PUBLISHER: The Business Research Company | PRODUCT CODE: 1436312
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436312
Game-based learning is an instructional approach that harnesses the efficacy of games to define and support learning outcomes.
Game-based learning comprises solutions and services, with the solution segment involving the sales of game-based learning solutions by entities providing engaging learning experiences. These solutions enhance content understanding and overall performance, fostering problem-solving, risk-taking, decision-making, and analytical thinking. Deployment modes include cloud and on-premises, offering games such as AR VR games, AI-based games, location-based games, assessment and evaluation games, training, knowledge, skill-based games, language learning games, and more. End-users range from consumers and education to government and enterprises.
The game-based learning market research report is one of a series of new reports from The Business Research Company that provides game-based learning market statistics, including game-based learning industry global market size, regional shares, competitors with a game-based learning market share, detailed game based learning market segments, market trends and opportunities, and any further data you may need to thrive in the game-based learning industry. This game-based learning market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The game based learning market size has grown exponentially in recent years. It will grow from $14.13 billion in 2023 to $17.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The expansion observed in the historical period can be attributed to a shift in educational paradigms, the demand for interactive and engaging learning tools, a focus on personalized learning, and the recognition of the benefits of gamification.
The game based learning market size is expected to see exponential growth in the next few years. It will grow to $42.46 billion in 2028 at a compound annual growth rate (CAGR) of 25.0%. The anticipated growth in the forecast period can be attributed to a focus on skill development, the rise of mobile learning platforms, application in corporate training, and the incorporation of analytics and data-driven insights. Major trends expected in the forecast period include the incorporation of storytelling elements, mobile game-based learning apps, and competency-based learning games.
The game-based learning market is poised for growth due to the increasing emphasis on personalized learning. Personalized learning involves tailoring educational experiences to match the individual needs, interests, strengths, and skills of students. Game-based personalized learning plays a pivotal role in enhancing learning experiences by customizing tasks based on learners' abilities and interests, fostering a shift in learning responsibility to the learners themselves. Notably, private equity investments in EdTech companies focusing on personalized learning were valued at around USD 5 billion in 2021, as reported by the Economic Times, underscoring the substantial growth potential of the game-based learning market.
The expansion in the video gaming industry is poised to drive the growth of the game-based learning market. The video gaming industry encompasses the development, production, distribution, and monetization of video games within the entertainment and technology sector. Game-based learning leverages the immersive nature of games to enhance player experiences, elevate employee training, and contribute to broader educational and societal goals. As per PWC's report in June 2022, the video games and esports market was valued at US$215.6 billion in 2021, with projections indicating growth to reach US$323.5 billion by 2026 at an annual rate of 8.5%. Asia Pacific, with US$109.4 billion in revenue in 2021, accounted for the majority, nearly double that of North America, making the growth in the video gaming industry a significant driver for the game-based learning market.
The game-based learning market is experiencing a trend of strategic partnerships and collaborations between companies. Major players in the market are joining forces to develop and offer innovative services. For instance, in December 2021, Microsoft India partnered with WhiteHat Jr to provide an immersive and personalized learning experience to teachers and students through game-based learning. The Code with Minecraft program, resulting from this collaboration, includes a curated curriculum for students to master coding concepts.
Major companies are innovating solutions such as educational gaming platforms to maintain their market positions. An educational gaming platform is an online or digital environment hosting and delivering educational games and activities. For instance, in September 2022, Focus Games Ltd., an India-based provider of online educational games, introduced FocusGamesIndia.com. The activities on this platform facilitate teamwork among students and contribute to the development of the conscious competence necessary for successful performance in placements and post-qualification. These activities not only enhance students' ability to absorb and retain information but also help them build the self-confidence needed to practice effectively.
In March 2021, Axonify, a Canada-based provider of training and communications solutions, completed the acquisition of MLevel, a US-based digital learning platform that offers a comprehensive 360&de learning experience to enterprise clients, for an undisclosed amount. This acquisition reinforces Axonify's complementary capabilities and positions the company at the forefront of shaping the future of modern learning.
Major companies operating in the game based learning market report are Spin Master Corp., Mojang Studios AB, Kahoot! AS, Frontier Developments PLC, G-Cube, Schell Games LLC, Hornbill FX Limited, LearningWare Inc., Banzai Labs Inc., StratBeans Consulting LLC, Raptivity Technologies Pvt. Ltd., MAK Technologies India Pvt Ltd., Tangible Play, BreakAway Games Ltd., Gamelearn S.L., Lumos Labs Inc., Classcraft Education Inc., Simulearn LLC, Growth Engineering Ltd., Playgen Limited, Kuato Studios Inc., Recurrence Inc., Fundamentor Learning Ltd., Will Interactive, Cognite ToyBox Inc., Indusgeeks Learning Solutions Pvt Ltd., MLevel GmbH, Gametize Learning Labs Inc., Games2Train, SCVNGR Inc.
North America was the largest region in the game-based learning market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the game based learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the game based learning market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The game-based learning market includes revenues earned by entities by providing game-based learning solutions for engaging the learners. Game-based learning refers to embedding the gaming principles within learning activities to improve the users' motivation and engagement. The components involved in game-based learning include badges, points systems, leader boards, quizzes, classroom response systems, and discussion boards. Game-based learning is using active learning techniques through various games to enhance student learning. The user gains knowledge by playing the game, improving problem-solving and critical thinking skills. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Game Based Learning Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on game based learning market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for game based learning ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The game based learning market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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