Gamification Market: By Component (Solution, and Service), By Deployment Model (On-Premise, and Cloud), By Application (Sales & Marketing, Product Development, Human Resource, Support, and Others), By Industry Vertical (Retail, Education, IT and telecom, BFSI, Manufacturing, Media and Entertainment, and Other) and Geography.

Gamification Market size was valued at USD 10.6 billion in 2023 and is expected to grow at a CAGR of 22.1% in 2024-2030. Gamification can be defined as the usage of game thinking and game mechanism in non-game settings to involve users in problem-solving techniques. Customer involvement, learning, physical activity, and timeliness have been used and studied in this process. It can also be used to entertain, engage, and educate many people throughout the year. Some examples of classic games are leaderboards, points, and badges. Recognition and rewards to staff over the presentation to boost employee engagement and offering rewarding offers to the consumer can lead to the growth of the gamification market size. Moreover, higher return on investment and increasing use of gamification in e-learning are some primary factors that can boost the global gamification market size. Apart from these, an increase in mergers and acquisitions can also accelerate the market in the future. Moreover, factors such as user experience enrichment, product sales, customer and employee engagement, and customer support can also drive the global gamification market's future. However, some factors such as lack of consistency and awareness, and complications in developing gaming software can restrain the growth of the market. Increased adoption of AI for showing and processing personalized results and the growing use of smartphones can create an opportunity for the growth of the global gamification market size. Moreover, instead of customizing the entire product characteristics, it is better to improvise products that fulfill a particular application is an emerging trend in the market.

Gamification Market Key Developments:

• In September 2020, Tin Roof Software was acquired by Cognizant to expand its digital engineering services. In April 2020, AVEVA partnered with Axonify Inc to provide AI-based micropower learning for the industry.