openPR Logo
Press release

Mandatory legislation regarding cyber security is driving cyber insurance market

04-02-2020 06:29 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Mandatory legislation regarding cyber security is driving

Just as people insure their car, home or other physical assets, firms are insuring their IT infrastructure, including their servers, networks, and devices. The global cyber insurance market attained a size of $3,416.4 million in 2016, as per P&S Intelligence, which also said that the market will grow at a CAGR of more than 20.0% in the coming years. Currently, large enterprises are the major buyers of cyber insurance as they have ample budgets, which is also why such companies will be the most significant users of insurance schemes in the future.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/cyber-insurance-market/report-sample

Currently, large enterprises are the major buyers of cyber insurance as they have ample budgets, which is also why such companies will be the most significant users of insurance schemes in the future. However, the purchase of cyber insurance by small and medium enterprises (SMEs) is expected to be faster than large firms, primarily due to the toughening of the laws regarding cyber security.

Apart from their IT infrastructure, companies are also trying to protect their supply chain. As a smooth supply chain is often the key to success for organizations, any breach in related data can prove catastrophic by resulting in loss of consumer confidence, financial penalties, drop in stock price, and legal expenditure. This is why large, mid-size, and small firms are availing themselves of supply chain risk management services provided by cyber insurers.

Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=cyber-insurance-market

The former sector has a dire need to protect the supply chain, whereas the latter is aiming to keep patients' data related to their disease, medication, and insurance claims secure. Geographically, North America is currently the largest cyber insurance market, and it will continue being so in the near future, owing to the well-developed IT infrastructure, presence of large data-driven firms, and increasing risk of cyber-attacks.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Mandatory legislation regarding cyber security is driving cyber insurance market here

News-ID: 1997228 • Views: 444

More Releases from P&S Intelligence

Rising Consumption of Milk and Meat Boosts Animal Pharmaceuticals Industry Growt …
The animal pharmaceuticals industry has garnered $40.07 billion in 2021, and it is expected to rise at the rate of 6.8% from 2021 to 2030, to generate $72.74 billion in 2030. It is attributed to the increasing consumption of milk and meat, surging pet adoption trend, and rising incidence of chronic and zoonotic diseases. Under the product segment, the anti-infectives category has captured a 35% industry share in 2021, led
Sports Food Market Will Touch $128,735.1 Million by 2030
Sports foods are specialized food items that people utilize to meet their Dietary needs or improve their athletic performance. Protein bars, nutritional powder, and energy bars are examples of sports food that provide people extra advantages over their typical meals, particularly more energy. The main ingredients in sports nutrition are concentrated amounts of minerals and vitamins. Browse full report at: https://www.psmarketresearch.com/market-analysis/sports-food-market By 2030, it is anticipated that the sports food market will generate
Baby Diaper Market To Reach around $98 Billion by 2030
The total size of baby diapers market was about $65 billion in 2021, and it will touch a value of around $98 billion by 2030, growing at a rate of approximately 5% in the years to come. The increasing consciousness with regards to personal hygiene, growing population, rising population of working women, and introduction of biodegradable diapers play a major role in industrial growth. Disposable diapers were the most demanded in
Sports Drinks Market Is on Track To Hit $41,833.8 Million by 2030
Sports drinks are a type of functional beverage created specially to supply athletes with electrolytes, carbs, and minerals. Sweating causes the loss of water and electrolytes; sportsmen need sports drinks to restore their levels. As a result, producers are putting more of an emphasis on diversifying their product line by including new tastes with added health advantages. Additionally, consumers are becoming more interested in healthy, low-calorie beverages made from natural ingredients

All 5 Releases


More Releases for CAGR

Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn. Predictive analytics is segmented into: Risk management:
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population. ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and