Global Gamification Market Trends 2021

1. Global Gamification Market

2. A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting revealed that the global gamification market was worth USD 8.73 Billion in the year 2020. The market is estimated to grow at a CAGR of 21.7%, earning revenue of around USD 35.12 Billion by the end of 2027. Gamification targets the human psyche by giving them a sense of achievement through reward points and bonuses. It's a perfect way to attract people's attention to a brand and increase the possibility of them becoming customers. What’s more, Gamification is also an effective way of retaining customers. Because of COVID-19, the global gamificationmarket is expected to grow significantly during the forecast period. People nowadays are rapidly adopting internet-based services, resulting in a boom in the gamification industry. Gamification is currently used in a variety of industries, including retail, banking, healthcare, education, etc. The established market players hold the largest share in the market. The key market players have been investing a lot of money to create and maintain customer loyalty towards their brands.

3. The Retail Segment is Driving the Market Forward The retail segment in the gamification market targets the end-user of their products or services. As a result, they're making heavy use of gamification solutions to raise brand awareness within their target audience. According to reports, gamification receives 5% more interest than conventional approaches. Thus, enterprises, especially the larger ones, are increasingly integrating gamification into their offerings, propelling the industry to new heights in the forecast era. Global Gamification Market: Regional Market Geographically, the global gamification market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. North America is leading the gamification market amongst all regions, followed by Europe. This is because the leading business giants are mostly based in these regions. Business giants are increasingly implementing gamification solutions for their brands to draw consumers' interest, as well as in their businesses for workforce management, thereby, providing the market a huge boost. Read More: https://www.blueweaveconsulting.com/global-gamification-market-forecast-report/report-sample