According to a new report published by UnivDatos, the Game Based Learning Market was valued at more than USD 13 billion in 2020 and is expected to grow at a CAGR of around 21% from 2022-2028. The analysis has been segmented into Component (Solutions and Services); Deployment (On-Premises and Deployment); End-User (Education, Consumer, Enterprises, and Governments) Region/Country.
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The game-based learning market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the game-based learning market. The game-based learning market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the game-based learning market at the global and regional levels.
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Market Overview
Game based learning is a process of using educational games as a platform to teach students. Educational games are games that are specifically designed for educational purposes or have incidental or secondary educational value. The growing adoption of game-based learning is mainly attributed to the increasing demand for virtual reality and augmented reality and artificial intelligence. The game-based learning is growing on account of its features such as conformational feedback. Conformational feedback is intended to indicate the degree to which a response, action, or activity was correct or incorrect. Furthermore, the growing prominence of gaming industry is expected to influence the market growth. For instance, according to techdigest, the number of gaming apps in the Google Play Store jumped by 40% in a year and hit almost 480,000 in the first quarter of 2021. Moreover, companies are moving to cloud-based models to take advantage of new technologies such as microlearning, augmented learning, and virtual reality. Additionally, cloud-based technology is gaining momentum in the education sector due to its low-cost and flexible teaching methods for students.
Some of the major players operating in the market include Kahoot, Frontier Developments plc, Mojang Studios, BreakAway Games, Schell Games, Monkimun Inc, Smart Lumies Ltd, Cognitive ToyBox Inc, Paratus Knowledge Ventures Pvt Ltd, and Indusgeeks Solutions Pvt Ltd.
COVID-19 Impact
The recent covid-19 pandemic has affected the global game-based learning market in different ways, such as directly impacting the production and supply chain. Moreover, due to covid-19, the income of the urban population was significantly impacted due to which the demand has also shown a downfall.
The global game based learning market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of deployment, the market is bifurcated into on-premises and cloud. The cloud segment is expected to grow with a significant CAGR during the forecast period. The growth of the cloud segment is mainly governed by factors, such as easy deployment, flexibility, and cost-effective pricing structure. Furthermore, the cloud enables project managers to synchronize and connect with multiple teams to get real-time information across the project sites. It has become the most preferred way to deploy learning games and is predicted to maintain its growth over the forecast period.
· Based on end-user, the game-based learning market is classified into education, consumer enterprises, and governments. The education sector accounted for a significant share in 2020 and is expected to showcase similar growth during the forecast period. Features such as amplified recalling ability for better retention and its potential to foster creative thinking and problem-solving capabilities are expected to drive the market during the forecast period. Furthermore, the implementation of games enables healthy competition amongst students and simultaneously introduces them to goals and feedback.
Have a Look at the Chapters
Game Based Learning Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is expected to lead the game-based learning market in 2021 and is expected to retain its domination throughout the forecast period. The rapid adoption of game-based learning solutions in the region is attributed to the growing integration of superior technology such as AI, AR/VR, and cloud technology. Furthermore, the presence of developed economies in the region such as The United States and Canada have advanced connectivity, which gives their citizens access to uninterrupted network connectivity. In addition, the robust growth of the ICT sector in the region coupled with the presence of key players is expected to elevate the market during the forecast period.
The major players targeting the market include
· Kahoot
· Frontier Developments plc
· Mojang
· BreakAway Games
· Schell Games
· Monkimun Inc
· Smart Lumies Ltd
· Cognitive ToyBox Inc
· Paratus Knowledge Ventures Pvt Ltd
· Indusgeeks Solutions Pvt Ltd.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Game Based Learning Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the game-based learning market?
• Which factors are influencing the game-based learning market over the forecast period?
• What are the global challenges, threats, and risks in the game-based learning market?
• Which factors are propelling and restraining the game based learning market?
• What are the demanding global regions of the game based learning market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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