Press release
Serious Games Market on Track for Strong Growth, Estimated to Grow at 23.7% CAGR Through 2029
Serious Games
What Is the Expected CAGR for the Serious Games Market Through 2025?
The dimension of the serious games market has drastically expanded in the past years. The market will elevate from $11.44 billion in 2024 to an estimated value of $13.52 billion in 2025, experiencing a compound annual growth rate (CAGR) of 18.2%. The growth during the historical period can largely be credited to educational ventures, training in healthcare, corporate training and skill enhancement, applications in military and defense sector, and initiatives to increase employee engagement and productivity.
What's the Projected Size of the Global Serious Games Market by 2029?
An escalation is anticipated in the size of the serious games market in the forthcoming years. It is projected to ascend to the value of $31.66 billion by 2029, with impressive compound annual growth rate (CAGR) of 23.7%. This expansion in the projected period is linked to factors such as personalized learning applications, improvements in patient care in healthcare, enhancement in diversity and inclusion training, the worldwide spread of e-learning, and the emergence of gamified evaluations. The period is also to see major trends like the blending with artificial intelligence (AI), progress in virtual reality (VR) and augmented reality (AR), expanded access to technology, the application of gamification in corporate training, and cross-platform accessibility.
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Top Growth Drivers in the Serious Games Industry: What's Accelerating the Market?
The surge in incorporating virtual reality into training and professional development efforts is predicted to promote expansion in the serious games market. Virtual reality, a digitally contrived environment portrayed in a manner that convinces the user of its authenticity, establishes a training ground for individuals to test new abilities, safely make mistakes, learn, and grow in their careers. For example, as reported by the National Institutes of Health (NIH), a government agency in the U.S., forecasted spending for AR and VR technologies will overshoot $215 billion in 2021, with the worldwide healthcare AR and VR industry expected to achieve $5.1 billion by 2025, according to data from February 2022. Therefore, embracing the use of virtual reality for training and professional development is poised to fuel expansion in the serious games market.
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What Trends Will Shape the Serious Games Market Through 2029 and Beyond?
Advancements in technology infrastructure have surfaced as a vital trend in the serious games industry. Major players in this market are infusing innovations into games with the help of cloud computing, virtual reality, the metaverse, and other cutting-edge technologies. The metaverse, a virtual universe where users interact in a computer-generated landscape, enhances the gaming experience by making it more interactive and real-time. In evidence of this, Amazon, an American multinational corporation specializing in e-commerce, cloud computing, digital streaming, and artificial intelligence, initiated AWS Cloud Quest in March 2022. AWS Cloud Quest is a web-based role-playing game intended to simplify learning of cloud computing techniques for users. Cloud practitioners within the game can create avatars that help virtual city dwellers in solving cloud-related technical issues. Gamers can earn a variety of rewards like new character styles, pet allies, city motifs, and virtual items like a hoverboard and a unicorn pool float by accomplishing Amazon Web Services simulations and challenges.
What Are the Main Segments in the Serious Games Market?
The serious gamesmarket 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
Subsegments:
1) By Smartphone: Mobile Apps, Augmented Reality (AR) Games
2) By Console: PlayStation, Xbox, Nintendo Switch
3) By PC: Windows, macOS, Linux
4) By Other Platforms: Virtual Reality (VR) Systems, Web-Based Games
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Which Top Companies are Driving Growth in the Serious Games Market?
Major companies operating in the serious games market include IBM Corporation, Cisco Systems Inc., 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, 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.
Which Regions Will Dominate the Serious Games Market Through 2029?
Asia-Pacific was the largest region in the serious games market in 2024. 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.
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