Human beings possess a tendency to influence their own behaviors and modify their behavior patterns based on various positive experiences gathered through activities such as playing games, watching movies, reading novels, and receiving rewards and recognition. Solutions offered in the global gamification market utilize this human tendency to engage their users in a better way and providing benefits such as enhanced customer experience, reward setting, and enhanced employee engagement. Exponential growth in the amount of mobile devices and smartphones all over the globe has created huge potential for expansion for the players in global gamification market. Ability of gamification systems to potentially architect model human behavior to induce increased productivity, better engagement, and enhanced innovation is gathering interest in the global gamification market from various corporate entities and business organizations across diverse set of industry verticals. These methods and techniques are increasingly being used in advanced applications such as crowdsourcing.
Growing shift of both employees and consumer from desktop to internet enable remote and mobile devices has created multiple opportunities for the participants in the global gamification market. Increased penetration of social media platforms such as twitter, Facebook, and Instagram has also increased the potential of the products and services in the global gamification market by enabling users to connect, track, and communicate with their acquaintances and friends remotely in real time. This can effectively enhance the receptivity and reach of the solutions provided by global gamification market.
Global Gamification Market: Overview
Gamification, in which designers combine elements of gameplay in non-gaming setting to improve user engagement in a product or service, is gradually gaining traction. By incorporating badges and leaderboards in an existing system, designers intend to keep users motivated. They up the productivity of employees and loyalty of customers. While the market for gamification is still in a nascent stage, it seems primed to explode in the near future with both established players and startups jumping on to it with unique products.
Global Gamification Market: Drivers and Restraints
There are numerous benefits of gamification. It brings about a better learning experience and environment and provides instant feedback to participants. It can also bring about behavioral changes. Because of its multi-faceted benefits, it can be leveraged to facilitate most learning needs such as induction and onboarding, customer support, product sales, soft skills, generating awareness, and compliance. All the aforementioned are serving to drive its demand in the market. Companies keen on preventing employee attrition are seen adopting the new method to engage employees; business entities are also seen trying to promote products or services through it.
One more factor leading to the progress in the market for gamification is the constant efforts by UX designers to come up with more innovative products to keep end users glued and achieve the desired purpose. In fact savvy companies are seen pouring money into product development.
However, the market potential is being undermined to a degree owing to the lack of knowledge of the relatively new product. Besides, with designers failing to churn out appropriate and unique designs every now and then, the market growth is getting slowed too.
Despite such hiccups, the gamification market is predicted to make impressive strides in the next couple of years owing to the massive volumes of information being churned out in the digital world and also because of such trends such as bring your own devices (BYOD) in offices. A noticeable trend in the market is the uptake of cost effective cloud-based gamification techniques, especially in small and medium sized enterprises.
Global Gamification Market: Regional Analysis
Geographically, the key segments of the global market for gamification are North America, Asia Pacific, the Middle East and Africa, Europe, and the Rest of the World. Among those, Europe and North America gross maximum revenue at present. This is mainly on account of high degree of awareness about the method among companies in the region alongside the high degree of digitization. Going forward too, the regions are expected to remain dominant markets on account of the aforementioned reasons and also because of the presence of many key players in the region. Currently, the North America market is mainly being powered by the U.S. where enterprise-based gamification solutions are much sought after because of a well-developed gamification ecosystem.
Global Gamification Market: Competitive Landscape
Prominent participants in the global market for gamification that have managed to grab a substantial market share include BigDoor, Gamifier, Bunchball, Alive Mobile, CloudCaptive, iActionable, and Gamify.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.