Newark, Sept. 26, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global game-based learning market is expected to grow from USD 14.05 billion in 2021 to USD 73.31 billion by 2030, at a CAGR of 20.15% during the forecast period 2022-2030.
The rising adoption of digital learning solutions is anticipated to expand the demand for the game-based learning enterprise during the projection period. Moreover, the increasing urbanization, proliferation of smartphones, and growing disposable income worldwide are also helping propel market growth. However, the slow internet connection & poor network, and limited awareness in underdeveloped nations are restraining the market’s growth. Furthermore, with the increasing popularity of e-sports, multiplayer video game competition between professional & amateur vendors is an opportunity for market growth. The market growth challenges are the lack of IT infrastructure in colleges & schools and the lack of financial support.
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To enhance their market position in the global game-based learning market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, The Fox School of Business executed VR in one of its NBA meetings to connect learners and students in discussion-based learning in April 2021.
Report coverage & details:
|Market Size in 2021||USD 14.05 trillion|
|Market Size in 2031||USD 73.31 trillion|
|No. of Pages in Report||230|
|Covered Segments||Game Type, Deployment Mode, Component, End-User, Regions|
|drivers||Growing adoption of cloud-based learning models in developing & developed economies|
|Opportunities||The raised demand for AI, AR, and VR for learning|
|Restraints||Lack of IT infrastructure at schools & colleges and low internet accessibility|
Market Growth & Trends
The growth of the game-based learning market is driven by the requirement to improve student learning. Further, the increasing penetration of 5G networks that deliver better bandwidth to stream high-quality & graphic-intensive lectures is also helping propel market growth. Moreover, the growing focus on personalized learning is the market growth trend. Personalized learning is the method of customizing the learning according to the interests, strengths, needs, and skills of a student. Further, game-based personalized learning helps improve the learning experiences more proficiently and timely. It simulates the real-world experiences and applications for the facilitators and learners. Hence, the increasing focus on personalized learning propels the market’s growth. In addition, strategic partnerships & collaborations between companies are another key trends gaining popularity in the game-based learning market. Major participants operating in the industry are collaborating and partnering to develop and offer innovative services.
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• In 2021, the training, knowledge, and skill-based games segment dominated the market with the largest market share of 21.05% and market revenue of 2.95 billion.
The game type segment is divided into AI-based games, AR VR games, location-based games, training, knowledge, and skill-based games, assessment and evaluation games, language learning games, and others. In 2021, the training, knowledge, and skill-based games segment dominated the market with the largest market share of 21.05% and market revenue of 2.95 billion. This growth is attributed to the increased skill gap in emerging countries and the availability of online training platforms.
• In 2021, the cloud segment dominated the market with the largest market share of 57.21% and revenue of 8.03 billion.
The deployment mode segment is divided into on-premise and cloud. In 2021, the cloud segment dominated the market with the largest market share of 57.21% and revenue of 8.03 billion. This growth is attributed to the proliferation of cloud technologies in game-based learning solutions.
• In 2021, the services segment dominated the market with the largest market share of 56.34% and revenue of 7.91 billion.
The component segment is divided into services and solutions. In 2021, the services segment dominated the market with the largest market share of 56.34% and revenue of 7.91 billion. This growth is attributed to the increasing demand for online learning courses.
• In 2021, the education segment dominated the market with the largest market share of 22.28% and revenue of 3.13 billion.
The end-user segment is divided into healthcare, education, manufacturing, retail & e-commerce, consumer, IT & telecom, government & defense, and others. In 2021, the education segment dominated the market with the largest market share of 22.28% and revenue of 3.13 billion. This growth is attributed to the increased need for user engagement across industries.
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Regional Segment Analysis of the Game-Based Learning Market:
• North America (US, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global game-based learning industry, with a market share of 46.36% and a market value of around 6.51 billion in 2021. North America currently dominates the game-based learning market due to adoption of the robust cloud computing industry. Moreover, the surge in the usage of digitalized & customized lectures is also helping drive the region’s market growth. Furthermore, Asia Pacific is expected to show the fastest CAGR of 22.03% over the projection period. This growth is attributed to the increasing higher education & corporate sector. Further, the increasing number of online gamers and the growing popularity of online gaming contests propel the market growth in this region during the forecast period.
Key players operating in the global game-based learning market are:
• Frontier Developments
• Bublar Group
• Spin Master
• Tangible Play
• BreakAway games
• Schell Games
• Banzai Labs
• Cognitive Toybox
• Smart Lights
• Kuato Studios
• Infinite Dreams
• Hornbill FX
• VR Education Holdings
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global game-based learning market based on below mentioned segments:
Global Game-Based Learning Market by Game Type:
• AI-Based Games
• AR VR Games
• Location-Based Games
• Knowledge and Skill-Based Games
• Assessment and Evaluation Games
• Language Learning Games
Global Game-Based Learning Market by Deployment Mode:
• On Premise
Global Game-Based Learning Market by Component:
Global Game-Based Learning Market by End-User:
• Retail & eCommerce
• IT & Telecom
• Government & Defense
About the report:
The global game-based learning market is analyzed based on value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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