Press release
Serious Games Market Analysis, Trends, Growth, Research And Forecast 2033
Serious Games Market
The Business Research Company offers in-depth market insights through Serious Games Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The serious games market size has grown exponentially in recent years. It will grow from $9.71 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to educational initiatives, healthcare training, corporate training and skill development, military and defense applications, employee engagement and productivity.
The serious games market size is expected to see exponential growth in the next few years. It will grow to $25.74 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to personalized learning solutions, healthcare patient care, diversity and inclusion training, global expansion of e-learning, rise of gamified assessments. Major trends in the forecast period include integration with artificial intelligence (AI), advancements in virtual reality (VR) and augmented reality (AR), increased access to technology, gamification in corporate training, cross-platform accessibility.
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Market Segmentation:
The serious games market covered in this report is segmented -
1) By Gaming Platform: Smartphone, Console, PC, Other Platforms
2) By Application: Simulation and Training, Research and Planning, Advertising and Marketing, Human Resources, Other Applications
3) By Industry Vertical: Education, Healthcare, Aerospace and Defense, Government, Retail, Media and Entertainment, Other Verticals
Major Driver - Virtual Reality Revolution Is Transforming Training And Development In The Serious Games Market
The adoption of virtual reality in training and development activities is expected to propel the growth of the serious games market. Virtual reality is an artificial world made with software and presented to the user in a way that causes them to suspend belief and take it for granted that it is real. Virtual reality offers a learning environment where people may experiment with new skills, fail safely, learn from their errors, and advance professionally. For instance, in April 2021, according to a study conducted by the Korea World Bank Partnerships Facility, a total of 72 experiments demonstrate that VR training is equally or even more effective than conventional training at enhancing student learning results. After finishing their courses, students who received VR training reported 20% improved levels of confidence and self-efficacy. Therefore, adopting virtual reality in training and development activities is expected to drive the serious games market growth.
Competitive Landscape:
Major companies operating in the serious games market report are IBM Corporation, Cisco Systems Inc., Nintendo Co Ltd., Grendel Games, Tygron BV, MPS Interactive Systems Ltd., Applied Research Associates Inc., Hourblast Games, Cole Engineering Services Inc., Diginext, Alelo TLT LLC, Tata Interactive Systems, Promotion Software GmbH, Next Games Ltd., In-Depth Engineering Corporation, iCivics Inc., Filament Games LLC, Can Studios Ltd., BreakAway Games Ltd., Chaos Theory Games, Learning Nexus Ltd., Akili Interactive Labs, Designing Digitally Inc., Triseum LLC, DFUSION Inc., Revelian Pty Ltd., Open Mind Innovation, Deus Marmota, L.I.B. Businessgames BV, CCS Digital Education Ltd., Vcom3D Inc.
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Top Trend - Havelsan A.Ş. And Epic Games Join Forces To Advance Serious Games In Defense Sector
Major companies operating in the serious games market are forming partnerships to develop new products and strengthen their positions in the market. Collaborations and partnerships in the serious games market foster innovation, leverage complementary expertise, and accelerate the development and commercialization of advanced therapies by combining resources and capabilities. For instance, in April 2023, HAVELSAN A.Ş. a Turkey-based defense and information technology company partnered with Epic Games, Inc. a US-based video game and software development company. This partnership is to utilize the epic games' advanced capabilities of the Unreal Engine game engine by enrolling in the unreal engine service partner program. This collaboration resulted in the creation of malazgirt, a first-person shooter game built around the malazgirt Serious Game Infrastructure Project. HAVELSAN's primary focus is creating serious games for the defense sector, and enabling them to enhance their proficiency in this domain.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Serious Games Market Characteristics
3. Serious Games Market Trends And Strategies
4. Serious Games Market - Macro Economic Scenario
5. Serious Games Market Size And Growth
…..
27. Serious Games Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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