The global market for gamification, which entails deploying game mechanics into a non-game context to facilitate user engagement, is in a nascent stage waiting to explode. Points, rewards, badges, challenges, and leader boards are to name a few game mechanics. They are primarily used to enhance customer loyalty and employee productivity. Currently, a host of small and medium entities across various industries are implementing gamification solutions to boost efficiency and profitability. Sensing opportunity, a large number of established companies are rushing in to tap into the market with carefully-considered alliance and expansion strategies. The market also holds out a lot of promise for new players with opportunities to innovate new solutions and applications. The demand for gamification in developed countries is particularly high on account of the concentration of numerous organizations in them aware of various gamification solutions.
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In order to study the global market for gamification, the Transparency Market Research report segments it on the basis of end users into consumer gamification development model and enterprise gamification development model. Depending upon the business type, the report segments the market into small, medium, and large business. Based on verticals, the market is segmented into logistics, consumer goods and retail, education, IT and media, telecom, financial services, government, and other sectors. The report also leverages industry-leading analytical tools such Porter’s Five Forces and SWOT analysis to understand the current competitive dynamics in the market and profiles prominent players operating in it.
Factors majorly contributing to the global gamification market are the pressing need for customer and employee engagement. With badges and points failing to have a long lasting impact on consumer engagement, for example, gamification techniques such as a rewarding system and effective use of graphics, among others, have started to gain traction. It has significantly helped in preventing consumers from switch brands. It has also helped to stem employee attrition levels by upping their motivation levels through various gamified applications. The growing need to improve customer interaction is a significant factor that is expected to foster market growth during the forecast period.
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Posing a roadblock to the global market for gamification is the lack of awareness about the advantages of gamification. Inappropriate or unimaginative game designs is another factor thwarting the market. However, the market holds out a lot of opportunities because of the proliferation of information in digital world and popularity of trends such as bring your own device (BYOD) in offices. Another important trend noticed in the market is the popularity of cloud-based gamification techniques particularly among cost conscious small and medium sized enterprises.