The global Cyber Insurance market size is expected to reach $39.50 Billion by 2028 growing at the CAGR of 23.19% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as
- High rate of recovery of financial losses to promote the growth of the market
- A surge in mandatory cybersecurity regulations and legislations to boost demand for insurance protection
- Driver 3
Further several factors restraining the market growth include
- Lack of awareness related to cyber insurance and reluctance in choosing cyber insurance over cybersecurity solutions
- Restrain 2
Collaborations and Alliances in the Cyber Insurance market are expected to generate higher avenues during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Cyber Insurance market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
In terms of COVID 19 impact, the Cyber Insurance market report also includes the following data points:
- Impact on Cyber Insurance market size
- End-Users Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in the Cyber Insurance market
Key Insight in the report:
The global Cyber Insurance market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.
Our report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. The Cyber Insurance market is analyzed across the below-mentioned different segments:
- Component
- Solution
- Service
- Others
- Insurance Coverage
- Data breach
- Cyber liability
- Others
- Insurance Type
- Packaged
- Stand-Alone
- Others
- End-User
- Technology provider
- Insurance provider
- Others
The Cyber Insurance market is also analyzed across the below-mentioned regions/countries:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
Some of the key players in the Cyber Insurance market include:
- Securityscorecard
- Cyber Indemnity Solutions
- CISCO
- Upguard
- Microsoft
- SentinelOne
- Accenture
- Kenna Security
- Cyberark
- BitSight
REPORT CONTENT BRIEF:
- High-level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Cyber Insurance market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding took an investment done, among others.
Target Audience
- Manufacturers
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding the industry dynamics of the Cyber Insurance market