How is Rising Need for Customer Engagement Fuelling Growth of Global Gamification Market?

The biggest factor responsible for the surging demand for the gamification technology is the soaring number of measures and efforts by several companies aimed at enhancing their engagement with customers. This is achieved by using the gamification technology in product exploration, interactive communication (which offers users useful features such as frequently asked questions or FAQs), game-based marketing, and loyalty programs. In addition to this, gamification encourages the customers to make more purchases and refer the brand to others, by offering various features such as reward-based promotions, progress indicators, personalized avatars, and loyalty programs.

The other major factor pushing the popularity if this concept is its increasing integration with social media, in order to connect better with the customers and offer them a personalized experience. Driven by these factors, the global gamification market size is expected to grow from $7,841.5 million in 2019 to $76,298.9 million by 2030, demonstrating a CAGR of 24.2% during the forecast period (2020–2030). There are two ways through which the gamification technology is deployed — cloud and on-premises. Of these, the cloud-based deployment recorded higher implementation in 2019, owing to the huge demand for configurable gamification platforms.

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The biggest trend presently being witnessed in the gamification market is the increasing focus on monitoring level progress, mainly on account of the ballooning efforts of the companies for improving customer engagement and employee performance. This is achieved by implementing activity feeds, in-house competitions, and progress bars that help businesses in monitoring and boosting the performance of their employees. Similarly, the customer–brand engagement is enhanced with the help of virtual gifts, avatars and storytelling, and virtual currencies.

Geographically, North America recorded the highest adoption of the gamification technology in 2019, and this trend is expected to continue during the forecast period. This is ascribed to the surging investments in the IT sector, increasing requirement of gamification solutions equipped with artificial intelligence (AI), rising focus of companies toward higher employee performance and customer engagement, and earlier implementation of this technology in this region. Asia-Pacific (APAC) is predicted to register the fastest growth in the adoption of the concept in years to come, owing to the mushrooming sales of smartphones and rising rate of digitization in this region.

Therefore, it can be concluded that owing to the rising need for higher customer engagement and employee performance, among numerous companies, and increasing requirement for enhanced brand popularity across the globe, the demand for the gamification technology is expected to surge in the coming years.

Read more: https://www.psmarketresearch.com/market-analysis/gamification-market