LONDON, March 02, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the game-based learning market, the rising focus on personalized learning is expected to propel the growth of the game-based learning market. Personalized learning is the process of customizing learning according to the needs, interests, strengths, and skills of a student. The tasks are tailored as per the abilities and interests of the learners, which will shift the responsibility for learning to the learner. Game-based personalized learning aids in the enhancement of learning experiences in a more timely and efficient manner. It simulates real-world experiences and applications for the facilitators and learners.
For instance, according to the Economic Times, an India-focused daily newspaper, in 2021, private equity investments in EdTech companies focusing on personalized learning will be valued at around USD 5 billion. Therefore, the growing focus on personalized learning is driving the growth of the game-based learning market.
The global game-based learning market size is expected to grow from $9.54 billion in 2021 to $11.73 billion in 2022 at a compound annual growth rate (CAGR) of 22.97%. The change in the game-based learning industry growth trend is mainly due to the companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $27.52 billion in 2026 at a CAGR of 23.77%.
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Strategic partnerships and collaborations between companies are a gaining popularity amongst the game-based learning market trends. Major players operating in the market are partnering and collaborating to develop and offer innovative services. For instance, in December 2021, Microsoft India collaborated with WhiteHat Jr to provide an immersive and personalized learning experience to teachers and students through game-based learning. The new Code with Minecraft program includes a highly curated curriculum, which provides an opportunity for the students to master the coding concepts.
Major players in the game-based learning market are BreakAway Games, Gamelearn, Recurrence Inc, StratBeans Consulting, Simulearn, Playgen, Fundamentor, Kuato Studios, G-Cube, Hornbill FX, MLevel, Gametize, LearningWare, Inc, Indusgeeks, Growth Engineering, MAK Technologies, Lumos Labs, Games2Train, SCVNGR, Will Interactive, LearningWare, Kahoot, Frontier Developments, Minecraft, Spin Master, Schell Games, Tangible Play, Raptivity, Banzai Labs, Cognitive Toybox, and Idnusgeeks.
The global game-based learning market is segmented by component into solution, service; by deployment mode into cloud, on-premise; by game type into AR VR games, AI-based games, location-based games, assessment and evaluation games, training, knowledge and skill-based games, language learning games, others; by end-user into consumer, education, government, enterprises.
North America was the largest region in the game-based learning market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the game-based learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Game Based Learning Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide game-based learning market overviews, analyze and forecast market size and growth for the whole market, game-based learning market segments and geographies, game-based learning market trends, game-based learning market drivers, game-based learning market restraints, game-based learning market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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