Game-Based Learning Market to Cross USD 65.88 Billion by 2030 Owing to Rise in Mobile Learning and Technological Advancements | Research by SNS Insider
Based on SNS Insider’s research, educators, learners, and stakeholders alike are increasingly recognizing the transformative potential of game-based learning, marking a promising trajectory for the game-based learning market continued growth in the future.
Pune, Jan. 22, 2024 (GLOBE NEWSWIRE) — “The SNS Insider report predicts a compound annual growth rate (CAGR) of 22.2% in the Game-Based Learning Market, projecting its value to rise from USD 13.25 billion in 2022 to USD 65.88 billion by 2030.”
Game-based learning is a dynamic and innovative educational approach that leverages the engaging nature of games to impart knowledge and skills. Unlike traditional instructional methods, game-based learning incorporates elements of competition, collaboration, and interactivity to create an immersive and effective learning experience. Game-based learning captivates learners by tapping into their natural inclination for play and competition. The interactive and challenging nature of games promotes a sense of curiosity and engagement, fostering intrinsic motivation to overcome obstacles and achieve goals within the learning environment. Collaborative gameplay encourages teamwork and communication skills, preparing learners for real-world scenarios.
The relentless march of technology continues to be a primary driver for the growth of the game-based learning market. The integration of cutting-edge technologies, such as virtual reality (VR) and augmented reality (AR), has elevated the immersive and interactive nature of educational games. These advancements not only enhance the overall learning experience but also cater to the evolving preferences of tech-savvy learners. Beyond traditional academic settings, the adoption of game-based learning has gained significant traction in corporate training programs. Companies are increasingly leveraging gamification to enhance employee engagement, boost retention of training material, and develop essential skills. The gamification approach injects an element of competition and rewards, making learning more enjoyable and effective in professional settings. The globalization of education has facilitated the widespread adoption of game-based learning across borders. With the advent of online platforms, educational games can reach learners globally, transcending geographical constraints.
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Key Players Listed in this Report are:
The major players are Bublar Group, BreakAway games, Frontier Developments, Playgen, Minecraft, Spin Master, Idnusgeeks, Kahoot, Gamelearn, Recurrence, Stratbeans, Tangible Play, Simulearn, Raptivity, Banzai Labs, Cognitive Toybox, VR Education Holdings, Fundamental, Kuato Studios, Schell Games, Monkimun, Smart Lumies, G-Cube, Dreams, Layup, MLevel, Threatgen, Gametize, Sweetrush, Kidoz, and others players
Game-Based Learning Market Report Scope:
|Market Size in 2022
|US$ 13.25 Bn
|Market Size by 2030
|US$ 65.88 Bn
|CAGR of 22.2% From 2023 to 2030
|Key Regional Coverage
|North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Game-Based Learning Market Key Influencing Factors:
- Personalized Learning Experiences:
GBL facilitates personalized learning journeys tailored to individual student needs. Adaptive game mechanics can dynamically adjust difficulty levels, pacing, and content based on the learner’s progress. This customization provides a unique and tailored educational experience accommodating diverse learning styles.
- Skill Development and Critical Thinking:
GBL places a strong emphasis on skill development and critical thinking. Games often focus on problem-solving, strategic planning, and decision-making, going beyond traditional rote memorization. This nurtures skills essential for real-world applications, contributing to a holistic learning experience.
- Global Collaboration and Social Learning:
Many game-based learning platforms facilitate global collaboration and social learning. Students engage in collaborative problem-solving, cultural exchange, and teamwork, breaking down geographical barriers and preparing them for a globally connected world.
- Professional Development for Educators:
The adoption of game-based learning also influences the professional development landscape for educators. Teachers are increasingly incorporating game-based methodologies in their instructional approaches, fostering creativity and innovation in teaching practices.
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Market Dynamics Analysis
The dynamics of the game-based learning market are shaped by a multitude of factors, with drivers, restraints, challenges, and threats playing pivotal roles in its evolution. One of the primary drivers propelling the growth of the game-based learning market is the increasing recognition of the effectiveness of interactive and immersive learning experiences. The demand for innovative educational tools that engage and captivate learners has led to the integration of game elements into educational platforms, fostering a more dynamic and enjoyable learning environment. Additionally, the rising prevalence of digitalization in education and the ubiquity of smartphones and tablets have further accelerated the adoption of game-based learning solutions.
However, the game-based learning market is not without its restraints. One notable challenge is the need for substantial upfront investments in technology and content development. Creating high-quality educational games requires a significant investment of time and resources, which can be a barrier for some educational institutions and organizations. Amidst the promising growth, the game-based learning market faces challenges related to content customization and adaptability. Tailoring educational games to suit diverse learning styles and curricula demands a careful balance between entertainment and educational objectives.
Game-Based Learning Market Segmentation:
By Deployment mode
By Game type
- AR VR games
- AI-based games
- Location-based games
- Assessment and evaluation of games
- Training, knowledge, and skill-based games
- Language learning games
Key Regional Developments of Game-Based Learning Market
The North American region stands out as a leader in the game-based learning market, driven by a robust education infrastructure and a high level of technological adoption. The United States and Canada have been at the forefront of integrating gamified educational solutions into their curricula. Europe has been quick to embrace game-based learning, with countries like the United Kingdom, Germany, and France leading the way. The European market is characterized by a diverse landscape, with each country having its own set of regulations and preferences. The Asia-Pacific region is witnessing rapid growth in the game-based learning market, fueled by the increasing demand for innovative educational methods and the proliferation of digital devices.
Impact of Recession
The game-based learning market, although resilient, is not immune to the economic challenges posed by a recession. Educational institutions, grappling with budget constraints, may reassess their spending priorities, potentially affecting investments in innovative learning solutions. This shift could impact the adoption of game-based learning platforms, posing a challenge for vendors to demonstrate the tangible benefits and cost-effectiveness of their products. The recession underscores the importance of technology integration and accessibility in education. Game-based learning solutions that seamlessly integrate with existing educational frameworks and cater to diverse learning needs will likely weather the economic storm more effectively.
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Key Takeaway from Game-Based Learning Market Study
- Augmented Reality and Virtual Reality have transcended the boundaries of entertainment and entered the realm of education, offering immersive and interactive experiences. In the context of game-based learning, these technologies provide a unique platform for students to explore subjects in a three-dimensional and engaging environment.
- While institutional adoption is crucial, the consumer segment plays a pivotal role in propelling the game-based learning market forward. The accessibility of AR and VR games on various consumer devices, such as smartphones and personal computers, widens the reach of educational content.
- Stemuli, a leading player in the game-based learning industry, has announced a strategic merger with Black Founders, a dynamic entity fostering diversity and innovation. This collaboration is set to redefine the landscape of educational technology, bringing together Stemuli’s prowess in gamified learning solutions with the unique perspectives and expertise championed by Black Founders.
- Legends of Learning, an innovative platform dedicated to enhancing learning through games, has successfully raised $5 million in funding. This significant financial infusion is poised to accelerate the platform’s mission of revolutionizing education through engaging and interactive gameplay experiences.
Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Game-Based Learning Market Segmentation, By Component
9. Game-Based Learning Market Segmentation, By Deployment Mode
10. Game-Based Learning Market Segmentation, By Platform
11. Game-Based Learning Market Segmentation, By Game Type
12. Game-Based Learning Market Segmentation, By End-user
13. Regional Analysis
14. Company Profile
15. Competitive Landscape
16. USE Cases and Best Practices
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