Press "Enter" to skip to content

Global Cyber Security Insurance Market 2021 analysis with Key Players, Applications, Trends and Forecasts

Cyber Security Insurance

Cyber Security Insurance Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Cyber Security Insurance market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

Request a sample copy of the report – https://www.absolutereports.com/enquiry/request-sample/13999451

Key Market Trends:

Healthcare Segment is Estimated to Hold a Significant Share of the Market Studied

Due to data proliferation, healthcare is emerging as a significant market for the global cyber security insurance market. Digitization has exponentially increased the volume and speed of healthcare data generation. As much as 80% of the data generated by the healthcare industry is likely to be in the cloud by 2020. Security is also becoming a major concern.
According to the HIPAA report, 2018 witnessed a 157.67% year-over-year surge in the number of exposed healthcare records in the United States.
Accenture’s 2018 Healthcare Workforce Survey on cyber security found that almost 18% of healthcare employees were willing to sell confidential data to unauthorized parties, for as little as USD 500 to USD 1,000. This has increased the need for internal cyber security as an immediate solution.
In one Telehealth survey, 69% of the patients expressed that they prefer getting medical care without visiting the hospital. The telemedicine market is expected to grow at a healthy rate, since more insurance companies are now offering coverage for these visits as well.

to Hold the Major Share in the North American Region

The is the largest market for cyber security insurance. Moreover, the country has a strong foothold of cyber security insurance vendors, which adds to the growth of the market. Some of them include XL Group Ltd, American International Group Inc., Berkshire Hathaway Inc., Security Scorecard, and Lockton Companies Inc., among others.
The growth in the number of data breaches is pushing many organizations to take cyber security insurance policies. For instance, Equifax, one of the largest credit agencies in the country, in 2017, suffered a breach that affected approximately 143 million consumers. JPMorgan also witnessed one of the biggest bank breaches in history, as hackers got access to the financial information of 3,500 customers.
According to the Identity Theft Resource Center, in 2016, around 1,093 data breaches were recorded in the United States, with 36.6 million records exposed. On the other hand, approximately 1,579 data breaches were reported in 2017, with at least 178.96 million total records exposed, thereby, indicating an exponential increase in breaches.

Market Overview:

  • The cyber security insurance market was valued at USD 5.48 billion in 2018, and is expected to reach USD 20.72 billion by 2024, registering a CAGR of 24.30%, during the forecast period (2019-2024). The trending digitalization, such as the cloud, Big Data, mobile technologies, IoT, and artificial intelligence (AI), in ever more areas of business and society, and the growing connectivity of everything, have increased the workload of already strained IT teams.
  • Cases of unauthorized stealing or accessing sensitive business data, like intellectual properties, employees’ personal information, or even financial records, have been rising, which, in turn, is driving the cyber security insurance market.
  • Cloud computing is one of the most rapidly growing recent technologies, eliminating the traditional boundaries of IT, creating new markets, spurring the mobility trend, enabling advances in unified communications, which is another driver for the cyber security insurance market.
  • According to Kaspersky Lab, in the foreseeable future, around 75% of companies are expected to move applications to the cloud. This rising adoption of cloud solutions, by companies operating all over the world, often faces a lack of attention to the levels of security offered by adopted solutions. Also, cloud applications are more prone to cyber risks.

    Key Manufacturers Like 

  • XL Group Ltd
  • American International Group Inc.
  • Lloyds Bank PLC
  • Zurich Insurance Co. Ltd
  • The Chubb Corporation
  • AON PLC
  • Beazley Group
  • Lockton Companies Inc.
  • Security Scorecard
  • Allianz SE
  • Munich Re Group.

    Scope of the Report:

  • Cyber security insurance is a contract that an individual or entity can purchase to help reduce the financial risks associated with doing business online. In exchange for a monthly or quarterly fee, the insurance policy transfers some of the risks to the insurer. Many companies purchase cyber security insurance policies to cover extra expenditures that could result from the physical destruction or theft of digital assets. Such expenditures typically include the cost of notifying customers that a security breach has incurred, as well as the cost of regulatory compliance fines.
  • To qualify for coverage, the individual or entity typically has to submit to a security audit by the insurance company or provide documentation with the assistance of an approved assessment tool, such as that offered by the Federal Financial Institutions Examination Council. Many cyber security insurance policies only cover first-party losses to a company. Some policies, however, may also cover third-party liability losses.

