May 28, 2020
As per the report titled ‘Global Gamification Market Size study, by Component (Solution and Services), Deployment (Cloud and On-Premises), by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), by Vertical (Education, Healthcare, Banking, Financial Services, and Insurance, Retail, Manufacturing, Media And Entertainment, Telecom, IT and ITES, Hospitality and OTHERS), by End-User (Enterprise-Driven and Consumer-Driven), by Application (Marketing, Sales, Support, Product Development, Human Resources and Other Applications) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global gamification market was worth USD 7.1 billion in 2019 and is projected to record a CAGR of 27.4% through 2026.
Gamification is the process of turning a potentially tedious work into a game. The goal of the process is to make a game that taps into people’s natural instincts for competition and achievements. Teachers, managers, as well as others employ this method to increase participation and improve productivity.
In apps and websites, gamification is used to motivate people to meet personal challenges and behavioral changes such as improving general awareness, achieving weight-loss goals, and learning foreign languages. This feature allows for tracking the progress, making these task more fun by making them resemble games.
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According to Statista, the total number of smartphone users globally was 2.5 billion in 2016 and is estimated to increase to 3.8 billion in 2021. Increasing smartphone penetration, along with various benefits and lucrative nature of gamification offers increased employee engagement through rewards and recognition, higher Return on Investment (ROI), and enticing offers to customers & consumers are driving the growth of global gamification market. Furthermore, growing use of AI for processing and displaying personalized results, and rising digitalization of businesses will present new growth opportunities in the coming years.
Considering the geographical landscape, the market is divided into Asia Pacific, North America, Europe, Latin America, and Rest of the World, wherein North America holds a significant fraction of the overall market share. Extensive usage of internet for connecting with various channel partners and clients among enterprises, along with high adoption of enterprise-based solutions and customer-based solutions will continue to stimulate the growth of North America gamification industry over the forecast timeline.
Key players in global gamification market are SAP SE, Microsoft Corp., BI Worldwide (Bunchball)¸ AON (CUT-E GMBH), Verint Systems, Hoopla, Mambo.IO, Centrical, MPS Interactive Systems, LevelEleven, and Influitive Corporation.