The global gamification market is expected to progress at a steady growth rate over the forecast period. Gamification can be defined as the applications in problem solving where ‘game mechanics’ and ‘game thinking’ are used in non-game scenarios for the purpose of engaging users. This has been studied about and used in the domains for physical exercise, user engagement, timeliness, and learning.
Primary aim of gamification is to target the instinct in human beings which entices performance by way of motivation through novel, rewarding, competitive fun ideas which make it similar to an experience of playing a game. For delivering the setting similar to a game it uses the concepts of badges, points, avatars, levels, ranks, etc. generally used in combination with each other to promote motivation in which an event chain leads from one reward to the other existing on some e-commerce website or on the internet. At the heart of it all gamification is a technique of marketing which when used for the engagement of customers towards a specific brand is called customer gamification and when directed towards employees for strategies regarding the organization is called employee gamification. Consumer gamification increases referrals and purchases whereas employee gamification can work for motivation of employees towards organizational strategies, disciplinary plans, and tasks aiming for decreased attrition and increase in productivity.
The markets for gamification can exist independently but the platforms in which they are played are the same. Every vertical in the industry is adopting gamification and not just the entertainment sector but sectors in retail, education, healthcare, and BFSI are also applying it. The segments in which the gamification market can be divided into are the platforms, service providers, and type of solutions, mobile SDK, and open source platforms. The largest share of the market is taken up by the service providers and platforms. The open source type platforms will grow more. If the market is segmented on the basis of industry verticals then the segments would be as BFSI, media and publishing, healthcare, public sector, consumer goods, and retail. The maximum growth among these segments is expected to take place in the retail segments it has the largest of the gamification market share which would be followed closely by the healthcare and pharmaceutical segment.
The current situation in this gamification market is such that the major challenge being faced by the players in this market is the introduction to the concept of gamifying applications of business processes to new businesses or consumers. However, the rates of success of the firms already implementing gamification will overcome that challenge. Currently, the major providers of gamification services are Badgeville, Comarch, 500Friends, Dopamine, and Gigya.
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Media consumption is expected to witness a substantial increase as a direct consequence of lockdowns enforced in several countries across the globe to combat the spread of the deadly coronavirus. Since consumers are forced to stay at home, they are turning to popular OTT service providers such as Netflix, Amazon Prime, etc. or renewing/enhancing their existing Pay TV packages, procuring IPTV subscriptions, etc. to satiate their entertainment needs. eSports is also another sector which is expected to be favorably impacted by more and more people confined to their homes. The report will account for Covid19 as a key market contributor.