Global Gamification Market Expected to Reach USD 95.5 Billion by 2030 | Top Players such as – Axonify, Callidus & Cut-e
The growth of the gamification market is mainly driven by the increasing need for businesses to enhance user engagement and drive customer loyalty.
PORTLAND, PORTLAND, OR, UNITED STATE, August 3, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Global Gamification Market Expected to Reach USD 95.5 Billion by 2030 | Top Players such as – Axonify, Callidus & Cut-e.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global gamification market was valued at USD 9.9 billion in 2020, and is projected to reach USD 95.5 billion by 2030, growing at a CAGR of 25.6% from 2021 to 2030.
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Rewards & recognition to employees over performance to boost the employee engagement and providing lucrative offers to customers & consumers drive the growth of the global gamification market. However, complexities in developing gamification application and short lifecycle of gamification restrain the market to some extent. On the other hand, the adoption of AI for processing and presentation of personalized results present new opportunities in the upcoming years.
The gamification market is segmented on the basis of component, deployment model, enterprise size, application, industry vertical, and region. On the basis of component, it is divided into solution and service. Depending on deployment model, it is segmented into on-premise and cloud. As per the enterprise size, it is studied across large enterprises and small and medium-sized enterprises (SMEs). By application, it is fragmented into marketing, sales, support, product development, human resource, and others. By industry vertical, it is fragmented into retail, education, IT & telecom, BFSI, manufacturing, media & entertainment, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on the component, the solution segment held the largest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is projected to register the highest CAGR of 27.1% from 2021 to 2030.
Based on industry vertical, the retail segment held the highest market share in 2020, holding more than one-fifth of the total market share. However, the IT and telecom segment is estimated to register the highest CAGR of 28.8% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 27.6% during the forecast period.
Leading players of the global gamification industry analyzed in the research include Ambition, Axonify, Inc., Bunchball, Inc., Callidus Software, Inc., Cognizant Technology Solution Corp., Cut-e GmbH, G-Cube, Iactionable, Inc., Microsoft Corporation, and MPS Interactive Systems Limited.
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COVID-19 Scenario:
● The outbreak of the COVID-19 pandemic led to have a positive impact on the global gamification market, owing to rise in demand for mobile gaming apps and software.
● Many large enterprises have adopted gamification solutions, and are increasing investments in gamification for wide range of applications from marketing to recruitment.
● The trend is likely to be continued post-pandemic as well.
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