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Global Serious Games Market Industry Growth Factors, Trends, Demand Status And Forecast To 2033
Global Serious Games Market
Serious Games Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $25.74 billion In 2028 At A CAGR Of 21.9% :
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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Serious Games Market Major Segments
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
Key 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.
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Prominent Trend - Technological Innovations Transforming The Serious Games Market
The emerging technological infrastructure has emerged as a key trend in the serious games market. Major players in the serious games market are bringing innovations to games through cloud computing, virtual reality, the metaverse, and other technologies. The metaverse is a virtual world in which users can communicate with each other in a computer-generated environment. It gives real-time experience to the players and makes the games interactive. For instance, in March 2022, Amazon, a US-based multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence, launched AWS Cloud Quest. AWS Cloud Quest is a role-playing game played online to make it simpler for users to learn cloud computing techniques. The cloud practitioners can design their avatars that roam a virtual city and assist its inhabitants in resolving cloud-related technological problems. Users can gain additional character styles, pet companions, city themes, and virtual goods such as a hoverboard and a unicorn pool float by completing Amazon Web Services simulations and challenge.
Serious Games Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the serious games market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the serious games market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Serious Games Market Report Structure
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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