Portland, OR , Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global game-based learning market generated $16.2 billion in 2021, and is expected to reach $79.9 billion by 2031, registering a CAGR of 17.4% from 2022 to 2031. The report offers an in-depth analysis of changing market trends, key segments, competitive scenario, value chain, and the impact of the Covid-19 pandemic. This research provides a detailed guidance to market players, investors, stakeholders, and startups in devising strategies for achieving a long-term growth and gaining competitive edge across the global market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $16.2 billion |
| Market Size in 2031 | $79.9 billion |
| CAGR | 17.4% |
| No. of Pages in Report | 352 |
| Segments covered | Component, Deployment Model, Game Type, Industry Vertical, and Region. |
| Drivers | Technological advancements in the gaming sector such as artificial intelligence (AI) and augmented reality (AR) |
| Availability of 5G and emergence of unlimited data plans | |
| Opportunities | Increase in smartphones and internet penetration globally |
| The advent of cloud deployment for games-based learning solutions | |
| Restrains | High cost of implementation of games-based learning solutions |
Covid-19 Scenario:
- Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions implemented by governments during the Covid-19 pandemic. This led to increase in development and adoption of game-based learning models worldwide.
- With emergence of innovative e-learning models, game-based learning became one of the leading models adopted across the globe. This, in turn, made a positive impact on the overall revenue of the market.
- The U.S., China, Italy, and other developed countries were one of the first adopting countries for game-based education courses along with teaching methodologies. Many countries followed the adoption.
- The investments in game-based learning technologies and institutes surged considerably during the pandemic to provide various methods of teaching and make a mark.
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The research provides detailed segmentation of the global game-based learning market based on component, deployment model, game type, industry vertical, and region. The research analyzes their sub-segments to determine fastest growing and highest revenue generating segments for market players and new entrants. Market size and estimations for each segment and sub-segment are offered in the report to determine the steps to be taken in the coming years.
Based on component, the solution segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 18.7% from 2022 to 2031.
Based on deployment model, the on premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global game-based learning market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 18.3% from 2022 to 2031.
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Based on game type, the training, knowledge and skill based games segment contributed to the highest share in 2021, holding more than one-fifth of the global market. However, the language learning games segment is expected to dominate in 2031. Also, the AI-based games segment is estimated to grow at the highest CAGR of 21.6% during the forecast period.
Based on industry vertical, the enterprises segment accounted for the largest share in 2021, contributing to nearly one-third of the global game-based learning industry share. However, education is projected to maintain its dominance in terms of revenue in 2031. In addition, the same segment is expected to manifest the fastest CAGR of 20.0% during the forecast period. The report also analyzes the segments including consumer, education, and government.
Based on region, North America segment accounted for the highest share in 2021, holding more than one-third of the global market, and is expected to dominate by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 19.2% during the forecast period.
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Leading market players of the global game-based learning market analyzed in the research include Cisco Systems Inc., Duolingo, Hurix Digital, Learning Pool, StratBeans Consulting Pvt. Ltd., ELM Learning, Centrical, Cognitive Toybox Inc., G-cube, Gametize, EI Design Pvt. Ltd., Allen Communication Learning Services, Learnbrite, Schell Games, Filament Games, and Toolwire Spaces Learning and Performance Development Group. Product portfolio, business performance, and key development and moves are highlighted in the report for these market players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
