Data Bridge Market Research analyses that the cyber insurance market is expected to reach USD 73368.28 million by 2030, which is USD 11998.53 million in 2022, at a CAGR of 25.40% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Cyber Insurance Market is the comprehensive market research report which studies the challenges, market structures, opportunities, driving forces, emerging trends, and competitive landscape of This industry. By taking into view specific base year and historic year, calculations in the report have been performed which interprets the market performance in the forecast years by giving information about what the market definition, classifications, applications, and engagements are. Besides, the report revises general market conditions, estimates market share and possible sales volume of This industry, figure out the probable market for a new product to be launched and discover the most appropriate method for the distribution of certain product.
The believable Cyber Insurance report offers remarkable data along with future forecast and thorough analysis of the market on a international and regional level. Few of the data models employed for the research methodology are vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. This global market report studies the trends in consumer and supply chain dynamics that have been observed to be helpful in developing production strategies for This industry. An excellent Cyber Insurance market report covers market shares for Global, Europe, North America, Asia Pacific and South America.
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Key Players Mentioned in the Cyber Insurance market Research Report:
- American International Group, Inc. (U.S.)
- Aon Plc (U.K.)
- IBM (U.S.)
- Check Point Software Technologies Ltd. (Israel)
- CyberArk Software Ltd. (U.S.)
- F5 Inc (U.S.)
- FireEye (U.S.)
- Forcepoint (U.S.)
- Fortinet Inc (U.S.)
- Amazon Web Services (U.S.)
- Oracle (U.S.)
- Palo Alto Networks (U.S.)
- Imperva (U.S.)
- Qualys Inc (U.S.)
- Accenture (Ireland)
- HCL Technologies Limited (India)
- Capgemini (France)
- Cognizant (U.S.)
- Symantec Corporation (U.S.)
- Broadcom (U.S)
- Wipro Limited (India)
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Cyber Insurance Market
Drivers
- Increasing usage of social media platform and easy access of personal information
Easy access of personal information and data over the internet and rising usage of social media platforms have encouraged the cybercriminals to commit crimes that largely involve the sale of the personal information such as identities, medical records, credit card numbers and many more on the dark web. As a result of all these factors, the demand for cyber insurance is rising in the market.
- Growing cyber risks
There are huge cyber threats owing to a large portion of the global population spending their maximum time on online platforms that can mainly drive the demand for cyber insurance. Several initiatives taken by regulatory and government organizations to strengthen defenses also spur the demand for cyber insurance in the market at a substantial pace. Surge of data privacy laws for instance the Europeans General Data Protection Regulation and Health Insurance Portability and Accountability Act can further facilitate the demand for the cyber insurance in the market during the forecast period.
Opportunities
- Growing usage of blockchain technology with artificial technology (AI) for risk analysis
Among the most recent innovative technologies, the blockchain technology and artificial technology (AI) technology are anticipated to give risk analytics solutions and generate new business opportunities for the market growth. The integration of these advanced technologies with risk analytics programs would support cybersecurity insurance companies with some of their most important issues. The growth of these modern and advanced technologies enables faster transactions and settlements, making it easier for their clients and financial institutions to perform transactions easily. Risk analytics solutions are very important to analyze claims, provide policy coverage, and manage reserves. Therefore the growing usage of blockchain technology with artificial technology (AI) for risk analysis will create immense opportunities for the growth of the cyber insurance market.
Restraints
- Issues associated with cyber insurance
Lack of expertise and technical knowledge along with growing concern regarding cybersecurity, data and information privacy will be considered major restraining factors for the market's growth during the abovementioned forecast period. Furthermore, absence of historical cyber and lack of understanding will become the biggest and foremost challenge for growth of the market.
This cyber insurance market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cyber insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Based on the Cyber Insurance Industry Market Segmentations:
Component
- Solutions
- Cybersecurity Insurance Analytics platform
- Disaster Recovery and Business Continuity
- Cybersecurity Solution
- Cyber Risk and Vulnerability Assessment
- Cybersecurity Resilience
- Services
- Consulting/Advisory
- Security Awareness Training
- Other
- Infrastructure Services
- Implementation
- Support and Maintenance
Insurance Type
- Packaged
- Standalone
Insurance Coverage
- Data Breach
- Data Loss
- Denial of Service and Down-Time
- Ransomware Attacks
- Others
- Third Party data
- Business Disruption
- Social Engineering
- Cyber Liability
Type
- Data Protection and Privacy Costs
- Non-compliance Penalty
- Brand and Related Intellectual Property Protection
- Others
- Human Error
- System Failure
- Controls Framework
- Inadequate IT Security Measures and Non-Security Related IT
- Source/target
- Internal
- External
Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
Application
- Information and Communication Technology
- Financial Services
- Manufacturing
- Retail
- Healthcare
- Others
Coverage Type
- First Party Coverage
- Theft and Fraud
- Computer Program and Electronic Restoration
- Extortion
- Forensic Investigation
- Business Interruption
- Third-Party Coverage
- Crisis Management
- Credit Monitoring
- Regulatory Response
- Regulatory Response
- Privacy, and Security Liability
- Network Security Liability
- Media and Communication Liability
- End user
- Technology Provider
- Insurance Companies
- Third-party administrators, brokers and Consultancies
- Government Agencies
- Insurance Provider
- Financial provider IT and ITES
- Healthcare and Life Sciences
- Retail and E-commerce
- Telecom
- Travel, tourism and Hospitality
- Others
- Education
- Manufacturing
- Energy and Utilities and Government
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Cyber Insurance Market Report Answers the Following Questions:
- How much revenue will the Cyber Insurance market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Cyber Insurance market?
- Which regions are currently contributing the maximum share of the overall Cyber Insurance market?
- What indicators are likely to stimulate the Cyber Insurance market?
- What are the main strategies of the major players in the Cyber Insurance market to expand their geographic presence?
- What are the main advances in the Cyber Insurance market?
- How do regulatory standards affect the Cyber Insurance market?
Table of Contents
Report Overview: It includes major players of the Cyber Insurance market covered in the research study, research scope, and Market segments by type, market segments by application, years considered for the research study, and objectives of the report.
Growth Trends: This section focuses on industry trends where market drivers and top market trends are shed light upon. It also provides growth rates of key producers operating in the Cyber Insurance market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the Cyber Insurance market are discussed.
Market Share by Manufacturers: Here, the report provides details about revenue by manufacturers, production and capacity by manufacturers, price by manufacturers, expansion plans, mergers and acquisitions, and products, market entry dates, distribution, and market areas of key manufacturers.
Market Size by Type: This section concentrates on product type segments where production value market share, price, and production market share by product type are discussed.
Market Size by Application: Besides an overview of the Cyber Insurance market by application, it gives a study on the consumption in the Cyber Insurance market by application.
Production by Region: Here, the production value growth rate, production growth rate, import and export, and key players of each regional market are provided.
Consumption by Region: This section provides information on the consumption in each regional market studied in the report. The consumption is discussed on the basis of country, application, and product type.
Company Profiles: Almost all leading players of the Cyber Insurance market are profiled in this section. The analysts have provided information about their recent developments in the Cyber Insurance market, products, revenue, production, business, and company.
Market Forecast by Production: The production and production value forecasts included in this section are for the Cyber Insurance market as well as for key regional markets.
Market Forecast by Consumption: The consumption and consumption value forecasts included in this section are for the Cyber Insurance market as well as for key regional markets.
Value Chain and Sales Analysis: It deeply analyzes customers, distributors, sales channels, and value chain of the Cyber Insurance market.
Key Findings: This section gives a quick look at important findings of the research study.
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