According to the global gamification market research report by IMARC Group, the market reached a value of US$ 15.3 Billion in 2022, and it is projected to reach a value of US$ 53.2 Billion by 2028, exhibiting a CAGR of 21.9% during 2023-2028.
Gamification refers to a strategy of applying gaming principles to a non-gaming environment to increase user engagement and loyalty. The software enables organizations to provide task-based interactive events that encourage employees to achieve target goals, further aid in creating healthy community interactions, team building environments, and eliminate worker motive ambiguity. The game design elements on digital platforms also reward the users by integrating points, leadership boards, badges, and loyalty programs, which motivates them to work harder. As a result, the software finds extensive applications across various industry verticals, such as healthcare, retail, banking, financial services and insurance (BFSI), and e-learning.
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Industry Trends Drivers
The widespread adoption of artificial intelligence (AI)-based game design solutions by large organizations and small and medium enterprises (SMEs), on account of the rising number of smartphone and smart gadgets users and the growing popularity of bring your own device (BYOD) trend, is among the key elements stimulating the gamification market. Moreover, the increasing utilization of rewards and recognition programs to boost employee engagement is acting as another significant growth-inducing factor.
Besides this, continuous technological innovations, including the inflating adoption of cloud-based technologies, crowdsourcing, and the rising integration with social networking platforms, are positively influencing the global market. Furthermore, the development of mobile-based software as a service (SaaS) platform that enables organizations to gather firsthand data and the shifting preferences toward cloud-based business solutions from on-premises are also propelling the market growth. Apart from this, the higher return of investment (ROI) yield of gamification, inflating digitization, the increasing deployments of 5G networks, and the introduction of Industry 4.0 are anticipated to fuel the gamification market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Ambition, Aon PLC, Axonify Inc., BI WORLDWIDE, Cognizant, Iactionable, Microsoft Corporation, MPS Limited, NIIT Limited, SAP SE and Verint Systems Inc.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Solution
- Service
Breakup by Deployment Mode:
- On-premises
- On-Cloud
Breakup by Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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