Gamification refers to the method to motivate participation, loyalty, and engagement with the technique of game-design elements and game principles in a non-game context.
The first five-year cumulative revenue (2017–2021) is projected to be around US$ 15 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. According to report, the gamification market is projected to reach a value of around US$ 20.9 Bn in 2026 at a CAGR of 36.2% over the forecast period.
Increasing customer engagement activities through various marketing campaigns with the help of social media which offer rewards and incentives such as coupons or special offers and discounts. In addition, penetration of connected devices is growing. With the increase in Bring Your Own Device(BYOD) trend more than 70% companies allow BYOD usage and around 80% employees use at least one device for business use. Amongst the global population of over 7 billion, there are over 6.5 billion mobile subscribers world-wide. According to, The World Bank, there is 6.6 billion mobile phone users in 2013 and their penetration is growing at over 30% year on year. People are buying items through their mobile phones, using them in the store to validate coupons, or social networking, or using GPS-enabled apps. Increase in use of display devices such as smart phones and tablets results in increase both user acquisition and retention rates. It also enables word of mouth, increase in social sharing, increase loyalty and provides seamless user experience. The effective elements in apps are rewards, virtual goods, badges, leaderboards, and progress display. Globally, the online gamer community counts over 800 million people around the world.
However, concept of one-size-fits-all solutions is a key factor that may hamper market growth. The focus in most projects is narrow and applied to one project only without a strategy for sustainable engagement. vendors and customers neglect to establish a long term strategy for gamification. In enterprise implementations, gamification needs to work across several enterprise apps, and can’t be relegated to just one use case scenario (inside sales reps for instance). The availability of single app solution is not suitable for every department and across industries. In addition, every organization have different goals, structures and requirements.
Moreover, augmented and virtual reality to support gamification design can be a potential opportunity for the market players. Augmented and virtual platforms can be a lucrative opportunity for various gamification market vendors in order to integrate the use of such platforms in order to engage users and enhance the user experience. In addition, market players are focused on strategic partnerships in order to enhance its presence and expand its product portfolio.
Market Segmentation of Global Gamification Market:
Segmentation by solution type:
• Human Resource
• Learning and Development
• Product Development.
Segmentation by deployment type:
• On Premises
• Cloud- based
Segmentation by customer type:
• Consumer Driven
• Enterprise Driven
Segmentation by end use vertical:
• Banking, Financial Services & Insurance (BFSI)
• Consumer Goods & Retail
• Media & Entertainment
• Healthcare & Lifesciences
Segmentation by region:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Get a Sample Copy Of Gamification Market Research Report Here: https://marketresearch.biz/report/gamification-market/request-sample/
The market in North America is expected to dominate the global gamification market in terms of revenue owing to high adoption of customer-based solutions and enterprise-based solutions are driving the gamification market in North America. The market in Europe is expected to grow at the highest CAGR, high penetration of mobile gaming.
Europe market is expected to witness highest CAGR growth of over 35% in the global gamification market during the forecast period, owing to primarily due to the high adoption of gamification solution in countries such as Germany, U.K. and Italy. In addition, the adoption rate of gamification is significantly high in Europe, owing to factors such as high penetration of mobile gaming.
Prominent players in the global gamification market include Microsoft Corporation, Salesforce.com Inc., Badgeville, Inc., Bunchball Inc., Arcaris Inc., SAP SE, Big Door Inc., Gigya Inc., Faya Corporation, and LevelEleven LLC.