Game-Based Learning Market worth $29.7 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 18, 2022 /PRNewswire/ -- According to a new market research report "Game-Based Learning Market with COVID-19 Impact, by Component (Solution and Services), Game Type, Deployment Mode (On-premises and Cloud), End User (Education, Governments, Consumers, and Enterprises) and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Game-Based Learning Market size is expected to grow from USD 11.0 billion in 2021 to USD 29.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period.
Game-based learnings, such as AR VR games, AI-based games, Location-based games, Assessment and Evaluation games, Training, Knowledge and Skill-based games, Language learning games create modules, assessments, quizzes for the subjects of math, physics, chemistry, etc. organizations are using these game-based learning techniques because of ease of learning, problem-solving, time saving, cost-effectiveness, and demand in learning for immediate feedback on performance. This learning platform is used to learn any subject, in any game, in any language, on any device for all ages.
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Training, knowledge, and skill-based games segment is estimated to have the largest market size during the forecast period
The education sector is using knowledge-based quizzes on computers to analyze the ability of knowledge of each student. Some skill-based games include Ludo, Call Break, Fantasy Cricket, Rummy, Bingo Game; these games have expanded their users in the market. Gambling and skill-based real money gaming are two different ball games. Online skill games can make anyone win real money. Platforms, such as AIO Games, is a trustworthy platform where one gets a chance to play multiple gaming to win cash under one umbrella.
The enterprises segment is adopting game-based learning at the highest rate
There has been an increase in the usage of innovative technologies among individuals with the widespread adoption of internet, digital technology, and cloud. Moreover, organizations are also adopting solution to enhance the productivity of employees. Businesses across all the industry verticals use several solution so that their employees and clients can work and perform better along with improved communication and sharing, among various departments of an organization. Based on enterprises, the Game-Based Learning Mrket has been segmented into BFSI, manufacturing, healthcare and life sciences, IT and telecommunications, consumer goods and retails and others.
The education segment is expected to hold the largest market share
Game-based learning is an innovative approach that uses computer games which offers educational value using different kinds of software applications to succeed teaching enhancement, assessment, and evaluation of learners. In education, game-based learning is used in the flashcard type games such as duel, simulation game (plantville), interactives (Funbrain), quiz games (kahoot), puzzles (crossword), strategy games (Europa universals), and reality testing games (chemistry VR). The GBL platform is used by educational intuitions, companies, and parents, as a method to turn learning into entertainment.
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North America to dominate the Game-Based Learning Market in 2021
North America has been an extremely open and competitive market in terms of the adoption of the game-based learning solution across end users. It is the topmost region in adopting based learning solution. It has been extremely responsive toward adopting the latest technological advancements, such as integration technologies with AI, cloud, and mobile technologies within traditional-based learning solution. The major growth driver for this region is the rigorous government standards and regulations framed for various industries.
The Game-Based Learning Market is dominated by companies such as Kahoot (Norway) Frontier Developments (UK), Minecraft (Sweden), Spin Master (Canada), Bublar Group (Sweden), BreakAway games (US), Gamelearn (Spain), Recurrence (US), Schell Games (US), Stratbeans (India), Tangible Play (US), Simulearn (US), Playgen (UK), Raptivity (US), Banzai Labs (US), Cognitive Toybox (US), Fundamentor (India), Idnusgeeks (India), Kuato Studios (UK), Monkimun (US), Smart Lumies (US), G-Cube (India), Hornbill FX (India), Infinite Dreams (Poland), Layup (Sri Lanka), MLevel (US), Quodeck (India), Threatgen (US), Gametize (Singapore), Sweetrush (US), Kidoz, (US) and VR Education Holdings (Ireland).
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