Rise in demand for better user engagement platforms across organizations, improvement in learning outcomes, adoption of virtual reality in training and development activities, and rise in use of mobile-based educational games have boosted the growth of the global serious games market. However, unsuitable game designs and lack of awareness regarding the advancements and use of serious games hinder the market growth. On the contrary, advent of social networks and inclination toward interactive advertisements coupled with large-scale digitization would unlock new opportunities in the future.
The global serious games market was pegged at $5.94 billion in 2020, and is expected to reach $32.72 billion by 2030, growing at a CAGR of 18.4% from 2021 to 2030.
The market is impacted by factors such as increase in need for better user engagement platforms across enterprises, surge in usage of mobile-based educational games, and significant adoption of virtual reality in training & development activities. However, lack of awareness about the advantages & usage of serious game, and unsuitable game design are anticipated to hamper the serious games market size.
Key players in the serious games market:
The global serious games market includes an in-depth analysis of the prime market players such as BreakAway, Ltd., DIGINEXT, Designing Digitally, Inc., Intuition, IBM Corporation, Nintendo Co., Ltd., Learning Nexus Ltd, Revelian, and Tata Interactive Systems.
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Segmental review of the serious games market:
On the basis of gaming platform, the smartphone segment dominated the market in 2020, contributing to more than one-third of the market. In addition, the segment is projected to manifest the highest CAGR of 19.0% during the forecast period. The report also analyzes the segments including console, PC, and others.
According to the application, the simulation and training segment dominated the serious games market in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to ongoing trend of game-based learning among organizations to achieve impressive performance results from employees. Serious games are being used in a variety of simulation and training use cases, such as corporate education, emergency services training, and health care among other purposes. However, the research and planning segment is expected to witness highest growth rate during the serious games market forecast period.
In 2020, on the basis of industry vertical, the education segment dominated the global serious games market growth, and is expected to maintain its dominance in the upcoming years. Serious games help in gaining extended retention, efficient memorization, can be customized, create huge volume of information, offer interactive & attractive interaction with individuals, and save time & costs. In addition, they help in understanding cultural heritage with an interactive session that is expected to attract students’ attention. Other factors positively affecting the adoption of serious games in the education industry include rise in usage of inexpensive & ubiquitous hardware, availability of robust networks that enable easy connectivity, adoption of brain science software, and pressure on educational institutes to enhance the skills of students
The global serious games industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the market across LAMEA region is expected to portray the highest CAGR of 19.6% from 2021 to 2030.
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