21.9% CAGR - The Game-Based Learning Market Size is Predicted to Reach US$29.7 billion by 2026 Globally says MarketsandMarkets™

Chicago, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global Game-Based Learning Market size expected to grow from USD 11.0 billion in 2021 to USD 29.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period. Game-based learnings, such as AR VR games, AI-based games, Location-based games, Assessment and Evaluation games, Training, Knowledge and Skill-based games, Language learning games create modules, assessments, quizzes for the subjects of math, physics, chemistry, etc. organizations are using these game-based learning techniques because of ease of learning, problem-solving, time saving, cost-effectiveness, and demand in learning for immediate feedback on performance. Games are an engaging way to learn and remember information. For many children, games are far more entertaining than worksheets, flashcards, and drills.

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Assessment and Evaluation games segment is estimated to have the largest market size during the forecast period

Assessment-based games are becoming an increasingly common recruitment tool to screen through thousands of applications in search of the best candidates. Standard psychometric tests such as verbal reasoning, logical reasoning, numerical reasoning, situational judgment tests, and personality tests are being moved onto gamified platforms. In banking, a series of short tests are used to assess a particular skill or behavioral trait. Job simulation experiences are the type of gamified recruitment solution, a bit similar to several psychometric tests combined: situational judgment, numerical, logical, eTray, and personality. Corporates are using these techniques for cost-saving. Cognitive assessment, which seeks to measure various cognitive functions such as memory, attention, and perception, is one area of growing interest. Measuring these functions at the population and individual levels can help to inform research and identify health problems. Attention is an important function to evaluate because an accurate measure of attention can aid in the diagnosis of many common disorders, including attention deficit/hyperactivity disorder and dementia. Using games to assess attention, on the other hand, presents unique challenges because games inherently manipulate attention through elements such as sound effects, graphics, and rewards, and research on incorporating game elements into assessments (ie, gamification) has yielded mixed results.

The government segment has the highest CAGR in game-based learning during the forecast period

In governments, games and gaming methods have been gaining steam for training, change management, and employee culture improvement as well as externally to boost citizen engagement. Human computation games hold the most promise for governments. Three years ago, there were 16 examples of these worldwide, and now more than 80 exists. IBM is a company that sees the value of game formats for government applications and challenges. The firm’s Smartplay program helps integrate real processes and data into problem-solving games for the military and other government agencies. Using its cloud infrastructure and applications to incorporate adaptive analytics, business process management, learning management systems, and social business applications.  A government can use game-based learning to make its activities more appealing to citizens, thereby increasing participation in the activities. Furthermore, it can incorporate moral education into daily life, give citizens the sense that they are achieving individual value in society, and foster a stronger national identity. The Chinese government defines good and bad behavior; good behaviour is rewarded with an increase in the individual's credit score, whereas bad behavior (such as littering, running a stop sign, or being rude to others) results in points being deducted from the individual's score.

The education segment is expected to hold the largest market share

Epic provides educators and students with resources to learn and engage with industry standard interactive 3D tools such as Fortnite Creative, Unreal Engine, and Twinmotion. The company can provide training and lesson plans for content areas such as language arts, science, career and technical education, broadcasting, and video game design using these real-time 3D creation tools. Apps such as Edmodo, BrainPOP, and Reading Eggs provide educational game-based learning to people of all ages. Social media platforms such as Facebook even have a slew of educational games. A well-designed educational game could combine the educational system's learning objectives with the fun, finished product of a commercial game or custom-built games. Games designed specifically for the purpose of educating children can greatly encourage self-learning and problem-solving skills. Game-Based Learning is simply the incorporation of subject knowledge into games. All games, whether for fun or for serious purposes, are learning experiences.

North America to dominate the Game-Based Learning Market in 2021

North America is seeing significant growth in innovative learning methods. The increasing internet penetration rates in these regions are driving the demand for game-based learning. In the same year, Africa had lower internet penetration than other regions. The growing number of smartphone users is expected to play a significant role in creating demand for innovative learning methods such as game-based learning in the coming years. Immersive technologies such as Augmented Reality (AR) and Virtual Reality (VR) have had a positive impact on the education industry in North America by increasing learning efficiency and improving employee and student engagement and knowledge retention. Many emerging market players in North Amercia such as, Breakaway Games, Recurrence, Schell Games, Tangible Play are the major growth factor of game-based learning in North America.

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The Game-Based Learning Market is dominated by companies such as Kahoot (Norway) Frontier Developments (UK), Minecraft (Sweden), Spin Master (Canada), Bublar Group (Sweden), BreakAway games (US), Gamelearn (Spain), Recurrence (US), Schell Games (US), Stratbeans (India), Tangible Play (US),  Simulearn (US), Playgen (UK), Raptivity (US), Banzai Labs (US), Cognitive Toybox (US), Fundamentor (India), Idnusgeeks (India), Kuato Studios (UK), Monkimun (US), Smart Lumies (US), G-Cube (India), Hornbill FX (India), Infinite Dreams (Poland), Layup (Sri Lanka), MLevel (US), Quodeck (India), Threatgen (US), Gametize (Singapore), Sweetrush (US), Kidoz,  (US) and VR Education Holdings (Ireland).