Allied Market Research published a new report, titled, ” Game Based Learning Market Growing at 17.4% CAGR | Reach USD 79.9 Billion by 2031 Globally.”
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global game based learning market was valued at $16.2 billion in 2021, and is projected to reach $79.9 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.
Driving Factors Game Based Learning Market
Technological advancements in the gaming sector such as artificial intelligence (AI) and augmented reality (AR) and availability of 5G and emergence of unlimited data plans drive the growth of the global game-based learning market. North America segment accounted for the highest share in 2021, and is expected to dominate by 2031. Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions during the Covid-19 pandemic.
Market Segmentation of Game Based Learning Market
The game based learning market is segmented into Component, Deployment Model, Game Type and Industry Vertical. On the basis of component, the market is segmented into solution and services. According to the deployment, it is fragmented into on-premise and cloud. On the basis of game type, the market is segmented into AR VR games, AI based games, location-based games, assessment & evaluation games, training, knowledge & skill-based games, language learning games, and others. According to industry vertical, it is fragmented into consumer, education, government and enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players in Game Based Learning Market
Leading market players of the global game based learning market analyzed in the research include Cisco Systems Inc., Duolingo, Hurix Digital, Learning Pool, StratBeans Consulting Pvt. Ltd., ELM Learning, Centrical, Cognitive Toybox Inc., G-cube, Gametize, EI Design Pvt. Ltd., Allen Communication Learning Services, Learnbrite, Schell Games, Filament Games, and Toolwire Spaces Learning and Performance Development Group. Product portfolio, business performance, and key development and moves are highlighted in the report for these market players.
Based on region, North America segment accounted for the highest share in 2021, holding more than one-third of the global market, and is expected to dominate by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 19.2% during the forecast period.
Based on component, the solution segment held the highest share in 2021, accounting for more than half of the total share, and is projected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 18.7% from 2022 to 2031.
Based on deployment model, the on premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global game-based learning market, and is projected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 18.3% from 2022 to 2031.
Covid-19 Scenario in Game Based Learning Market-
● Many educational institutions and learning institutes needed to shift their operations online, owing to lockdown restrictions implemented by governments during the Covid-19 pandemic. This led to increase in development and adoption of game-based learning models worldwide.
● With emergence of innovative e-learning models, game-based learning became one of the leading models adopted across the globe. This, in turn, made a positive impact on the overall revenue of the market.
● The U.S., China, Italy, and other developed countries were one of the first adopting countries for game-based education courses along with teaching methodologies. Many countries followed the adoption.
● The investments in game based learning technologies and institutes surged considerably during the pandemic to provide various methods of teaching and make a mark.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
