Gamification Market Size, Share, Key Players, Growth and Demand by 2023

The global gamification market is growing at a CAGR of 41.8% during 2018-2022 and will reach $22.9 billion by 2022. North America had been the leader in worldwide gamification market, however, its share is expected to decrease amid the forecast period because of expanding share of the developing regions. The share of Asia-Pacific is expected to rise and the region is likely to witness the highest CAGR by 2022.

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There are a few gamification technologies and strategies of customer engagement, including level progress, points and scores, real time performance feedback, progress bars, activity feeds, competition with friends, virtual gifts, being part of story, avatars, and virtual currencies. According to the report, around 30% of the gaming participants are seen to incline towards level progress, among all gamification strategies. Level progress alludes to crossing the trouble levels to achieve the following level.

The display gadgets, such as laptops, tablets and smartphones, are the mediums that connect the gamification technology to its target audiences. The increasing penetration of such gadgets is consequently driving the growth of gamification market. The automotive manufacturer Ford offers reward points, if the user reaches certain level in their MyFord Mobile application.

The masses in Southeast Asia have high level of digital excitement and they speedily get digital fervour. Right around half of the web users in Southeast Asia play games online consistently. The growing masses of Asia-Pacific and the energy of the people in the area towards gaming is expected to influence openings in the gamification market.

Some of the major players in this market include Badgeville Inc., Gigya Inc., Bunchball Inc., Kuato Studios, SAP SE, Cisco Systems Inc., Microsoft Corporation, BigDoor Inc., Knewton and Lithium Technologies Inc.

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