Gamification Market PESTEL Analysis, SWOT Analysis, CAGR 21.7% and Value Chain Study to 2027 | Verint Systems, Hoopla Software, Inc., Cognizant

Report Ocean releases its latest report on the global Gamification Market. The rapid growth of smartphones, handheld smart devices, along the pervasive adoption of internet-based services has specifically generated a wide demand for gamification. Other factors favoring the growth of the global gamification market include employee incentives and appreciation for boosting employee engagement, and the provision of providing consumers with lucrative incentives.

Furthermore, the rapid growth of gamification technologies and solutions in enterprises and consumer products is propelling the global market forward. Additionally, as a result of the effects of COVID-19, people are investing more and more time on their devices and they are more likely to shift to whatever has a better user interface. These factors together will help the growth of the gamification market in the forecast period.

Global Gamification Market Overview

Gamification involves the use of game-based elements in non-game environments such as a learning management system, an online community, or a website. It can also be described as a sequence of activities and processes that solve problems by adding or implementing game elements. Gamification seeks to engage customers, workers, and stakeholders in order to encourage them to cooperate, communicate, and connect. Games have high engagements due to various reasons like points, bonuses, rewards, badges, leaderboard, etc., which give a sense of achievement besides promoting healthy competition. Through the application of gamification solutions, companies are seeking to increase their user interaction.

The global gamification market was worth USD 8.73 Billion in 2020 and is further projected to reach USD 35.12 Billion by 2027, at a CAGR of 21.7% during 2021-2027 (forecast period).

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Growth Drivers

Technological Advancements and Increasing Use of Internet-Based Devices is Driving the Market Growth

Gamification solutions are witnessing a tremendous surge in their market owing to technological advancements. People nowadays spend a significant amount of time on the internet. As a result, businesses are making significant investments in this sector. Market giants such as Amazon and Walmart are providing AR and VR technologies to enhance customers’ shopping experience. Amazon is also implementing gamified solutions for the management of their warehouse employees to increase their efficiency.

Application of Gamification Solutions in all Industries Driving the Market Forward

Gamification solutions are constantly being used in almost all industries. Organizations with a larger workforce are implementing gamification to improve their employees’ efficiency and motivate them. Now, even SMEs are starting to use gamification solutions. Gamification has applications in various sectors like sales, marketing, product development, etc. It assists companies in engaging prospective consumers and enhancing their experience, as well as growing brand recognition and favoring loyalty. These factors will help the gamification market grow in the forecast period.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Gamification Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Gamification Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Gamification Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Gamification Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Gamification Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Gamification Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Gamification Market provides insight into the factors influencing its growth. This market study breaks down the Gamification Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Gamification Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Gamification Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Gamification Market are:

Microsoft Corporation, Influitive Corporation, Khoros, LLC., SAP, SE, Verint Systems, Hoopla Software, Inc., Cognizant, Callidus Software, Inc., Aon plc. (CUT-E GMBH), Mambo Solutions Ltd., MPS Interactive Systems Ltd., BI Worldwide, G-Cube, IActionable Inc, Axonify Inc., Bunchball Inc., 

Scope of the Report

The Global Gamification Market segmentation focuses on:

By Company size:

Ø  Small and Medium Enterprise

Ø  Large Enterprise

Deployment

Ø  On-premise

Ø  On-cloud

By Application:

Ø  Marketing

Ø  Sales

Ø  Product Development

Ø  Human Resource

Ø  Others

End-User:

Ø  Retail

Ø  Banking

Ø  Healthcare

Ø  Government

Ø  Education and Research

Ø  IT and Telecom

Ø  others

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