Gamification is certainly one of the buzzwords of 2013 so far. A new report has attempted to predict the size of the gamification market in the future.
The report, produced by global research company Markets and Markets, predicts that the gamification sector will be worth $5.5 billion by 2018, from the $421 million market it is today.
The annual growth rate of 67% is likely to be seen most prominently in the consumer goods and retail vertical, who are predicted to be the largest adopter of gamification concepts.
The report has similar findings to that of a report by M2Research that predicted a gamification market worth $2.8 billion by 2016.
Gartner meanwhile predicted that by 2014, 70% of large companies will have some application of gamification at work within their organisations, with the projects driving as much as 50% of innovation.
It's a perspective that's shared by many in the commercial world. Dan Brostek, head of member engagement at Aetna, is bullish about the possibilities with gamification.
“At Aetna we think gamification has the potential to help people improve their health by making it fun, rewarding and engaging.” he said.
Managers should be careful when implementing game dynamics into the workplace however, as research from the University of Washington cast doubt on the effectiveness of games in motivating employees.