Gamification Market Size, Share, Growth, Trends, Applications, and Industry Strategies

The global gamification market generated revenue of $7,841.5 million in 2019 and is projected to attain a value of $76,298.9 million by 2030, advancing at a 24.2% CAGR during the forecast period (2020–2030). Both consumer-driven and enterprise-driven solutions are offered under the gamification technology. Enterprise-driven solutions were more in demand in the past because of the swift adoption of gaming elements in workforce management in the corporate sector for motivating employees. The demand for consumer-driven solutions is also expected to rise in the near future, owing to the fact that good consumer engagement is important for building brand loyalty, due to which various companies are using gamification for this purpose.

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The primary aim of gamification is to engage employees, consumers, and partners for inspiring interaction, sharing, and collaboration. The audience is provided with feedbacks and proactive directives through game dynamics and mechanics that are added to online platforms. Companies are increasingly utilizing personalized quizzes and games for enhancing customer engagement and building brand loyalty. Moreover, by providing users with reward-based promotions, personalized avatars, and progress indicators, the gamification technology encourages them to refer the brand to other people or make more purchases.

Several industries, including retail, media & entertainment, information technology and telecom, banking, financial services, & insurance, healthcare (BFSI), healthcare, education, and government, are extensively utilizing gamification. The retail industry made the most use of the gamification technology in the past for augmenting sales and brand loyalty by establishing better customer engagement. Furthermore, retailers are also using this technology for analyzing preference and purchasing behavior of customers. Apart from this, the media & entertainment industry is also projected to make significant usage of gamification in the coming years for understanding customer preferences, promoting new products, raising the rate of subscriptions, and creating awareness regarding the brand.

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Geographically, North America made the most use of the gamification technology in the past, which can be attributed to the rising number of gamification start-ups, early penetration of the technology for product development and marketing, and increasing investments in the IT sector in the region. In addition to this, the strong focus enterprises on improving their employee performance and customer engagement and growing demand for gamification solutions integrated with artificial intelligence are also resulting in the growth of the gamification market.

Hence, the surging need for customer engagement is driving the demand for gamification.

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This release was published on openPR.