Gamification is the use of game-like elements in non-game contexts to encourage engagement and desired behaviors, like earning points for everyday tasks. Predictions indicate that by the end of 2014, over 70% of global organizations will implement gamified applications, with the market expected to reach $5.5 billion by 2018. Key concepts include user feedback, badges, leaderboards, and social recognition, with applications across various sectors such as banking, sales, and project management.