOPE
The "Global Gamification Market Forecast to 2028" is a specialized and in-depth study of the market with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. It provides key statistics on the performance of the leading gamification market players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global gamification market is segmented on the basis of solution, deployment, application, and vertical. Based on solution, the market is bifurcated into enterprise-driven and consumer-driven. Based on deployment, the market is bifurcated into cloud and on-premises. Based on application, the market is segmented into sales, marketing, product development, support, human resources, and others. Based on vertical, the market is segmented into entertainment, healthcare, BFSI, e-commerce, education, and others.
REGIONAL FRAMEWORK
The global gamification market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the region.
In 2021, North America dominated the gamification market with a ~35% share of the market. The North America market growth is majorly attributed to the presence of a large number of market players who have been increasingly focusing on the development of innovative gamification solutions. A few of the key players operating in the market in the region are Badgeville, Inc.; Bigdoor, Inc.; Bunchball inc.; Faya Corporation; Gamification Co.; Gamifier, Inc.; Gamify; Microsoft Corporation; Salesforce.com Inc.; and SAP SE. These players have been witnessing constant demand for gamification solutions from SMEs and large enterprises.
The below figure showcases the revenue growth trend in the global gamification market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, that are impacting the gamification market. It also provides exhaustive PEST analysis, highlighting the factors affecting the gamification market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 outbreak dramatically impacted the global economy during its peak in 2020 in its initial days. The crisis has hampered business activities in IT and other industries across various countries, including the US, India, Brazil, France, Russia, Turkey, the UK, Argentina, and Colombia. The outbreak disrupted the functioning of various industry verticals, leading to severe volatility and instability in the business environment. The pandemic has accelerated digital adoption and digital service delivery across the globe. In such scenarios, gamification solutions have been used as a strategy in COVID-19-related initiatives to encourage healthy behaviors and health outcomes. Moreover, during the pandemic, governments of various countries have enforced the shutdown of all educational institutions and have forced educators and institutions to adopt online teaching strategies. Further, the implementation of gamified teaching strategies was seen as a promising option to provide knowledge and enhance students’ collaboration during lockdowns. Hence, the COVID-19 outbreak moderately influenced the gamification market growth.
MARKET PLAYERS
The reports cover key developments in the organic and inorganic growth strategies in the gamification market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategies and activities witnessed in the market include acquisitions, partnerships, and collaborations. These activities have encouraged the expansion of business and the customer base of market players. Players operating in the gamification market are anticipated to experience lucrative opportunities in the coming years owing to the rising demand for gamification solutions.
The report also includes the profiles of key companies operating in the gamification market, along with their SWOT analysis and market strategies. It focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
The list of a few companies engaged in the gamification market is listed below:
- Badgeville, Inc.
- Bigdoor, Inc.
- Bunchball inc.
- Faya Corporation
- Gamification Co.
- Gamifier, Inc.
- Gamify
- Microsoft Corporation
- Salesforce.com, Inc.
- SAP SE.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.