The corporate sector is showing a high preference for level progress monitoring solutions to improve engagement with customers and enhance the performance of employees. To achieve these goals, enterprises around the world are adopting gamification solutions as they allow organizations to monitor and improve the performance of their employees by observing activity feeds, in-house competitions, and progress bars of gaming platforms. Thus, the rising focus of business entities on level progress monitoring will facilitate the usage of gamification solutions in the upcoming years.
Additionally, the increasing integration of social media with gaming platforms will propel the gamification market at a vigorous CAGR of 24.2% between 2020 and 2030. According to P&S Intelligence, the market revenue stood at $7,841.5 million in 2019 and it will reach $76,298.9 million by 2030. In contemporary years, enterprises are increasingly adopting machine learning (ML) technology-based gamification solutions to study the success rate of such solutions. Additionally, business entities are also using advanced business intelligence (BI) tools to extract information on customer behavior for better output.
At present, the needs of the aforementioned end users are being met by Indusgeeks USA Inc., Microsoft Corporation, MPS Interactive Systems Limited, Ikipixel Information Technologies Inc. (Motivacraft), Torry Harris Business Solutions Private Limited, SAP SE, Diantum Sociedad Limitada, Juego Studio Private Limited, MJV Technology and Innovation, CRMGamified, Axonify Inc., Salesforce.com Inc., and XLPro Training Solutions Pvt. Ltd. In recent years, these gamification companies have emphasized product portfolio expansions to cater to the evolving needs of customers.
Globally, the North American region led the gamification market in the recent past, and it is expected to maintain the same trend in the foreseeable future as well. The dominance can be ascribed to the mounting investments being made in the IT industry, the surging need for AI-enabled gamification solutions, and the soaring number of gamification startups in Canada and the U.S. The increasing use of gamification solutions in North America can also be credited to the enormous focus of enterprises on improving their employee performance and customer engagement and early penetration of advanced technologies.
Furthermore, the Asia-Pacific (APAC) region is expected to witness a largescale adoption of gamification solutions in the upcoming years, on account of the growing penetration of smartphones and accelerating digitization rate in regional countries. Moreover, the mounting focus of business entities on enhancing employee performance and improving customer engagement will also result in the widescale adoption of gamification solutions in the region. Additionally, the escalating IT investments will also encourage the adoption of such solutions in China, Japan, Australia, South Korea, and India.
Therefore, the surging need for level progress monitoring solutions and the rising integration of social media with gaming platforms will propel the usage of gamification solutions in the forthcoming years.