Game-Based Learning Market Size is Expected to Surpass $52.8 Billion by 2030 with CAGR of roughly 19.51% | The Future of Learning: Growing Popularity and Trend Based Analysis

Louisville, KY, April 03, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Game-Based Learning Market By End-User (Government, Enterprises, Consumer, Education, And Others), By Revenue Type (Advertising, Game Purchasing, And Others), By Platform (Offline And Online), By Game Type (AI-Based Games, AR/VR Games, Language Learning Games, Assessment & Evaluation Games, And Training Games), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Game-based Learning Market size & share in terms of revenue was valued at USD 10.9 billion in 2022 and it is expected to surpass around USD 52.8 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 19.51% during the forecast period 2023 to 2030.”

What is Game-based Learning? How big is the Game-based Learning Industry?

Report Overview:

The global game-based learning market size was worth around USD 10.9 Billion in 2022 and is predicted to grow to around USD 52.8 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 19.51% between 2023 and 2030.

Game-based learning is a relatively new and modern education approach that makes use of different types of games including online and offline modes to impart knowledge and conduct training sessions. The recent addition of new technology in the larger educational scheme allows learners to engage better and improve the final outcomes of the experience. The industry revolves around the players that deal with the development, design, production, and distribution of products and services related to game-based learning technology.

It comprises simulations, video games, and other types of learning management systems that are game-oriented and can be used in different types of settings including pre-primary to university level. However, the application of game-based learning systems goes beyond educational programs for students and can be applied in corporate or business settings as well for personnel training and skill development. With the advancements in technology, the game-based learning industry is witnessing a high rate of growth and is expected to continue the same trend in the coming years.

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Global Game-based Learning Market: Growth Factors

The global game-based learning market is projected to grow owing to the increasing demand and preference toward skill development. The teaching community along with students and guardians have realized that working on the development of a specific skill is better for the future of young minds and great emphasis is being laid on the development of technologies that can provide customized or specific learning experiences. Game-based learning tools best fit the modern-age trend. Additionally, the industry is also witnessing immense growth in personalized training since it meets the important set of students' needs and passion thus aligning both the critical components of overall growth in one set. Students tend to incline more toward learning experiences that work in line with their desire for more flexibility. Moreover, the growing popularity of mobile learning may work in the favor of the industry.

The increasing adoption of smartphones and other mobile devices like tablets and laptops is propelling the demand for online or digital education leading to higher adoption of game-based learning platforms. The fraternity players are expected to generate more revenue owing to the surging adoption of the tools and platform in corporate learning programs as well.

However, the game-based learning industry deals with growth restrictions, especially in terms of limited access to new technology owing to its high cost as well as less awareness rate in emerging economies. Game-based learning tools are expensive due to the complexity of the software programs and the demand for high-priced hardware systems. Furthermore, for the smooth functioning of these tools, the educational unit must have appropriate Information Technology (IT) setup or the industry may fail in achieving its intended goal. In addition to this, the existence of resistance to change and technical issues along with a lack of skilled professionals to deal with issues are other factors working against the market expansion trend.

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Report Scope

Game-based Learning Market: Segmentation Analysis

The global game-based learning market is segmented based on end-user, revenue type, platform, game type, and region

Based on end-user, the global market segments are government, enterprises, consumers, education, and others.

Based on revenue type, the game-based learning industry divisions are advertising, game purchasing, and others.

• Game purchasing is expected to witness the highest growth in the industry during the forecast period
• In this revenue model, customers tend to buy the game they wish to invest in and it can either be a one-time payment or based on a subscription, depending on the offerings for the product developer
• In the advertising model, several companies post their advertisements on the platform through which the latter receives revenue for every ad posted. This model is less common in the educational sector due to integrity issues and the constant display of ads can lower the impact of the tool itself
• The annual subscription for Minecraft Education Edition as of 2021 was around USD 5 per user with a minimum purchase of 150 licenses

Based on platform, the global game-based learning market segments are offline and online.

