According to the recent market report by IMARC Group, titled “Game-Based Learning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global game-based learning market size reached around US$ 5.8 Billion in 2020. Game-based learning refers to learning supporting by the utilization of a game. This form of learning can start from any academic level and continue through to lifelong stages. These intrinsic or supplement games can be played online, face-to-face and on devices like smartphones and computers. Game-based learning enables the learners to improve lateral thinking, develop soft skills, retain information, understand core concepts, and simplify complex topics. The games offer a risk-free environment, which creates an opportunity to make mistakes. Due to these features, game-based learning is emerging as a popular model in the education sector.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Game-Based Learning Market Trends:
Increasing digitization, incorporation of innovative methodologies and the widespread adoption of advanced technologies in the education sector are some of the primary factors driving the global game-based learning market. Apart from this, numerous schools and universities are introducing this method in conventional classrooms due to the associated advantages, such as improved rational thinking and hand-eye coordination. Moreover, the rapid introduction of new software and increasing usage of game-based learning in the corporate sector for training and skill development are supporting the growth of the market. Increasing access to high speed internet and improving income levels of consumers are some of the other factors creating a positive outlook for the market. Looking forward, the market value is projected to exceed US$ 19.2 Billion by 2026, expanding at a CAGR of around 21.20% during 2021-2026.
- On the basis of the platform, the market has been bifurcated into online and offline platforms. Among these, online is the most popular platform as it provides innovative solutions to students for exploring lessons.
- Based on the revenue type, the market has been divided into advertising, game purchase, and others. Currently, game purchase holds the majority of the market share.
- On the basis of the end user, K-12 game-based learning accounts for the majority of the market share, followed by higher game-based learning.
- On the geographical front, the market has been categorized into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. At present, Asia Pacific represents the leading market, holding the largest market share.
- The competitive landscape of the market has also been examined with some of the key players being Badgeville (CallidusCloud), Bunchball (BI WORLDWIDE), Classcraft Studios Inc., Six Waves Inc., Recurrence, Inc., Fundamentor (Paratus Knowledge Ventures Pvt Ltd), Gametize Pte. Ltd., GradeCraft (The Regents of the University of Michigan), Kuato Studios, BreakAway Ltd., Inc., Filament Games, LearningWare, Inc., Osmo (Tangible Play, Inc.) and Toolwire, Inc.
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