“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).
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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.
Key Manufacturers Like
Scope of the Report:
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)
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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.
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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:
1.1 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
5.2.4 IT and Telecom
5.2.6 Other End-user Industries
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 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
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