The Gamification Market size is projected to grow from USD 9.1 billion in 2020 to USD 30.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 27.4% during the forecast period.
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=991
The major factors driving the growth of the gamification market include rewards and recognition to employees over performance to boost employee engagement, provision of lucrative offers to the customers and consumers, and gamification yielding higher Return on Investment (RoI).
By component, the solution segment of the gamification market is projected to hold a larger market size during the forecast period
Gamification software uses game-based mechanics to engage people, promote learning, and solve problems. This software enables designing, creating, and managing gamified learning processes, which enhance the engagement of the users. Gamification involves two different approaches, which include the consumer-based approach and enterprise-based approach. In a consumer-based approach, the gamification solutions mainly focus on the general consumers who can be given benefits such as cashback, rewards, loyalty points, and interactive shopping experience to engage the consumers and increase their communication with the company. In the enterprise-based approach, gamification is widely used for employee training, sales enhancement, product development, and support, among others.
By organization size, the SMEs segment to record a higher growth rate during the forecast period
The rising usage of cloud for the deployment of gamification solutions has led to the increasing adoption of these solutions among Small and Medium-sized Enterprises (SMEs). The gamification solutions are high in cost and are involved in nature. However, the availability of these solutions on the cloud has reduced this problem of cost as cloud-based solutions are less expensive compared to the on-premises solutions. SMEs have to focus on their budget constraints; so, they prefer cloud-based solutions available in the market. The SME criteria may also be based upon various metrics such as revenue generated and ownership structure. These organizations have one or more full-time employees dedicated to managing their data and IT infrastructure. Cloud-based solutions are developed, keeping in mind the limited budget of SMEs.
APAC to record the highest growth during the forecast period
APAC is growing at a faster rate in comparison to the other regions. Moreover, the countries mainly Australia and New Zealand, Japan, China, and India are prominently adopting technologies and solutions within the organizations for increasing profits along with employee satisfaction. The companies in the APAC region are demanding solutions that can help them improve their customer reach. Further, the newly-established companies in this region need those solutions that can assist them in accelerating their marketing activities and increase revenue promptly. Gamification can help companies in this region by providing them techniques to build goodwill in the market. The solutions, such as virtual badges, reward points, and club cards, are helping customers stay with the same brand for a more extended period. Furthermore, the adoption of emerging technologies and the enhancement in the economy of many countries such as India and China are driving the adoption of gamification. The lack of knowledge about gamification techniques is restraining the growth of its solutions in this region.
Get More Info - https://www.marketsandmarkets.com/Market-Reports/gamification-market-991.html
Major vendors of include Microsoft (US), SAP (Germany), BI WORLDWIDE (US), Verint (US) Aon (UK), Hoopla (US), Centrical (US), Mambo.IO (UK), MPS Interactive Systems (India), Influitive (Canada), LevelEleven (US), Ambition (US), Axonify Inc. (Canada), Gamifier (Latin America), IActionable (US), Khoros (US), Scrimmage (US), Xoxoday (India), Tango Card (US), and NIIT (US).
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com