Kids Educational Games Market is expected to reach USD 20.58 billion by 2030
As per the report published by Kings Research, the global Kids Educational Games Market was valued at USD 4.19 billion in 2022 and is projected to reach USD 20.58 billion by 2030, growing at a CAGR of 22.59% from 2023 to 2030.
The increasing use of virtual reality (VR) in education is a significant trend, particularly for game-based learning. VR provides a unique and immersive experience for learners, enabling them to engage in simulated scenarios and environments that would otherwise be impossible to access. The adoption of VR in education has been facilitated by technological advancements that have led to the development of affordable and accessible VR equipment.
- Based on the game mode, the online games segment held the largest market share of 62.24% in 2022.
- Based on application, the quality-oriented education segment generated the highest revenue of USD 69 million in 2022.
- Based on the product, the subject-specific games segment held the largest market share of 53.37% in 2022.
- Based on the game type, the strategy games segment held the largest market share of 39.10% in 2022.
- On the basis of region, Asia Pacific accounted for the largest market share of 39.10% % in 2022.
Schell Games has launched VR Educational Game Called Lost Recipes
January 2022: Schell Games has released an upcoming VR educational game called "Lost Recipes" that will enable players to explore authentic cooking across different time periods and cultures.
Everi Holdings Inc., a provider of casino gaming content has agreed to acquire intellectual property and game development technology assets from Atlas Gaming Pty Ltd
January 2022: Everi Holdings Inc., a provider of casino gaming content and products in the US, has agreed to acquire intellectual property and game development technology assets from Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd. The acquisition is expected to strengthen Everi's in-house game development capabilities and expand its portfolio of titles, potentially opening doors for them to venture into new international educational games markets.
Rising Prevalence and Circulation of Unbranded and Counterfeit Educational Games to Hinder Market Growth
The growth of the kids educational games market has been impeded by the increasing prevalence and circulation of unbranded and counterfeit products. This issue has posed a significant challenge to the industry, as such products often lack the quality and safety standards required for children. The circulation of such gaming products can also create unfair competition for legitimate manufacturers, leading to a loss in revenue and a negative impact on the industry’s overall reputation. Addressing the issue of unbranded and counterfeit educational products is crucial to ensuring the safety and well-being of children and will be important in unlocking the business growth trajectory during the forecast period.
Increasing Technological Advancement to Propel Kid's Educational Games Market Growth
The kids educational games market share has been expanding rapidly due to increasing technological advancements that make it possible to incorporate interactive and engaging elements in educational games. This has further led to educational games being used more frequently as a teaching aid in schools, making learning experiences more fun and enjoyable for children. The implementation of education gaming has also been seen as a promising approach to bridging the academic disparities among students.
Additionally, the growing demand for strategy-based and educational-based games has led to a significant boom in the kids’ education games market. This trend is expected to continue as parents and educators increasingly recognize the benefits of educational games and their role in shaping a child's intellectual and academic abilities.
The Emergence of E-learning to Take Asia Pacific the Lead in the Educational Games Market with a Growing CAGR of 25.19%
The Asia Pacific has dominated the market in 2022 and is expected to grow at a CAGR of 25.19% from 2023 to 2030. The adoption of e-learning methods in several countries, particularly China and India, is a key driving force behind the educational games market's growth in the region. E-learning is a modern educational approach designed to provide learners with immediate access to educational resources using digital technologies. As a result, e-learning has become increasingly popular across the globe, especially in developing countries, where it can be challenging to provide access to traditional educational systems.
The Introduction of New and Inventive Products by Industry Participants has the Potential to Enhance the Growth of the Market
The kids educational games industry is fragmented with key players such as BreakAway Games, Designing Digitally Inc., IBM Corporation, Learning Nexus Ltd, Nintendo., Quickbase., Turtlediary.com., EI DESIGN PVT. LTD, Cisco Systems, Inc., and Centre for Civil Society. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.