Gamification Market is expected to reach US$ 62.75 billion in 2028

PRESS RELEASE BY The Insight Partners 22 Nov 2022

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The gamification market size expected to reach US$ 62.75 billion by 2028; registering at a CAGR of 26.1% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

Artificial Intelligence Based Gamification Solutions Catalyzes Gamification Market

Gamification Market

Gamification Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

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Gamification Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Solution (Enterprise-Driven and Consumer-Driven), Deployment Type (On-Premise and Cloud), Application (Sales, Marketing, Product Development, Human Resource, and Others), Vertical (Entertainment, Healthcare, BFSI, E-Commerce, Education, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Source: The Insight Partners Analysis

AI based gamification solutions provide accurate solutions and help organizations to achieve maximum return on investment. In recent years, many industry verticals have been increasingly adopting gamification solutions across various business units such as HR; marketing; sales; and employee training, recruitment, evaluation, and organizational productivity. Gamification helps organizations to achieve direct and indirect business objectives such as sales, marketing and others by linking the games to the business goal. Hence, many players have introduced various gamification solutions to streamline and enhance their client’s business processes to meet their needs. For instance,

  • In November 2021, Henesys Studio, a software design and development studio, announced its plan to launch gamification solutions for businesses operating in the education, healthcare, design, training, gallery, publishing, and other industries.
  • In August 2021, Crazy Maple Studio announced its plan to launch the gamification platform- ‘Chapters Writing Room.’ It is a user-friendly interface that enables game creators to write, produce, and eventually sell their narrative game creations.

Based on solution, the gamification market is bifurcated into enterprise-driven and consumer-driven. The consumer-driven segment is anticipated to dominate the market. Consumer-based gamification approach mainly focuses on the general consumers. Various benefits such as cashback, rewards, loyalty points, and interactive shopping experiences are offered to engage consumers and enhance their communication with the organization. Further, the enterprise-based gamification approach is widely used for employee training, sales enhancement, product development, and support.

Based on deployment, the gamification market is bifurcated into cloud and on-premise. The cloud segment is expected to dominate the market owing to factors such as extensive utilization of Internet-based services, rapid technological advancements, and implementation of cloud by small and medium enterprises across the world. Further, the increasing demand for configurable gamification platforms is encouraging various end users to use the cloud computing technology for gamification. All these mentioned factors are contributing to the gamification market growth.

Based on application, the gamification market is segmented into sales, marketing, product development, support, human resources, and others. The marketing segment is expected to register the largest share in the market due to increasing marketing events using levels, virtual goods, credits, leaderboards, and points, thus propelling the market growth.

Based on vertical, the gamification market is segmented into entertainment, healthcare, BFSI, e-commerce, education, and others. The adoption of gamification solutions is increasing in the education and IT & telecom industries and is expected to dominate the market

North America holds one of the largest shares in the gamification market. The growing trend of adopting adavnced technology among various industry verticals and businesses in the region have fueled the growth of the market. Moreover, countries such as the US and Canada are rapidly adopting gamification techniques with the use of effective branding, advertising, and customer interaction to enhnace the marketing activities of their organizations. Moreover, Asia Pacific is one of the fastest-growing regions in the gamification market due to the presence of a few of the rapidly developing economies, such as Japan, China, and India.

Badgeville, Inc.; Bigdoor, Inc.; Bunchball Inc.; Faya Corporation; Gamification Co.; Gamifier, Inc.; Gamify; Microsoft Corporation; Inc.; and SAP SE are a few of the key market players profiled during the market study. Several other major players were studied and analyzed during this research study to get a holistic view of the gamification market and its ecosystem.

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