PUNE, India, June 1, 2020 /PRNewswire/ — The global gamification market size is expected to reach USD 37.00 billion by 2027, exhibiting a CAGR of 24.8% during the forecast period. The rising focus towards game-based learning solutions for training and recruitment processes will spur business opportunities for the market during the forecast period. Moreover, the companies are adopting gamification solutions to promote products and enhance customer relations, which, in turn, will augur well for the market in the forthcoming years, states Titled “Gamification Market Size, Share & COVID–19 Impact Analysis, By Deployment (Cloud, On-premises), By Enterprise Size (SMEs and Large Enterprises), By Application (Marketing, Sales, Product Development, Human Resource, Others) By Industry (BFSI, Retail, Government, Healthcare, Education and research, IT and Telecom, Others), and Regional Forecast, 2020-2027″ the market size stood at USD 6.33 billion in 2019.
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Cumulative Investment in Immersive Technologies to Augment Market Sales
The growing investment by companies in augmented reality (AR), virtual reality (VR), and mixed reality technologies will subsequently foster healthy growth of the market during the forecast period. For instance, Amazon.com, Inc., and Walmart are utilizing the AR, VR and mixed reality technologies to revolutionize the shopping experience for customers. Similarly, numerous companies are perpetually investing in augmented reality gamification for training and learning purposes, which, in turn, will enable speedy expansion of the market. For instance, Walmart has announced its partnership with Strivr Labs, Inc. to offer training to its employees using VR technology. The training will be provided to the company’s main 200 centers across the U.S. to demonstrate employees about valuable customer service assistance. Walmart stores have around 17000 Oculus Go VR headset for conducting employee training equipped with Strivr training. In addition, the rising adoption of VR and AR technologies by eminent companies will significantly uplift the gamification market share.
The strategies adopted by companies to train employees through gamification software during the global crisis will simultaneously foster healthy growth of the market. Besides, the increasing focus on E-learning with training and learning modules for employees during COVID-19 pandemic will promote healthy adoption of gamification.
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Heavy Demand for Customized Gamification Solutions to Boost Market in North America
The market in North America stood at USD 2.72 billion in 2019 and is predicted to grow rapidly in the forthcoming years owing to the rising demand for customized gamification solutions in the region. The well-established communication networks across large enterprises will aid the development in North America. The surge in online gamers in the US and Canada will contribute positively to the market in the region. The emergence of various online gaming solutions companies in the US and Canada will further boost the revenue of the market in the region. The rising presence of customer-centric companies such as Oracle Corporation, Cisco System, Salesforce, and others in the US will promote the market in the region. The penetration of smartphones and rising internet traffic across the retail & e-commerce sectors will favor growth of the market in North America. Moreover, the implementation of marketing and customer engagement services solutions such as NBCUniversal Media, LLC, Walgreens Co., eBay Inc., Adobe Inc by major companies will consequently create growth opportunities for the market.
List of the Key Companies Operating in the Gamification Market are:
April 2018: SAP SE announced that it has acquired Callidus Software, a sales performance management provider company. The SAP customer will get CallidusCloud customer relationship management (CRM) solution. CallidusCloud will offer an intelligent customer experience suite to the SAP customers.
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Detailed Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Gamification Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Deployment
- Market Size Estimates and Forecasts – By Enterprise Size
- Market Size Estimates and Forecasts – By Application
- Product Development
- Human Resource
- Others (Customer Engagement, etc.
- Market Size Estimates and Forecasts – By Industry
- Education and Research
- IT and Telecom
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia-Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America (LATAM)
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