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Rapid adoption of digital learning solutions is a key factor driving game-based learning market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, May 9, 2023 /EINPresswire.com/ — The global game-based learning market size was USD 10.88 Billion in 2021 and is expected to register a revenue CAGR of 19.5% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of digital learning solutions along with increasing implementation of immersive technologies, such as Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR), is a key factor driving market revenue growth. Growing digitization is one of the key factor driving demand for game-based learning solutions, particularly in the educational sector. Such solutions promote efficient learning, problem-solving, and critical thinking, while also enhancing student engagement and motivation through the use of feedback, collaboration, and choice. Provision of online, adaptive, and engaging platforms in the form of board games, card games, word games, puzzle games, and simulation games, among others, makes it suitable for effective learning in either virtual, in-person, and hybrid learning environment. According to research, around 93% of class time is spent on class tasks when using game-based learning.
The latest market intelligence study, called “Global Game Based Learning Market Forecast to 2028,” jots down some of the most prominent growth potentials of the global Game Based Learning market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.
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Some Key Highlights From the Report
The services segment accounted for a significant revenue share in 2021. Handling integration of solutions adapted to corporate processes is rising demand for services for game-based learning solution installation. Services provide organizations with solution implementation, customization, setup, and deployment, which contributes to growth of this segment.
The Knowledge, training, and skill-based games segment accounted for a significant revenue share in 2021. Cost-effectiveness, availability of vast volume of topics, and reduced training time are a few of the key factors driving revenue growth of this segment. High demand for game-based learning solutions from the corporate sector is attributed to ease of learning of significant concepts and better retention of company policies for longer duration through such solutions. Moreover, flexibility and ease of access to such games with provision of necessary tools to keep pace with latest technological advancement are some of the key factors driving growth of segment.
The education segment accounted for a significant revenue share in 2021. Enhanced recall and better retention, ability to foster creative thinking, and problem solving capabilities through increased usage of game-based learning platforms is driving revenue growth of this segment. Utilization of games allow positive competition with introduction of goals as well as enable instant feedback on how well learner understand the topics.
The North America market accounted for largest revenue share in 2021. Rapid adoption of game-based learning solution as well as increasing integration of advanced technologies with AI, AR/VR, and cloud technologies along with traditional-based learning solution are a few of the key factors driving revenue growth of the market in region. Additionally, surging demand for content digitalization is a key factor contributing to rapid growth of the market. Increased usage of cloud technology in this region enables effective deployment of game-based learning by providing greater computational resources and storage capacity to operate AR VR-based solutions.
The leading contenders in the global Game Based Learning market are listed below:
Kahoot!, Allen Communication Learning Services, Centrical, Duolingo, Cognitive ToyBox, Inc., Filament Games, Gametize, Hurix, Schell Games, and ELM Learning
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Game Based Learning Market Segmentation:
Component Outlook (Revenue, USD Billion; 2019-2030)
Services
Solutions
Game Type Outlook (Revenue, USD Billion; 2019-2030)
AI-based games
AR VR games
Knowledge, training and skill-based games
Language learning games
Assessment and evaluation games
Others
End-User Outlook (Revenue, USD Billion; 2019-2030)
Education
Corporate
Government
Consumers
Others
Regional Outlook of the Game Based Learning Market
The global Game Based Learning market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Game Based Learning market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
Browse The Full Game Based Learning Market Report Description, Along With The Tocs And List Of Facts And Figures @ https://www.emergenresearch.com/industry-report/game-based-learning-market
Key reasons to buy the Global Game Based Learning Market report:
The latest report comprehensively studies the global Game Based Learning market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
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