Yahoo Finance The Global Gamification Market size is expected to reach $58.8 billion by 2028, rising at a market growth of 26.8% CAGR during the forecast period
Gamification is a method for improving systems, services, businesses, and events to create experiences similar to those found in video games to motivate and involve users. It is usually accomplished by employing game design features and ideas such as mechanics and dynamics in non-game situations.
New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Gamification Market Size, Share & Industry Trends Analysis Report By Component, By Application, By End-User, By Deployment Type, By Organization Size, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289248/?utm_source=GNW
Gamification can also be characterized as a sequence of actions and processes that utilize game element characteristics to solve problems. Badges, points, and leaderboards are all classic game components. Gamification market growth is supported by providing attractive offers to customers and clients, as well as recognizing and rewarding employees based on performance. Furthermore, gamification’s higher ROI has a positive impact on the gamification market’s growth.
Gamification is defined as the use of ’game mechanics’ and ’game thinking’ in non-game contexts to engage users in problem-solving. Physical activity, customer involvement, timeliness, and learning have all been studied and utilized in this way.
As an example of corporate gamification, Freshdesk is a helpdesk software platform that increases customer experience. Customer service agent productivity and performance were key factors in the company’s success. Freshdesk used gamification tactics to increase employee engagement and passion. The company turned mundane daily tasks into exciting expeditions to achieve. Agents in contact centers were awarded badges for achieving performance criteria within these quests. Participants who completed several levels or activities using a point system received medals or trophies. Employees who responded quickly to consumers received a "Fast Resolution Badge."
Furthermore, managers could track performance by using a Leaderboard. This improved top performers’ visibility across the entire team. As a result, the players became more engaged as a result of the healthy competition. Agents were also able to socialize and learn from one another by setting up challenges in a multi-player/multi-team environment. As a result, there was a favorable shift in employee attitudes, and employees became more involved in their work. Managers noticed an increase in the efficiency and effectiveness of their customer service teams. Freshdesk witnessed a rise in employee productivity as a result of gamification, which eventually led to increased customer happiness.
COVID-19 Impact
The gamification sector has seen tremendous expansion in recent years. However, the market has seen a sudden surge in demand as a result of the COVID-19 pandemic. The outbreak has increased popularity of mobile gaming apps and software significantly. Furthermore, the pandemic has provided ideal conditions for gamification, particularly in terms of driving participation during the lockdown. Furthermore, several large corporations have already embraced gamification technologies and are increasing their gamification investments for a variety of applications ranging from advertising to employment. Furthermore, according to a survey published in 2020, gamification has been used by more than 70% of organizations in the global top 2000 list.
Market Growth Factors
Employees are valued and praised for outstanding achievements
Employee engagement is enhanced through rewarding and acknowledging their accomplishments, which leads to increased retention and a more positive overall environment. Furthermore, adding rewards and recognition programs helps promote employee engagement, which has numerous benefits for businesses, including increased productivity and staff retention. Employees chose individualized attention as the most effective technique for a boss or firm to motivate them to perform excellent work, as per a survey conducted in 2021.
Adoption of AI-based Gamification Solutions
The increased use of gamification solutions based on the AI platform is one of the primary drivers of market growth. To gain deep insights into their staff, many enterprises are implementing AI-based solutions and cutting-edge technologies. AI-based gamification models give precise answers by removing ambiguity in employee motivations and assisting employees in achieving targets more efficiently. For example, since Cisco Systems gamified its social media training course, over 650 people have been accredited with over 13000 lessons. The market’s major players are concentrating their efforts on developing an AI-based solution.
Market Restraining Factors
Unwanted consequences of poor design of the software
In gamification, design is a critical component in ensuring that the intended outcome is accomplished. Designers have been noted to fail to create distinctive and sophisticated designs that match the needs of each firm. This could inhibit market adoption. Even if a solution is designed for a certain business, it would not produce the desired results for other audiences, making development a difficult task. As a result, a well-designed design coupled with adequate implementation is required to accomplish the desired result. The strength of internet access is fully dependent on cloud gaming platforms. Cloud gamification are powered by an internet connection that works as a single pillar, holding all of the game’s weight.
Component Outlook
Based on Component, the market is segmented into Solution and Services. The solution segment acquired the largest revenue share in the gamification market in 2021. Due to its Space management, maintenance management, asset management, relocation management, and real-estate portfolio management are just a few of the functions available. It lowers the rate of complications and costs related to space management. Furthermore, it increases asset longevity and lowers energy-related costs. This has a favorable impact on the gamification industry.
Application Outlook
Based on Application, the market is segmented into Sales & Marketing, Product Development, Human Resource, Support, and Others. The product development segment registered a substantial revenue share in the gamification market in 2021. Gamification is defined as a purposeful effort to aid systems and services in creating experiences comparable to those recorded while playing games. This is done to better motivate and encourage the users of the product or service. When designers and developers insert game-like characteristics in non-game products and services, gamification is commonly addressed.
