360 MARKET UPDATES Report provides a 360-degree overview of the global Gamification Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Gamification Market – Segmented by Deployment Mode, Size, Type of Solution (Open Platform, Closed/ Enterprise Platform), End-User Vertical (Retail, Banking, Government, Healthcare), and Region – Growth, Trends, and Forecast (2018 – 2023)”
Global “Gamification Market” is expected to register a CAGR of approximately 44.06% during the forecast period of (2018 – 2023). Also, Gamification Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Gamification Analysis.
Gamification market Report provides a 360-degree overview of the global Gamification market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Gamification Market Report Covers Leading Manufacturers: Badgeville Inc., Bunchball Inc., Microsoft Corporation, BreakAway Games, Tata Interactive Systems, Performance Development Group, Enspire,Cognizant, Anoxify Inc.
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The global gamification market was valued at USD 2.17 billion in 2017, and is expected to reach USD 19.39 billion by 2023, at a CAGR of 44.06% over the forecast period (2018-2023). The exponential growth in the number of smartphones and mobile devices has directly created a vast base for the gamification market. This growth is also supported by the increasing recognition of gamification systems as a method to architecture human behavior to induce innovation, productivity, or engagement. The use of gamification systems has also extended beyond their traditional scope of marketing, as now they are extensively used in advance applications like crowd sourcing. Enterprise gamification systems are expected to witness a substantial growth during the forecast period. Organizations have shown a heavy inclination towards collaborative systems, which do not a create competitive environment, as they are widely considered counterproductive. However, the increasing awareness and functionality of these systems are expected to result in greater attention and research from academics and industry experts, leading to the improvement and evolution of technology.
Increasing Mobile Devices Enabling Growth in the Market
Consumers in developed nations such as the United States, find it difficult to think of time without internet and smartphones. There is a rapid rise in mobile usage, as mobile phones have become a predominant form of entertainment and communication. The increasing number of mobile devices, higher productivity, and participation through a reward structure are the factors driving the market, while a perceived lack of improvement in game designs and lack of awareness are the factors hindering market growth.
Retail Holds the Largest Market Share
Retail is an emerging industry, growing at a significant rate. Retail sales growth has been steady since 2012, as customers seek experiences and products that reflect the personal brand they promote on social media. While gamification can add entertainment and drama to a retailerâs marketing or engagement strategy, it can also provide positive behaviors from customers and employees, leading to a rich brand experience and higher sales.
For instance, Sand Cloud utilizes a spinner app with exit intent. When a consumer moves their mouse toward closing the browser tab, the spinner appears in their store. Customers are required to enter their email (allowing Sand Cloud to remarket to them) to spin the wheel. When the customer spins the wheel, theyâll receive a discount, such as USD 5 off, 15% off, or 20% off. The spinner is usually fixed so that the customer always gets a discount on the product so that theyâre incentivized to make a purchase.
North America holds the Largest Market Share
North America has a mature market for gamification in the field of marketing. However, the systems are also finding varied applications in product development and innovation in the region. The high penetration of internet and smartphone users in the region has also led to a greater use of gamification for marketing, especially using social media integration tools. These systems are designed to interact with the consumer base and market the interaction at the same time. This region is projected to witness the highest incorporation of gamification systems in enterprise level solutions, and a shift toward more technologically advanced methods in the case of consumer involvement systems.
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Reasons to Purchase Gamification Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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