The global gamification market is predicted to grow at 11.1% CAGR during the forecast period with the market size reaching USD 282.3 billion by 2024. The market is driven by the factors such as extensive acceptance of technologies such as mobile, web and social media along with swelling utilization of internet-based services. The increasing capability of this technique to satisfy the needs and desires of an individual pertaining to their virtual achievement and position are further fueling the growth of the market.
The market for gamification devices is primarily driven by the extensive acceptance of technologies such as mobile, web and social media along with swelling utilization of internet-based services is driving the growth of gamification market. Moreover, the presence of gamificationsystemsuch as consumer-based gamification systems and cloud-based gamification helps small and medium business enterprises to expansively accept techniques of gamification without paying any additional amount. The swelling dissemination of devices with displayis another factor driving the growth of the gamification market. Additionally, it has been observed that the population in the Asia-Pacific has high demand for digital entertainment and increasing demand for tablets; laptops and mobile phones are the key contributor supporting this demand.
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On the basis of solution, the gamification market is segmented into consumer-driven solution and enterprise-driven solution. Among these two segments, the consumer-driven solutions contribute larger revenue to the global market and is predicted to witness a CAGR of 25.7% during the forecast period. This segment is contributing largest revenue since consumer driven solutions are considered to be user-friendly and flexible and are extensively being utilized for amplifying loyalty and motivation of customers towards various products across several different industries.
On the basis of deployment type, gamification market is segmented into cloud and on-premise based deployment type. The extensive utilization of internet-based services along with rapid technological advancements is enhancing the growth of cloud-based deployment. The cloud-based solutions are expected to witness faster growth of 35.1% CAGR during the forecast period.
On the basis of user type, gamification market is segmented into small and medium enterprises and large enterprises. Among these two segments, a small and medium enterprise is expected to witness faster growth of 35.4% during the forecast period. Gamification techniques are enabling small and medium enterprises to reevaluate the method that leads to producing results with the help of processes, people and technology.
On the basis of application, the gamification market is segmented into sales, marketing, product development, support, human resources and others. Among all these applications, marketing has been contributing largest revenue to the global market. The segment is further expected to witness a CAGR of 28.4% during the forecast period. The growth of this segment is attributed towards increasing marketing events with the use of levels, virtual goods, credits, leaderboards and points.
On the basis of industry, the global gamification market is segmented into media and entertainment, e-commerce, retail and consumer goods, banking, financial services, and insurance, travel and logistics, entertainment, education, healthcare and others. Among all these segments, education sector is predicted to witness the fastest market growth during the forecast period.
North America accounted for the major share of more than 45% in the Gamification industry in 2017, globally due to the extensive adoption of enterprise-based and customer-based solution in this region. In order to aggravate the marketing activities of their organizations, countries such as the U.S. and Canada are rapidly adopting gamification technique with the use effective branding, advertising and customer interaction. These factors are thereby accentuating the demand for gamification market in this region. Moreover, Asia-Pacific is expected to witness the fastest growth in the gamification market due to increasing penetration of internet in this region along with extensive demand for mobile devices. The growth of this market in the region is expected to at a CAGR of more than 40% during the forecast period.
Bunchball Inc., Badgeville Inc., Kuato Studios, SAP SE, Cisco Systems Inc., Gigya Inc., Microsoft Corporation, Knewton, BigDoor Inc., and Lithium Technologies Inc. are some of the key players offering solutions and services for gamification.
Global Gamification Market Coverage
Solution Insight and Forecast 2014-2024
Deployment Type Insight and Forecast 2014-2024
User Type Size Type Insight and Forecast 2014-2024
Application Type Insight and Forecast 2014-2024
Industry Insight and Forecast 2014-2024
Gamification Market by Region
Middle East & Africa (MEA)