SEATTLE, Oct. 23, 2019 /PRNewswire-PRWeb/ -- According to the new Metaari report "The 2019-2024 Global Game-based Learning Market", the worldwide five-year compound annual growth rate (CAGR) for Game-based Learning is a robust 33.2% and revenues will more than quadruple to well over $24 billion by 2024.
Metaari has revised our revenue forecasts for the global Game-based Learning market significantly upward from previous forecasts.
The Serious Play Conference is the exclusive reseller of Metaari's new worldwide learning game report. You can access the free Executive Overview and purchase the new report here:
http://seriousplayconf.com/downloads/2019-2024-global-game-based-learning-market/
"The new report has 491 pages, 126 forecast tables, and 21 charts," comments Adkins. "Over 2,100 serious game suppliers operating across the globe are identified in this report to help suppliers locate domestic resellers, distributors, and partners. It is the most comprehensive report of the international serious game market ever published. This is our fourteenth annual iteration of the report and our market data get more granular every time we update it. We have an unparalleled and breathtaking view of the global learning game industry."
The forecasts in this report breaks out retail revenues by eleven distinct educational game types based on Metaari's Pedagogical Framework for Game-based Learning. Revenues for these eleven game types are provided for all the regions combined and a separate breakout is provided for the United States. The framework was derived by reverse engineering high-demand commercial products.
"We have identified eight major catalysts driving the global Game-based Learning market. Two of the catalysts include a spike in large-scale distribution agreements and an intense period of merger and acquisition (M&A) activity," reports Adkins. "The number of large-scale distribution agreements between Game-based Learning companies and global partners spiked in 2017 and 2018. Educational games now reach billions of new users. The market for Game-based Learning is validated when large international companies acquire educational game developers. The big companies don't create markets; they wait until large revenues are clearly visible before they 'buy their way in'."
There are three sections in the report: a detailed analysis of the catalysts, a demand-side analysis, and a supply-side analysis. The demand-side analysis provides revenue forecasts for seven regions, fifty-two countries, and eight buying segments. The supply-side analysis provides five-year forecasts for eleven types of packaged learning games, custom content development services, and tools and platforms.
The US is the top buying country throughout the forecast period and a great deal of detail is provided for the US in the report including a five-year forecast for each of the buying segments and forecasts for each of the eleven types of serious games on the market. The report separates the PreK-12 forecasts by three sub-segments: preschool, primary, and secondary. The buying behavior is quite different in each academic sub-segment.
"This is the first serious game market report to forecast five-year revenues for AI-based learning games," adds Adkins. "It is a relatively new type of learning game that has just come on the market in the last three years. We are now able to calibrate revenues by analyzing the baseline data we have collected over the last three years. The global growth rate for AI-based learning games is a robust 34.6% and revenues will climb to just over $800 million by 2024. The growth rate in the US is dramatically higher at a breathtaking 56.5%."
About Metaari
Metaari (formerly Ambient Insight) is an ethics-based quantitative market research firm that identifies revenue opportunities for advanced learning technology suppliers. We track the learning technology markets in 126 countries. We have the most complete view of the international learning technology market in the industry. Metaari focusses solely on advanced learning technology research on products that utilize psychometrics, neuroscience, game mechanics, robotics, cognitive computing, artificial intelligence, virtual reality, and augmented reality.
SOURCE Metaari
Share this article