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A video game developer is a software developer who specializes in video game development, which is the process of creating video games and related disciplines.  A game developer can be a single person handling all tasks to create a game. In addition, large corporation divides responsibilities among employees for various disciplines, programming, design, art, testing, and others. The majority of game development companies receive financial and marketing support from video game publishers, and it is the most expensive type of insurance. Most policies are sold on an annual basis, which is therefore expected to boost the game developer’s insurance market in the near future.
The global game developers insurance market share is segmented into coverage, device, type, and region. Based on coverage, the market is further segmented into professional liability, commercial property, workers’ compensation, and others. In terms of device, the market is bifurcated into console, mobile, and computer. Based on type, the market is segmented into online and offline. Based on region, the global market is divided across North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and Middle East & Africa.
COVID-19 Scenario Analysis
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increasing demand for streaming games and adoption of virtual reality (VR) & augmented reality (AR) technologies are driving the growth of the market. However, growing privacy concerns are expected to hamper the market growth. Contrarily, cross-platform publishing in the gaming industry can be seen as an opportunity for the market.
The game developers insurance market trends are as follows:
Cross-Platform Publishing:
Cross-platform publishing is expected to drive the video game market. To make gaming more flexible for users, companies in the games industry are launching cross-platform publishing and games. Through progress retention, cross-platform publishing allows players to play the same video games on different platforms. In addition, cross-platform play is a feature of a video game that allows players to play with each other on different gaming platforms at the same time, such as consoles, mobile, and personal computers. The rise of cross-platform gaming can be attributed to the development of scripting languages, software libraries, and game engines that allow personal computers game developers to take advantage of platform-specific information. These factors, therefore, promote the growth of the game developers insurance market revenue.
Growing Privacy Concerns:
Rising privacy concerns are expected to limit the growth of the game developers insurance market. This is attributed to the importance of using players' locations in massively multiplayer online role-playing games, the video game industry is facing increased privacy concerns. In addition, connectivity between video gaming platforms like consoles and social networking platforms such as Facebook, Twitter, and Skype is growing tremendously in the market. Some games, such as Pokémon Go, have come under fire for accessing users' contacts and giving full access to players' Gmail accounts during sign-up on iPhones. This unreliability in data collection, transmission, and security among video game players is expected to lead to the creation of stricter regulations and standards governing the collection of private data.
Key Benefits of the Report:
Questions Answered in the Game Developers Insurance Market Research Report:Â Â Â Â Â Â Â Â
Game Developers Insurance Market Report Highlights
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By Device |
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Key Market Players | Virtuos, Konami Holdings Corporation, GG Insurance Services, Nova Gaming Ventures Private Limited, Electronic Arts Inc, Zeus Interactive Co., Ltd, Activision Blizzard, Inc, Ubisoft Entertainment SA, Elex Technology Co, Ltd, Beijing Babeltime Technology Co, Ltd, Square Enix Holdings Co, Ltd |
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