26.1% CAGR for Gamification Market to Gain $62.75Bn, Revenue by 2028 - Comprehensive Study by The Insight Partners

The Insight Partners

The gamification market growth is fuelled by increasing demand for gamification solutions from various verticals such as education as well as from small and mid-size businesses and increasing adoption of artificial intelligence-based gamification solutions and cloud-based gamification solutions.

New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study “Gamification Market Size, Value, Growth, Research Forecasts to 2028 - COVID-19 Impact and Global Analysis 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”, the gamification market size is projected to reach USD 62.75 billion by 2028 from USD 12.35 Billion in 2021; it is estimated to grow at a CAGR of 26.1% from 2022 to 2028.

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Global Gamification Market – Report Scope:

Market Size Value in	USD 12.35 billion in 2021
Market Size Value by	USD 62.75 billion by 2028
Growth rate	CAGR of 26.1% from 2022 to 2028
Forecast Period	2022-2028
Base Year	2021
No. of Pages	150
Historical data available	Yes
Segments covered	Solution, Deployment Type, Application, Vertical, and Geography
Regional scope	North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope	US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Global Gamification Market: Competitive Landscape and Key Developments

Badgeville, Inc.; Bigdoor, Inc.; Bunchball Inc.; Faya Corporation; Gamification Co.; Gamifier, Inc.; Gamify; Microsoft Corporation; Salesforce.com 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.

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.

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.

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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.

Impact of COVID-19 Pandemic on Gamification Market

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.

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Global Gamification Market – Segmentation Insights:

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.

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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

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