Global gamification market was valued at $ 6.8 billion in 2018 and is projected to grow at an impressive CAGR of 32% to reach $ 40 billion by 2024
NEW YORK, April 2, 2019 /PRNewswire/ -- Global Gamification Market By Solution (Enterprise Driven & Consumer Driven), By Deployment (On-premise & Cloud), By Organization Size (SME & Large Enterprise), By Application (Human Resource, Marketing, Sales & Others), By End-User Vertical (Retail, Banking & Others), By Region, Competition, Forecast & Opportunities, 2024
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Global gamification market was valued at $ 6.8 billion in 2018 and is projected to grow at an impressive CAGR of 32% to reach $ 40 billion by 2024 on account of growing demand for customer experience enrichment and improved engagement of employees. In business context, gamification refers to the integration of game mechanics into an internal business process, website, or marketing campaign so as to encourage the participation of target audience. Increasing number of smartphones and mobile devices is positively influencing the growth of the market. Moreover, social media platforms are further contributing to the growth of gamification market as they allow users to share their experiences with friends and co-workers, thereby elevating the effectiveness of the platform.
Global gamification market can be categorized based on the solution, deployment, organization size, application, end-user vertical and regional analysis.In terms of solution, the market for gamification can be bifurcated into enterprise driven and consumer driven.
The demand for consumer driven solution is increasing as companies catering to various field are introducing various gamification techniques such as discounts and loyalty point in order to retain consumers, due to which the segment is expected to witness fastest growth during forecast period. Based on the deployment, cloud segment is expected to grow at the fastest pace as it allows small and medium enterprises to implement gamification without incurring extra cost.
The market for gamification is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. North America and Europe are the leaders in global gamification market owing to early adoption by economies such as US and UK to enrich their marketing activities with better customer interaction and advertising.
Major players operating in global gamification market include Microsoft Corporation, SAP SE, Salesforce.com, Inc. Leveleleven LLC and Bunchball Inc., among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. For instance, Microsoft launched Microsoft Dynamics 365 that enables employees to participate in individual and team-based competitions that motivate them to achieve certain pre-defined KPIs (Key Performance Indicators) by offering prizes, awards, privileges, and recognition. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To analyze and forecast the market size of global gamification market.
• To classify and forecast global gamification market based on solution, deployment, organization size, end-user, application and regional distribution.
• To identify drivers and challenges for global gamification market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global gamification market.
• To identify and analyze the profile of leading players operating in global gamification market.
Some of the leading players in the global gamification market are Microsoft Corporation, SAP SE, Salesforce.com, Inc. Leveleleven LLC and Bunchball Inc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated the market size of global gamification market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Gamification solution providers
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to gamification
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global gamification market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Solution:
o Enterprise Driven
o Consumer Driven
• Market, By Deployment:
o Cloud
o On-premise
• Market, By Organization Size:
o SME
o Large Enterprise
• Market, By Application:
o Human Resources
o Marketing
o Sales
o Product Development
o Support
o Others
• Market, By End-User Vertical:
o Retail
o Healthcare
o Government
o Banking
o IT and Telecom
o Education
o Others
• Market, By Region:
o North America
- United States
- Mexico
- Canada
o Europe
- United Kingdom
- Germany
- Netherlands
- Spain
- France
- Rest of Europe
o Asia-Pacific
- India
- China
- Malaysia
- Japan
- Australia
- Rest of Asia-Pacific
o South America
- Brazil
- Argentina
- Colombia
- Rest of South America
o Middle East & Africa
- Egypt
- South Africa
- Saudi Arabia
- Nigeria
- Rest of Middle East & Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global gamification market.
Available Customizations:
With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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