The global gamification market is likely to derive growth from recent technological advancements. According to a report by Fortune Business Insights, titled “Gamification Market Size, Share and Global By Platform (Open Platform, Closed Platform), By Deployment (On-Premise, Cloud), By Organization Size (SME’s, Large Enterprises), By Application(Marketing, Sales, Product Development, Human Resource), End User (Retail, Banking, Government, Healthcare, Education and research, It & Telecom), and Geography Forecast till 2026,” the market will benefit from an increasing number of mergers and acquisitions.
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Gamification is the process of integrating gaming mechanics with the aim of promoting engagement and loyalty. Gamification refers to incorporating game graphics, mechanisms, and thinking into scenarios that do not necessarily resemble a gaming environment. The ability of gamification processes to enable a wide end-user coverage will lead to a rising uptake, globally. Gamification processes may vary depending on the targeted users. A gamification process in a corporate environment may be intended to motivate consumers while market gamification can be used to increase the number of end-users.
The flexibility offered by gamification will offer huge growth potential for the gamification market companies. Fortune Business Insights has predicted that recent advancements in gamification methods combined with the high demand for gamification around the world will lead to an increase in the global gamification market value in the forthcoming years.
Increasing Mergers and Acquisitions Will Enable Market Growth
As a result of the high demand for gamification from across the world, companies are engaged in adopting numerous strategies that will help them gain an edge over their market counterparts. Fortune Business Insights has identified increasing mergers and acquisitions as one of the main factors that will account for an increase in the global gamification market value. In March 2017, Cognizant completed the acquisition of Brilliant Service Co. Ltd., a Japan-based intelligent products and solutions company. The company specializes in digital strategy, product-based design engineering, and the internet of things (IoT). The demand for technologically advanced products will the company profile and will enable the growth of the company in the coming years.
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With this acquisition, Cognizant aims to strengthen its position in the global gamification market, which in turn is expected to have a positive impact on the global market. Fortune Business Insights has predicted that such business strategies adopted by some of the world-renowned companies will encourage the other global gamification market companies. The report includes mergers and acquisitions similar to Cognizant’s latest acquisition and gauges the impact of these strategies on the global gamification market size.
North America to Witness Substantial Growth
The gamification market in North America is saturated in nature. The region has showcased a massive potential for growth in recent years and key gamification market operators will continue to steer the growth of the regional market in the forthcoming years. Growing internet penetration, combined with the rising number of total smartphone users in this region will aid the growth of the regional market.
Additionally, the rising uptake of gamification in enterprise-level solutions, combined with a paradigm shift from conventions systems to technologically advanced systems will help companies generate a substantial gamification market revenue in North America. The report revised the segmentation of the market based on regional demographics and signifies the impact of regional markets on the global market.
Key Market Driver –
- Increased need for customer & employee engagement
- Growing penetration of smartphones and the internet in emerging economies.
Key Market Restraint –
- Inappropriate game designs and lack of awareness regarding gamification merits
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Top Players Overview:
- Gigya Inc.
- Microsoft Corporation
- Lithium Technologies Inc.
- SAP SE
- Bunchball Inc.
- Cisco Systems Inc.
- Gamifier Gamify
- Gamification Co
- Badgeville Inc.
- Kuato Studios
- BigDoor Inc.
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