The global serious games market size was worth around USD 9 Billion in 2022 and is predicted to grow to around USD 32.73 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 18.41% between 2023 and 2030.
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➤ Increasing demand for interactive learning sessions and experiences to drive revenue growth
The global serious games market is anticipated to expand as a result of the growing demand for a more interactive learning experience and the increasing competitiveness among the learner group. In numerous educational institutions, serious games have garnered a significant following and devoted consumer groups. They have even organized corporate training events, which are more interactive and dynamic than other training methods and provide exceptional learning experiences.
➤ The market growth is restricted by a lack of comprehension and awareness of serious games.
The concept of serious games is relatively new, particularly in emerging economies that are presently employing conventional methods to establish a learning environment. This is primarily relevant to educational institutions in economies that are less aware. The genuine potential of serious games when implemented in a controlled environment remains unknown to numerous organizations. In order to expand their consumer base, the serious games industry participants must intensify their marketing or advertising efforts.
➤ The cloud-based system is increasingly being utilized to offer exceptional growth opportunities.
Cloud-based tools and systems are becoming increasingly popular among enterprises and end-user verticals as digitization continues to accelerate. In addition, the smart device market has experienced substantial growth over the past decade as a result of a variety of factors. The global serious games market can benefit from the combination of both of these factors, as it will not only increase awareness but also help consumers become more comfortable with the use of advanced technologies such as serious games. In turn, this can generate excellent growth opportunities.
➤ Industry players face a critical challenge in evaluating outcomes due to the absence of effective measurement instruments.
There is a substantial dearth of tools or methods for evaluating the efficacy of the outcomes resulting from the use of serious games. This is relevant to determining whether the investment in the use of such activities yielded the desired results in terms of learning outcomes or job performance. These two factors are extraordinarily susceptible to external variables, including the learner’s emotive and intellectual quotient, learning capabilities, and intention. Therefore, users may interpret serious games as highly subjective in terms of their ability to produce the desired result.
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The Global Serious Games Market is segmented based on product, application and region
Global Serious Games Market: Product Segment Analysis
● Console PC
● Smartphone
● Others
Global Serious Games Market: Application Segment Analysis
● Research & Planning
● Simulation & Training
● Human Resources
● Advertising & Marketing
● Others
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The global Serious Games market profiles key players such as:
● IBM Technologies
● Triseum
● Unity Technologies
● DiSTI Corporation
● Serious Labs Inc.
● Virtual Heroes
● Designing Digitally Inc.
● BreakAway Games
● Learning Games Network
● Games for Change
● Epic Games
● Filament Games
● SimX
● Cogbooks
???? Recent Developments:
• In November 2022, NIPANC, a Northern Ireland charity organization, announced the launch of a new serious game in collaboration with Focus Games Limited and scholars from Queen’s University Belfast. The game is designed to raise awareness of pancreatic cancer for educational purposes. Simultaneously, the organization announced that it would introduce an additional severe game to assist medical professionals in their diagnosis of the condition.
• The United Nations Environment Programme’s (UNEP) Ozone Secretariat announced the launch of a new serious game in January 2023. The game is designed to target 13 to 18-year-olds and utilize the existing Reset Earth Education platform. The game aims to provide educators with the necessary tools to educate children about the importance of environmental protection.
➤ North America is expected to become the primary contributor.
North America is expected to experience the most significant development in the global serious games market. This is a result of the growing demand for serious games and simulations in the educational, healthcare, and military or defense sectors of the United States. The United States is home to one of the largest military groups in the world and has allocated a substantial portion of its resources to the further development and training of its military personnel.
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