Market Analysis

The Overall Video Game Landscape

The video game industry has seen growth for a great number of years (Read, 2022). In 2021, the global video game market is valued at $195.65 billion USD (“Grand View Research”, n.d.). It is projected that the video game industry will have a compound annual growth rate of 12.9% from 2022 to 2030 (“Grand View Research”, n.d.) and is predicted to be worth $321 billion USD by 2026 (Read, 2022). Some of the trends that are contributing to the growth in the video game market are hardware and software innovations such as smart devices and immersive technology, ability to stream video games on a subscription model, the rise of Esports, and the popularity of micro-transactions and downloadable contents (Wise, 2022).

The Educational game Market

The global game based learning market is growing at a steady rate as well, with an expected value of $32.6 billion USD by 2027 (“KBV Research”, 2022). In the educational game market, game based learning and gamification takes form in “flashcard-type games like a duel, simulation games (Plantville), quiz games (Kahoot), interactives (Funbrain), reality testing games (chemistry VR), puzzles (crossword), and strategy games (Europa universals)” (“Report Linker'', 2022). Within the Apple App Store, 80% of the best selling games have an education focus targeted towards children (Shuler et al., 2012). Britain (2013) suggested that 70% of children aged 3-5 had access to a smart tablet at home. On top of that, Formby (2014) found that more than 80% of children aged 3-6 had access to a smart device at home or in school. With the increased availability of smart devices, these numbers are only going to increase. This will further contribute to the growth of the educational game market.

Educational Game Industry Leaders

The following are a number of key players in the global educational game industry (“Emergen Research”, 2022). They are divided into two categories of Gamification and Game Based Learning. For more information about each of the applications click on this link to navigate to the Resources page

Challenges and Opportunies

Challenges:

One of the major challenges of implementing game based learning and gamification within the classroom is cost considerations (“Allied Market Research”, 2022). Hardware and software are needed for the effective implementation within classrooms. On top of that, IT infrastructures will need to be set up for the safety of servers, networks, and proper access (“Report Linker'', 2022).

Kaimara et al. (2021) outlined a number of challenges regarding the implementation of game based learning technologies in classrooms in their article. One of the most important considerations mentioned was the educator’s attitude and beliefs towards game based learning. Many who do not play video games themselves often perceive it as a waste of time (Kort-Butler, 2020). Teachers who prefer traditional teaching methods have a hard time incorporating game based learning in their classrooms (Kaimara et al., 2021). Some educators lack the ICT expertise and training regarding the successful integration of digital games in their classes as well (Kaimara et al., 2021).

Opportunities:

With the growing trends in technology and elearning, there are many opportunities to be seized in the game based learning and gamification industries. Augmented reality and virtual reality have shown to be ground breaking in the video game industry (Wirtz, 2022). There have been more and more educational games released within those platforms.

The way learners are engaging their materials have shifted throughout the years. The bite-sized format has shown to be preferred by many learners in the current times (Manning et al., 2021). Companies like Udemy have successfully provided learners with educational content to be consumed in small chunks at their preferred time (Cloke, 2018).

Currently, video games on the market are not all made by established companies. The indie game movement has seen growth in recent years (Crogan, 2018). With the growing number of free game creation applications such as Game Maker Studio and Unity available on the market, it’s becoming easier for anyone to create video games and educational games (Cloke, 2018). This could offer students a new way of showing their learning, by making a game to showcase their understanding. Use this link for a list of game making applications accessible to students.