Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "Game-Based Learning Market with COVID-19 Impact, by Component (Solution and Services), Game Type, Deployment Mode (On-premises and Cloud), End User (Education, Governments, Consumers, and Enterprises) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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%
Game-based learning market is rapidly gaining acceptance worldwide by schools, colleges, institutions, corporates. It helps to engage learners, motivate them are provide feedbacks.
The service segment is expected to grow at a higher rate during the forecast period
Service providers offer continuous support and maintenance sessions to users, as and when needed, to resolve business complexities. They also support organizations by helping them gain the expertise required for operating the newly adopted solution. With support and maintenance services, users get a thorough idea about systematic procedures related to the deployed solution.
Service vendors provide online, as well as onsite support and maintenance, to users so that they can use the deployed solution in a better way. Support services are crucial, as they directly deal with customer issues, which, in turn, impacts customer satisfaction.
The AI-based games segment is expected to grow at a higher rate 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 eLearning does not create engagement.
AR is a feature that aids with the actual training. AR fits perfectly into scenario-based training, it talks to employee, interacts with clients, and understands the social surrounding. The Apple ARKit used by AR and VR developers has already yielded some amazing results. Apple's ARKit 3 is an AR developer friendly software to create amazing AR-based content with relative ease. KFC has designed and employee training program with VR simulator.
Among enterprises, the consumer good and retail segment is expected to grow at the highest rate during the forecast period The intense competition in Fast-Moving Consumer Goods (FMCG), eCommerce, and retail has led to the growth of the consumer goods and retails vertical of the game-based learning market.
There is a growing demand for new, enhanced, and customized products from consumers for better customer experience. The retailers function in a complex marketplace driven by technological developments, increasing competition, brand distinction, price pressure, dynamic regulatory environment, and changing customer demand. Retailers have become more customer-centric Retailers need to forge customer relations by offering advanced and more superior services, a distinguished variety of goods, along with more pleasing purchase experiences, through diverse channels.
This has increased the workload of employees as they have to keep themselves updated with every new product that customer demands. This vertical is expected to grow at the highest growth rate during the forecast period and major companies are adopting game-based learning solution. For instance, Coca-Cola had used a videogame to train hundreds of distributors and provide innovative, effective, and different training.
North America to dominate the game-based learning market in 2022
The North American region has been a predominately receptive market toward the adoption of game-based learning solution. There has been an expansive usage of the internet to connect with various channel partners and clients among enterprises. The high adoption of customer-based solution and enterprise-based solution are driving the game-based learning market in North America.
Moreover, in this region, countries such as the US and Canada are adopting game-based learning solution to enrich their marketing activities. Furthermore, the rising demand for game-based learning solution among enterprises due to its low implementation cost has helped the game-based learning market to grow at a significant pace. The game-based learning market in North America is contributing a large portion of revenue as compared to the other regions.
Premium Insights
- Need for Increased Learner Engagement Driving the Market Growth
- Solution Segment to Account for a Larger Market Share by 2026
- Assessment and Evaluation Games Segment to Account for the Largest Market Share by 2026
- Cloud Segment to Account for a Larger Market Share by 2026
- Enterprises Segment to Account for the Largest Market Share by 2026
- Healthcare and Lifesciences Segment to Account for the Largest Market Share by 2026
- Europe to Emerge as the Best Market for Investments in the Next Five Years
Market Dynamics
Drivers
- Ownership of Young Learners and User Engagement in Learning
- Growing Demand for Training, Presentation, and Meetings Among Corporates and Education Institutes
- Ease of Learning, Problem-Solving, Time-Saving, and Cost-Effective
- Demand for Immediate Feedback on Performance
Restraints
- Need for High Security and Cybersecurity from Game-Based Learning
Opportunities
- Increased Demand for Ar, Vr, and Ai for Learning
- Building an Emotional Connection in Learning and Subject Matter
Challenges
- Game-Based Learning Modules with Existing Lms
- Game Design with Learning Objectives
- Cultural Barriers with Parents and Faculties
- Availability of It Infrastructure in Schools and Colleges, Problems in Access Internet, and Lack of Financial Support
Case Study Analysis
- Use Case 1: Automobile
- Use Case 2: Education
- Use Case 3: Healthcare
Ecosystem
Supply Chain Analysis
Pricing Analysis
Patent Analysis
- Number of Patents Documents Published
- Top Five Patent Owners (Global)
- Top Ten Patent Owners
Technological Analysis
- Cloud Computing
- Artificial Intelligence and Machine Learning
- Augmented Reality and Virtual Reality
Porter's Five Forces Analysis
COVID-19 Driven Market Dynamics
Regulations
Company Profiles
- Kahoot!
- Frontier Developments
- Spin Master
- Bublar Group
- Minecraft
- Breakaway Games
- Gamelearn
- Recurrence
- Schell Games
- Stratbeans
- Tangible Play
- Simulearn
- Playgen
- Raptivity
- Kidoz
- Vr Education Holdings
- Banzai Labs
- Cognitive Toybox
- Fundamentor
- Indusgeeks
- Kuato Studios
- Monkimun
- Smart Lumies
- G-Cube
- Hornbill Fx
- Infinite Dreams
- Layup
- Mlevel
- Quodeck
- Threatgen
- Gametize
- Sweetrush
For more information about this report visit https://www.researchandmarkets.com/r/nto7l8
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