| Source: Emergen Research
Pune, INDIA
Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) — The global gamification market size was USD 11.69 Billion in 2021 and is expected to register a revenue CAGR of 27.4% during the forecast period, according to latest analysis by Emergen Research. Use of Artificial Intelligence (AI) for processing and showing personalized results and rapid digitization of businesses to generate new revenue avenues are factors driving gamification market revenue growth.
To gain deep insights into their staff, large enterprises are implementing Al-based solutions and cutting-edge technology. Al-based gamification models give correct answers by removing uncertainty in employee motives and assisting employees in meeting objectives more effectively. For instance, since Cisco Systems gamified its social media training program, over 650 Cisco Systems workers have received accreditation for over 13,000 courses. Small and Medium-sized businesses (SMEs) are implementing Al-based solutions to improve employee motivation, engagement, and involvement. General acceptance of Al-based solutions will contribute to development of transparent and cooperative cultures, leading to market expansion. As an illustration, effective SaaS solutions built on Al technology provide digital employee interaction, engagement capabilities, and recognition, enhancing organization’s accessibility and collaborative culture. Venture capitalists are also funding emerging businesses that offer SaaS platforms based on Al technology. Worxogo Solutions Pvt. Ltd., which offers a SaaS application for employees, has received investments from companies such as Ideaspring Capital and Inventus Capital India. The service offers tailored feedback on employees’ daily performance.
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However, gamification comes with multiple challenges, such as complexity challenges, integration challenges, and narrative challenges, among others. Games are diverse artifacts and game engineering is a complicated process requiring programming skills, design, and psychology. Gamification, such as games, strives to create engaging experiences for users. However, because gamification context is governed by operational restrictions that limit unbounded design space of games, building gamified features is much more challenging than designing games, which can restrain market growth. In addition to complexity challenge, there is a larger concern, which is integrating gamified parts into pre-existing processes and platforms. Gamification is most effective when it adjusts to the company’s and customers’ usage habits, marketplaces, and social trends, therefore integration should be a major goal.
Scope of Research
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Major Companies and Competitive Landscape
The global gamification market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective gamification solutions. Some major players included in the global gamification market report are:
Strategic Development
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Some Key Highlights From the Report
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Emergen Research has segmented the global gamification market based on component type, deployment type, vertical, and region:
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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