Rapid Growth Forecasted for Game-Based Learning Market Amidst Shifting Educational Trends

According to the report published by Allied Market Research, the global game-based learning market generated $16.2 billion in 2021, and is expected to reach $79.9 billion by 2031, registering a CAGR of 17.4% from 2022 to 2031. The report offers an in-depth analysis of changing market trends, key segments, competitive scenario, value chain, and the impact of the Covid-19 pandemic. This research provides a detailed guidance to market players, investors, stakeholders, and startups in devising strategies for achieving a long-term growth and gaining competitive edge across the global market.

Game-based learning refers to the borrowing of certain gaming principles and applying them to real-life settings to engage users. The motivational psychology involved in game- based learning allows students to engage with educational materials playfully and dynamically. Game-based learning sector often connects technologies such as artificial intelligence (AI), internet of things (IoT), and AI, VR and AR to provide insights that would foster efficient education system.

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Furthermore, technological advancements in game-based learning such as inclusion of artificial intelligence (AI), augmented reality (AR), the release of 5G, and increase in smartphones globally are some factors that drive the growth of game-based learning market. However, cost of implementation of game-based learning hampers the growth of the market. Furthermore, the emergence of cloud deployment and rise in demand for game-based learning are expected to provide lucrative opportunities to the game-based learning market.

Challenges:

1. Content Development Costs: Developing high-quality educational games can be expensive and time-consuming.

2. Integration with Curriculum: Ensuring that game-based learning aligns with educational objectives and curriculum standards can be challenging.

3. Digital Divide: Not all students have equal access to the technology required for game-based learning, which can create disparities in educational outcomes.

4. Data Privacy and Security: Concerns regarding the collection and use of student data in educational games.

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Future Trends:

1. AR and VR Integration: Continued growth in the use of augmented and virtual reality technologies for immersive learning experiences.

2. Adaptive Learning: Games that adapt to the learner's progress and customize the learning experience.

3. Gamification of Professional Development: Increasing use of game-based learning in corporate training and skill development programs.

4. Mobile Learning: More focus on mobile-friendly games to cater to the growing use of smartphones and tablets in education.

Covid-19 Scenario:

• Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions implemented by governments during the Covid-19 pandemic. This led to increase in development and adoption of game-based learning models worldwide.

• With emergence of innovative e-learning models, game-based learning became one of the leading models adopted across the globe. This, in turn, made a positive impact on the overall revenue of the market.

• The U.S., China, Italy, and other developed countries were one of the first adopting countries for game-based education courses along with teaching methodologies. Many countries followed the adoption.

• The investments in game-based learning technologies and institutes surged considerably during the pandemic to provide various methods of teaching and make a mark.

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The research provides detailed segmentation of the global game-based learning market based on component, deployment model, game type, industry vertical, and region. The research analyzes their sub-segments to determine fastest growing and highest revenue-generating segments for market players and new entrants. Market size and estimations for each segment and sub-segment are offered in the report to determine the steps to be taken in the coming years.

Based on component, the solution segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 18.7% from 2022 to 2031.

Based on deployment model, the on premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global game-based learning market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 18.3% from 2022 to 2031.

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Leading market players of the global game-based learning market analyzed in the research include Cisco Systems Inc., Duolingo, Hurix Digital, Learning Pool, StratBeans Consulting Pvt. Ltd., ELM Learning, Centrical, Cognitive Toybox Inc., G-cube, Gametize, EI Design Pvt. Ltd., Allen Communication Learning Services, Learnbrite, Schell Games, Filament Games, and Toolwire Spaces Learning and Performance Development Group. Product portfolio, business performance, and key development and moves are highlighted in the report for these market players.

The global game-based learning market is projected to witness prominent growth, especially in Asia-Pacific and North America. This growth is attributed to increased investments by key players for game-based learning and adoption of cloud-based game learning systems. In addition, the adoption of IoT (Internet of Things) based devices globally and technological advancements such as augmented reality (AR) and virtual reality (VR) provide ample growth opportunities for game-based learning market.

Furthermore, factors such as increase in need for operational efficiency in education processes and rise in demand for data-driven teaching are expected to fuel the market growth. In addition, surge in adoption of cloud as well as mobile-based applications is expected to drive growth of the market. In addition, game-based learning has been significantly driven by the government's focus on strengthening digital infrastructure, such as providing internet connectivity in the remote areas. For instance, in July 2022, as per data portal, a total of 5.03 billion people around the world use the internet, equivalent to 63.1 percent of the world's total population.

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