Game-Based Learning Market: Global Industry Forecast (2023-2029)

Game-Based Learning Market was valued at US$ 13.03 Bn. in 2022 and the total Game-Based Learning revenue is expected to grow at 20.8% from 2023 to 2029, reaching nearly US$ 48.92 Bn.
Game-Based Learning Market Overview:
Game-based learning refers to the application of specific game elements in real-life contexts to engage people. Game-based learning's motivating psychology enables students to interact with instructional resources entertainingly and dynamically. Game-based learning is more than simply making games for students to play; it is also about constructing learning activities that may gradually introduce concepts and direct users toward a common objective. Traditional games might include elements such as competition, points, rewards, and feedback loops. As a means of engaging students in studying, these notions have grown in popularity in higher education and libraries.

Gamification and game-based learning have been popular in a variety of situations, including business training, education, and social media. Many individuals, whether they are aware of it or not, have been exposed to game-based engagement strategies in some way or another. Teachers are learning to integrate digital learning tools in the classroom as the world changes. Furthermore, most teaching degree programmes assist educators in keeping up with fast-changing technological innovations in education. This implies that educators are looking for fresh, interactive instructional content, such as game-based learning, with careful consideration.
Game-Based Learning Market Report Scope:
The Game-Based Learning market is segmented based on Component, Game Type, Deployment Mode, End-User and Region. The growth of various segments helps report users in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

A bottom-up approach has been used to estimate the market size. Key Players in the Game-Based Learning market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Game-Based Learning market include Kahoot, Frontier Developments and Minecraft.

The report is not only a representation of global players but also covers the market holding of local players in each country. Market structure by country with market holding by market leaders, market followers, and local players make this report a comprehensive and insightful industry outlook. The report has covered the mergers and acquisitions, strategic alliances, joint ventures, and partnerships happening in the market by region, by investment, and their strategic intent.To know about the Research Methodology :- Request Free Sample Report
Game-Based Learning Market Dynamics:
Growing demand for conformational feedback:

Conformational feedback is a sort of feedback that is widely used to promote learning in games and game-based learning. Conformational feedback is designed to show how "correct" or "wrong" a reaction, action, or activity is. Feedback informs the learner quickly if she/he did the right thing, the incorrect thing, or something in between, but it does not instruct the learner on how to fix the activity. In addition to delivering the correct answer, explanatory feedback adds pertinent information about why an answer is correct.

Explanatory feedback describes why the correct responses were selected. This sort of feedback gives the learner a rich explanation in the belief that the explanation given at the precise time of erroneously behaving or attempting to recollect information enables good knowledge encoding. Feedback constantly inspires students to progress.

Adequate security is essential for phishing attempts in game-based learning:

Cybercrime is getting more prevalent, and the number of Internet-connected devices, such as smartphones, is increasing. Smartphones are rapidly being used for a wide range of activities such as Internet surfing, gaming, social networking, online banking, and email. Smartphone email app usage has surged by 150% in the previous three years. Also, approximately 2.3 billion banking consumers are expected to control their current accounts via mobile devices. A cyber-attack simulation operates on the same premise: the organisation may evaluate its response times and defences without causing any harm. Based on the findings, it will be able to analyse and improve the areas where its policies and abilities are weak.

Organizations are allocating enormous efforts to solving this issue and maintaining the security of their networks and infrastructure. Despite this, in 2017, 85% of big organisations and 75% of small and medium-sized businesses reported a security breach. Phishing attacks continue to be one of the most severe dangers to network investments. Worryingly, the rate of staff spear-phishing campaigns grew by 60% in 2017. Because the assault rates are so high, businesses must build a solid infrastructure to support game-based learning apps.

A major growth prospect in the market is that student retention and engagement are in high demand:

Students are encouraged to study by playing games that teach them about a concept or subject. These exercises help students grasp and comprehend the subject, as well as retain it. Learning games also promote a better grasp of topics, giving students an additional opportunity to learn more about a subject and assimilate the knowledge completely. Playing educational games with friends might help establish deeper ties. A collaborative learning game allows students and teams to work together to attain a common objective. Students may acquire and practise crucial life skills like collaboration and cooperation as a result of this.

The usage of game-based learning tools and platforms can help these skill sets grow. Collaboration in game-based learning, therefore, enhances not just social skills but also helps students learn more efficiently. In the workplace, collaborative learning is frequent. Students who participate in online games become members of a community in which they may apply and share their expertise. They concentrate on how to attain goals as a group rather than as individuals through cooperating.
Game-Based Learning Market Segment Analysis:
By Game Type, the AR VR games segment is expected to grow at a CAGR of 8.3% during the forecast period. 3D animation is a real-time deep-learning approach that is automated. Companies including Walmart, Agco, Bosch, and Boeing are now embracing augmented reality for corporate training. Only game-based or eLearning may generate engagement. AR is a feature that helps with training. AR is ideal for scenario-based training since it converses with employees, engages with clients, and comprehends the social context. Apple ARKit, which is utilised by AR and VR developers, has already produced some astonishing outcomes. Apple's ARKit 3 is an AR developer-friendly programme that allows users to easily build stunning AR-based content. KFC has created an employee training programme that includes a VR simulator.

