Global Gamification Market Emerging Trends, Application, Size, Share and Challenges by 2024

Global gamification market is estimated to contribute revenue of USD 4.3 billion in 2017 and is further anticipated to witness a CAGR of 30.7% during the forecast period (2018 – 2024). Gamification technique is used by individuals for assimilating persistent game design for everyday operation basis in order to encourage and involve people in order to attain their objectives in an effective manner. 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.

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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, leader boards and points.

Geographically, North America has accounted for the largest share of more than 45% in 2017 and is further anticipated to witness considerable growth during the forecast period. The growth of this market in the region is attributed 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.

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Moreover, Asia-Pacific is expected to witness 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.

The gamification market is consolidated and the key players offering these solutions are Bunchball Inc., Badgeville Inc., Kuato Studios, SAP SE, Cisco Systems Inc., Gigya Inc., Microsoft Corporation, Knewton, BigDoor Inc., and Lithium Technologies Inc.

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