Dallas - March 16, 2022 /MarketersMEDIA/ —
Gamification Market Witnesses Adoption Uptick with Massive Investments in Branding and Customer Loyalty Initiatives
The global gamification market size is projected to reach over USD 34 billion with a CAGR of ~31% by 2025. Gamification market is expected to receive zealous boost from expansive advances in smart electronic devices that continue to fortify growth opportunities. A new business intelligence research report by Adroit Market Research delves deeper to unfurl new developments and evaluate their implications on holistic growth trajectory.
One of the growing uses of gamification is in marketing activities as it is used extensively as a tool to improve sales and boost profit. Gamification in marketing practices aid in procuring customer data, improve customer engagement and thus improve company branding activities and promotional investments. In recent times, when businesses are investing massively towards improved promotional activities to reflect happy customers and superlative customer engagement, gamification as a successful marketing tool is likely to witness massive adoption for improved brand engagement and customer loyalty.
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With the emergence of the internet of things (IoT) and changing digitization landscape, the enterprises are experiencing numerous advantages as well as few issues. The gamification solutions have brought various advantages to the various industries, which have enhanced their overall productivity by increasing motivation and employee engagement.
Moreover, gamification is gaining traction recently due to the growing adoption of mobile devices. However, the market is approaching its maturity as the majority of the sectors have already tried gamification elements and seeing its potential benefits. In addition, the majority of industries are still unaware of the gamification advantages, which hampers the market growth. Furthermore, advancements in technologies and digitization are anticipated to fuel the significant market growth in upcoming years.
Gamification techniques are becoming highly pervasive and ubiquitous across training and development programs across enterprises, as enterprises target highly interactive response rates from employees. Learning and development is a crucial element in enterprises which is perceived to improve sales and branding initiatives. Hence, companies are increasingly banking upon gamified learning modules to support deep understanding and interactive sessions amongst employees.
Verimatrix and OliveX Holdings entered into a mutual collaborative agreement, whereby Verimatrix would supply cybersecurity solutions to fuel advances in the Latter's smart fitness platform. The fitness platform, Kara Smart Fitness is extremely next-gen with AI and gamification attributes to ensure higher adoption. For maximum productivity and improve adoption of lengthy work-out schedules, gamification is seen as an appropriate tool. OliveX is a digital platform rendering highly agile fitness services to millennial populace, for an intriguing gamified premium content for improved engagement. This development is a significant leap pushing further adoption and subsequent growth in global gamification space.
The Asia-Pacific region is expected to experience the fastest growth with ~36% CAGR over the forecast period. In addition, the North America segment dominated the global gamification market and it is expected to remain dominant throughout the forecast period. The market growth in this region is mainly attributed to the existence of key market players in countries such as the U.S. and Canada. In addition, major penetration of mobile phones is also fostering the adoption of gamification solutions for the marketing industry in this region. Thus, such factors driving the adoption of gamification solutions and services in this region.
The major players of the global Gamification market are Arcaris, Badgeville, Bigdoor Media, Bunchball, Faya Corporation, Gigya, LevelEleven, Microsoft, Salesforce, and SAP SE. Moreover, the other potential players in the Gamification market are Ambition, BI Worldwide (BIW), Foursquare, Cognizant Technology Solution Corp., Callidus Software Inc., and others. As of 2019, the market for Gamification is consolidated with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with new strategies and innovative Gamification solutions. For instance, in 2018 BI WORLDWIDE (BIW) acquired Bunchball, a gamification solutions provider. By acquiring Bunchball, BI Worldwide (BIW) enhanced its flexibility to the market with Bunchball’s patented gamification technology.
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Segment Overview of Global Gamification Market
Solution Overview, 2018-2025 (USD Billion)
Enterprise Gamification
Consumer Gamification
Function Overview, 2018-2025 (USD Billion)
Marketing
Sales
Product Development
Human Resources
Others
Industry Vertical, 2018-2025 (USD Billion)
Retail and E-Commerce
Media and Entertainment
Healthcare
BFSI
Education
IT & Telecommunication
Others
Regional Overview, 2018-2025 (USD Billion)
North America
U.S.
Canada
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
MEA
South America
Brazil
Rest of South America
About Us:
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
Email: Send Email
Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/gamification-market
Release ID: 89070655
