This market research report includes a detailed segmentation of the global gamification market by deployment (on premises, cloud based, and hybrid), by size (small and medium enterprises, and large enterprises), by end user (retail, banking, government, and others) and by geography (North America, Europe, APAC, and RoW). The market research report identifies Microsoft Corporation, Salesforce.Com, Badgeville, and Bunchball as the major vendors operating in the global gamification market.
Overview of the Global Gamification Market
According to Infoholic Research, the global gamification market will grow at a rate of over 30% during the forecast period 2019–2025 and will be valued more than $32 billion by 2025. The market for gamification is driven by the increasing number of mobile devices and internet penetration. The integration of social networking platform has further enhanced the effectiveness of gamification making it reliable for large number of applications such as for crowdsourcing.
According to the gamification market analysis, North America accounted for the largest share of the global gamification market in 2018. With the presence of the highest number of technology innovators and increasing adoption of gamifications to reorganize business operations, this region is expected to dominate the market during the forecast period. The Asia Pacific region is expected to witness the fastest growth rate due to rise in the adoption of Bring Your Own Device (BYOD) especially among SMEs to enhance employee satisfaction and consumer retention.
Gamification Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the global gamification market. Major vendors across different verticals are increasingly developing products and investments in this market, and as a result the gamification market is expected to grow at a good pace in the coming years. The key players in the gamification market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain competitive advantage in the market.
Few of the Key Vendors in the Gamification Market
- Microsoft Corporation
- Badgeville, Inc.
- Arcaris, Inc.
- SAP SE
- Bigdoor, Inc.
- Faya Corporation
These companies are providing hardware and software for gamifications. There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Gamification Market Research By Deployment
On the basis of deployment mode, the global gamification market is segmented to on-premises, cloud-based, and hybrid. Cloud-based subsegment is expected to grow significantly owing to low cost availability and user-friendly deployment mode.
Gamification Market Research By Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
Based on enterprise size, the market is segmented into small and medium enterprises, and large enterprises. Large enterprises are expected to grow at the highest CAGR during the forecast period 2019–2025 predominately due to growing employee’s participation in the large enterprises.
Gamification Market Research By End-User
On the basis of end user, the market is segmented into retail, banking, government, and others. Retail segment holds the largest share in the global gamification market. This is due to the growing need of online retailers to create interactive experiences with the customers.
Gamification Market Research Benefits
The report provides an in-depth analysis of the gamification market. Factors such as increasing employee/customer engagement and improved loyalty is positively impacting the demand for gamifications globally. Recent developments indicate that this technology is approaching market readiness.
Over 60% of the business transformation fails due to lack of employee/customer engagement. Therefore, large number of companies are taking initiatives to follow gamification techniques/mechanics and bring changes in the organization. For instance Sand Cloud uses a spinner app with the exit intent, which appears on the screen. The customers have to fill few details such as their email id for the purpose of spinning wheel. The spinner is fixed and rewards including discount are provided to customers, thus attracting the customer base. Implementation of gamification will improve MTTR by up to 15%. Industries are increasingly implementing gamification. These enterprises are leveraging gamification technology predominantly to enhance their customer loyalty.
Currently, due to ease in the accessibility to digital platforms millennials have multiple choices to select the best based on their need in the online education systems. Student’s low attention levels have resulted in implementation of gamification by the faculties and it is emerging as a medium of learning to earn the interest of the students. Similarly, enterprises are implementing gamification across departments to make their employees achieve their goals.
Currently, several gamification players are offering solutions that are being used in the areas including media, retail, healthcare, education, corporate governance, e-commerce, entertainment, and mobile apps. The report discusses the market in terms of deployment, end-user, enterprise size, and regions. Further, the report provides details about the major challenges and drivers impacting the market growth.