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The global gamification market size is predicted to USD 37.00 billion by 2027. The integration of VR and AR technologies by companies to provide their employees with safety training, employee engagement, e-learning, and performance management will radically support the market during the forecast period. For instance, Exxon Mobil Corporation leverages gamified virtual reality technology to provide safety training to employees by performing tasks in virtually hazardous environments, mentioned in a report, titled “Gamification Market Size, Share & COVID–19 Impact Analysis, By Deployment (Cloud, On-premises), By Enterprise Size (SMEs and Large Enterprises), By Application (Marketing, Sales, Product Development, Human Resource, Others) By Industry (BFSI, Retail, Government, Healthcare, Education and research, IT and Telecom, Others), and Regional Forecast, 2020-2027” the market size stood at 6.33 billion in 2019 and is predicted to exhibit a CAGR an admirable CAGR of 24.8% between 2020 to 2027.
Inauguration of Influitive Institute to Expedite Industry Revenue
Influitive Corporation, a pioneer in customer relations and engagement software announced that it has launched a new education platform called Influitive Institute. The Influitive Institute platform will include ten interactive modules through its inaugural certification course and Certified AdvocateHub Associate certification. These courses will lay foundations and technical knowledge that new program managers need in order to succeed. The launch of the new platform will be beneficial for the gamification market growth due to the new program, which allows program managers to offer deep insights into customer advocacy and professionalism. Furthermore, the increasing collaborations and partnerships among key companies will subsequently brighten the market prospects. For instance, Tyson Foods announced that it has collaborated with Strivr Labs, Inc. to provide safety and hazard awareness training to employees using VR technology. The company has utilized gamification technology in all its training sessions, which has reduced injuries and illness by 20% in comparison with the previous year.
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Implementation of Cloud-Based Solutions to Foster Growth
The increasing adoption of cloud-based solutions among small and medium scale enterprises (SMEs) owing to its affordability and advanced services in comparison to non-cloud-based solutions will create lucrative business opportunities for the market. The advent of start-ups will aid the adoption of cloud-based gamification solutions during the forecast period. likewise, the increasing adoption of AI-based solutions to streamline employee motivation, engagement, and participation by SMEs will encourage the healthy growth of the market. For instance, persuasive AI technology-based SaaS platforms offer digitized employee communication, recognition, and engagement tools enhancing transparency and collaborative culture in the organization. Besides, the rising investment in new AI technology-based startups by venture capitalists will ease the market in the forthcoming years. For instance, Inventus Capital India, and Ideaspring Capital announced its investment in Worxogo Solutions Pvt. Ltd. that provides Saas application for employees. The solution provides personalized inputs of employees’ daily performances. Also, Quodeck unveiled AI/ML-based SaaS product that uses gamification for the enterprise learning. These factors together are predicted to promote the market in the foreseeable future.
SAP SE’s Business Development Will Reinforce Industry Standpoint
SAP SE is one of the prominent players in the market. The company is focused on customer relations, and experience management to advance a strong footprint in the market. The rising investment in research and development activities for the development of an innovative learning experience will augur well for the market. The growing partnerships and acquisitions of SAP SE will create business opportunities for the market in the forthcoming years. For instance, in January 2019, SAP SE announced the acquisition of Qualtrics International Inc. an experienced management software provider. The new acquisition will help the company to offer exceptional customer relations, employee, product, and brand experiences. The emergence of various companies will aid the market in the forthcoming years.
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Value (USD billion)
By Enterprise Size