The global gamification market is estimated to contribute revenue of USD 4.3 billion in 2017 and is further anticipated to witness a CAGR of 30.7% during the forecast period (2018 – 2024). Gamification technique is used by individuals for assimilating persistent game design for everyday operation basis in order to encourage and involve people in order to attain their objectives in an effective manner.
The growth of the market is anticipated to be high due to increasing capability of this technique to satisfy the needs and desires of an individual pertaining to their virtual achievement and position. It has been observed that the accomplishments in this technique is measured through scores, points and level crossing, Moreover, the ability to upgrade the overall experience of the users is another factor pertaining towards the growth of gamification market across the globe.
The absence of improvement in designs of game in various developed as well as developing economies is expected to hamper the growth of the gamification market. However, less awareness and low accessibility about gamification technique along with understated effects on the attitude of users is further hampering the growth of the market.
Globally industry players are leveraging market growth through technological upgradation, providing strategic assistance to the clients along with mergers and acquisitions in the gamification market, globally. Moreover, the key players are offering offers such as information management, data mining and revenue enhancement ideas and solutions.
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Geographically, North America has accounted for the largest share of more than 45% in 2017 and is further anticipated to witness considerable growth during the forecast period. The growth of this market in the region is attributed to the extensive adoption of enterprise-based and customer-based solution in this region. In order to aggravate the marketing activities of their organizations, countries such as the U.S. and Canada are rapidly adopting gamification technique with the use effective branding, advertising and customer interaction. These factors are thereby accentuating the demand for gamification market in this region.
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