Unlocking the Potential of Serious Gaming: Market Projected to Reach USD 32.72 Billion by 2030
The report segments the global serious games market on the basis of analysis gaming platform, applications, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 8, 2023 /EINPresswire.com/ — The global serious games market was pegged at $5.94 billion in 2020, and is expected to reach $32.72 billion by 2030, growing at a CAGR of 18.4% from 2021 to 2030.
Rise in demand for better user engagement platforms across organizations, improvement in learning outcomes, adoption of virtual reality in training and development activities, and rise in use of mobile-based educational games have boosted the growth of the global serious games market. Advent of social networks and inclination toward interactive advertisements coupled with large-scale digitization would unlock new opportunities in the future.
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On the basis of gaming platform, the smartphone segment dominated the market in 2020, contributing to more than one-third of the market. In addition, the segment is projected to manifest the highest CAGR of 19.0% during the forecast period. The report also analyzes the segments including console, PC, and others.
Based on application, the simulation and training segment held the largest share in 2020, accounting for more than one-third of the market. However, the research and planning segment is estimated to register the highest CAGR of 20.1% during the forecast period.
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The global serious games market includes an in-depth analysis of the prime market players such as BreakAway, Ltd., DIGINEXT, Designing Digitally, Inc., Intuition, IBM Corporation, Nintendo Co., Ltd., Learning Nexus Ltd, Revelian, and Tata Interactive Systems.
The global serious games industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the market across LAMEA region is expected to portray the highest CAGR of 19.6% from 2021 to 2030.
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Some of the Recent Product Launches, Product approval, Announces and Merger in Serious Games Market –
• Product Launch: In February 2022, Cogniss announced the launch of its new serious game authoring tool, which allows developers to create custom games that can be used for training, education, and other purposes.
• Product Approval: In October 2021, the US Food and Drug Administration (FDA) granted clearance for the use of a serious game called “Akili” as a treatment for ADHD in children. This is the first time the FDA has cleared a video game for medical use.
• Announcement: In August 2021, Unity Technologies announced the acquisition of Interactive Data Visualization (IDV), a company that specializes in 3D visualization and simulation software. The acquisition is expected to enhance Unity’s capabilities in the serious games market.
• Merger: In May 2021, Learning Technologies Group (LTG) announced the acquisition of eLearning Brothers, a provider of custom eLearning development and serious games. The acquisition is expected to expand LTG’s offerings in the corporate training and education market.
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The report provides a detailed analysis of key market players operating in the global market. They adopted numerous strategies such as new product launches, collaborations, business expansion, partnerships, mergers and acquisitions, joint ventures, and more in order to stay competitive in the market.
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