Chicago, June 07, 2022 (GLOBE NEWSWIRE) — According to a research report “Game-based Learning Market by component (solution and services), game type, deployment mode (on-premises and cloud), end user (education, government, consumer and enterprise) and region – Global forecast to 2026″, published by MarketsandMarkets™, the game-based learning market size is expected to grow from USD 11.0 billion in 2021 to USD 29.7 billion by 2026, at a compound annual growth rate (CAGR) of 21. 9% over the forecast period.
Game-based learnings, such as AR VR games, AI-based games, location-based games, assessment and assessment games, training-based games, knowledge and skills , language learning games create modules, assessments, quizzes for math subjects, physics, chemistry organizations etc. use these game-based learning techniques because of ease of learning, problem solving, time saving, cost effectiveness, and learning demand for immediate performance feedback. This learning platform is used to learn any subject, in any game, in any language, on any device for all ages.
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Game-based learning solutions are deployed on-premises or in the cloud. The adoption of cloud-based solutions is gaining tremendous popularity as they are more scalable and do not require high costs compared to on-premises solution. According to a survey conducted by DigitalChalk in 2018, almost 80% of learners said that they would be more productive if their university/institution or job was more like a game. According to the survey conducted by TalentLMS in 2019, 33% of respondents would like more fun features in their employee training software; around 83% of those who receive gamified training felt motivated. In this method of deployment, all information is stored on company premises.
Scope of the Game Based Learning Market Report:
|Market size available for years||2020-2026|
|Base year considered||2020|
|Forecast units||Value (USD million)|
|Fastest growing region||North America|
|Forecast CAGR 2022-2026||21.9%|
|Segments Covered||Component, game type, deployment mode, end user and region|
|Regions covered||North America, Europe, APAC, MEA and Latin America|
|Companies covered||Kahoot (Norway) Frontier Developments (UK), Minecraft (Sweden), Spin Master (Canada), Bublar Group (Sweden), BreakAway games (USA), Gamelearn (Spain), Recurrence (USA), Schell Games (US), Stratbeans (India), Tangible Play (US), Simulearn (US), Playgen (UK), Raptivity (US), Banzai Labs (US), Cognitive Toybox (US), Fundamentor (India), Idnusgeeks (India), Kuato Studios (UK), Monkimun (US), Smart Lumies (US), G-Cube (India), Hornbill FX ( India), Infinite Dreams (Poland), Layup (Sri Lanka), MLevel (USA), Quodeck (India), Threatgen (USA), Gametize (Singapore), Sweetrush (USA), Kidoz (USA), States) and VR Education Holdings (Ireland).|
Companies have added gameplay to their learning and development (L&D) programs to benefit from increased employee engagement and performance. Innovations in AR, VR, robotics, location-based intelligence, AI have made extraordinary progress. Suppliers sell packaged pre-employment games for learning soft skills and languages. They provide custom game development services for vertical skills (coding) and license the platform for internal use. Several online marketplaces sell digital 3D models, VR environments, and pre-trained AI models. 3D animation is an automated real-time deep learning technique. Companies such as Walmart, Agco, Bosch and Boeing are currently using AR for corporate training. Only gamification or learning does not create engagement. AR is a feature that makes the actual training easier. It fits perfectly into scenario-based training. He talks to employees, interacts with customers, understands the social environment. Apple ARKit, in the hands of skilled AR and VR developers, has already yielded amazing results. Apple’s ARKit 3 is developer-friendly software used to create amazing AR-based content with relative ease. KFC designed an employee training program with a VR simulator. Some popular location-based games, such as Ingress Prime, Zombies Run, Landlord, Geocaching, help increase engagement efficiency. Location-based services are most likely to increase mobile app traffic by 3-4x. Language learning games help improve vocabulary, pronunciation and grammar. Some of the language learning games are Pictionary, Taboo, Stop, Hangman, Spiderweb, Word Jumble, Charades, Translate the Song, and Hot Seat. These games help improve speaking, listening and memory skills and encourage the learner’s creativity, speaking and attentiveness. Language games help to learn and teach foreign languages and practice communication skills. Over 15 online games and exercises are available to teach popular languages, words, spelling and grammar, which can be used for fun and interactive education and review.
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The game-based learning market, by end user, has been segmented into consumer, education, government, and enterprise. The corporate segment has been sub-segmented into BFSI, Manufacturing, Healthcare & Life Sciences, IT & Telecommunications, Consumer Goods & Retail, and Other, which includes Energy & Utilities, Media and entertainment, transport and logistics. Currently, around 35% of the millennial workforce works in manufacturing. Game-based training has proven extremely beneficial to some manufacturing giants who have experimented with and adopted serious games as a methodology for training their employees. IT industry has created a great change in game-based learning market. AR, VR, cloud gaming, virtual teammates, graphics, portability have increased the market growth of game-based learning market HR industries use game-based learning in learning and development, as well as in training and development. The healthcare sector uses this technology for training purposes. The World Bank EdTech team guided individual topics on education technology.
The game-based learning market in North America, Europe, APAC, MEA and Latin America. The presence of key players, such as Hornbill FX, G-Cube, Indugeeks, and Fundamentor, is helping the market grow. The increasing number of 5G infrastructure development initiatives in the region is driving the growth of the market. APAC includes countries with the largest education systems in the world. China and India can be considered countries with the top three education systems in terms of students. These are the main driving factors in the APAC region. North America is the largest market for serious games, cloud games and game-based learning. The United States government continuously supports the market for game-based learning and serious games using training in the military and health sector. Major players are investing heavily in game-based learning. Active support from private foundations for game-based learning projects. Canada is focusing on a long-term infrastructure plan, as its IT spending (about 88 billion USD) were high in 2019. The United States is technologically progressive, with a high level of awareness of innovation processes in industries and disruptive technologies, such as AI, cloud, 5G and storage in periphery. The United States is the most mature market in terms of adopting game-based learning solutions. Most higher education institutions in the country have implemented game-based learning for educational processes. Game-based learning companies have significant leeway to expand their business in the United States, as universities are expected to plan upgrades to existing learning systems.
The game-based learning market is dominated by companies such as Kahoot (Norway) Frontier Developments (UK), Minecraft (Sweden), Spin Master (Canada), Bublar Group (Sweden), BreakAway games (USA), Gamelearn (Spain), Recurrence (US), Schell Games (US), Stratbeans (India), Tangible Play (US), Simulearn (US), Playgen (UK), Raptivity (US), Banzai Labs (US), Cognitive Toybox (US), Fundamentor (India), Idnusgeeks (India), Kuato Studios (UK), Monkimun (US), Smart Lumies (US), G-Cube (India), Hornbill FX (India), Infinite Dreams (Poland), Layup (Sri Lanka), MLevel (USA), Quodeck (India), Threatgen (USA), Gametize (Singapore), Sweetrush (USA), United States), Kidoz (United States) and VR Education Holdings (Ireland).
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