What Has Been The Historical And Current Growth Of The Game Based Learning Market?
The game based learning market has seen considerable growth due to a variety of factors.
• Recently, there has been a monumental increase in the size of the game based learning market. The market, valued at $17.07 billion in 2024, is projected to expand to $20.84 billion in 2025, showcasing a compound annual growth rate (CAGR) of 22.1%.
The historic period's expansion can be traced back to changing educational models, heightened demand for engaging and interactive learning tools, emphasis on tailored learning, and acknowledgement of the advantages of gamification.
What Is the Forecasted Market Size and Growth Rate for The Game Based Learning Market?
The game based learning market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for game-based learning is predicted to experience a significant increase in the coming years. The projections for 2029 indicate an estimated value of $54.69 billion with a compound annual growth rate of 27.3%.
Various elements contribute to this growth during the forecast period such as a greater emphasis on skill development, the prevalence of mobile learning platforms, its potential use in corporate training, and the inclusion of analytics and data-based insights. Notable trends expected during this period include the integration of storytelling components, mobile application games that promote learning, and games that focus on competency-based learning.
What Key Factors and Trends are Driving the Growth of the Game Based Learning Market?
The game-based learning market is set to witness substantial growth due to the increasing levels of smartphone usage during the prediction period. As more and more people worldwide acquire smartphones, there's an expansion of reach for interactive academic content at all times and places, thus enabling constant learning outside the bounds of traditional classrooms. Smartphones offer interactive features like touchscreens and motion sensors which enrich the user experience, making the process of game-based learning more fun and efficient. For example, Oberlo, a Lithuanian cloud-based solution for e-retailers and vendors, projected that the population of global smartphone users will reach 4.74 billion in 2024, representing a yearly growth of 2.2% in December 2023. It's anticipated that the global usage of smartphones will escalate to 5.14 billion users by 2028, with an approximate addition of 100,000 users each year. Thus, the increasing smartphone penetration is set to fuel the growth of the game-based learning market.
What Are The Main Segments Of The Global Game Based Learning Market?
The game based learning market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Game Type: AR VR Games, AI-based Games, Location-based Games, Assessment And Evaluation Games, Training, Knowledge And Skill-based Games, Language Learning Games, Other Game Types
4) By End User: Consumer, Education, Government, Enterprises
Subsegments:
1) By Solution: Learning Management Systems (LMS), Game Development Software, Content Creation Tools, Assessment Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Development Services
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What Emerging Trends Are Influencing The Growth Of The Game Based Learning Market Landscape?
Major corporations in the game-based learning market are concentrating on fusing media and education to enrich user participation with intricate topics. The partnership of a significant media firm and a renowned game-based learning platform highlights the acknowledgment of game-based learning as an efficient method for advancing financial literacy. To exemplify, in August 2024, CNBC, a business news channel based in the US, forged a new channel on Kahoot!, an online game-based learning platform from Norway, to augment educational involvement around business and fiscal themes. This strategy will provide users globally with access to brief videos and quiz games sorted under the "CNBC Explains" series which will supply knowledge on subjects like Crypto, Economy, Politics, and Technology. This move exhibits CNBC's commitment to amplifying financial literacy and comprehension of personal finance among users, promoting an interactive approach to crucial business news and concepts.
Who Are the Key Players in the Game Based Learning Market?
Major companies operating in the game based learning market include:
• Spin Master Corp.
• Mojang Studios AB
• Kahoot! AS
• Frontier Developments plc
• G-Cube
• Schell Games LLC
• 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.
What Is The Most Dominant Region In The Game Based Learning Market?
North America was the largest region in the game-based learning market in 2024. 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.
