The gamification market was valued at US$7.697 billion in 2019
The primary factor that is driving the adoption of gamification platforms is the growing focus of the organizations towards the engagement, development, and innovation of the employee's behavioural architecture. The gamification market is also projected to grow on account of the rising proliferation of smartphones and numerous mobile devices which is also one of the key factors that is creating a considerably large base for the gamification market. Currently, the shift of organizations from PCs to mobile devices such as laptops and tablets also provides an impetus for the market to grow in the next five years.
Furthermore, the rapid growth in the penetration of the internet also plays an important role in driving the gamification market growth owing to the increased accessibility of these platforms across mobile devices and also instigate the adoption of cloud-based solutions. The growing penetration of smartphones has led to a deep penetration of the internet among the general population. As the number of smartphone users are increasing, this has led to a significant surge in the shipments of smartphones in the coming years especially in the developing economies of the world.
The medium enterprises to show a notable growth
On the basis of enterprise size, the large enterprises are anticipated to hold a noteworthy share in the market owing to the high adoption of these platforms owing to the presence of a considerably large employee base along with the higher purchasing power. All these factors are significantly contributing to the high share of this segment during the coming years.
The medium enterprises are projected to show a robust growth throughout the forecast period owing to the growing focus of the companies under this segment throughout the industry verticals towards the engagement and interaction of the employees. Also, the increasing budgets towards the adoption of these solutions further positively impact the gamification market for medium enterprises.
On-premise deployment to hold a noteworthy share
On the basis of deployment, the on-premise gamification solutions segment is projected to hold a considerably larger share owing to the high adoption of on-premise solutions by the organizations across the various industry verticals. Furthermore, the market for cloud-based solutions is anticipated to show robust growth over the course of the next five years, owing to the growing adoption of cloud-based solutions across the industries due to numerous benefits.
The retail segment is anticipated to show good growth
On the basis of industry vertical, the retail segment is projected to show a notable growth during the next five years on account of growing requirements regarding the engagement of the consumers coupled with the continuous growth of the retail sector. The continuous e of engagement of consumers is considered of utmost importance by the retailers so as to develop and implement new marketing strategies. Also, the expansion of distribution channels and the growing sales through e-commerce platforms is further widening up the opportunities for the market to grow in the near future.
The IT and Telecom industry is projected to hold a noteworthy share during the forecast period owing to the wide adoption of these solutions due to intense competition in the industry which is inclining the companies towards the adoption of a customer-centric approach. Thus, gamification is considered as an important tool for the companies to keep an idea regarding the satisfaction of their customers and also keep them engaged with new offers and rewards.
North America to hold a significant share
Regionally, the North American region is projected to hold a noteworthy share in the market throughout the forecast period owing to the presence of state-of-art infrastructure, high internet penetration, and a high number of smartphone users. All these factors supplement the share of this region in the coming years. The early adoption of technology is also considered to be one of the prime factors bolstering the growth of the market in North America. Furthermore, the presence of key market players in the region is also positively impacting the market growth in the North American region during the next five years.
In September 2019, Microsoft Corporation announced the enhancement of its existing gamification platform Dynamics 365 by integrating AI-driven insights with an aim to enhance the organizations the power to improve the customer experiences.
April 2018, SAP SE announced the acquisition of Callidus Software Inc., a globally known company for its enterprise software. The company will provide its cloud-based CRM solution to SAP.
Prominent key players in the gamification market include Microsoft Corporation, SAP, and Cognizant among others. These companies hold a noteworthy share in the market on account of their good brand image and product Enterprise Sizes.
Major players in the gamification market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.