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Gamification Market is Taking Off; Finds a Study

CIO Insider Team | Monday, 17 August, 2020
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CIO Insider Team

While people continue to get increasingly cozy being netizens, propelling to sky-rocket the internet adoption, it’s astonishing the way industries are striving to penetrate different market segment by enlivening user experience. A strong testament the new study by Absolute Markets Insights, which implies a strong growth in gamification market. According to the study, the global gamification market, which was valued at $6397.81 million in 2018, is anticipated to witness a compound annual growth rate of 26.15 percent till 2027.

The report says that the major driving factors include Covid-19 forcing people to satisfy their learning, shopping, and entertainment needs through online and thus influencing businesses to engage customers using gamification technology. On the other hand, organizations are also leveraging the benefits of this new trend to increase employee engagement & productivity by using the technique to enhance corporate training. However, corporate realm is not the only world enhancing their learning paradigm, the educational organizations are also using gamification to enliven the learning experience.

According to UNICEF, as schools and colleges the world over remain shut due to the pandemic, more than 1.6 billion students have been affected. The major edge of them depend on online platforms for learning. This has propelled the educational industry to use gamification alongside other user engagement technologies to make sure that students remains interested in learning.

On the flip side, a yesteryear’s study by TalentLMS had already revealed the influence of gamification among employees. It implicated that employees 89 percent of the participants said gamification makes them feel more productive and happier at work. In addition, 83 percent of those who are exposed to gamified training feel motivated, while on the other hand, 61 percent of them, who received non-gamified training, feel bored and unproductive. Furthermore, 78 percent them agree that gamification in the recruiting process would make a company more desirable.

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