Portland, OR, May 24, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the gamification market generated $9.9 billion in 2020 and is expected to reach $95.5 billion by 2030, growing at a CAGR of 25.6% from 2021 to 2030. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Employee rewards and recognition for performance to drive employee engagement and providing lucrative deals to customers and consumers drive the growth of the global gamification market. However, the complexity of gamification application development and the short gamification lifecycle restrain the market to some extent. On the other hand, the adoption of AI for processing and presenting personalized results presents new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic has had a positive impact on the global gamification market, owing to the increase in demand for mobile game applications and software.
- Many large companies have adopted gamification solutions and are increasing their investments in gamification for a wide range of applications from marketing to recruiting.
- The trend is also expected to continue after the pandemic.
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The report offers detailed segmentation of the global gamification market on the basis of component, deployment type, application, company size, industry vertical, and region.
Based on the industry vertical, the retail segment held the highest market share in 2020, holding more than a fifth of the total market share. However, IT & Telecom segment is estimated to register the highest CAGR of 28.8% from 2021 to 2030.
On the basis of 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 maintain its leading status during the forecast period. However, the services segment is expected to register the highest CAGR of 27.1% from 2021 to 2030.
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Based on region, North America contributed the highest share in terms of revenue in 2020, holding more than a third of the total market share, and is expected to maintain its dominant share by 2030 However, Asia-Pacific is expected to manifest the fastest CAGR of 27.6% during the forecast period.
The main players in the world 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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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 corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.