Interest in Game-Based Learning Surges
The education sector is expected to see a massive surge in game-based learning over the next five years in the K-12 space.
According to a new forecast from market research firm Metaari, game-based learning will grow at a compound annual growth rate (CAGR) of 33.2 percent over the next five years, and revenues are expected quadruple to $24 billion by 2024.
Metaari attributes the growth in game-based learning to eight major catalysts, including private investment going to serious game developers, large-scale distribution agreements and interest merger and acquisition activity.
The United States is the top buying country for game-based learning. The report includes a five-year forecast for eight buying segments and 11 types of serious games on the market. The report also breaks down the forecasts into three subsegments: preschool, primary and secondary.
"This is the first serious game market report to forecast five-year revenues for AI-based learning games," said Metaari CEO Sam Adkins. "It is a relatively new type of learning game that has just come on the market in the last three years. We are now able to calibrate revenues by analyzing the baseline data we have collected over the last three years."
Adkins will present the key findings from the report at the Serious Play Conference in Orlando on July 26. The full report will be published by Serious Play Conference on Aug. 1.
Sara Friedman is a reporter/producer for Campus Technology, THE Journal and STEAM Universe covering education policy and a wide range of other public-sector IT topics.
Friedman is a graduate of Ithaca College, where she studied journalism, politics and international communications.
Friedman can be contacted at email@example.com or follow her on Twitter @SaraEFriedman.
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