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IC_174485
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Pages: 180
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Nov 2017 | 3547 Views
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Author's :
Kalyani Sonawane
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Tables: 86
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Charts: 91
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Serious games are digital applications designed for education with fun. The primary function of serious games is to provide knowledge, train, inform, memorize, and teach end users, rather than mere entertainment. It enables advertisers to optimize brand awareness by increasing receptiveness of message, target more audience, and generate additional traffic to their websites. It also helps students to learn with fun as it bridges gap between theory and practical. Serious games are also used in inspection, technical training, competency evaluation, fault finding & rectification, and other applications.
The global serious games market was valued at $2,731 million in 2016, and is expected to reach $9,167 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023. The major factors that drive the market growth are increased need for user engagement across enterprises, growth in usage of mobile-based educational games, and improvement in learning outcomes. Improper game design and lack of awareness about serious games hinder the growth of the market. Large-scale digitization and emergence of social networks pave new opportunities in the market.
The key players operating in the global serious games industry include BreakAway, Ltd., Designing Digitally, Inc., DIGINEXT, IBM Corporation, Intuition, Learning Nexus Ltd, Nintendo Co., Ltd., Promotion Software GmbH, Revelian, and Tata Interactive Systems. These players have expanded their market presence by adopting various business strategies such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.
Segment Review
The serious games market is segmented based on user type, application, industry vertical, and geography. Based on user type, it is bifurcated into enterprises and consumers. As per application, the market is classified into advertising & marketing, simulation training, research & planning, human resources, and others. Based on industry vertical, the global serious games market is studied across healthcare, aerospace & defense, government, education, retail, media & entertainment, and others. Based on region, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.
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The Asia-Pacific serious games market generated the highest revenue in 2016, attributed to large population, high Internet penetration in the region, and high number of youth active on social networks & other online platforms. The LAMEA serious games market is expected to grow at the highest CAGR, owing to the growth in penetration of internet, changes in consumer demographics, and uncaptured opportunities for the suppliers in LAMEA for e-learning content, software, hardware, and other services. Further, Government of the Middle East focuses on promoting mass digitization process especially in soft skills development.
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Increase in Need of Better User Engagement Platforms Across Enterprises
Employee and student engagement and productivity are directly proportional to each other. To improve the productivity of enterprises, employee engagement in training and development programs is one of the crucial activity. For such activities, organizations are willing to invest in serious games platform such as Comarch Enterprise Engagement Platform, which is an IT system for organizations that comprehensively implement mechanisms and components of engagement in the work environment by defining game conditions, rules, and achievements.
Significant Adoption of Virtual Reality in Training and Development Activities
Virtual reality is getting significant adoption in the serious games market as it creates a realistic environment for the training and development activities, which increases employee activities and their performance. Factors that contribute to the growth of virtual reality market across the globe include increase in awareness about such technologies, cost-effective solutions easily available in the market, and increased expenditure from end user verticals such as defense, education, healthcare and others on employee engagement solutions.
Large-scale Digitization
Large-scale digitization across growing economies has offered considerable growth opportunities for the global serious games market worldwide. Highly digitized regions found it easier to collaborate with the serious games to enhance their employee engagement programs and productivity as the deployment of such programs becomes much easier and affordable.
Unsuitable Game Designs
The working mechanism of a serious game is highly dependent on its design to create a maximum impact on a user. However, if the game fails to achieve its intended target, which is employee engagement, training, and development then there is no use in investing in such games. Such unsuitable game designs can hamper the market growth.
Key Benefits for Stakeholders
The Key Players Profiled in The Report are as Follows:
Serious games are games designed for a purpose other than pure entertainment. They use game environment and techniques to educate or train users & employees, or promote a product or service in an engaging and entertaining manner. These games are used in various industries such as education, defense, healthcare, emergency management, city planning, scientific exploration, and others. Advances in technology, 3D gaming, motion tracking, and sophisticated graphics design has significantly changed the dynamics of serious games since past few decades in a positive way. There are five major elements in a serious game, which affect the impact of the game on the user including story, game dynamics, immediate & individualized feedback, simulation, and intended goal of the game.
The global serious games market size is expected to reach $9,167 million by 2023, owing to rising need of better employee and customer engagement platform, growth in usage of mobile phones in education industry, increase in adoption of virtual reality and simulation based gaming, and improvement in learning outcomes. Further, key players in the serious games market introduce novel games, including on the cloud platform has created positive vibes among enterprises to adopt serious games. In addition, increase in scope for social network & other web-based advertising and large-scale digitization is expected to create significant growth opportunities for the global serious games market. However, lack of cognizance about the benefits of serious games and inappropriate designs of games, which fail to achieve its goal hamper the market growth.
In 2016, Asia-Pacific generated the highest revenue, owing to high population of the region having internet presence, large number of mobile phone consumers in the region, and high consumption of self-paced learning & mobile learning tools in China. The LAMEA serious games market is expected to grow at the highest CAGR during the forecast period as majority of the region possess uncaptured market potential for the growth of serious games industry.
Among user types, consumers segment is the dominant one throughout the analysis period. Enterprises have started to utilize serious games in corporate activities such as employee engagement, motivation, training, and development and product & services promotional activities. Others segment including corporates, transportation, manufacturing & energy & utilities is the largest consumer of serious games products, followed by education sector. Furthermore, the education segment is expected to witness the highest growth rate, as the industry is expected to well-receive technologically advanced learning tools to improve learning capabilities among students and other users.
The key market players in the global serious games market have adopted various strategies, such as product launches, partnerships, business expansions, promotional activities, and strategic alliances, to increase awareness about newer technologies and increase their adoption across various verticals.
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