The emergence of the Gamification Industry
Contemporary scientists strongly believe play is a major part of the human experience. Implementing gaming in business strategy and education gains momentum in recent years and more and more organizations enjoy the benefits.
Global Statistics
The Human Resource sector is expected to register the highest growth rate in the gamification market, having a CAGR of 27.8%. The biggest user of game-based learning solutions is the corporate sector, posting an astounding growth rate of 47.5%.
The gamification market size in 2020 had a global value of $9.1 billion and is predicted to register an impressive CAGR of 27.4% while reaching $30.7 billion by 2025.
In a 2019 to 2024 forecast of game-based learning growth rates for seven regions, Western Europe emerged with the highest growth rate of 47.2%, Eastern Europe followed at 42.2%, Africa 41.3%, the Middle East 36.2%, North America 35.2%, Latin America 30.1%, and the Asia-Pacific 27%
Gamification – Benefits and Risks
The key benefits of gamification are increased customer engagement, reducing banner blindness, and boosting brand awareness. Motivating users by rewarding them with special features, will make conversion rates skyrocket.
Gamification can be viewed as manipulative or exploitative. The customers or employees may become disheartened and skeptical if gamification motives are overt or perceived maniacal. Consumers may grow to resent the brand and products if they feel that the gamification practices are scheming.
Data Sources: Technology Advice, Finances Online, Review42
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