LOS ANGELES, Aug. 14, 2019 – Revenue for Serious Games or learning products that include the elements of game play, making education and training programs more interesting for participants, will climb to around $25 billion by 2024, according to Metaari, the leading analyst for the game-based learning industry.
Serious Play Conference has just released Metaari’s 2019-2024 Global Game-Based Learning Market study, covering revenue for 11 serious game categories; market trends, companies investing and opportunities for publishers. According to Metaari, the worldwide five-year compound annual growth rate (CAGR) for Game-Based Learning is a robust 33.2%, which suggests revenues will more than quadruple to more than $24 billion by 2024. This figure is significantly upward from the firm’s 2018 forecast.
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The new report has 491 pages, 126 forecast tables, and 21 charts and lists more than 2,100 Serious Game suppliers. The main body of the report has three sections: a detailed analysis of market catalysts, a demand-side analysis and a supply-side analysis. The demand-side analysis provides revenue forecasts for seven regions, 52 countries, and eight buying segments.
“Two of the catalysts were a spike in large-scale distribution agreements and an intense period of merger and acquisition (M&A) activity,” reports Adkins. “A market is validated when large international companies acquire small companies making products. Big companies wait until high revenues are clearly visible before they ‘buy their way in’.”
The Metaari Report is the first Serious Game Market report to forecast five-year revenues for AI-based learning games.
“AI is a relatively new type of learning game that has just come on the market in the last three years,” explains Adkins. “We calibrated revenues by analyzing the baseline data collected over the last three years, which showed that the global growth rate for AI-based learning games is a robust 34.6%. That suggests AI revenues will climb to just over $800 million by 2024. The growth rate in the U.S. for AI products is dramatically higher — a breathtaking 56.5%.”
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 122 countries. We have the most complete view of the international learning technology market in the industry. Metaari focuses solely on advanced learning technology research on products that utilize psychometrics, neuroscience, game mechanics, robotics, cognitive computing, artificial intelligence, virtual reality, and augmented reality.
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