iCrowd Newswire – Jul 8, 2020
These days, enhancing the customer experience and engagement has become an important part of every industry. Since a large number of companies are catering to similar kinds if needs of consumers, the requirement for setting themselves apart from other players in domains has risen significantly for enterprises. One of the ways to do that is by making sure that customers are given priority so that they do not feel the need to look for other options. In order to do so companies are making use of different technologies, including gamification, which refers to the addition of game mechanics into different non-game environments, including online communities, websites, businesses’ intranet, and learning management system.
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The global gamification market generated revenue of $7,841.5 million in 2019 and is projected to attain a value of $76,298.9 million by 2030, advancing at a 24.2% CAGR during the forecast period (2020–2030). Both consumer-driven and enterprise-driven solutions are offered under the gamification technology. Enterprise-driven solutions were more in demand in the past because of the swift adoption of gaming elements in workforce management in the corporate sector for motivating employees. The demand for consumer-driven solutions is also expected to rise in the near future, owing to the fact that good consumer engagement is important for building brand loyalty, due to which various companies are using gamification for this purpose.
The objective of this research includes;
- Historical and the present size of the gamification market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
The primary aim of gamification is to engage employees, consumers, and partners for inspiring interaction, sharing, and collaboration. The audience is provided with feedbacks and proactive directives through game dynamics and mechanics that are added to online platforms. Companies are increasingly utilizing personalized quizzes and games for enhancing customer engagement and building brand loyalty. Moreover, by providing users with reward-based promotions, personalized avatars, and progress indicators, the gamification technology encourages them to refer the brand to other people or make more purchases.
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Geographically, North America made the most use of the gamification technology in the past, which can be attributed to the rising number of gamification start-ups, early penetration of the technology for product development and marketing, and increasing investments in the IT sector in the region. In addition to this, the strong focus enterprises on improving their employee performance and customer engagement and growing demand for gamification solutions integrated with artificial intelligence are also resulting in the growth of the gamification market.
The research includes detailed analysis of;
Based on Solution
Based on Deployment
Based on Application
- Product Development
- Human Resources
Based on End User
- Banking, Financial Services, and Insurance (BFSI)
- Media and Entertainment
- Information Technology (IT) and Telecom
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Keywords: Gamification Market, Gamification Market Size, Gamification Market Share, Gamification Market Trends, Gamification Market Forecast,Gamification Market Demand, Gamification Market Drivers, Gamification Market Analysis