Serious-Games Market Worth $5.4 Billion by 2020
Dallas, TX (USA), June 2015 - According to the new market research report "Serious Game Market by Vertical (Education, Corporate, Healthcare, Retail, Media and Advertising), Application (Training, Sales, Human Resource, Marketing), Platform, End-User (Enterprise, Consumer), and Region - Forecast to 2020", published by MarketsandMarkets, the serious game market is estimated to reach $5,448.82 million by 2020, at a CAGR of 16.38% between 2015 and 2020.
The report covers different type of verticals, namely, aerospace and defense, automotive, corporate, education, energy, government, healthcare, retail, media and 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, such as 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 market.
This report describes the drivers, restraints, opportunities, and challenges with respect to the serious-game market. The factors driving this 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 improper game design, a lack of awareness about serious games, and a 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. However, end users in this market face a big challenge in the form of a lack of availability of direct-to-consumer-based serious games.
The major players involved in the development of 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.