Gamification Market Research Report, 2020-2024 - COVID-19 Analysis Impact in Q1 2021| Technavio

The increasing adoption of gamification in e-learning will also be a significant factor contributing to the growth of the market. Multinational corporations are increasingly adopting e-learning platforms to enhance employee engagement and learning experience and minimize learning and development costs. The use of goals/levels and rewards concept in gamification helps in improving engagement, information retention, motivation, and productivity of learners by evoking game-like reactions. These factors have resulted in an increase in the adoption of gamification solutions in e-learning. The integration of gamification in e-learning will also help in promoting team-building and in providing a better learning environment. 

As the markets recover, Technavio expects the gamification market size to grow by USD 17.56 billion during the period 2020-2024.

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Gamification Market Segment Highlights for 2020

• The gamification market is expected to post a year-over-year growth rate of 14.75%.
• The rising adoption of value-based care, increasing digital healthcare applications, and the growing adoption of health insurance will boost the demand for gamification from the healthcare sector. 
• Market growth in this segment will be faster than the growth of the market in the entertainment, retail, education, and others' segment.

Regional Analysis

• Factors such as high internet and smartphone penetration, the presence of a well-developed communication network, and increasing penetration of the organized retail sector will significantly drive gamification market growth in this region over the forecast period.
• 45% of the market's growth will originate from North America during the forecast period.
• The US and Canada are the key markets for gamification in North America. Market growth in this region will be slower than the growth of the market in APAC.

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Notes:

• The gamification market size is expected to accelerate at a CAGR of over 27% during the forecast period.
• The gamification market is segmented by End-user (Healthcare, Entertainment, Retail, Education, and Others), Geography (North America, Europe, APAC, South America, and MEA), Application (Consumer-driven application and Enterprise-driven application), and Market Landscape (User engagement, Brand loyalty, Brand awareness, Training, and Motivation).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Allen Interactions Inc., Ambition, BI WORLDWIDE, Cognizant Technology Solutions Corp., GP Strategies Corp., Hoopla Software Inc., Intertek Group Plc, Microsoft Corp., MPS Interactive Systems Ltd., and SAP SE.

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