Gamification Market which is set to $5.5 Billion By 2018
Gamification, despite the great deal of hype and glory, is amongst the most misunderstood catchphrases in the industry.
Gamification addresses the basic human instinct to get enticed by any novel, competitive, rewarding and fun idea, similar to what they experience while playing any game. It inculcates game mechanics such as points, badges, levels, ranks, avatars, virtual goods and a host of other motivational mechanics, most of them used in combination with each other or as a chain of events with one reward leading to another, on any existing website, e-commerce portal or enterprise application. It also refers to the social layer that involves engagement and loyalty, which exists on any enterprise or consumer-facing application.
Gamification Market solutions are fast gaining pace in the current engagement and loyalty ecosystem. These solutions are positioned as flexible and user-friendly tools that are focused on enhancing employee motivation or customer stickiness across all applications. Enhanced employee motivation drives overall employee productivity in gamification of enterprise applications. Customer stickiness drives customer acquisitions in the gamification of consumer facing applications.
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This solutions provide enterprises, e-commerce sites, websites or social sites with the fun and competitive elements that ‘game mechanics’ in this solution possesses. This, in turn, ensures user stickiness to any application. The solution acts as a performance management tool for evolving businesses, while also ensuring engagement, in terms of employee motivation in organizations and consumer loyalty in e-commerce applications. While consumer gamification market has been widely accepted and has emerged as a major market; enterprise gamification market is being adopted at a slower pace.