According to research the global gamification market has been projected for epic growth with the industry set to increase at an annual growth rate of more than 99% through to 2016, with the gamification industry projected to reach an estimated value of $3.6 billion by 2017. That is huge!
Enterprises have an overwhelming need to optimize consumer engagement-which is one of the main factors behind this prediction of significant growth. According to presskontakt.se “Gamification provides an insight into the purchasing-related demand for various products.” Marketers are using this perception to devise marketing strategies for increased sales of their products and to urge increased consumer engagement for their brand.
The basic definition of Gamification is to use game-thinking and game mechanics in non-game contexts in order to engage users; this includes employees and consumers alike. Gamification is applied to company applications and processes to increase user engagement, employee engagement, data quality, learning, ROI and timeliness.
The ultimate goal of gamification is to maximize user brand and product engagement through the enabling of entertainment in which the user directly interacts with the brand in a fun and gratifying manner-thus increasing sales and brand loyalty.
Game mechanics such as leaderboards, achievement awards, and skill-based learning tools are quickly growing in day-to-day business processes. The key when using gamification is to evaluate user behavior patterns as a precursor to employing optimal game mechanics that align with user expectations and behavior.
The global gamification market has increased in a hurry, spreading from consumer and media brands to enterprise brands, healthcare and educational markets. The implementation of game mechanics in non-traditional industries has grown exponentially just in the past year.
In the global gamification market the trend of socialization, including personalization and content sharing via social media and similar platforms has been gaining tremendous power. The end result shows social media marketing with even more significance than ever before and is considered the next marketing platform that most companies are choosing to transition to.
Gamification remains a small part in the total market for video games and gaming, but its swift growth demonstrates the increasing social acceptance of gaming and the overall conclusion that game mechanics can be an influential instrument.
There are several companies that currently lead the global gamification market including: Badgeville Inc., Gigya Inc., Bunchball Inc., and BigDoor Media Inc.
For more information on the global gamification market, see the latest research: Global Gamification Market