Revenues for Serious Games will Surge to $28.8 Billion
Revenues for Serious Games will Surge to $28.8 Billion
Revenues for Serious Games will Surge to $28.8 Billion
April 30, 2020
Summary
The growth rate for Game-based Learning across the planet is quite high at 27.1% and revenues will more than quadruple to $28.8 billion by 2025, according to a new market report by Metaari called "The Worldwide 2020-2025 Game-based Learning Market." The revenues are heavily concentrated in North America and the Asia Pacific throughout the forecast period.
Revenues for serious games in Western Europe will be on par with the Asia Pacific by 2025.
"Our data gets more granular every year we analyze the industry. This report includes detailed five-year revenue forecasts for the top 63 buying countries: 10 countries in Africa, 12 countries in the Asia Pacific, 8 countries in Eastern Europe, 9 countries in Latin America, 7 countries in the Middle East, 2 countries in North America, and 15 countries in Western Europe. They are the top buying countries in the world. This is the most comprehensive learning game market report every published."
The growth rate for serious games in the US is a robust 29.2% and revenues will reach $7.5 billion by 2025.
In the 2020 serious game market, the US accounted for 24% of all global revenues.
By 2025, the US will account for 26% of worldwide revenues for learning games.
"These innovations are exponential in the sense that they are not small incremental linear innovations common to traditional products; they are fundamentally new types of learning products. The one common characteristic of these new learning technologies is that they enable real-time performance improvement."
In educational psychology, there are two phases of the learning process: knowledge transfer and learning transfer.
Learning transfer is the ability of the learner to demonstrate mastery in a real-world setting.
Metaari focuses solely on advanced learning technology research on products that utilize psychometrics, neuroscience, location-based learning, game mechanics, robotics, cognitive computing, artificial intelligence, virtual reality, and augmented reality.
Reference
Revenues for Serious Games will Surge to $28.8 Billion by 2025. (2020, April 30). Retrieved May 1, 2020, from https://www.benzinga.com/pressreleases/20/04/p15925735/revenues-for-serious-games-will-surge-to-28-8-billion-by-2025