According to market analysts, IMARC, game-based learning revenues are set to reach $4.3 billion by 2024 (IMARC, 2019). Metaari (2019), in their market analysis of Game-based learning, which covers 2100 educational game developers in 122 countries, state that the industry is currently in a boom phase with global, regional and country market conditions favourable for suppliers of serious games and a compound annual growth rate of 33.2% is predicted. In fact, of the seven advanced learning technology products tracked by Metaari, this market has the highest projected growth.
The remarkable growth in the market can be attributed to continuous innovations that are being merged into the next-generation of educational games, which include augmented and virtual reality technologies. Novel integration of other technologies has seen the game-based learning market transform into a new type of advanced learning technology, which has in essence rebooted the segment’s life-cycle i.e. it has leveled up.
The Catalysts Driving the Game-based Learning Market according to Metaari (2019) are given below.
The remarkable growth in the market can be attributed to continuous innovations that are being merged into the next-generation of educational games, which include augmented and virtual reality technologies. Novel integration of other technologies has seen the game-based learning market transform into a new type of advanced learning technology, which has in essence rebooted the segment’s life-cycle i.e. it has leveled up.
The Catalysts Driving the Game-based Learning Market according to Metaari (2019) are given below.
Secondary catalysts include 5G networks, the Internet of Things and blockchain technologies. Since these areas are still facing their beginnings in game-based learning though, their potential impact is difficult to analyze at present.
The rest of the OER will be focused more specifically on the emerging market of mixed, augmented and virtual reality learning games. Driving the growth of the market has been the establishment of more cost-effective devices as well as the rapid development tools available to game designers, which have allowed them to get products to the market at an accelerated rate (Metaari, 2019).
We will now investigate in more depth the combination of these technologies into a new type of educational product that can be thought of in essence as game-based learning version 2.0.
The rest of the OER will be focused more specifically on the emerging market of mixed, augmented and virtual reality learning games. Driving the growth of the market has been the establishment of more cost-effective devices as well as the rapid development tools available to game designers, which have allowed them to get products to the market at an accelerated rate (Metaari, 2019).
We will now investigate in more depth the combination of these technologies into a new type of educational product that can be thought of in essence as game-based learning version 2.0.