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Global Gamification Market to Reach US$ 43.92 Billion by 2027, Bolstered by Significant Growth in Retail Industry

Published on Oct 17, 2022

According to the latest report by IMARC Group, titled “Gamification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global gamification market reached a size of US$ 12.25 Billion in 2021. Gamification refers to a strategy of applying gaming principles to a non-gaming environment to increase user engagement and loyalty. It provides the audience with proactive directives and feedback through game mechanics, such as points, badges, and leaderboards for accomplishing objectives and goals. Gamification is widely used in transmedia, brandification, physical health, group workouts, e-learning platforms, websites, and online portfolios. It assists in workplace training, improving sales staff performance, enhancing the ability to complete mundane tasks, increasing organizational productivity, and customer retention. Gamification also helps with cognitive development, improves accessibility, enhances service levels, and boosts satisfaction.  

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.

Gamification Market Trends:

The significant growth in the retail industry across the globe is creating a positive outlook for the market. Gamification is widely used as an engagement strategy in retail marketing to entertain users, improve brand awareness, enhance the experience, augment online shopping, and aid in customer retention. In addition, the rising popularity of gamification due to the rapid proliferation of smartphones, laptops, tablets, and other internet-enabled devices that allow users to share their experiences with friends, acquaintances, and coworkers on social networking platforms is acting as another growth-inducing factor. Furthermore, the rising demand for gamification in e-learning to create a fun and interactive environment, increase learner engagement, improve knowledge absorption, spark friendly competitions, offer an opportunity to see real-world applications, and facilitate mistake-driven learning is providing a thrust to the market growth. Apart from this, the widespread utilization of gamification in large enterprises and small businesses to improve outcomes by increasing the success rate of onboarding programs, enhancing work speed, and boosting morale are positively influencing the market growth. Moreover, the rising adoption of artificial intelligence (AI) in developing augmented and virtual reality (AR/VR)-based gamification platforms, such as immersive training systems (ITS) and operator training simulators (OTS), that transform industrial training into learning by doing processes is propelling the market growth. Other factors, including the rising deployment of fifth-generation (5G) networks, widespread adoption of cloud-based business solutions, and significant growth in the healthcare industry, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 43.92 Billion by 2027, exhibiting a CAGR of 22.50% during 2022-2027.

Market Summary:

  • On the basis of the component, the market has been divided into solution and service.
  • Based on the deployment mode, the market has been bifurcated into on-premises and on-cloud.
  • On the basis of the enterprise size, the market has been categorized into small and medium-sized, and large enterprises.
  • Based on the industry vertical, the market has been classified into BFSI, retail, education, IT and telecom, manufacturing, media and entertainment, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.?
  • The competitive landscape of the industry has also been examined, with some of the key players being Ambition, Aon PLC, Axonify Inc., BI WORLDWIDE, Cognizant, Iactionable, Microsoft Corporation, MPS Limited, NIIT Limited, SAP SE and Verint Systems Inc.
     

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