Cyber Insurance Market Expected to Generate $28.60 Billion by 2026, at 24.9% CAGR

Allied Market Research published a report, titled, "Cyber Insurance Market by Company Size (Large Companies and Small & Medium-sized Companies) and Industry Vertical (BFSI, IT & Telecom, Retail & E-commerce, Healthcare, Manufacturing, Government & Public Sector, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global cyber insurance industry was estimated at $4.85 billion in 2018, and is expected to hit $28.60 billion by 2026, registering a CAGR of 24.9% from 2019 to 2026.

Drivers, restraints, and opportunities-

Rise in cyber-attacks and increase in mandatory legislation regarding cyber security drive the growth of the global cyber insurance market. On the other hand, lack of standardized policies curbs the growth to a certain extent. Nevertheless, development of products and services and progress in emerging economies are anticipated to usher in multiple opportunities in the near future.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/1705

The large enterprises segment to dominate by 2026-

Based on organization size, the large enterprises segment accounted for more than two-thirds of the global cyber insurance market revenue in 2018, and is projected to retain its dominance throughout the forecast period. Large companies often purchase cyber insurance policies for protection against cyber-attacks and other risks which, in turn, has fueled the growth of the segment. At the same time, the SM­Es segment is expected to portray the fastest CAGR of 27.2% by the end of 2026. The fact that small- and medium-sized enterprises are more susceptible to cyber-attacks has driven the segment growth.

The BFSI segment to lead the trail-

Based on industry vertical, the BFSI segment contributed to one-fourth of the global cyber insurance market share in 2018, and would maintain the lion's share by 2026. Rise in incidences of data breaches in large volumes of customer data has augmented the growth of the segment. Simultaneously, the government & ­­public sector would showcase the fastest CAGR of 27.5% during the estimated period. This is due to increase in cyber liabilities, data theft, identity fraud, and cyber-attacks, which has left cyber insurance coverages at the forefront of corporate governance in public sector companies.

Enquire For Discount: https://www.alliedmarketresearch.com/purchase-enquiry/1705

North America garnered the highest share in 2018-

Based on region, North America held the major share in 2018, reaping more than two-fifths of the global cyber insurance market. Increase in data breach, cyber extortion and disruptive events across business sectors in this province have driven the market. The Asia-Pacific region, on the other hand, is predicted to register the fastest CAGR of 26.9% till 2026. Rapid technological developments such as automated production & technical processes and growing adoption of internet of things along with, stringent regulatory landscape for data protection have been driving the Asia-Pacific cyber insurance market.

Frontrunners in the industry-

American International Group, Inc.
Munich Re, Zurich
Lockton Companies, Inc.
Aon plc
AXA
Berkshire Hathway Inc.
Allianz
Lloyd's of London Ltd.
The Chubb Corporation
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

More Reports:
https://www.alliedmarketresearch.com/us-surplus-lines-insurance-market-A06543
https://www.alliedmarketresearch.com/digital-banking-platforms-market
https://www.alliedmarketresearch.com/atm-managed-services-market
https://www.alliedmarketresearch.com/automated-teller-machine-ATM-market
https://www.alliedmarketresearch.com/peer-to-peer-lending-market

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.