Rewards & recognition to employees over performance to boost the employee engagement and providing lucrative offers to customers & consumers drive the growth of the global gamification market. North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share.
Portland, OR , May 24, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global gamification market generated $9.9 billion in 2020, and is projected to reach $95.5 billion by 2030, witnessing a CAGR of 25.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rewards & recognition to employees over performance to boost the employee engagement and providing lucrative offers to customers & consumers drive the growth of the global gamification market. However, complexities in developing gamification application and short lifecycle of gamification restrain the market to some extent. On the other hand, the adoption of AI for processing and presentation of personalized results present new opportunities in the upcoming years.
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The outbreak of the COVID-19 pandemic led to have a positive impact on the global gamification market, owing to rise in demand for mobile gaming apps and software.
Many large enterprises have adopted gamification solutions, and are increasing investments in gamification for wide range of applications from marketing to recruitment.
The trend is likely to be continued post-pandemic as well.
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The report offers detailed segmentation of the global gamification market based on component, deployment type, application, enterprise size, industry vertical, and region.
Based on industry vertical, the retail segment held the highest market share in 2020, holding more than one-fifth of the total market share. However, the IT and telecom segment is estimated to register the highest CAGR of 28.8% from 2021 to 2030.
Based on the component, the solution segment held the largest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is projected to register the highest CAGR of 27.1% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 27.6% during the forecast period.
Leading players of the global gamification industry analyzed in the research include Ambition, Axonify, Inc., Bunchball, Inc., Callidus Software, Inc., Cognizant Technology Solution Corp., Cut-e GmbH, G-Cube, Iactionable, Inc., Microsoft Corporation, and MPS Interactive Systems Limited.
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