Global Cyber security Insurance Market Size by Organization Size, by Industry, Region and Forecast 2019 to 2025. Global market have varying product lines, mostly depending on the customer requirements. The report also provides the various key strategies adopted by the leading players as the demand is growing from Asia-Pacific economies. Also, the market size has also been laid down based on the Porter’s Five Forces Analysis for the industry players’ decision making.
Cybersecurity insurance is a product that is growing quickly in terms of scope and size. Currently, it remains a niche product despite the fact that the vast majority of people have used the internet directly or indirectly at one point in their lives. The reason for the relatively limited coverage is primarily because both the service providers and customers are just becoming accustomed to the product.
Global Cyber security Insurance Market anticipated to grow with the highest CAGR of 25.3% in the forecast period 2018-2025.
Get more insights at: Cyber Security Insurance Market 2019-2025
Key Players: American International Group (AIG), The Chubb Corporation, XL Group, Travelers, Beazley, CAN, Liberty Mutual, BCS Insurance, AXIS Insurance Group and Allied World.
Global Cyber security Insurance Market can be further segmented on the basis of the organization size- SMEs, mid-market and large enterprises. Standalone cyber insurance solutions is a recent phenomenon and currently, the underwriting of cyber insurance is still limited due to immature and limited expertise. While the majority of the premium continues to come from the US, there are substantial signs of growth in Europe and Asia pacific which currently have a small base.
Furthermore, growing vulnerability of cyber exploitation due to rise in connected devices across the world and emergence of Internet of Things (IoT) have driven the majorly the Cyber security Insurance Market. Along with the investment in the Cyber security solutions, which include hardware and software solutions, companies have also started to take cyber insurance to mitigate risks. Even if the cyber insurance market is projected to grow in the future, there are quite a few challenges which need to be addressed by the insurers and mentioned further in the report.
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Based on the industry vertical the cyber insurance market can be further bifurcated into BFSI, ICT, healthcare, manufacturing, retail and others. Among these, BFSI sector had the highest market share in 2017 and will continue to dominate in the forecast period. ICT is poised to grow with the highest growth rate of 27.8% in the forecast period due to the fact that the amount of data generated by these companies is the largest and eventually more vulnerable to cyber-attacks. Healthcare segment is also expected to grow significantly due to the HIPAA regulation implemented in the North America.
Some Key Highlight Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Cyber security Insurance Market Overview, by Segments
Chapter 5. Global Cyber security insurance Market Overview, by Region
Chapter 6. Company Profiles
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