The global gamifi market size was valued at USD 10.2 Billion in 2022 and is estimated to grow to about USD 95.3 Billion by 2030, with a compound annual growth rate (CAGR) of approximately 25.40% over the forecast period.
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➤ Increasing Utilization of Smartphones
The potential for gamification has been significantly enhanced by the growing prevalence of devices. Americans are known to monitor their phones an average of 80 times per day. The 2022 GSMA Mobile Economy Report indicates that the global number of mobile internet subscribers has reached 4.2 billion individuals. By the end of 2021, 5.3 billion individuals had subscribed to mobile services, which accounted for 67% of the global population. Furthermore, the transition of customers and employees from desktop computers to mobile phones and internet devices offers a valuable platform for banks to pique consumer interest and increase conversion/usage.
➤ Increasing Concerns Regarding Design Considerations and Output
It is imperative to incorporate gamification into the design process to guarantee that the intended objective is accomplished. Conversely, designers have been observed to be unsuccessful in developing designs that are both sophisticated and unique to the specific requirements of each organization. This could potentially impede the market’s adoption of remedies. Despite the fact that a solution is intended for a specific business, it will not yield the desired results for other audiences, resulting in a challenging development process. Consequently, in order to achieve the desired outcome, a well-designed design with proper implementation is necessary; otherwise, the outcome will be compromised, and the market will expand gradually.
➤ Integration of technologies such as AV, VR, and mixed reality is becoming more prevalent.
It is anticipated that the gamifi industry will experience significant development opportunities in the future as a result of the growing integration of technologies such as AV, VR, and Mixed Reality. Gamification solutions are being developed by employing these immersive technologies. For instance, Walmart and Amazon.com, Inc. are utilizing mixed reality, virtual reality, and augmented reality technologies to revolutionize the purchasing experience. Utilizing immersive technologies, these organizations implement virtual reality showrooms to exhibit their merchandise.
➤ Difficulties in the Development of Gamification Applications
The market’s expansion is anticipated to be restricted by the escalating intricacies of gamification development. Games are intricate creations, and the process of game engineering is challenging, necessitating proficiency in programming, psychology, and design, to name a few. Games, like gamification, are designed to provide consumers with engaging experiences.
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The Global Gamifi Market is segmented based on product, application and region
Global Gamifi Market: Product Segment Analysis
● On-premises
● Cloud
Global Gamifi Market: Application Segment Analysis
● Banking
● Retail
● Government
● Education
● IT and Telecom
● Healthcare
● Others
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The global Gamifi market profiles key players such as:
● Microsoft
● SAP
● Verint
● Aon
● Badgeville
● Bunchball
● Cognizant
● Gigya
● Gondola
● Hoopla
● Influitive
● IBM
● Keas
● MindTickle
● Nitro
● Opower
● PugPharm
● SAP
● Salesforce
● Scavify
● Tango Card
???? Recent Developments
• Long Game, the award-winning gamified finance mobile app that is revolutionizing the way people save, learn, and engage with their finances, was acquired by Truist Financial Corporation in May 2022.
• Genesys announced in March 2020 that it had acquired nGUVU to enhance its workforce engagement management (WEM) suite with artificial intelligence (AI)-powered gamification.
➤ North America is expected to maintain the largest market share during the forecast period.
North America had the highest market share in the global gamifi market in 2021 and is expected to maintain this trend throughout the forecast period. This is due to the widespread implementation of enterprise-based and customer-based solutions in the region.
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