logo
logo
Sign in

Gamification Market Gaining Significant Traction

avatar
samruddhicmi123
Gamification Market Gaining Significant Traction

The Global Gamification Market is estimated to be valued at US$ 7.6 Bn in 2023 and is expected to exhibit a CAGR of 24.9% over the forecast period 2020 to 2027, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Gamification incorporates gaming techniques such as problem solving, rewards and recognition into business operations to enhance customer engagement and drive business outcomes. Gamification introduces elements of fun and play to motivate users and solve customer problems more effectively. Gamification enhances user loyalty, retention and overall customer experience.

Market key trends:

One of the key trends spurring growth of the gamification market is the integration of augmented reality and virtual reality elements in gamified applications. AR and VR technologies are being leveraged to create more immersive and engaging experiences for users. Gamified applications with AR/VR features are finding increased adoption across industries like education, healthcare, marketing and employee training. For instance, VR simulations are being used in medical trainings to provide realistic practice environments. AR features in marketing campaigns help boost customer engagement levels.

Segment Analysis

The global gamification market is segmented based on component, deployment mode, enterprise size, end-user, and geography. Based on component, the gamification market is segmented into solution and services. The solution segment is expected to dominate the market during the forecast period. This is mainly because of the increasing demand for gamification solution to engage customers, improve user experience, and drive business growth.

Key Takeaways

The Global Gamification Market size is expected to witness high growth, exhibiting a CAGR of 24.9% over the forecast period from 2020 to 2027, due to increasing demand for gaming elements in non-gaming applications to drive customer engagement and productivity.

The North America region is expected to dominate the gamification market during the forecast period. This is attributed to the early adoption of gamification solutions across various sectors and strong presence of key players in the region.

Key players operating in the gamification market are Cisco Systems, Inc., Microsoft, SAP, Facebook, Inc., BI WORLDWIDE, Verint, Risk Management Solutions, Inc., hoopla, Mambo Solutions Ltd., Centrical, LevelEleven, MPS Interactive Systems Limited, Influitive, Launchfire Interactive Inc., 2020 Gamifier, Inc., Actionable, Xoxoday,NIIT, Cognizant, Tango Card. Inc., and Khoros, LLC. Major players are focusing on new product launches and partnerships with other players to strengthen their position in the market. For instance, in June 2020, LevelEleven partnered with SAP to integrate LevelEleven's gamification platform with SAP's solutions to drive customer engagement and performance.


Read More - https://www.marketwebjournal.com/gamification-as-a-market-driver-demand/

collect
0
avatar
samruddhicmi123
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more