Serious Games Market Worth $5,448 Million by 2020
I recently read a report from Marketsandmarkets (link at foot of page) about the growth of the Serious Games Market which is very interesting. Here are the key points from the report.
Serious game simulates the real world into a virtual world scenario. They are basically designed to provide education and training related services. The serious game market is witnessing rapid growth. Potential benefits of serious games include improved self-monitoring, enhanced problem recognition and problem solving abilities, and increased social skills such as collaboration, negotiation, and decision making. Serious games can be applied to a broad spectrum of industry verticals such as military, government, education, corporate, and healthcare.
Serious games cater to various applications across industry verticals. The serious game market has been segmented based on vertical into aerospace & defense, automotive, corporate, education, energy, government, healthcare, retail, media & advertising, and others. The education and corporate segments account for the major share of the market and are also expected to grow at the highest CAGR between 2015 and 2020.
The report profiles the major companies in the serious game market. It also provides the competitive landscape of key players along with, detailing their growth strategy in the serious game market. The report also covers the entire value chain of the market, including an in-depth analysis of the same. The market is expected to grow at a CAGR of 16.38% between 2015 and 2020.
The report also details the market dynamics such as drivers, restraints, challenges, and opportunities. It also provides Porter’s Five Forces analysis with a description of each of its forces and their respective impact on the market. The major players in the serious game market include IBM Corp. (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corp. (U.S.), Nintendo Co. Ltd. (Japan), BreakAway Games (U.S.), and Serious Game International (U.K.) among others. The detailed explanation of the different market segments has been given below:
Market by Vertical:
The serious game market has been segmented based on vertical into aerospace & defence, automotive, corporate, education, energy, government, healthcare, retail, media & advertising, and others (research, tourism, and agriculture).
Market by Application:
The serious game market has been segmented based on application into emergency services, human resources, marketing, product development, sales, training, and support.
Market by Platform:
The serious game market has been segmented on the basis of platform into hand-held, mobile-based, PC-based, and web-based.
Market by End User:
The serious game market includes two main end users, namely, consumer and enterprise.
Market by Region:
The serious game market has been segmented into four different regions, namely, North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).
Overview of Report
The Serious Game Market is expected to grow at a CAGR of 16.38% between 2015 and 2020. It covers different type of verticals, namely, aerospace & defence, automotive, corporate, education, energy, government, healthcare, retail, media & advertising, and others (research, tourism, and agriculture).
Serious games comprise a set of learning tools that are used for educational and training purposes. They have various applications, namely, training, human resources, marketing, product development, sales, emergency services, and support. The increasing adoption of serious games in the corporate and education sector is a key trend in the said market.
This report describes the drivers, restraints, opportunities, and challenges with respect to the serious game market. The factors which are driving the Serious Game Market include the high return on investment, increased need for user engagement across enterprises and consumer brands, growing usage of mobile-based educational games, and improved learning outcomes. The restraining factors affecting the market include the improper game design, lack of awareness about serious game, and shortage of assessment tools. The explosion of the digital world and emergence of social networks are considered to be an opportunity for the serious game market. Unavailability of direct-to-consumer based serious games is a big challenge faced by the end-users in the serious game market.
This report provides a detailed view of the market across geographies, namely, North America, Europe, Asia-Pacific, and RoW. North America accounted for the highest share of ~54% of the Serious Game Market in 2014, it is expected to grow at a CAGR of 15.80% between 2015 and 2020.
The major players involved in the development of Serious Game Market include IBM Corp. (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corp. (U.S.), Nintendo Co. Ltd. (Japan), BreakAway Games (U.S.), and Serious Game International (U.K.) among others.
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