    Cyber Security Insurance market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Cyber Security Insurance market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Cyber Security Insurance market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Inquire Or Share Your Questions If Any Before The Purchasing This Report – https://www.absolutereports.com/enquiry/pre-order-enquiry/13999451

    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Cyber Security Insurance market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Cyber Security Insurance market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Cyber Security Insurance?
    • Who are Opportunities, Risk and Driving Force of Cyber Security Insurance market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Cyber Security Insurance space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Cyber Security Insurance market opportunities, market risk and market overview of the Market?

    Lastly, the Global Cyber Security Insurance Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

    Purchase This Report (Price 4250 USD for single user license) – https://www.absolutereports.com/purchase/13999451   

    Study objectives of Cyber Security Insurance Market Report:

    • To provide a detailed analysis of the market structure along with the Cyber Security Insurance market forecast of various segments and sub-segments of the Cyber Security Insurance market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Cyber Security Insurance market trends that influence the global Cyber Security Insurance market

    Detailed TOC of Cyber Security Insurance Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Adoption of Cloud-based Services
    4.2.2 Rising Data Security Breaches
    4.3 Market Restraints
    4.3.1 Difficulties in Implementing Cyber Insurance and High Costs
    4.4 Value Chain / Supply Chain Analysis
    4.5 Porter’s Five Forces Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By rganization Size
    5.1.1 Small and Medium Enterprises (SMEs)

    5.1.2 Large Enterprises
    5.2 By End User Industry
    5.2.1 Healthcare

    5.2.2 Retail

    5.2.3 BFSI
    5.2.4 IT and Telecom

    5.2.5 Manufacturing

    5.2.6 Other End-user Industries

    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 United Kingdom
    5.3.2.3 France
    5.3.2.4 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 India
    5.3.3.2 China
    5.3.3.3 Japan
    5.3.3.4 Singapore
    5.3.3.5 Rest of Asia-Pacific
    5.3.4 Rest of the World

    6 MARKET OPPORTUNITIES AND FUTURE TRENDS

    7 COMPETITIVE LANDSCAPE
    7.1 Company Profiles
    7.1.1 XL Group Ltd
    7.1.2 American International Group Inc.
    7.1.3 Lloyds Bank PLC

    7.1.4 Zurich Insurance Co. Ltd

    7.1.5 The Chubb Corporation

    7.1.6 AON PLC

    7.1.7 Beazley Group

    7.1.8 Lockton Companies Inc.
    7.1.9 Security Scorecard

    7.1.10 Allianz SE

    7.1.11 Munich Re Group

    8 INVESTMENT ANALYSIS

    9 MARKET OPPORTUNITIES AND FUTURE TRENDS

    Purchase This Report (Price 4250 USD for single user license) –https://www.absolutereports.com/purchase/13999451

     

    Contact Us:

    Name: Ajay More

    Phone: US +14242530807/ UK +44 20 3239 8187

    Email: [email protected]

    Our Other report :
    Wire and Cable Plastics Market Sales Outlook; Up-to-date Development Data and Market Trends Forecast from 2021-2027

    Global Lemon Essential Oil Market 2021 : Share, Size, Regional Trend, Future Growth, Leading Players Updates, Industry Demand, Current and Future Plans by Forecast to 2026

    Global Pouches with Twist Tops Market Trend by 2026: Market Share, Segmentation, Market Growth and Competitive Landscape| Development Strategy Pre and Post COVID-19

    Raised Access Flooring Market Size – Worldwide Industry Growth, Share, Size, Trends, and Competitive Landscape Estimates to 2027

    Strip-Tiller Market 2027: Top Companies, Regional Growth Overview and Growth Factors Details by Regions, Types & Applications

    Global PEGylated Proteins Market Share, Growth, Trend Analysis and Forecast from 2021-2027; Consumption Capacity by Volume and Production Value

    Linear Motion Bearing Market, COVID-19 Impact, 2021 Global Industry Size, Demand, Growth Analysis, Share, Revenue and Forecast 2027

    Global Liquid Manifolds Market Analysis and Forecast to 2027 by Recent Trends, Developments in Manufacturing Technology and Regional Growth Overview

    Remdesivir Market Growth and Size Forecast 2021 Trending Technologies, Key Players Analysis, and Industry Insights by 2027

    Key Trends of Auto Parts Cleaning Machine Market 2021|Market Share by Business Opportunities, Market Dynamics, Growth Size and Estimate to 2026

    One-way Perspective Glass Market Industry 2021, COVID-19 Impact, Global Market Growth, Size, Demand, Trends, Insights and Forecast 2027

    Relay Test Equipment Market 2021: global Industry Updates, Upcoming Growth, Prominent Players, Forthcoming Development, Business Prospects and Future Investments by Forecast to 2027