Gamification Market Growing at Exponential CAGR by 2030 | Ambition, Axonify Inc., Bunchball Inc, G-Cube

The gamification market was valued at $9.9 billion in 2020, and is estimated to reach $95.5 billion by 2030, growing at a CAGR of 25.6% from 2021 to 2030.

The service segment is expected to witness significant growth during the forecast period, owing to high demand of gamification services across various industries for improving the ability of the workers and to provide enhance customer experience, which in turn is expected to propel the market growth.

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Gamification is the application of game elements and digital game design techniques for non-game problems, such as business and social impact challenges. Gamification leverages natural tendencies of people for competition, achievement, collaboration, and charity. Tools employed in game design, such as rewarding users for achievements, "leveling-up," and earning badges are carried into the real world to help motivate individuals to achieve their goals or boost performance.

Furthermore, the key factor that drives the market includes rewards and recognition to employees over performance to boost the employee engagement and providing lucrative offers to the customers and consumers boost the growth of the gamification market. In addition, gamification yields higher ROI positively impacts the growth of the market. However, complexities in developing gamification application and short lifecycle of gamification hinders the market growth. On the contrary, adoption of AI for processing and showing personalized results is expected to offer remunerative opportunities for expansion of the gamification market during the forecast period.

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Region wise, the gamification market size was dominated by North America in 2020, owing to increase in adoption of gamification in healthcare and rise in number of technology launches. In addition, gamification is primarily useful for behavioral changes, incentivizing people to increase their wellness by performing game-like tasks and receiving rewards. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in awareness related to significant advantage of gamification among developing nations.

The key players that operate in the gamification market forecast are Ambition, Axonify Inc., Bunchball Inc., callidus Software Inc., Cognizant Technology Solution Corp, Cut-e GmbH, G-Cube, Iactionable Inc, Microsoft Corporation, and MPS Interactive Systems Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the gamification industry.

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