In a recent report published by IndustryARC, the Serious Games Market is estimated to reach $2.2 billion by 2020. The market has been segmented according to vertical, including energy, government, healthcare, retail, media & advertising, and education. The education segment has dominated the overall market with a CAGR of over 35% between 2015 and 2020. Meanwhile, the corporate segment is predicted to experience the highest growth rate during the same period.
The global serious games market is expected to grow at a CAGR of 16.1% during the forecast period. The growth of this market is attributed to a wide range of factors including the high demand for employee engagement, increasing use of mobile devices in the education sector, and the growing popularity of virtual reality and simulation based gaming. Another major factor driving the market's growth is the adoption of artificial intelligence and large-scale digitization.
In terms of revenue, the North American region is expected to dominate the global serious games market in 2018. The region's high-tech development and rapidly expanding digital marketing and advertising industries have contributed to heavy adoption of these games. Additionally, large-scale digitization has presented significant growth opportunities for the serious games market. As more companies are turning to serious games as a way to increase employee engagement, these regions have become easier to work with and lower their costs.
Serious games rely on design to achieve the desired outcome. Moreover, if the game design is not suitable for the target, the market growth will suffer. Therefore, a strong company's strategy in the Serious Games Market is to focus on R&D activities, technology launches, and acquisitions. In 2018, the top five companies accounted for 43% of the overall market. These companies include Ibm Corporation, Learning Nexus Ltd, and Breakaway, Ltd.
The Seriousmarkets is dominated by the enterprise segment. Proper employee engagement is one of the main factors driving the growth of the market. As an employer, it is important to ensure that your employees are engaged with the company's mission and goals. As a result, they will be more likely to play the game and become more productive. If employees are engaged with the game, they will be more likely to stay engaged. If they are engaged, they will be more likely to stay engaged and will ultimately make them more profitable.
The report profiles the leading players in the serious games market. It also highlights the key developmental strategies of these companies. They include mergers and acquisitions, expansions, and new product launches. While the last week has been atypical, markets are still extremely volatile. However, the report also highlights the role of government and the Fed in the market. The market is also characterized by several emerging segments. It is possible to define and quantify the market by examining its regional and global growth.
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