Game Based Learning Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Game-based learning is a teaching method that takes advantage of the power of games to define and support learning outcomes.

Sizing and Forecast
The game based learning market size has grown exponentially in recent years. It will grow from $14.13 billion in 2023 to $17.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%.  The growth in the historic period can be attributed to shift in educational paradigms, demand for interactive and engaging learning tools, focus on personalized learning, recognition of gamification benefits.

The game based learning market size is expected to see exponential growth in the next few years. It will grow to $42.46 billion in 2028 at a compound annual growth rate (CAGR) of 25.0%.  The growth in the forecast period can be attributed to focus on skill development, rise of mobile learning platforms, application in corporate training, incorporation of analytics and data-driven insights. Major trends in the forecast period include incorporation of storytelling elements, mobile game-based learning apps, competency-based learning games.

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Segmentation & Regional Insights
The game based learning market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Game Type: AR VR Games, AI-based Games, Location-based Games, Assessment and Evaluation Games, Training, Knowledge and Skill-based Games, Language Learning Games, Other Game Types
4) By End User: Consumer, Education, Government, Enterprises

North America was the largest region in the game-based learning market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the game based learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising focus on personalized learning is expected to propel the growth of the game-based learning market. Personalized learning is the process of customizing the learning according to the needs, interests, strengths, and skills of a student. The tasks are tailored as per the abilities and interests of the learners, which will shift responsibility for learning to the learner. Game-based personalized learning helps in enhancing the learning experiences in a more timely and proficient manner. It simulates the real-world experiences and applications for the facilitators and learners. For instance, according to the economic times, an Indian business-focused daily newspaper, in 2021, the private equity investments in EdTech companies focusing on personalized learning valued at around USD 5 billion. Therefore, the growing focus on personalized learning is driving the game-based learning market growth.

Key Industry Players
Major companies operating in the game based learning market report are Spin Master Corp., Mojang Studios AB, Kahoot! AS, Frontier Developments plc, G-Cube, Schell Games LLC, Hornbill FX Limited, LearningWare Inc., Banzai Labs Inc., StratBeans Consulting LLC, Raptivity Technologies Pvt. Ltd., MAK Technologies India Pvt Ltd, Tangible Play, BreakAway Games Ltd., Gamelearn S.L., Lumos Labs Inc., Classcraft Education Inc., Simulearn LLC, Growth Engineering Ltd, Playgen Limited, Kuato Studios Inc., Recurrence Inc., Fundamentor Learning Ltd., Will Interactive, Cognite ToyBox Inc., Indusgeeks Learning Solutions Pvt Ltd, MLevel GmbH, Gametize Learning Labs Inc., Games2Train, SCVNGR Inc.

The game based learning market report table of contents includes:
1. Executive Summary

2. Game Based Learning Market Characteristics

3. Game Based Learning Market Trends And Strategies

4. Game Based Learning Market - Macro Economic Scenario

5. Global Game Based Learning Market Size and Growth

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32. Global Game Based Learning Market Competitive Benchmarking

33. Global Game Based Learning Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Game Based Learning Market

35. Game Based Learning Market Future Outlook and Potential Analysis

36. Appendix

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