Global Corporate Game-Based Learning Market 2017-2021
About Corporate Game Based Learning
Game -based learning or serious games refer to all digital applications that are developed to impart learning through games. This encourages learning in players by sharpening their psychological receptivity, when engaged in gaming. Game-based learning utilizes various digital learning products such as e-learning courseware, online audio and video content, social games, and mobile games. The game-based learning products and services are increasingly demanded by the organizations as they provide learning integrated with game elements. The penetration of mobile devices in workplaces is playing a critical role in the adoption of game-based learning, as learners can independently play games while acquiring knowledge.
Technavio’s analysts forecast the global corporate game based learning market to grow at a CAGR of 11.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global corporate game based learning market for 2017-2021. To calculate the market size, the report provides actionable intelligence alongside the market size of various segments. To detail the major factors influencing the market (drivers, opportunities, industry-specific challenges, and other critical issues) and to track the competitive landscape of the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Corporate Game Based Learning Market 2017-2021
Technavio recognizes the following companies as the key players in the global corporate game based learning market: BreakAway Games, G-Cube, Growth Engineering, and PlayGen.
Other Prominent Vendors in the market are: Gamelearn, Indusgeeks Solutions, mLevel, StratBeans Consulting, and Wrainb.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is analytical applications in game-based learning. Big data plays a crucial role in every phase of online training provided to employees and has immense implications for the corporate sector. Various methods of providing training are followed with the help of online platform. Among them game-based learning is gaining exposure in varied sectors, including corporate sector. The adoption of these methods in workplaces produces large amounts of data about employee feedback, types of courses undertaken, and difficulties faced in understanding the training material. Organizations can extract and analyze the data with the help of learning analytics tools. Organizations can use the technology to monitor the learning activities of their employees. They can analyze the learning support required by employees as well as the enterprise areas needing additional focus that can result in modifying learning programs. The data collected offer a critical insight into the knowledge gaps that exists within organization employees as knowledge of such gaps only will lead to resolving the issues.”
According to the report, one driver in market is increased employee engagement during training. Organizations are facing various challenges in terms of enhancing their workplace culture, employee engagement, leadership, and learning and development. These aspects restrict internal and external growth of companies, as they inhibit productivity, which affects profit margins of companies. Therefore, businesses focus on engaging employees through constructive efforts. Companies are incorporating game-based learning methods as they offer learning via concepts of situated learning and constructivism. Constructivism refers to knowledge creation through visual interpretation of things, while learning in a real-life setting is known as situated learning. This kind of setting facilitates employees to practice and learn without failure. Traditionally, companies providing training and learning while explaining business processes to learners have been substituted with game-based learning, where learners are given the sole authority. Employees are given opportunities to practice and make mistakes, presenting to them real-life job issues. Simultaneously, the immediate progress feedback given to the players triggers their interest to play games. While playing, each step taken by the players displays their accountability while representing their abilities and knowledge. This factor also leads to enhanced employee engagement.
Further, the report states that one challenge in market is high cost of development. The process of developing games is expensive as it includes the cost of high-quality technical specifications, graphics, and animation. Developing a game is time consuming and requires expensive infrastructural additions, complex programming, and is required to ensure data integration and data quality. In addition, most vendors charge an additional amount for gaming software updates that include improved features. The game development involves the parameters of the type of games, technology, quality, and length of the game. Customers have various options of game types such as scenario, skilfulness, and action based that have different pricing. On an average, the cost of a game starts at $15,000, while custom-built games could cost from $50,000. In developing economies and other regions, this could be above the budget, resulting in low adoption. Though the benefits outstrip the costs of development, the initial amount of time and money devoted restricts organizations to undertake such initiatives.
BreakAway Games, G-Cube, Growth Engineering, PlayGen, Gamelearn, Indusgeeks Solutions, mLevel, StratBeans Consulting, and Wrainb.