Serious Games Sector Booms at a CAGR of 18.47%: Key Trends and Market Dynamics Uncovered

Serious games are interactive experiences designed for purposes beyond mere entertainment. They leverage the engaging qualities of games to educate, train, inform, or promote behavioral or cognitive changes. These games can cover a wide range of topics, from healthcare and education to corporate training and public policy. The term "serious games" encompasses various forms, including simulations, educational games, training modules, and more. They often incorporate elements such as challenges, rewards, and feedback to engage users actively in learning or problem-solving processes.

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As per the report published by Allied Market Research, the global serious games market was pegged at $5.94 billion in 2020, and is expected to reach $32.72 billion by 2030, growing at a CAGR of 18.4% from 2021 to 2030.

The Asia-Pacific region holds a prominent position in the global serious games market due to several factors. One key factor is the substantial presence of active social media users within its large population, coupled with the presence of developing nations like India, China, South Korea, and others. Additionally, there is a rising demand for educational tools that effectively engage and enhance students' knowledge and interest. Businesses are increasingly drawn towards cost-effective training modules, and there is notable growth in research, planning, and the emergence of robust technological infrastructure. These elements collectively present substantial growth prospects for the serious games market in Asia-Pacific.

Rise in demand for better user engagement platforms across organizations, improvement in learning outcomes, adoption of virtual reality in training and development activities, and rise in use of mobile-based educational games have boosted the growth of the global serious games market. However, unsuitable game designs and lack of awareness regarding the advancements and use of serious games hinder the market growth. On the contrary, advent of social networks and inclination toward interactive advertisements coupled with large-scale digitization would unlock new opportunities in the future.

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Based on gaming platform, the smartphone segment dominated the serious games market in 2020, and is expected to continue this trend during the forecast period. With the rapid rise in mobile gaming in the past five years, smartphones are anticipated to gain market traction in the coming years. One of the perks of this gaming platform is its cost-effectiveness.

According to the application, the simulation and training segment dominated the serious games market in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to ongoing trend of game-based learning among organizations to achieve impressive performance results from employees. Serious games are being used in a variety of simulation and training use cases, such as corporate education, emergency services training, and health care among other purposes. However, the research and planning segment is expected to witness highest growth rate during the serious games market forecast period.

In 2020, based on industry vertical, the education segment dominated the global serious games market growth, and is expected to maintain its dominance in the upcoming years. Serious games help in gaining extended retention, efficient memorization, can be customized, create huge volume of information, offer interactive & attractive interaction with individuals, and save time & costs. In addition, they help in understanding cultural heritage with an interactive session that is expected to attract students' attention. Other factors positively affecting the adoption of serious games in the education industry include rise in usage of inexpensive & ubiquitous hardware, availability of robust networks that enable easy connectivity, adoption of brain science software, and pressure on educational institutes to enhance the skills of students.

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Following the COVID-19 pandemic, the market experienced a significant shift, growing from a valuation of $5.94 billion in 2020 to a projected $32.72 billion by 2030, with a compound annual growth rate (CAGR) of 18.47%. Notably, the anticipated value for 2030 surpasses pre-COVID-19 estimations. The global closure of schools due to the pandemic resulted in over 1.2 billion students being out of traditional classrooms, prompting a major transition in education towards e-learning, where instruction is delivered remotely via digital platforms.

However, this shift has led to a decline in students' enthusiasm for learning. To address this challenge, e-learning systems have integrated serious games into their platforms to enhance engagement. According to BYJU'S, an Indian e-learning platform, the strategic inclusion of gaming elements has shown promising results, particularly in increasing enthusiasm among younger students over time. Consequently, there's been a growing awareness of the market in question.

Moreover, in response to the COVID-19 crisis, on March 30, 2020, the International Nursing Association of Clinical Simulation and Learning (INACSL) and the Society for Simulation in Healthcare (SSH) advocated for the use of virtual simulations to substitute clinical hours for students in health sciences professions, such as nursing and medical students.

Some of the key serious games industry players profiled in the report include BreakAway, Ltd., Designing Digitally, Inc., DIGINEXT, IBM Corporation, Cisco Systems Inc., Virtual Heroes, Inc., Nintendo Co., Ltd., Promotion Software GmbH, Revelian, and Tata Interactive Systems. This study includes market share, trends, serious games market analysis, and future estimations to determine the imminent investment pockets.

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