The Promising Future Of The Game-Based Learning Market
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Predictions About The Growth Of The Game-Based Learning Market

Gamification revenues have had a compound annual global growth rate (CAGR) of 37.1% for the past five years, according to Metaari, the industry's leading analytics company.

This increase in the compound annual global growth rates CAGRs for game-based learning can be attributed to the integration of innovations such as Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI), among others.

The 5 Catalysts Of Game-Based Learning

According to the report, the increasing success of gamified education is mainly due to five factors:

  • Resistance to game-based learning is getting smaller, especially in corporations. The growth rate for game-based learning in corporations is very high, at a five-year compound annual growth rate of 53.4%.
  • The increasing availability of economic and simple tools.
  • The exponential innovation in Augmented Reality, Virtual Reality, and Mixed Reality (MR).
  • The emergence of a new generation of gamified mental exercises based on neuroscience, cognitive therapies, and biosensors. In addition, several companies are increasingly offering game-based courses and pieces of training for a variety of topics and areas of personal growth. For example, courses on diversity in the workplace, which aim to make employees aware of prejudices they may be harboring that might influence the way in which they treat their fellow colleagues and subordinates.
  • The very rapid development of 5G networks. By 2020-2021, 5G networks will be worldwide spread.

Combined, these game-based learning catalysts have managed to generate very favorable market conditions for the developers of this type of technology.

Analysis Of  The Growth Of Game-Based Learning, Based On Geographical Regions

The study has included revenue forecasts for Africa, the Asia Pacific region, Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Africa has the highest growth rate of all, with an impressive 60.1%, followed by North America and Eastern Europe, with 46.1% and 42.8%, respectively.

"The three countries with the highest revenues from gamification in 2018 are China, the US, and India, respectively," reports Adkins. "The growth rate is now slightly positive to flat at 2.2% in China, and by 2023, the US (with a compound annual rate of five-year global growth of 47.6%) will again be the leading country, followed by China. India will retain the third position through the forecast period."

Azerbaijan has the highest growth rate in the world for game-based learning at 61.2%. Of the fifteen countries with the highest growth rates for game-based learning, seven are in Africa. The list includes Uganda, Senegal, Nigeria, Rwanda, Kenya, Tanzania, and Angola. All seven have growth rates that are above 50%. Other countries with high growth rates are Belarus, Kazakhstan, Bangladesh, and Myanmar (Burma).

As for revenues in the Middle East region, they have been low in 2018 when compared to the other regions. However, by 2023 they will increase by over four times, as the Middle East is demonstrating a solid growth rate of 32.3%.

Where Game-Based Learning Can Be Applied

There are eight segments where game-based learning can be applied: consumers, preschools, elementary schools, secondary schools, educational institutions, federal government agencies, local government agencies, and corporations or companies.

The corporate segment has the highest growth rate out of the eight segments mentioned above. Even though revenues are estimated to more than triple across all segments, the drivers for this growth are not the same. They vary for each region due to a difference in the driving forces.

By 2023, the unit price for the consumer game-based learning market will drop, while volume sales and revenues continue being high. Based on this, we can assume that it will be a commodity market. As a result, suppliers will most probably compete on price.

Source

The 2018-2023 Global Game-based Learning Market

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