Level 4

Market Analysis

how big are video games?

In recent years, the video game industry has experienced a remarkable surge in market value, propelling it into the forefront of the global entertainment landscape. Fueled by technological advancements, evolving consumer preferences, and a growing esports culture, the market for video games has expanded drastically. The widespread adoption of high-performance gaming consoles, the proliferation of mobile gaming, and the rise of virtual reality have all contributed to the industry's recent growth. The video game market is expected to grow at a compound annual growth rate (CAGR) of 10.5% between now and 2032 as seen in the chart below.

games in education

global education

games market

This market is forcasted to reach to USD 93.53 billion by 2030 with a CAGR of 38.67%. The anticipated growth of the Global Educational Games Market is attributed to increasing demands for user engagement in enterprises, advancements in mobile-based educational games, and improvements in learning outcomes. The market is also driven by the widespread adoption of virtual reality in training and development activities, the surge in smartphone usage, a rising need for cost-effective training modules, and robust growth in research, planning, and technological infrastructure.

Life Cycle Model for Digital Learning Games

The table above represents the various phases of the proposed learning games life cycle model (Göbl, B. et al. 2022). This table provides insight into the process of building game-based learning resources and can expose some of their challenges as further described below.

Challenges and Opportunities

challenges

Commercial off the shelf (COTS) games are highly entertaining but can be limited in educational value or hard to implement in practice
Significant resources are needed when it comes to developing games that are dedicated to learning - a market that is much smaller than pure entertainment games
Game ageing - "the limitation of the usability of games due to domain or technical obsolescence" (Söbke, H. 2018)
Hardware and software limitations within districts and schools
Ensuring the ethical use of data collection

opportunities

The rise in AR and VR technology offers new learning opportunities that have not been possible in the past
New technologies such as Unity, Game Maker Studio, and Godot allow for a simpler process for creating 2D and 3D games
Unlike traditional modes of teaching, GBL provides "constructive, frequent, and immediate feedback" (Jain & Dutta, 2019)
Potential for games to be developed and applied in cross-cultural settings, including international or intercultural education, with the aim of cultivating intercultural awareness and sensitivity among learners
Multiplayer or collaborative games promote teamwork and communication skills through reaching common goals

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