GameFi (GAFI) Market to surpass USD 74. 2 billion by 2031 from USD 8. 9 billion in 2021 at a CAGR of 23. 7% in the coming years, i. e. , 2021-2031. Product Overview GameFi is a combination of the words "game" and "finance," and is one of the hottest buzzwords in the cryptoverse.
New York, June 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GameFi Market: Segmented: By Deployment Mode, By Enterprise Size, By End-Use Industry, And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031" - https://www.reportlinker.com/p06288831/?utm_source=GNW
It refers to the gamification of financial systems in order to generate profit from play-to-earn cryptocurrency games. GameFi video game initiatives are designed on the distributed ledger of the blockchain, allowing players to enjoy verified ownership of virtual items in the game. Unlike traditional gaming, where users play to win, GameFi programs encourage users to play to earn. Early Minecraft servers coupled with Bitcoin, Gambit.com, online games like Bombermine, and peer-to-peer systems where gamers monetize their online activities are all examples of the GameFi concept.
GameFi (GAFI) Market is expected to project a notable CAGR of 23.7% in 2031.
The widespread use of cellphones, for example, has substantially improved the possibilities for GameFication. Furthermore, as customers and employees migrate from desktop computers to mobile phones and internet devices, banks have a useful platform to draw consumer interest and enhance conversion/usage. Furthermore, the platform’s integration with social networking sites has enabled users to share their experiences with friends, acquaintances, and coworkers, broadening the platform’s reach and effectiveness.
Global GameFi (GAFI) Market: Segments
Cloud segment is expected to grow with the highest CAGR during 2021-31
On the basis of Deployment Mode, the global GameFi (GAFI) Market is fragmented into On-Premises, and Cloud. During the forecast period, the cloud segment is expected to create the most revenue. This is due to the growing demand among SMEs for safe and trustworthy solutions. Furthermore, most businesses are expected to leverage cloud-based GameFication technology to develop collaborative user experiences.
Telecom segment is expected to grow with the highest CAGR during 2021-31
Global GameFi (GAFI) Market is classified on the basis of End-Use Industry into Banking, Retail, Government, Education, IT and Telecom, Healthcare, and Others. During the projection period, the telecom segment is expected to develop at the quickest CAGR. This is due to an increase in the number of subscribers who have had consistent experiences. Customers have become more aware of and willing to use several services, so businesses must include GameFication into their business strategies.
Increasing applications and adoption of the GameFi (GAFI) in the healthcare
The widespread use of cellphones has dramatically expanded GameFication’s possibilities. People are known to check their phones more than 80 times every day on average. Furthermore, as customers and employees migrate from desktop computers to mobile phones and internet devices, banks have a useful platform to draw consumer interest and enhance conversion/usage.
Benefit of Social Networking Sites to Connect
Users can now share their experiences with friends, acquaintances, and coworkers thanks to the platform’s integration with social networking sites. Another advantage is that mobile apps allow marketers to conduct surveys, even if they are only one question long, collecting firsthand data from their target population and tailoring their efforts accordingly.
Number of Issues with Output and Design Considerations
Designing in GameFication is an important part of achieving the intended outcome. Designers, on the other hand, have been accused of failing to create unique and sophisticated designs that are tailored to the demands of each company. This could make it more difficult for the market to embrace remedies. Even if a solution is created for a specific industry, it will not generate the intended outcomes for other audiences, making development challenges. As a result, to get the desired effect, a properly developed design with good implementation is required; otherwise, the result will be jeopardized, and the market will grow slowly.
Global GameFi (GAFI) Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
MPS Interactive Systems
Callidus Software Inc.
Other Prominent Players
Global GameFi (GAFI) Market: Regions
Global GameFi (GAFI) Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the worldwide GameFi market in 2021, and this trend is expected to continue throughout the forecast period. This can be attributed to the region’s significant adoption of customer-based and enterprise-based solutions. Furthermore, developed countries are using GameFication technologies to better their marketing efforts by improving advertising, consumer contact, branding, and sales. Furthermore, the quick expansion of the GameFication market has been assisted by the growing popularity of cloud-based GameFied solutions among businesses, owing to their low deployment costs.
Impact of COVID-19 on GameFi (GAFI) Market
The Covid-19 pandemic has wreaked havoc on the global economy and supply system. Large organizations have been forced to make significant and time-sensitive strategic decisions as a result of the outbreak. Employees in practically every industry have chosen to work from home. For management and workers, maintaining a constant link with the remote site is a huge challenge. Furthermore, the spread of the virus is instilling dread in the population, and the financial crisis is placing a strain on employees. Organizations are currently concentrating on improving employee morale and motivating employees to complete assigned duties. GameFication software can assist companies to encourage their employees during times of crisis. The program assists team members in creating a cohesive environment, allowing them to achieve their objectives more rapidly.
Global GameFi (GAFI) Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Southeast Asia, and Rest of Asia Pacific
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – GCC, South Africa, and Rest of Middle East and Africa
Global GameFi (GAFI) Market report also contains analysis on:
GameFi (GAFI) Market Segments:
By Deployment Mode
By Enterprise Size
Small and Medium Enterprises
By End-Use Industry
IT and Telecom
GameFi (GAFI) Market Dynamics
GameFi (GAFI) Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
GameFi (GAFI) Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 8.9 billion
Revenue forecast in 2031 USD 74.2 billion
Growth Rate CAGR of 23.7% from 2021 to 2031
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Deployment Mode, Enterprise Size, End-Use Industry, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Microsoft, SAP, Verint, Aon, Centrical, MPS Interactive Systems, LevelEleven, Axonify Inc., GameFier, IActionable, Xoxoday, Tango Card, Callidus Software Inc., and Other Prominent Players.
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