Naperville, IL -- (SBWIRE) -- 12/31/2012 -- Gamification is the use of game design strategies in non-game applications to optimize user engagement. It encourages consumers to engage in a particular behavior by taking advantage of the psychological susceptibility of humans to engage in gaming. Gamification is increasingly used in applications such as loyalty programs, social networks, and financial service websites. It is also used in employee training programs.
Global Gamification market to grow rapidly at a CAGR of more than 99 percent over the period 2012-2016. The growth of the Global Gamification market is driven by many factors. One of the major drivers is the need for enterprises to optimize consumer engagement. Gamification provides an insight into the purchasing-related demand for various products. This insight is then used by marketers to formulate strategies to increase sales visibility of their products and also to encourage increased consumer engagement.
Despite the presence of strong drivers, the growth of the Global Gamification market is curtailed by some serious challenges. The difficulty in selecting the right solution from the wide variety of options available is one of the major challenges confronting this market.
Gamification is used across all major verticals and industries. However, the Entertainment sector is the largest end-user in the Global Gamification market. Enterprises in the Entertainment sector are realizing the importance of maintaining customer relationships and incorporating consumer engagement programs into their offerings. The Media is the second-largest end-user sector in the Global Gamification market. Other sectors with a substantial interest in gamification applications include Consumer Goods, Retail, Telecom, Financial, Education, Healthcare, Government, and Utility. These sectors are using gamification applications to gain a competitive advantage in the market.
Global Gamification Market by End-user Segmentation 2012
The Global Gamification market is highly fragmented with many small vendors providing gamification tools. However, the market is expected to witness vendor consolidation in the near future as a result of the increasing acquisition of niche vendors by large vendors. Vendors are expecting high growth rate, leading to increased investment in this market.
Key vendors dominating this market space include Badgeville Inc., Gigya Inc., Bunchball Inc., and BigDoor Media Inc.
Other vendors mentioned in the report are PunchTab Inc., IActionable Inc., Gamify Inc., PugPharm Productions Inc.
Global Gamification Market 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Gamification market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key questions answered in this report:
What will the market size be in 2016 and what will be the growth rate?
Who are the key industries adopting Gamification
What are key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by key vendors?
What are the strengths and weaknesses of each of these key vendors?
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