Dallas, Texas, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The “Gamification Market by Solution (Enterprise Gamification, Consumer Gamification), Function (Marketing, Sales, Product Development, Human Resources, and Others), and Industry Vertical (Retail and E-Commerce, Media and Entertainment, Healthcare, BFSI, Education, IT & Telecommunication, and Others) and Region, Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The current and future gamification market trends are outlined to determine the overall attractiveness of the market. Top impacting factors highlight the gamification market opportunities during the forecast period. Factors such as the growing adoption of gamification solutions in e-learning are boosting the market growth. In addition, an increase in the penetration of smartphones and IoT is also driving the adoption of gamification solutions and services. However, lack of awareness about the gamification solutions is hindering the market growth. Furthermore, the increasing trend of social media and adoption of digitization is expected to provide major growth opportunities for the market in upcoming years.
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The global gamification market size is projected to reach over USD 34 billion with a CAGR of ~31% by 2025. The gamification is a methodology that incorporates game-based solutions to influence users or customers to keep them engaged with a particular function or service. In addition, with gamification techniques such as rewards, levels, goals, badges, and others, organizations can reduce their development and learning costs.
The report also throws light on various aspects of the global gamification industry by assessing the market using value chain analysis. The report comprises several qualitative aspects of the gamification industry in market drivers, restraints and key industry trends. Furthermore, the report delivers an in-depth assessment of the market rivalry with company profiles of global and local vendors.
The global gamification market has tough competition among the well-established and emerging players. These market players are targeting to achieve a competitive advantage over the other market players by engaging in partnerships, agreement, mergers and acquisitions and expanding their businesses.
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On the basis of industry verticals of the gamification market, the market is categorized into retail & e-commerce, media & entertainment, healthcare, BFSI, IT & telecommunication, and others. The retail industry dominated the market in 2018 and it is expected to remain dominant throughout the forecast period, due to growing demand from retailers to create an enhanced experience for their customers.
The Asia-Pacific region is expected to experience the fastest growth with ~36% CAGR over the forecast period. In addition, the North America segment dominated the global gamification market and it is expected to remain dominant throughout the forecast period. The market growth in this region is mainly attributed to the existence of key market players in countries such as the U.S. and Canada. In addition, major penetration of mobile phones is also fostering the adoption of gamification solutions for the marketing industry in this region. Thus, such factors driving the adoption of gamification solutions and services in this region.
The major players of the global Gamification market are Arcaris, Badgeville, Bigdoor Media, Bunchball, Faya Corporation, Gigya, LevelEleven, Microsoft, Salesforce, and SAP SE. Moreover, the other potential players in the Gamification market are Ambition, BI Worldwide (BIW), Foursquare, Cognizant Technology Solution Corp., Callidus Software Inc., and others. As of 2019, the market for Gamification is consolidated with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with new strategies and innovative Gamification solutions. For instance, in 2018 BI WORLDWIDE (BIW) acquired Bunchball, a gamification solutions provider. By acquiring Bunchball, BI Worldwide (BIW) enhanced its flexibility to the market with Bunchball’s patented gamification technology.
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Major points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Gamification Market by Function, 2018-2025 (in USD billion)
Chapter 6 Gamification Market by Solution, 2018-2025 (in USD billion)
Chapter 7 Gamification Market by Industry Vertical, 2018-2025 (in USD billion)
Chapter 8 Gamification Market by Region, 2018-2025 (in USD billion)
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
Chapter 11 Appendix
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