The global cyber insurance market reached a value of nearly $6,785.0 million in 2018, having increased at a compound annual growth rate (CAGR) of 37.2% since 2014, and is expected to grow at a CAGR of 20.2% to nearly $14,144.6 million by 2022. The global cyber insurance market is expected to reach $17,554.6 million in 2025 growing at a CAGR of 7.5%, and $21,940.0 million in 2030 growing at a CAGR of 4.6%.
Growth in the historic period resulted from the growth in the number of cyber-attacks and increased spending on information security by organizations. Factors that negatively affected growth in the historic period were a lack of awareness of insurance coverage among the general public, low penetration of cyber insurance, and a lack of awareness of potential losses by organizations. Going forward, stringent regulatory environments such as full compliance with GDPR, increased evaluation of cyber threats during mergers and acquisitions, increasing awareness of cyber threats, and growing adoption of internet-based business models will drive the growth. Factors that could hinder the growth of the cyber insurance market in the future include a lack of actuarial data and proven cyber exposure models, pricing uncertainty around cyber insurance policies, and emerging new types of cyber exposures and risks.
Chubb Limited, AXA Group, American International Group, Inc., The Travelers Companies, Inc. and Beazley Insurance Co, Inc
This report presents a 360-degree overview of the competitive scenario of the Global Cyber Insurance market. The report includes massive data relating to the recent product and technological developments observed in the market, complete with an analysis of the impact of these advancements on the market’s future development. The research report analyzes the global Cyber Insurance market in a detailed manner by explaining the key aspects of the market that are expected to have a quantifiable influence on its developmental prospects over the forecast period.
Microeconomic and macroeconomic factors which affect the Cyber Insurance market and its growth, both positive and negative, are also studied. The report features the impact of these factors on the ongoing market throughout the mentioned forecast period. The upcoming changing trends, factors driving as well as restricting the growth of the market are mentioned.
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North America was the largest region in the global cyber insurance market, accounting for 55.8% of the total in 2018. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the cyber insurance market will be South America and Eastern Europe where growth will be at a CAGR of 47.7% and 35.0% respectively. These will be followed by North America and Asia Pacific, where the markets are expected to grow at CAGRs of 20.6% and 20.3% respectively.
Fundamentals of Table of Content:
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Cyber Insurance Market Size
2.2 Cyber Insurance Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Cyber Insurance Market Size by Manufacturers
3.2 Cyber Insurance Key Players Head office and Area Served
3.3 Key Players Cyber Insurance Product/Solution/Service
3.4 Date of Enter into Cyber Insurance Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Cyber Insurance Sales by Product
4.2 Global Cyber Insurance Revenue by Product
4.3 Cyber Insurance Price by Product
5 Breakdown Data by End User
5.2 Global Cyber Insurance Breakdown Data by End User
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