Based on game type, the global market is divided into AI-based games, AR/VR games, language learning games, assessment & evaluation games, and training games.

• Language learning games are the most popular as of recent timeline and their popularity is driven due to their capacity to assist in teaching new language in interactive and immersive ways
• Hence they become more appealing to a larger set of audience
• Assessment and evaluation games work better to understand the skill level developed by the learner after sufficient use of the tool. These tools work best in case there is a need to identify skill gaps and potential room for improvement
• Although subjective, the average time taken to learn professional-level Mandarin is around 2200 hours of study

The global Game-based Learning market is segmented as follows:

By End-User

• Government
• Enterprises
• Consumer
• Education
• Others

By Revenue Type

• Advertising
• Game Purchasing
• Others

By Platform

• Offline
• Online

By Game Type

• AI-Based Games
• AR/VR Games
• Language Learning Games
• Assessment & Evaluation Games
• Training Games

Browse the full “Game-based Learning Market By End-User (Government, Enterprises, Consumer, Education, and Others), By Revenue Type (Advertising, Game Purchasing, and Others), By Platform (Offline and Online), By Game Type (AI-Based Games, AR/VR Games, Language Learning Games, Assessment & Evaluation Games, and Training Games), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/game-based-learning-market

Competitive Landscape

Some of the main competitors dominating the global Game-based Learning market include - 

• Quizlet
• Duolingo
• Classcraft
• Kahoot!
• Udacity
• Minecraft Education Edition
• Learning Games Network
• Edmentum
• BrainPOP
• Legends of Learning
• Nearpod
• Schell Games
• Rosetta Stone
• Coursera
• Prodigy Education
• edX
• TypingClub
• Roblox Education
• Code.org
• Filament Games

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Game-based Learning market is likely to expand at a CAGR of around 19.51% during the forecast period (2023-2030).                  
• In terms of revenue, the Game-based Learning market size was valued at around US$ 10.9 billion in 2022 and is projected to reach US$ 52.8 billion by 2030.
• The game-based learning market is projected to grow at a significant rate due to the growing application of technology in the education sector
• Based on platform segmentation, online was predicted to show maximum market share in the year 2022
• Based on end-user segmentation, education was the leading user in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Game-based Learning industry?
• What are the main driving factors propelling the Game-based Learning Market forward?
• What are the leading companies in the Game-based Learning Industry?
• What segments does the Game-based Learning Market cover?
• How can I receive a free copy of the Game-based Learning Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Revenue Type, By Platform, By Game Type, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global game-based learning market is projected to witness the highest growth in North America with the US and Canada dominating the majority of the regional share. The high CAGR is driven by factors like the existence of established and technologically advanced educational infrastructure, growing investments towards the development of new platforms for different end-user verticals, increasing adoption of the product, tools, or systems for corporate or educational training, and availability of high disposable income to spend on new learning systems. Growth in Europe may be driven by the rising initiatives of the government to upgrade educational programs by utilizing digital systems and tools along with favorable policies promoting skill development. The growing cultural acceptance in Europe may act as a crucial growth propeller.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In January 2022, Microsoft announced a new addition to the Minecraft Education edition in form of a Chemistry update for better learning of chemistry concepts
• In August 2021, the industry witnessed the launch of Legends Connect by Legends of Learning allowing teachers and students to collaborate seamlessly
• In September 2021, Kahoot! announced the launch of Kahoot! Academy where teachers can access upgraded and high-quality content for game-based learning

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/game-based-learning-market

FREQUENTLY ASKED QUESTIONS

• What is the game-based learning?
• Which key factors will influence the game-based learning market growth over 2023-2030?
• What will be the value of the game-based learning market during 2023-2030?
• What will be the CAGR value of the game-based learning market during 2023-2030?
• Which region will contribute notably towards the game-based learning market value?
• Which are the major players leveraging the game-based learning market growth?

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