Overview and Scope
The serious games refers to games that are designed to promote learning and behavior change. Serious games impart particular skills, knowledge, and attitudes and blend learning techniques, game mechanics, and knowledge and structures. The strength of serious games is that they are captivating, engrossing, and entertaining.
Sizing and Forecast
The serious games market size has grown exponentially in recent years. It will grow from $9.71 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to educational initiatives, healthcare training, corporate training and skill development, military and defense applications, employee engagement and productivity.
The serious games market size is expected to see exponential growth in the next few years. It will grow to $25.74 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to personalized learning solutions, healthcare patient care, diversity and inclusion training, global expansion of e-learning, rise of gamified assessments. Major trends in the forecast period include integration with artificial intelligence (AI), advancements in virtual reality (VR) and augmented reality (AR), increased access to technology, gamification in corporate training, cross-platform accessibility.
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Segmentation & Regional Insights
The serious games market covered in this report is segmented –
1) By Gaming Platform: Smartphone, Console, PC, Other Platforms
2) By Application: Simulation and Training, Research and Planning, Advertising and Marketing, Human Resources, Other Applications
3) By Industry Vertical: Education, Healthcare, Aerospace and Defense, Government, Retail, Media and Entertainment, Other Verticals
Asia-Pacific was the largest region in the serious games market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the serious games 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 adoption of virtual reality in training and development activities is expected to propel the growth of the serious games market. Virtual reality is an artificial world made with software and presented to the user in a way that causes them to suspend belief and take it for granted that it is real. Virtual reality offers a learning environment where people may experiment with new skills, fail safely, learn from their errors, and advance professionally. For instance, in April 2021, according to a study conducted by the Korea World Bank Partnerships Facility, a total of 72 experiments demonstrate that VR training is equally or even more effective than conventional training at enhancing student learning results. After finishing their courses, students who received VR training reported 20% improved levels of confidence and self-efficacy. Therefore, adopting virtual reality in training and development activities is expected to drive the serious games market growth.
Key Industry Players
Major companies operating in the serious games market report are IBM Corporation, Cisco Systems Inc., Nintendo Co Ltd., Grendel Games, Tygron BV, MPS Interactive Systems Ltd., Applied Research Associates Inc., Hourblast Games, Cole Engineering Services Inc., Diginext, Alelo TLT LLC, Tata Interactive Systems, Promotion Software GmbH, Next Games Ltd., In-Depth Engineering Corporation, iCivics Inc., Filament Games LLC, Can Studios Ltd., BreakAway Games Ltd., Chaos Theory Games, Learning Nexus Ltd., Akili Interactive Labs, Designing Digitally Inc., Triseum LLC, DFUSION Inc., Revelian Pty Ltd., Open Mind Innovation, Deus Marmota, L.I.B. Businessgames BV, CCS Digital Education Ltd., Vcom3D Inc.
The serious games market report table of contents includes:
1. Executive Summary
2. Serious Games Market Characteristics
3. Serious Games Market Trends And Strategies
4. Serious Games Market – Macro Economic Scenario
5. Global Serious Games Market Size and Growth
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31. Serious Games Market Other Major And Innovative Companies
32. Global Serious Games Market Competitive Benchmarking
33. Global Serious Games Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Serious Games Market
35. Serious Games Market Future Outlook and Potential Analysis
36.Appendix
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