The Serious Games Global Market Report 2023 by The Business Research Company, provides serious games market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Serious Games Global Market Report 2023, the market size is expected to grow from$8.31 billion in 2022 to $10.18 billion in 2023, at a compound annual growth rate (CAGR) of 22.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the serious games is expected to grow to $22.54 billion in 2027 at a CAGR of 22.0%.
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.
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The serious games market 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
The emerging technological infrastructure has emerged as a key trend in the serious games market. Major players in the serious games market are bringing innovations to games through cloud computing, virtual reality, the metaverse, and other technologies. The metaverse is a virtual world in which users can communicate with each other in a computer-generated environment. It gives real-time experience to the players and makes the games interactive. For instance, in March 2022, Amazon, a US-based multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence, launched AWS Cloud Quest. AWS Cloud Quest is a role-playing game played online to make it simpler for users to learn cloud computing techniques. The cloud practitioners can design their avatars that roam a virtual city and assist its inhabitants in resolving cloud-related technological problems. Users can gain additional character styles, pet companions, city themes, and virtual goods like a hoverboard and a unicorn pool float by completing Amazon Web Services simulations and challenge.
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. Serious Games Market Size And Growth
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26. Africa Serious Games Market
27. Serious Games Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Serious Games Market
29. Serious Games Market Future Outlook and Potential Analysis
30. Appendix
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