Cyber Insurance Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Cyber Insurance Market to surpass USD 22.5 billion by 2030 from USD 4.3 billion in 2018 at a CAGR of 26.2% throughout the forecast period, i.e., 2019-30.

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Description

Cyber Insurance Market: Market Segments: By Policy (Data Breach, Identity Theft, Malware Attack, Phishing and Email Spoofing); By Organization Size (Large Enterprises, and Small and Medium-sized Enterprises (SMEs)); By Product Type (Standalone and Integrated); By Application (BFS, Retail, BFS, IT & ITeS, Healthcare, and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Product Overview
Cyber insurance is meant to assist a corporation with cyber-related security violations or similar occurrences. It offers first-party coverage and third-party claims to mitigate liability exposure by offsetting the costs of recovery from internet-based cyber losses. It usually entails damages from violations of network security, loss of privacy, reimbursement from data breach litigation, and others.
Market Highlights
Cyber Insurance Market is expected to project a notable CAGR of 26.2% in 2030.
Cyber Insurance Market to surpass USD 22.5 billion by 2030 from USD 4.3 billion in 2018 at a CAGR of 26.2% throughout the forecast period, i.e., 2019-30. Several problems related to the management of digital security and privacy have been generated by rising digitalization within companies and economies.
Cyber Insurance Market: Segments
SMEs segment to grow with the highest CAGR during 2019-30
Cyber Insurance Market is segmented by Organization Size as SMEs and Large enterprises. The greater market share in 2018 was accounted by Large enterprises segment. For the implementation of comprehensive cybersecurity strategies, these organizations have greater spending power. In addition, major companies are increasingly investing in cyber insurance plans to minimize cyberattack-related risks.
Cyber Insurance Market: Market Dynamics
Drivers
Rising cyber-attacks and Cyber Insurance Demand in Healthcare Sector
The frequency of cyber-attacks around the world has risen in several ways, with a significant number of cases being documented with regard to personal data breaches, such as email addresses, social security numbers, credit card numbers, passwords, and other sensitive details. The healthcare sector, which is increasingly changing itself technologically, is also largely exposed to such risks with cyber-attacks that lead to both financial losses and data protection compromise.
Restrain
Soaring cyber insurance costs
The lack of standardized policies is expected to discourage enterprises from purchasing cyber insurance policies, which can be a restrictive factor in the development of the cyber insurance industry. One of the major factors hindering the growth of the cyber insurance industry is the higher cost of cyber insurance. Owing to the ransomware attacks of the last two to three years, insurance firms have had to pay out costly claims. And if the ransom amount is not covered by the cyber insurance providers, the recovery cost is high for the compromised device.
Cyber Insurance Market: Key Players
• Allianz
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• American International Group, Inc.
• Aon plc
• AXA
• Berkshire Hathway Inc.
• Lloyd’s of London Ltd.
• Lockton Companies, Inc.
• Munich Re
• The Chubb Corporation
• Zurich
Cyber Insurance Market: Regions
Cyber Insurance Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Cyber Insurance Market in North America held the largest market share of XX.X% in the year 2018 and it is expected to continue its market dominance in the future as sustainable and well-established economies allow North America to make substantial investments in research and development (R&D) activities, thus leading to the development of new technologies in the market for cyber insurance. It is expected that the presence of the majority of key players in the cyber insurance market will be the main factor driving market growth in this area. Over the forecast era, Asia Pacific is anticipated to rise at the highest CAGR. Cybercrimes are on the rise in developing countries like India, Australia and China. The growing importance of Asian countries in the global economy has drawn attention of the government and compelled these emerging economies to improve their cybersecurity. This has encouraged cyber insurance companies to potentially take advantage of the opportunity by providing risk plans and endorsing cyber products to improve industry protection strategies.
Cyber Insurance Market report also contains analysis on:
Cyber Insurance Market Segments:
By Policy:
• Data Breach
• Identity Theft
• Malware Attack
• Phishing
• Email Spoofing
By insurance type:
• Standalone
• Integrated
By Organization Size:
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
By Vertical:
• BFS
• Healthcare
• IT & Telecom
• Retail
• Others
• Cyber Insurance Market Dynamics
• Cyber Insurance Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Additional information

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Geography Covered

Date Published

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Format

Table of Contents

Contents
1. Executive Summary
2. Cyber Insurance Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Cyber Insurance Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Cyber Insurance Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Cyber Insurance: Market Segmentation
12.1. By Regions
12.1.1. North America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Europe:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Asia-Pacific:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. MEA:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Latin America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Insurance Type: Market Share (2020-2030F)
12.2.1. Standalone, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Integrated, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3 By Organization Size: Market Share (2020-2030F)
12.3.1. Large Enterprises, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. SMEs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4 By Policy: Market Share (2020-2030F)
12.4.1. Data Breach, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.2. Identity Theft, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.3. Malware Attack, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.4. Phishing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.5. Email Spoofing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5 By Vertical: Market Share (2020-2030F)
12.5.1. BFS, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.2. Government and defense, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.3. Healthcare, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.4. IT & Telecom, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.5. Retail, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.6. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. Allianz
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
13.2. American International Group, Inc.
13.3. Aon plc
13.4. AXA
13.5. Berkshire Hathway Inc.
13.6. Lloyd’s of London Ltd.
13.7. Lockton Companies, Inc.
13.8. Munich Re
13.9. The Chubb Corporation
13.10. Zurich

14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

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