Global Cybersecurity Insurance Market By Overview
Introduction:
The Cybersecurity Insurance is the new phase policy which tries to safeguard online users from online criminal acts. Also, it is a vital risk management tool for IT companies, tech companies, and any other company that has access to a lot of personal information, sensitive information. (Such as confidential information about their customers and the company emerging content and transactional exposures have a responsibility to keep it secure.) This insurance product is intended to mitigate losses from a data breach, network damage or other cyber disruption such as a hack that keeps systems down causing loss of revenue. The industry is growing and making innovation by more robust offerings to its products.Cybersecurity Insurance Market was valued at US$ 17 billion in 2024 and is projected to grow at a CAGR of 21.0% to reach US$ 114.5 billion by 2034.
Drivers and Restraints:
Cybersecurity insurance is a new and developing industry. Many security/data obstacles affect millions of records a year and these obstacles continue to rise at a dramatic rate which led to driving the growth for the target market. For instance according to SELFKEY FOUNDATION,- Around 7.9 billion records, including credit card numbers, home addresses, phone numbers and other highly subtle information, have been exposed through data breaches in 2019. Additionally the introduction of viruses and unauthorized access making an addition to support the market growth. For instance, According to WebsiteBuilder.org, 78% of organizations were the victim of a cyber-attack in 2018. Moreover Due to rising in such above incidence the adoption of Cybersecurity policies is growing. Furthermore, the Cybersecurity policies are changing and the players in the market are offering new product stubble for the dynamic and fluctuating nature of the associated cyber-risks.
Segmentation:
The Cybersecurity Insurance market is segmented based on by Organization Size, by end-user industry, and region.
The North America region is accepted to dominate the target market. Owing to the presence of a majority of the market leaders, such as (These include XL Group Ltd, American International Group Inc., Berkshire Hathaway Inc., Security Scorecard) who have constantly incorporated this technology to enhance their customer service, product offerings supporting in the adoption of this technology. Additionally, the rising incidence of cyber attract is a major factor driving the growth for the target market in the region for instance according to BestVPN.org. The U.S. has most affected by coordinated cyber-attacks, facing around 303 attacks from 2015 to 2017.By organization size, the cybersecurity insurance market is classified into small and medium enterprises (SMEs), and large enterprises. By end-user, the Cybersecurity Insurance market is classified into Healthcare, Retail, BFSI, IT and Telecom, Manufacturing, Other End-user Industries. Healthcare Segment is projected to hold a significant Share In the forecast period. Owing to rising digitalization and increased the volume and speed of healthcare data generation which increase the cybersecurity obstacle. For instant according to pokemon Institute report shows that 89 % of healthcare organization had patient data lost or stolen in the past two years.
Key Players:
The key players operating the Cybersecurity Insurance market involves 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 and Munich Re Group. The player in the market is focusing on partnership, business expansion and development in the product offering. For example, in September 2019 AXA XL has announced it will provide cybersecurity services to its clients via a new partnership with professional services firm Accenture.
Detailed Segmentation:
Cybersecurity Insurance Market, By Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Cybersecurity Insurance Market, By End-User:
- Healthcare
- Retail
- BFSI
- IT and Telecom
- Manufacturing
- Other End-user Industries
Cybersecurity Insurance Market, By Region:
- North America
- North America Cybersecurity Insurance Market, By Organization Size
- North America Cybersecurity Insurance Market, By End-User
- North America Cybersecurity Insurance Market, By Country
- U.S.
- Canada
- Europe
- Europe Cybersecurity Insurance Market, By Organization Size
- Europe Cybersecurity Insurance Market, By End-User
- Europe Cybersecurity Insurance Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific Cybersecurity Insurance Market, By Organization Size
- Asia Pacific Cybersecurity Insurance Market, By End-User
- Asia Pacific Cybersecurity Insurance Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Cybersecurity Insurance Market, By Organization Size
- Latin America Cybersecurity Insurance Market, By End-User
- Latin America Cybersecurity Insurance Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa Cybersecurity Insurance Market, By Organization Size
- Middle East & Africa Cybersecurity Insurance Market, By End-User
- Middle East & Africa Cybersecurity Insurance Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Company Profile:
- XL Group Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- 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.
“*” marked represents similar segmentation in other categories in the respective section.
Global Cybersecurity Insurance Market By Table of Contents
Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Cybersecurity Insurance Strategies
- Key Questions this Study will Answer
- Market Snippet, By Organization Size
- Market Snippet, By End-User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Cybersecurity Insurance Market, By Organization Size, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Small and Medium Enterprises (SMEs)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Large Enterprises
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Cybersecurity Insurance Market, By End-User, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Healthcare
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Retail
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- BFSI
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- IT and Telecom
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Manufacturing
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Other End-user Industries
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Cybersecurity Insurance Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Organization Size, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Organization Size, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Organization Size, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Organization Size, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Organization Size, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- XL Group Ltd
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- Company Overview
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- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
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- 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.
- The Last Word
- Future Impact
- About Us
- Contact