Game-Based Learning Market
More smartphone users, improvements in mobile internet infrastructure & mobile hardware contribute to the growth of the Game-Based Learning Industry.
PORTLAND, PORTLAND, OR, UNITED STATES, May 5, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global game-based learning market generated $16.2 billion in 2021, and is expected to reach $79.9 billion by 2031, registering a CAGR of 17.4% from 2022 to 2031. The report offers an in-depth analysis of changing market trends, key segments, competitive scenarios, value chains, and the impact of the Covid-19 pandemic.
This research provides detailed guidance to market players, investors, stakeholders, and startups in devising strategies for achieving long-term growth and gaining a competitive edge across the global market.
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Technological advancements in the gaming sector such as artificial intelligence (AI) and augmented reality (AR) and availability of 5G and the emergence of unlimited data plans drive the growth of the global game-based learning market.
The North America segment accounted for the highest share in 2021 and is expected to dominate by 2031. Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions during the Covid-19 pandemic.
Leading market players of the global game-based learning market analyzed in the research include Cisco Systems Inc., Duolingo, Hurix Digital, Learning Pool, StratBeans Consulting Pvt. Ltd., ELM Learning, Centrical, Cognitive Toybox Inc., G-cube, Gametize, EI Design Pvt. Ltd., Allen Communication Learning Services, Learnbrite, Schell Games, Filament Games, and Toolwire Spaces Learning and Performance Development Group. The product portfolio, business performance, and key development and moves are highlighted in the report for these market players.
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Covid-19 Scenario:
• Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions implemented by governments during the Covid-19 pandemic. This led to an increase in the development and adoption of game-based learning models worldwide.
• With the emergence of innovative e-learning models, game-based learning became one of the leading models adopted across the globe. This, in turn, made a positive impact on the overall revenue of the market.
• The U.S., China, Italy, and other developed countries were one of the first adopting countries for game-based education courses along with teaching methodologies. Many countries followed the adoption.
• The Investments in game-based learning technologies and institutes surged considerably during the pandemic to provide various methods of teaching and make a mark.
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The research provides detailed segmentation of the global game-based learning market based on component, deployment model, game type, industry vertical, and region. The research analyzes their sub-segments to determine the fastest-growing and highest revenue-generating segments for market players and new entrants. Market size and estimations for each segment and sub-segment are offered in the report to determine the steps to be taken in the coming years.
Based on game type, the training, knowledge and skill-based games segment contributed to the highest share in 2021, holding more than one-fifth of the global market. However, the language-learning games segment is expected to dominate in 2031. Also, the AI-based games segment is estimated to grow at the highest CAGR of 21.6% during the forecast period.
Based on industry verticals, the enterprise’s segment accounted for the largest share in 2021, contributing to nearly one-third of the global game-based learning industry share. However, education is projected to maintain its dominance in terms of revenue in 2031. In addition, the same segment is expected to manifest the fastest CAGR of 20.0% during the forecast period. The report also analyzes the segments including consumer, education, and government.
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Based on region, the North American segment accounted for the highest share in 2021, holding more than one-third of the global market, and is expected to dominate by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 19.2% during the forecast period.
Based on components, the solution segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 18.7% from 2022 to 2031.
Based on the deployment model, the on-premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global game-based learning market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 18.3% from 2022 to 2031.
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