End-User Outlook
Based on End-User, the market is segmented into Retail, Education, Manufacturing, Banking, Media & Entertainment, IT & Telecom, and Others. The retail segment garnered the highest revenue share in the gamification market in 2021. It is because retail business is trying to find a solution to the retention and participation challenges. In retail, the consumer experience has become increasingly important. Gamification seems to be the go-to strategy for increasing sales, brand exposure, and consumer loyalty. In terms of customers, gamification-powered technology may create a happy community, boosting engagement and communication while also giving retailers information on customer sentiment and opinions. Gamification can improve overall productivity and thus improve the in-store experience by encouraging employee cooperation.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. The cloud segment registered a significant revenue share in the gamification market in 2021. It is due to the SMEs increasingly looking for secure and trustworthy solutions. With technological improvements, firms are more inclined to employ cloud-based gamification solutions. Various significant enterprises in areas such as retail, e-commerce, BFSI, education, and others are implementing cloud-based infrastructure to provide consumers with collaborative experiences. Cloud-based solutions assist users with features such as simple installation, maintenance, software upgrades, and more. During the projection period, key features such as cheap implementation costs are likely to enhance demand for cloud-based solutions.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The large enterprise segment dominated the highest revenue share in the gamification market in 2021. It is due to the large businesses are early adopters of technology and solutions, so the segment is growing. The companies like Oracle Corporation, Hewlett-Packard Company, IBM Corporation, and Google LLC are heavily investing in developing advanced solutions. A large corporation’s workforce is massive, so they are using cloud-based gamified systems to manage and monitor their employees. Therefore, big corporations are implementing gamification solutions in order to manage and monitor their employees.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America segment registered the largest revenue share in the gamification market in 2021. To maintain its position over the projection period as games empower rehabilitation users to understand themselves, which is not the case for the majority of patients, allowing professionals to better plan therapy and achieve better treatment outcomes. This rise would aid in the adoption of promotion and consumer interaction services solutions. Various significant participants in the business, including retail, BFSI, and others, are focusing on developing gamification projects in the United States. NBC Universal Media, eBay Inc., Walgreens Co., LLC, Adobe Inc., and others are among the primary players involved in the projects.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, SAP SE, Cognizant Technology Solutions Corporation, MPS Interactive Systems Limited (MPS Ltd.), Ambition Solutions, Inc., Aon plc, Axonify, Inc., G-Cube (MRCC), IActionable, and BI WORLDWIDE.
Strategies Deployed in Gamification Market
Jan-2022: Microsoft took over Activision Blizzard, an American video game holding company. Through this acquisition, the company aimed to boost the growth of Microsoft’s gaming industry around PC, mobile, console, and cloud and would deliver building components for the metaverse.
Dec-2021: SAP formed a partnership with Attensi, the global leader in 3D gamified simulation training. Together, the companies aimed to allow Development and learning through combination with SAP SuccessFactors Solutions. Additionally, Attensi would provide a novel learning experience utilizing, among other access, gaming automation and competitive component.
Nov-2021: Ambition partnered with Gong, the leading provider of revenue intelligence. Through this partnerhip, Ambition would utilize the powers of Gong, with Ambition’s powerful insights-to-action coaching platform.
Sep-2021: Axonify came into a partnership with Grand River Hospital, a 665-bed hospital serving Waterloo Region. Through this partnership, the companies aimed to launch the Coordinated Accessible National Health Network development project. Moreover, the project would execute an advanced learning platform for empowerment arrangement and assure on process training bolster for leading staff.
Aug-2021: Axonify joined hands with The Kroger Family of Companies, America’s largest grocery distributor. Together, the companies aimed to launch Fresh Start, a new customized training scheme to support greater accomplice reservation and engagement.
Apr-2021: Microsoft Teams came into a partnership with Trivie, a science-based learning platform. Through this partnership, the companies aimed to provide a new level of convenience and gamification to distant work ecosystems, making meetings more associated and highly attractive.
Aug-2020: Microsoft Teams formed a partnership with SelfDrvn, an interactive Service-as-a-Solution platform. Through this partnership, the companies aimed to combine Microsoft Teams into its worker engagement platform, as part of the organization’s enduring innovation to make distant work more rewarding, appealing, and productive with technology. Additionally, with Microsoft Teams combined into the platform, the consumer would be capable to utilize SelfDrvn as the main center for workers.
Jan-2020: Axonify entered into a partnership with The Retail Doctor, the leading specialist on brick-and-mortar retailers. Through this partnership, the companies would bring retail-based training content to Axonify consumers.
Jul-2018: MPS Limited completed the acquisition of Tata Interactive Systems AG and GmbH, developer of the custom e-learning platform. This acquisition aimed to maximize teamwork in the marketing and engineering platforms. Additionally, MPS Limited gained astounding growth conceivable as products can easily be delivered in the US, where MPS already has a powerful existence.
Scope of the Study
Market Segments covered in the Report:
By Component
• Solution
• Services
By Application
• Sales & Marketing
• Product Development
• Human Resource
• Support
• Others
By End-User
• Retail
• Education
• Manufacturing
• Banking
• Media & Entertainment
• IT & Telecom
• Others
By Deployment Type
• On-premise
• Cloud
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Microsoft Corporation
• SAP SE
• Cognizant Technology Solutions Corporation
• MPS Interactive Systems Limited (MPS Ltd.)
• Ambition Solutions, Inc.
• Aon plc
• Axonify, Inc.
• G-Cube (MRCC)
• IActionable
• BI WORLDWIDE
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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