At 24.9% CAGR Cyber Insurance Market Expected to Generate $28.60
Allied Market Research published a report, titled, “Cyber Insurance Market by Company Size (Large Companies and Small & Medium-sized Companies) and Industry Vertical (BFSI, IT & Telecom, Retail & E-commerce, Healthcare, Manufacturing, Government & Public Sector, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026.” According to the report, the global cyber insurance industry was estimated at $4.85 billion in 2018, and is expected to hit $28.60 billion by 2026, registering a CAGR of 24.9% from 2019 to 2026.
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The BFSI segment to lead the trail-
Based on industry vertical, the BFSI segment contributed to one-fourth of the global cyber insurance market share in 2018, and would maintain the lion’s share by 2026. Rise in incidences of data breaches in large volumes of customer data has augmented the growth of the segment. Simultaneously, the government & public sector would showcase the fastest CAGR of 27.5% during the estimated period. This is due to increase in cyber liabilities, data theft, identity fraud, and cyber-attacks, which has left cyber insurance coverages at the forefront of corporate governance in public sector companies.
North America garnered the highest share in 2018-
Based on region, North America held the major share in 2018, reaping more than two-fifths of the global cyber insurance market. Increase in data breach, cyber extortion and disruptive events across business sectors in this province have driven the market. The Asia-Pacific region, on the other hand, is predicted to register the fastest CAGR of 26.9% till 2026. Rapid technological developments such as automated production & technical processes and growing adoption of internet of things along with, stringent regulatory landscape for data protection have been driving the Asia-Pacific cyber insurance market.
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key Forces Shaping Cyber Insurance Market
3.2.1. Moderate-to-low bargaining power of suppliers
3.2.2. High bargaining power of buyer
3.2.3. Moderate threat of substitutes
3.2.4. High threat of new entrants
3.2.5. High competitive rivalry
3.3. Government Regulations
3.4. Market dynamics
126.96.36.199. Growth in cyber-attacks
188.8.131.52. Rise in mandatory legislations regarding cyber security
184.108.40.206. Lack of standardized policies
220.127.116.11. Expansion of products and services
18.104.22.168. Untapped potential of emerging economies
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Key Benefits for Stakeholders:
The study provides an in-depth analysis of the global cyber insurance market share along with the current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
An extensive analysis of the key segments of the industry helps to understand the global cyber insurance market trends.
The quantitative analysis of the global cyber insurance market from 2019 to 2026 is provided to determine the market potential.
Cyber Insurance Market Report Highlights
By Company Size
Small & Medium-sized Companies
By Industry Vertical
IT & Telecom
Retail & E-commerce
Government & Public Sector
Key Market Players Allianz, American International Group, Inc., Aon plc, AXA, Berkshire Hathway Inc, Lloyd’s of London Ltd, Lockton Companies, Inc, Munich Re, The Chubb Corporation, Zurich
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.