Extended Reality makes it possible to create a richly immersive environment that increases gameplay and game-based learning. It encourages interaction and engagement by superimposing a virtual setting within a real-life one, resulting in a strong consumer relationship. Although these technologies have yet to have a significant influence on the e-learning business, the ongoing rise of global AR and VR marketplaces is optimistic. Also, rising investment in AR and VR implies that the e-learning business has substantial future growth potential. By 2025, Goldman Sachs estimates that over USD 700 million are expected to be invested in AR/VR applications in education.

By End-User, the enterprises segment is expected to grow at a CAGR of 7.3% during the forecast period. Employee performance goals are established through enterprise game-based learning and can be tied to business objectives. When someone observes their performance in the game, they know it is objective, implying that it is, therefore "fair." As a result, game-based learning promotes organisational transparency and alignment with company goals. This impacts both the culture and the way performance is managed. Employees may see their objectives in real-time and know how they are performing, allowing them to self-correct instead of a once-a-year review in which they are presented with stale goals from the previous year.

Game-based learning allows for quick feedback. Employees in their twenties are impatient to receive quarterly feedback. They expect immediate input when it is relevant. Unlockable achievements, for example, give employees with immediate feedback anytime they do a favourable action. Like evaluations, badges can be applied to specific pieces of information. Receiving a bright new badge straight immediately motivates the employee to learn.
Game-Based Learning Market Regional Insights:
In terms of end-user adoption of the game-based learning system, North America has been a highly open and competitive industry. It is the most advanced region in terms of implementing based learning solutions. It has been particularly responsive in terms of incorporating the most recent technology breakthroughs, such as integrating AI, cloud, and mobile technologies with traditional-based learning solutions. The tough government standards and regulations created for numerous businesses are a primary economic factor for this region. As a result of the COVID-19 outbreak, US firms have made significant investments in eLearning technology, game-based learning, and gamification, as schools, colleges, and institutions were closed.

According to the Institute of International Education's report 'COVID-19 Effects on US Higher Education Campuses from Emergency Response to Planning for Future Student Mobility,' 96% of on-campus events were cancelled, 91% of campus buildings and offices were closed, and 82% of international student travel was cancelled during this pandemic situation. There is a sizable market in North America for e-learning, gamification, game-based learning, education technology, and other related technologies. The market in North America is expected to grow at a CAGR of 6.8% over the forecast period. The region's high adoption of modern technologies, as well as the existence of significant players, are expected to present the market with ample growth prospects.
Game-Based Learning Market Scope: Inquiry Before Buying



Game-Based Learning Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 13.03 Bn.


Forecast Period 2023 to 2029 CAGR:
20.8%
Market Size in 2029:
US $ 48.92 Bn.


 Segments Covered:
by Component
• Solution
• Services


by Game Type
• AR VR games
• AI-based games
• Location-based games
• Assessment and evaluation games
• Training, knowledge and skill-based games
• Language learning games
• Others


by Deployment Mode
• Cloud
• On-premises


by Platform
• Online
• Offline


by End-User
• Consumer
• Education
• Government
• Enterprises
• Other



Game-Based Learning Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Game-Based Learning Market, Key Players are:
• Kahoot
• Frontier Developments
• Minecraft
• Spin Master
• Bublar Group
• BreakAway games
• Gamelearn
• Recurrence
• Schell Games
• Stratbeans
• Tangible Play
• Simulearn
• Playgen
• Raptivity
• Banzai Labs
• Cognitive Toybox
• Fundamentor
• Idnusgeeks
• Kuato Studios
• Monkimun
• Smart Lumies
• G-Cube
• Hornbill FX
• Infinite Dreams
• Layup
• MLevel
• Quodeck
• Threatgen
• Gametize
• Sweetrush
• Kidoz,
• VR Education Holdings

FAQs:

1. Which region is expected to dominate the Game-Based Learning Market at the end of the forecast period?
Ans. Asia Pacific is expected to dominate the Game-Based Learning market at the end of the forecast period.

2. What is the growth rate of the North America Game-Based Learning Market?
Ans. North America Game-Based Learning Market is expected to grow at a CAGR of 6.8% during the forecast period.

3. What is expected to drive the growth of the Game-Based Learning Market in the forecast period?
Ans. Growing demand for conformational feedback is expected to drive the Game-Based Learning Market growth during the forecast period

4. What is the projected market size & growth rate of the Game-Based Learning Market?
Ans. Game-Based Learning Market was valued at US$ 13.03 Bn. in 2022 and the total Game-Based Learning revenue is expected to grow at 20.8% from 2023 to 2029, reaching nearly US$ 48.92 Bn.

5. What segments are covered in the Game-Based Learning Market report?
Ans. The segments covered are Component, Game Type, Deployment Mode, Platform, End-User and Region.