Global Gamification market is estimated to contribute revenue of USD 4.3 billion in 2017 and is further anticipated to witness a CAGR of 30.7% during the forecast period (2018 – 2024). Gamification technique is used by individuals for assimilating persistent game design for everyday operation basis in order to encourage and involve people in order to attain their objectives in an effective manner. On the basis of user type, gamification market is segmented into small and medium enterprises and large enterprises. Among these two segments, a small and medium enterprise is expected to witness faster growth of 35.4% during the forecast period. Gamification techniques are enabling the small and medium enterprises to re-evaluated the method that leads to producing results with the help of processes, people and technology.
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Geographically, North America has accounted for the largest share of more than 45% in 2017 and is further anticipated to witness considerable growth during the forecast period. The growth of this market in the region is attributed to the extensive adoption of enterprise-based and customer-based solution in this region. In order to aggravate the marketing activities of their organizations, countries such as the U.S. and Canada are rapidly adopting gamification technique with the use effective branding, advertising and customer interaction. These factors are thereby accentuating the demand for gamification market in this region.
Moreover, Asia-Pacific is expected to witness fastest growth in the gamification market due to increasing penetration of internet in this region along with extensive demand for mobile devices. The growth of this market in the region is expected to at a CAGR of more than 40% during the forecast period.
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The gamification market is consolidated and the key players offering these solutions are Bunchball Inc., Badgeville Inc., Kuato Studios, SAP SE, Cisco Systems Inc., Gigya Inc., Microsoft Corporation, Knewton, BigDoor Inc., and Lithium Technologies Inc.
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