Gamification Market: To Hold A High Potential For Growth By 2018 - 2026

 Gamification Market

Human beings possess a tendency to influence their own behaviors and modify their behavior patterns based on various positive experiences gathered through activities such as playing games, watching movies, reading novels, and receiving rewards and recognition. Solutions offered in the global gamification market utilize this human tendency to engage their users in a better way and providing benefits such as enhanced customer experience, reward setting, and enhanced employee engagement. Exponential growth in the amount of mobile devices and smartphones all over the globe has created huge potential for expansion for the players in global gamification market. Ability of gamification systems to potentially architect model human behavior to induce increased productivity, better engagement, and enhanced innovation is gathering interest in the global gamification market from various corporate entities and business organizations across diverse set of industry verticals. These methods and techniques are increasingly being used in advanced applications such as crowdsourcing.

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Growing shift of both employees and consumer from desktop to internet enable remote and mobile devices has created multiple opportunities for the participants in the global gamification market. Increased penetration of social media platforms such as twitter, Facebook, and Instagram has also increased the potential of the products and services in the global gamification market by enabling users to connect, track, and communicate with their acquaintances and friends remotely in real time. This can effectively enhance the receptivity and reach of the solutions provided by global gamification market.

Global Gamification Market: Overview

Gamification, in which designers combine elements of gameplay in non-gaming setting to improve user engagement in a product or service, is gradually gaining traction. By incorporating badges and leaderboards in an existing system, designers intend to keep users motivated. They up the productivity of employees and loyalty of customers. While the market for gamification is still in a nascent stage, it seems primed to explode in the near future with both established players and startups jumping on to it with unique products.

Global Gamification Market: Drivers and Restraints

There are numerous benefits of gamification. It brings about a better learning experience and environment and provides instant feedback to participants. It can also bring about behavioral changes. Because of its multi-faceted benefits, it can be leveraged to facilitate most learning needs such as induction and onboarding, customer support, product sales, soft skills, generating awareness, and compliance. All the aforementioned are serving to drive its demand in the market. Companies keen on preventing employee attrition are seen adopting the new method to engage employees; business entities are also seen trying to promote products or services through it.

One more factor leading to the progress in the market for gamification is the constant efforts by UX designers to come up with more innovative products to keep end users glued and achieve the desired purpose. In fact savvy companies are seen pouring money into product development.

However, the market potential is being undermined to a degree owing to the lack of knowledge of the relatively new product. Besides, with designers failing to churn out appropriate and unique designs every now and then, the market growth is getting slowed too.

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Despite such hiccups, the gamification market is predicted to make impressive strides in the next couple of years owing to the massive volumes of information being churned out in the digital world and also because of such trends such as bring your own devices (BYOD) in offices. A noticeable trend in the market is the uptake of cost effective cloud-based gamification techniques, especially in small and medium sized enterprises.

Global Gamification Market: Regional Analysis

Geographically, the key segments of the global market for gamification are North America, Asia Pacific, the Middle East and Africa, Europe, and the Rest of the World. Among those, Europe and North America gross maximum revenue at present. This is mainly on account of high degree of awareness about the method among companies in the region alongside the high degree of digitization. Going forward too, the regions are expected to remain dominant markets on account of the aforementioned reasons and also because of the presence of many key players in the region. Currently, the North America market is mainly being powered by the U.S. where enterprise-based gamification solutions are much sought after because of a well-developed gamification ecosystem.

Global Gamification Market: Competitive Landscape 

Prominent participants in the global market for gamification that have managed to grab a substantial market share include BigDoor, Gamifier, Bunchball, Alive Mobile, CloudCaptive, iActionable, and Gamify.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.