$17 Billion Game-Based Learning Market – Global Forecasts from 2021 to 2026: Rise of Virtual Reality for Game-Based Learning – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Game-Based Learning Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global game-based learning market is expected to grow at a compound annual growth rate of 20.07% over the forecast period to reach a market size of US$17.079 billion in 2026, from US$4.747 billion in 2019.
The market is expected to surge at an exponential rate during the forecast period, because of the rise in the number of internet users, smartphone users, the popularity of online gaming and e-based learning, and others, worldwide.
Moreover, the growth of Virtual Reality (VR) and Augmented Reality (AR) in learning and education has helped in providing an interactive and immersive experience. Major companies have been spending a significant sum of capital on the development of novel and advanced game-based learning solutions and services for their customers.
For instance, Kahoot, an all-new and online game-based learning platform had been making significant developments in the market. It is a platform that allows users to create and build quizzes and games on any of their favorite subjects, in any type of language, in few minutes. The novel platform also allows users to add images, diagrams, and videos to their respective questions to increase and amplify engagement. These types of developments are expected to have a positive impact on the market, during the forecast period.
Rising number of internet and smartphone users
The market is expected to surge in the coming years, due to the rising number of internet and smartphone users, globally. According to the data given by the International Telecommunications Union 2020, 62.6% of Asia’s total population have internet access, and have a saw a growth of 2,268%, since the year 2000.
Europe and North America are also making significant developments, due to high disposable income, the presence of some of the global leading players, and other related factors. Europe and North America have an internet penetration rate of 87.1% and 89.9% in the year 2020.
Africa has a penetration rate of 43% in the same year. The rising internet penetration is expected to have a positive impact on the game-based learning market, in the coming years. The rising number of smartphone users is also expected to play a major role in the overall market growth, in the coming years. According to the data given by the United Nations, Eurostat, and other related agencies, there were approx. 5.27 smartphone or mobile users in the world in the year 2020, which represented around 67.1% of the population.
Moreover, the rise in urbanization is expected to play a major role, in the coming years. According to the World Bank, around 68% of the global population is expected to reside in urban areas by the year 2050, up from an expected 55% in the year 2019.
Urbanization leads to better income and economic prospects, modernization, and the adoption of novel and advanced technologies. Various studies and research have been conducted in the past few years to prove that online gaming-based education and learning enhances and expands student’s overall skills.
Rise of Virtual Reality for Game-Based Learning
There has been a surge in the rise of virtual reality for game-based learning, in the past few years. As an emerging novel and advanced platform, game-based virtual reality learning has the potential and ability to solve various difficult teaching problems. Various academics and institutions have been providing virtual game-based and augmented reality learning courses for their students.
For instance, Euro Pass Teacher Academy has been a virtual game-based learning course for its students. The academy’s course would teach learning reinforcements, learning chances, collaboration, autonomy, and stimuli, as a part of game-based learning. Other players are also making significant development in the market, in the past few years.
For instance, in April 2021, The Fox School of Business announced that it would offer virtual reality in one of their first and novel classes in the NBA, to bring students and learners together for the school’s discussion-based learning. These trends are expected to have positive developments for the market, during the forecast period.
- In May 2021, The Philippines Department of Trade and Industry announced that it would launch an interactive mobile tour guide app and game-based learning app for Expo 2020 Dubai Experience. The major aim of this development is to integrate the Philippines’ story of cultural sustainability with the use of technology, through engagement. This development is expected to enhance the country’s digital gaming services and solutions.
- In May 2021, Juana Technologies, a major training service, and consultancy provider announced the launch of India’s novel artificial intelligence courseware, known as Edufiq. The novel platform has been a game-based learning platform, and it has engaged children in the age group of 8-18 years old. This development is expected to have a positive impact on India’s game-based learning market, in the coming years.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Game Based Learning Market Analysis, By Product
5.2. Corporate Learning
5.3. Institutional Learning
5.4. Self-Paced Learning
6. Global Game Based Learning Market Analysis, by Geography
6.2. North America
6.2.1. United States
6.3. South America
6.5. The Middle East and Africa
6.6. Asia Pacific
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
- Dynamic Pixel
- Trainsmart Inc.
- Hurix Digital
- Tridat Technologies
- Syndicate Learning
- eLearning Brothers
For more information about this report visit https://www.researchandmarkets.com/r/tnm9fs
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