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Gamification Market by Type (Structural, Content), Offering, Organization Size, Deployment Mode, Application (HRM, CRM, Customer Engagement), End-use Industry (BFSI, Retail & E-commerce, Education & Research), and Geography - Global Forecast to 2030
Report ID: MRICT - 104314 Pages: 267 Jun-2023 Formats*: PDF Category: Information and Communications Technology Delivery: 2 to 4 Hours Download Free Sample ReportThe growth of the gamification market is attributed to the benefits of gamification in training professionals and enhancing user experience and the growing use of gamification in sales & marketing to improve customer engagement and retention. However, low awareness regarding the advantages of gamification among schools and SMEs (small & medium-sized enterprises) restrains the growth of the gamification market.
The increasing potential of gamification as a strategic management tool is expected to offer growth opportunities for the players operating in this market. However, user disengagement and confusion due to gamification platforms' poor designs and monotonous elements pose major challenges to the market’s growth. Growth in digital learning, the rising adoption of AR/VR technologies, and the integration of artificial intelligence (AI) into gamification solutions are technology trends in the market.
Gamification platforms are increasingly being adopted for marketing as numerous organizations recognize their effectiveness in boosting sales of products or services through customer engagement and incentivization. Gamification marketing is an innovative technique that incorporates game elements to captivate and retain customers. By integrating elements of competition and reward, gamified marketing motivates consumers to take specific actions.
Businesses across diverse industries widely utilize a gamification marketing strategy to convey their message creatively to existing and potential customers. For instance, Nissan Motor Co., Ltd. (Japan) released the Leaf electric car with a video game tracker on its 7-inch LCD screen. This initiative created a competitive environment among drivers, with the ultimate reward being the Platinum Leaf Cup awarded to the winner. Drivers could earn medals ranging from bronze to gold, depending on their performance. This gamified approach engages customers and motivates them to return, enhancing customer loyalty.
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Based on type, the global gamification market is segmented into structural gamification and content gamification. The structural gamification segment is expected to register the higher CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of structural gamification in end-use industries to engage and motivate users and the growing use of structural gamification over content gamification due to its easy implementation and potential benefits for learners.
Based on offering, the global gamification market is segmented into solutions and services. The solutions segment is expected to register the higher CAGR during the forecast period. The growth of this segment is driven by the increasing adoption of gamification solutions by organizations to attract more customers and clients. Additionally, the demand for these solutions is increasing as they enhance employee engagement by providing recognition and rewards based on their performance.
Based on organization size, the global gamification market is segmented into small & medium-sized enterprises and large enterprises. The small & medium-sized enterprises segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of gamification to increase employee engagement and the rising use of artificial intelligence & machine learning in mobile gaming and E-commerce.
Based on deployment mode, the global gamification market is segmented into on-premise deployments and cloud-based deployments. The cloud-based deployments segment is expected to register the higher CAGR during the forecast period. The growth of this segment is driven by the increasing adoption of cloud-based solutions among small & medium-sized enterprises, the rising adoption of advanced technologies, and the low implementation costs of cloud-based gamification solutions.
Based on application, the global gamification market is segmented into human resource management, customer relationship management, sales & marketing, customer engagement, learning & development, and other applications. The sales & marketing segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of gamification by organizations for marketing strategies and the use of gamification to increase brand awareness and sales of products.
Based on end-use industry, the global gamification market is segmented into retail & E-commerce, media & entertainment, education & research, IT & telecom, lifestyle & fitness, hospitality, marketing & advertising, BFSI, healthcare, manufacturing, government, and other end-use industries. The retail & E-commerce segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of gamification solutions by retail & e-commerce to enhance customer engagement, increase product sales, and improve brand loyalty.
Based on geography, the global gamification market is segmented into North America, Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the high penetration of smartphones, widespread internet availability, and increasing government initiatives promoting gamification platforms to improve employee productivity and increase revenue.
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the gamification market in the last 3–4 years. The key players profiled in the Gamification market report are Microsoft Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), MPS Interactive Systems Limited (India), Aon Plc (U.K.), SAP SE (Germany), Verint Systems Inc. (U.S.), Ambition Solutions, Inc. (U.S.), Axonify Inc. (Canada), IActionable, Inc. (U.S.), Schoeneckers, Inc. (U.S.), G-Cube Webwide Software Pvt Ltd (U.S.), Raydiant, Inc. (U.S.), Biz-Effective Ltd. (U.S.), Mambo Solutions Ltd. (U.K.), Ascent Cloud LLC (U.S.), and Letrium Ltd. (Ukraine).
Key Questions Answered in the Report:
The global gamification market is projected to reach $96.3 billion by 2030, at a CAGR of 27.4% during the forecast period.
The growth of this market is attributed to the benefits of gamification in training professionals and enhancing user experience and the growing use of gamification in sales & marketing to improve customer engagement and retention.
The key players operating in the gamification market are Microsoft Corporation (U.S.), Aon plc (U.K.), SAP SE (Germany), Verint Systems Inc. (U.S.), IActionable, Inc. (U.S.), Raydiant, Inc. (U.S.), Biz-Effective Ltd. (U.S.), Mambo Solutions Ltd. (U.K.), and Ascent Cloud LLC (U.S.).
The risk of disengagement and confusion due to poor design and monotony is a major challenge for the players operating in this market.
Which end-use industry segment is projected to register the highest CAGR during the forecast period?
The retail & E-commerce segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of gamification solutions in the retail & e-commerce industry to enhance customer engagement, increase product sales, and improve brand loyalty.
The increasing potential of gamification as a strategic management tool is expected to offer growth opportunities for the players operating in this market.
The key growth strategies adopted by major market players include partnerships, collaborations, and agreements. These strategies are aimed at strengthening their product portfolios and enhancing their geographic reach in the gamification market.
Published Date: Jun-2024
Published Date: Jul-2024
Published Date: Jul-2024
Published Date: Jan-2024
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