Gamification Market Will Generate Record Revenue by 2030

Gamification Market

WILMINGTON, DE, UNITED STATES, February 20, 2024 /EINPresswire.com/ — The gamification industry 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, the strategic application of game elements and digital design techniques to solve non-game challenges, has emerged as a powerful tool in addressing business and social impact issues. By tapping into innate human tendencies for competition, achievement, collaboration, and altruism, gamification motivates individuals to achieve their goals and boost performance.

At the core of gamification lies the utilization of game design principles to drive real-world outcomes. By rewarding users for achievements, implementing progression systems like “leveling-up,” and issuing badges, businesses can inspire individuals to engage more deeply with their tasks and objectives. This approach not only enhances motivation but also fosters a sense of accomplishment and recognition.

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A key driver of the gamification market is its ability to enhance employee engagement through rewards and recognition. By incentivizing performance and fostering a culture of achievement, organizations can improve employee morale, productivity, and retention. Similarly, offering enticing rewards and incentives to customers and consumers can drive loyalty, increase sales, and enhance brand perception.

Moreover, gamification offers tangible returns on investment (ROI), making it an attractive proposition for businesses. By gamifying processes and experiences, organizations can drive desired behaviors, increase customer engagement, and ultimately boost revenue. This positive correlation between gamification and ROI further fuels the growth of the market.

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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.

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