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
- The global economy continues to be impacted by the COVID-19; however, the video game industry is expected to grow significantly during the forecast period. Companies are seeing an increase in the number of users and rapid growth in the number of hours users spend playing online games, as governments around the world have mandated home quarantining to prevent the spread of the COVID-19. Furthermore, many gaming companies are making their online games available for free download.
- Moreover, due to the increasing spread of the COVID-19, the Game Developers Conference, which was originally scheduled for June 2020, had been officially postponed. Hardware production and supply chains of game developers were also affected by the pandemic.
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:
- This study presents an analytical depiction of the game developers insurance market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the game developers insurance market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on the present and future competitive intensity of the market.
Questions Answered in the Game Developers Insurance Market Research Report:
- Which are the leading players active in the game developers insurance market?
- What would be the detailed impact of COVID-19 on the game developers' insurance market?
- What are current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the game developers insurance market?
- What are the projections for the future that would help in taking further strategic steps?
Game Developers Insurance Market Report Highlights
| Aspects | Details |
 By Coverage |
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 By Device |
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 By Type |
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 By Region |
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 Key Market Players | Nova Gaming Ventures Private Limited, Ubisoft Entertainment SA, Beijing Babeltime Technology Co, Ltd, Konami Holdings Corporation, Electronic Arts Inc, Zeus Interactive Co., Ltd, Virtuos, GG Insurance Services, Square Enix Holdings Co, Ltd, Elex Technology Co, Ltd, Activision Blizzard, Inc |
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