June 2, 2023

The Cyber Insurance Market 2023 is expected to grow at a CAGR of 2023-2030. Global Data expects enterprises to become the key market for Cyber Insurance Market over the next three years, outpacing the consumer segment. Cyber Insurance Market is already in use across retail, defense, airlines, oil and gas, and healthcare, primarily for training. The COVID-19 pandemic triggered a shift to remote working that has boosted the adoption of Cyber Insurance Market by enterprises for training, collaboration, data visualization, and customer experience.

According to the market research report by Fortune Business Insights, cyber insurance market size was valued at USD 13.33 billion in 2022. The market is projected to grow from USD 16.66 billion in 2023 to USD 84.62 billion by 2030, exhibiting a CAGR of 26.1% during the forecast period.

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List of the Key Companies Profiled:

  • Travelers Indemnity Company (U.S.)
  • AXA XL (U.S.)
  • Chubb (Switzerland)
  • American International Group, Inc. (U.S.)
  • Beazley Group (U.K.)
  • AXIS Capital Holdings Limited (Bermuda)
  • CNA Financial Corporation (U.S.)
  • BCS Financial Corporation (U.S.)
  • The Hanover Insurance, Inc. (U.S.)
  • Zurich Insurance (Switzerland)

Driver:

The surge in mandatory Cyber Insurance Market regulations and legislation regarding the market boosts demand for insurance protection. Government regulatory bodies and law enforcement agencies worldwide have taken numerous initiatives to tighten data security and protection. With the advent of COVID-19, the need for an insurance policy has been realized by policyholders, brokers, insurers, and agents. For example, in February 2020, the Californian assembly introduced a bill to make Cyber Insurance Market mandatory to process regulated and protected personal information for all state contractors.

Objectives of the Report

  • To carefully analyze and forecast the size of Cyber Insurance Market by value and volume.
  • To estimate the market shares of major segments of the Industry
  • To highlight the development of the Cyber Insurance Market in different parts of the world.
  • To analyze and study micro-markets in terms of their contributions, prospects, and individual growth trends.
  • To offer precise and useful details about factors affecting revenue growth over the forecast period.
  • To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Cyber Insurance Market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Research Methodology

They are using secondary sources such as company websites, annual reports, press releases, financial data, investor presentations, articles, news, white papers, certified publications, and government publishing sources as a starting point for the research methodology used to estimate and forecast the size of the global Cyber Insurance Market. In addition, the research takes into account vendor offers to categorize the market.

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Table of Contents

  • Introduction
  • Market Definition
  • Market Segmentation
  • Geographic Scope
  • Years Considered: Historical
  • Currency Used
  • Research Framework
  • Data Collection Technique
  • Data Sources
  • Secondary Sources
  • Primary Sources
  • Market Estimation Methodology
  • Bottom-Up Approach
  • Top-Down Approach
  • Data Validation and Triangulation
  • Market Forecast Model
  • Limitations/Assumptions of the Study
  • ABSTRACT OF THE STUDY
  • MARKET DYNAMICS ASSESSMENT
  • Overview

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