Game-Based Learning Market: USD 79.9 Billion by 2031, at a 17.4% of CAGR, Says Allied Market Research
The research provides detailed segmentation of the global market based on component, deployment model, game type, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, February 14, 2023 /EINPresswire.com/ — The report offers an in-depth analysis of changing market trends, key segments, competitive scenario, value chain, and the impact of the Covid-19 pandemic. This research provides a detailed guidance to market players, investors, stakeholders, and startups in devising strategies for achieving a long-term growth and gaining competitive edge across the global market.
The global game-based learning market generated $16.2 billion in 2021, and is expected to reach $79.9 billion by 2031, registering a CAGR of 17.4% from 2022 to 2031.
The research analyzes their sub-segments to determine fastest growing and highest revenue generating segments for market players and new entrants. Market size and estimations for each segment and sub-segment are offered in the report to determine the steps to be taken in the coming years.
Major industry players such as – Cisco Systems Inc., Duolingo, Hurix Digital, Learning Pool, StratBeans Consulting Pvt. Ltd., ELM Learning, Centrical, Cognitive Toybox Inc., G-cube, Gametize, EI Design Pvt. Ltd., Allen Communication Learning Services, Learnbrite, Schell Games, Filament Games, and Toolwire Spaces Learning and Performance Development Group.
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Based on region, North America segment accounted for the highest share in 2021, holding more than one-third of the global market, and is expected to dominate by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 19.2% during the forecast period.
Based on industry vertical, the enterprises segment accounted for the largest share in 2021, contributing to nearly one-third of the global game-based learning industry share. However, education is projected to maintain its dominance in terms of revenue in 2031. In addition, the same segment is expected to manifest the fastest CAGR of 20.0% during the forecast period. The report also analyzes the segments including consumer, education, and government.
Based on component, the solution segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 18.7% from 2022 to 2031.
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Based on deployment model, the on premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global game-based learning market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 18.3% from 2022 to 2031.
Based on game type, the training, knowledge and skill based games segment contributed to the highest share in 2021, holding more than one-fifth of the global market. However, the language learning games segment is expected to dominate in 2031. Also, the AI-based games segment is estimated to grow at the highest CAGR of 21.6% during the forecast period.
Covid-19 Scenario:
• Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions implemented by governments during the Covid-19 pandemic. This led to increase in development and adoption of game-based learning models worldwide.
• With emergence of innovative e-learning models, game-based learning became one of the leading models adopted across the globe. This, in turn, made a positive impact on the overall revenue of the market.
• The U.S., China, Italy, and other developed countries were one of the first adopting countries for game-based education courses along with teaching methodologies. Many countries followed the adoption.
• The investments in game-based learning technologies and institutes surged considerably during the pandemic to provide various methods of teaching and make a mark.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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