Gmi Research's blog : Gamification Market Size, Share, Industry Report & Forecast 2029

Gmi Research's blog

Gamification Market was valued at USD 10.8 billion in 2021 and is projected to reach USD 64.8 billion in 2029, growing at a significant CAGR of 25.1% during 2022-2029

The factors driving the growth of Gamification Market includes rise in the number of e-learning platforms around the world, growing focus by companies on enhancing employee’s engagement, increasing penetration of smartphone, tablets and laptops and improvements in the living standards. Moreover, growing advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) and Internet of Things (IoT) by organizations, rise in the launch of innovative products, rewards and recognition programs promoted by companies and rapid urbanization, are some of the additional factors supplementing the Gamification Market size. In addition, the increasing investments by major players on research and development, strategic mergers and alliances formed between key companies, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Gamification Market is hindered due to insufficient knowledge about gamification solutions.

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The major players operating in the market are MPS Interactive Systems, Mambo.IO, Ambition, Verint, Hoopla, Microsoft, SAP, LevelEleven, Axonify Inc., IActionable, AON, Bi Worldwide, Centrical, Influitive, and Gamifier among others.

Based on Component, the Services segment is predicted to grow at a significant CAGR during the forecast period

Vendors are providing diversified services such as support and consulting services, which are easy to install and requires low maintenance, are propelling growth of the segment.

Based on Vertical, the Telecom segment is protected to expand at a robust CAGR over the forecast period

Rise in the number of subscribers with consistent experiences across all channels and incorporation of gamification services in the business models, are pushing segment’s growth.

Based on Region, the North American region is anticipated to capture the largest market share during the forecast period

As per the Gamification Market Research, presence of the leading players such as Bi Worldwide, Microsoft and AON, increased adoption of advanced technologies by major companies, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

  • In 2019, Microsoft integrated additional applications and features for Dynamic 365 by adding AI-driven insights. Through this improvement in the product, the organizations will be permitted to improve the customer’s experience
  • In 2019, SAP completed the acquisition of Qualtrics, which is an experience management software provider. Through this acquisition, the company has delivered incomparable employee, brand & customer experiences and has accelerated the new experience management category.

Market Segmentation

Segmentation by Component

  • Services
  • Solution

Segmentation by Deployment

  • On-Premises
  • Cloud

Segmentation by Organization Size

  • Small & Medium Enterprises
  • Large Enterprises

Segmentation by Vertical

  • Healthcare
  • Retail
  • Hospitality
  • BFSI
  • Manufacturing
  • Education
  • Media & Entertainment
  • IT & ITES
  • Telecom
  • Others

Segmentation by End-User

  • Consumer-Driven
  • Enterprise-Driven

Segmentation by Application

  • Sales
  • Marketing
  • Product Development
  • Support
  • Human Resources
  • Other Applications

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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  • Technology
On: 2022-12-20 07:42:15.725

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