Dallas, Texas (PRWEB) June 05, 2013
Gamification refers to the social layer that involves engagement and loyalty, which exists on any enterprise or consumer-facing application. Gamification at its core is a marketing tool, which is used to engage customers to a particular brand in consumer gamification and engage employees with the organizational strategies and plans in employee gamification. The traditional way of engagement is to advertise the product or ideas and flash it across the portal or website. Retaining attention and driving real results remained a challenge in traditional loyalty programs such as campaigns.
The Gamification market is estimated to grow from $ 421.3 million in 2013 to $ 5.502 billion in 2018. This represents a compound annual growth rate (CAGR) of 67.1% from 2013 to 2018. In the current scenario, the consumer goods and retail vertical continues to be the largest adopter of gamification solutions. In terms of regions, North America is expected to be the biggest market, followed by Europe and Asia-Pacific.
Gamification addresses the basic human instinct to get enticed by any novel, competitive, rewarding and fun idea, similar to what they experience while playing any game. Gamification market (http://www.reportsnreports.com/reports/250076-gamification-market-consumer-gamification-enterprise-gamification-by-deployment-on-premise-on-demand-application-marketing-sales-hr-support-and-development-size-smb-enterprise-worldwide-market-forecasts-and-analysis-2013-2018-.html) inculcates game mechanics such as points, badges, levels, ranks, avatars, virtual goods and a host of other motivational mechanics, most of them used in combination with each other or as a chain of events with one reward leading to another, on any existing website, e-commerce portal or enterprise application.
While consumer gamification drives consumer purchases and new referrals from the prospective customers; employee gamification can drive employee motivation to align their behavior with organizational strategies, tasks and disciplinary plans thereby resulting in better acceptance of management plans along with increased productivity and low attrition. These solutions provide businesses with several advantages including increased transparency, better communication of business ideas and information, quicker adoption and alignment of management interests with end-user motives and quicker ROI at the core of the process.
Location Based Services (LBS) have further enhanced the adoption of gamification solutions making it accessible over various devices such as desktops, mobile devices, smartphones and tablets. While businesses across the globe are looking at including gamification in their current scenarios, gamification vendors are looking at gaining a better competitive advantage in the emerging market, by creating new technological features or focusing their expertise on niche markets that facilitate the acceptance of these.
This research believes that appropriate game design, per application per organization, based on the customer culture or end-user requirements can ensure the success of gamification applications in the long run. Continuous monitoring of user engagement, on a regular basis, so as to modify and evolve game mechanics, over a period of time, will assist with better game design and thereby contribute to the success of gamification applications. Successful gamification applications based on the customer culture or end-user requirements can ensure the success of gamification applications in the long run and can drive real business goals and revenues thereby enhancing the brand name.
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This research report categorizes the global market for gamification for forecasting the revenues and analyzing the trends in each of the following sub-markets:
On the basis of type of End-Users: