Revenue for game-based learning and education is projected to reach more than $24 billion by 2024, according to a new market forecast.
Metaari’s 2019-2024 Global Game-based Learning Market study, released by Serious Play Conference, notes that growth in AI game-based learning also is expected to skyrocket, analysts say. The report notes that game-based learning is defined as a knowledge transfer method using “game play” involving some form of competition (against oneself or others) and a reward/penalty system that essentially functions as an assessment method to quantify mastery.
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Game-based learning, though, is quite different from gamification. In gamification, game-like features such as badges and points are tacked onto traditional education content. Gamified courses are not games, but legacy products with gaming artifacts.
Advances in game-based learning and AI
“AI is a relatively new type of learning game that has just come on the market in the last three years,” says Sam S. Adkins, CEO and chief researcher at Metaari. “…The global growth rate for AI-based learning games is a robust 34.6 percent. That suggests AI revenues will climb to just over $800 million by 2024. The growth rate in the U.S. for AI products is dramatically higher–a breathtaking 56.5 percent.”