PUBLISHER: The Business Research Company | PRODUCT CODE: 1695935
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695935
Game-based learning refers to the use of interactive and immersive gaming elements to facilitate education, training and skill development. This approach integrates gaming mechanics such as challenges, rewards and storytelling into educational content, creating an engaging and interactive learning environment.
The game-based learning market consists of sales, by entities (organizations, sole traders, or partnerships), of game-based learning products, which are utilized by individuals, educational institutions, government agencies and enterprises to enhance knowledge acquisition, improve retention rates and foster skill development in various domains. The users of game-based learning span a wide range of demographics, including students, employees, professionals and consumers seeking personal development.
The global game-based learning market was valued at $5,791.77 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 24.00%.
Increased Adoption of Digital Learning Platforms
The increased adoption of digital learning platforms supported the growth of the game-based learning market during the historic period. Digital learning platforms effectively deliver game-based learning, offering global access and flexibility. They enhance engagement through interactive challenges and multimedia environments, leveraging AI and analytics to personalize experiences, optimize learning outcomes and align with individual styles and paces. For example, in February 2022, the U.S. Small Business Administration (SBA), an independent agency of the United States government that provides support to entrepreneurs and small businesses, announced the launch of Journey 6 of the Ascent e-learning platform, which is focused on educating women business owners about venturing into government contracting, to help expand their businesses. Further, in August 2020, the City University of New York (CUNY), a US-based public university, collaborated with the New York Jobs chief executive officer (CEO) Council, a US-based group of top executives from leading companies in New York City to launch the EverUp Micro-Credential Program, which offers 100-hour online intensives alongside traditional degree programs. Shaped by input from the largest employers in New York City, these credentials aim to better prepare students for jobs or internships, by helping them master specific job-related skills. Therefore, the increased adoption of digital learning platforms drove the growth of the game-based learning market.
Revolutionizing Soft-Skill Training With Game-Based Learning Platforms
Companies operating in the game-based learning market are focusing on unveiling a new era in soft-skill training with games. These platforms can analyse learner behaviours in different scenarios, providing insights into how they apply soft skills and where they might need additional support. For instance, in May 2024, Kairos, a US-based digital engineering company, launched India's first comprehensive game-based training platform to arm corporates with soft skills. This innovative suite of digital games, physical games and tools, combined with comprehensive resources, provides learning and development (L&D) professionals the tools they require to make soft-skill training impactful and engaging in a way that helps learners 'want learning.'. The unique game designs draw out instinctive behaviours and help bring to light the gaps between what participants think they know, vis-a-vis what they actually do in the workplace. The games offer real challenges that tap into intrinsic motivation to participate, interact, share and enable peer-to-peer learning.
The global game-based learning market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.62% of the total market in 2023.
Game-Based Learning Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global game-based learning market as it emerges from the COVID-19 shut down.
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 history and forecasts market growth by geography. It places the market within the context of the wider game-based learning market; and compares it with other markets.
Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.