Gamification Market to be Worth $11.10 Billion by 2020
According to a new market research report "Gamification Market by Solution (Consumer driven and Enterprise driven), Applications (Sales and Marketing), Deployment Type (On-Premises and Cloud), User Type (Large Enterprise, SMBs), Industry and Region - Global Forecast to 2020", published by MarketsandMarkets, The Gamification Market is expected to reach USD 11.10 Billion by 2020, at a CAGR of 46.3%.
Today, there has been a high growth of gamification solutions among small and medium enterprises in various industry verticals due to increasing need for gamification solutions and applications in enterprise and consumer brands. Global enterprises and brands that sell consumer goods have awakened to the fact that consumers and employees have plenty of choices around. While lower motivation levels in employees raise the problem of high attrition rates, results in consumers switching brands, resulting in a loss of prospective leads for the brand. Gamified applications can help to cut through the competition and align the motivation of the employees and the interest levels of consumers to derive the desired actions and results from them.
The rise in the adoption of consumer driven solutions among organizations has increased the usage gamification solutions
Gamification solutions are gaining pace in the current scenario of engagement and loyalty ecosystem. The Gamification Market has been segmented into consumer driven solutions and enterprise driven solutions. Consumer driven solutions are termed as flexible and user-friendly tools that are focused on augmenting customer motivation as well as customer loyalty towards product across all industries. Companies are using various gamification techniques for their customers such as loyalty points, discounts, and virtual currency to encourage them to be loyal to the brand.
The growth of cloud as deployment type is driving the Gamification Market among small and medium businesses (SMBs)
The increasing usage of internet along with the high adoption of innovative technologies such as web, mobile, and social media has supplemented the growth of cloud-based gamification techniques. Organizations are demanding enterprise- and consumer-based gamification solutions to encourage employees and to fortify their marketing endeavors. The presence of these gamification solutions on cloud helps SMBs to adopt these gamification techniques without increasing their budgets.
North America is expected to adopt gamification techniques significantly in 2015
The North American region has been a predominately receptive market toward the adoption of gamification solutions. The high adoption of customer-based solutions and enterprise-based solutions are driving the Gamification Market in North America. Moreover in this region, countries such as the U.S. and Canada are adopting gamification solutions to enrich their marketing activities with better advertising, customer interaction, and branding.
The Gamification Market is consolidated with big players such as Microsoft, SAP, and Salesforce. There is also a significant presence of small players such as Gamify, Gigya, and foursquare in this market. The report also describes the top gamification vendors such as Badgeville, Bigdoor Media, and Bunchball that also have a presence in major regions.
The Gamification Market is segmented by region into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America; by deployment type as on-premises and cloud; by industry vertical as retail and consumer goods, entertainment, healthcare, e-commerce, media and publishing, BFSI, education, travel and logistics, government, and others. This report analyzes the global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the market. The report also examines the growth potential, market sizes, and revenue forecasts across different regions as well as user segments.
Today, there has been a high growth of gamification solutions among small and medium enterprises in various industry verticals due to increasing need for gamification solutions and applications in enterprise and consumer brands. Global enterprises and brands that sell consumer goods have awakened to the fact that consumers and employees have plenty of choices around. While lower motivation levels in employees raise the problem of high attrition rates, results in consumers switching brands, resulting in a loss of prospective leads for the brand. Gamified applications can help to cut through the competition and align the motivation of the employees and the interest levels of consumers to derive the desired actions and results from them.
The rise in the adoption of consumer driven solutions among organizations has increased the usage gamification solutions
Gamification solutions are gaining pace in the current scenario of engagement and loyalty ecosystem. The Gamification Market has been segmented into consumer driven solutions and enterprise driven solutions. Consumer driven solutions are termed as flexible and user-friendly tools that are focused on augmenting customer motivation as well as customer loyalty towards product across all industries. Companies are using various gamification techniques for their customers such as loyalty points, discounts, and virtual currency to encourage them to be loyal to the brand.
The growth of cloud as deployment type is driving the Gamification Market among small and medium businesses (SMBs)
The increasing usage of internet along with the high adoption of innovative technologies such as web, mobile, and social media has supplemented the growth of cloud-based gamification techniques. Organizations are demanding enterprise- and consumer-based gamification solutions to encourage employees and to fortify their marketing endeavors. The presence of these gamification solutions on cloud helps SMBs to adopt these gamification techniques without increasing their budgets.
North America is expected to adopt gamification techniques significantly in 2015
The North American region has been a predominately receptive market toward the adoption of gamification solutions. The high adoption of customer-based solutions and enterprise-based solutions are driving the Gamification Market in North America. Moreover in this region, countries such as the U.S. and Canada are adopting gamification solutions to enrich their marketing activities with better advertising, customer interaction, and branding.
The Gamification Market is consolidated with big players such as Microsoft, SAP, and Salesforce. There is also a significant presence of small players such as Gamify, Gigya, and foursquare in this market. The report also describes the top gamification vendors such as Badgeville, Bigdoor Media, and Bunchball that also have a presence in major regions.
The Gamification Market is segmented by region into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America; by deployment type as on-premises and cloud; by industry vertical as retail and consumer goods, entertainment, healthcare, e-commerce, media and publishing, BFSI, education, travel and logistics, government, and others. This report analyzes the global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the market. The report also examines the growth potential, market sizes, and revenue forecasts across different regions as well as user segments.