Press release
Guardians of the Digital Frontier: Navigating the Dynamics and Trends in the Cyber Insurance Market 2023-2030
Cyber Insurance Market
Data Bridge Market Research analyses that the cyber insurance market is expected to reach USD 73368.28 million by 2030, which is USD 11998.53 million in 2022, at a CAGR of 25.40% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Cyber Insurance Market Analysis:
This Cyber Insurance Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Cyber Insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
List of the leading companies operating in the Cyber Insurance Market includes:
American International Group, Inc. (U.S.)
Aon Plc (U.K.)
IBM (U.S.)
Check Point Software Technologies Ltd. (Israel)
CyberArk Software Ltd. (U.S.)
F5 Inc (U.S.)
FireEye (U.S.)
Forcepoint (U.S.)
Fortinet Inc (U.S.)
Amazon Web Services (U.S.)
Oracle (U.S.)
Palo Alto Networks (U.S.)
Imperva (U.S.)
Qualys Inc (U.S.)
HCL Technologies Limited (India)
Capgemini (France)
Cognizant (U.S.)
Symantec Corporation (U.S.)
Broadcom (U.S)
Wipro Limited (India)
Recent Development
In 2022, Uncover presented cyber security insurance for small enterprises in forthcoming Cyber Security Awareness and light of the cyber-attack on Optus Month in October. The company mainly focuses on servicing Australian small and medium enterprises with the launch of latest Cyber and Privacy Liability Insurance.
In 2022- Medibank, an Australian insurance company, announced in the newest company statement after being connected by a nasty party alleging to have consumer data and for its deletion. The major cyber security conflict happened when the company found some "unusual activity" on its internal systems.
Access Full Report@ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-cyber-insurance-market
Cyber Insurance Market
Drivers
Increasing usage of social media platform and easy access of personal information
Easy access of personal information and data over the internet and rising usage of social media platforms have encouraged the cybercriminals to commit crimes that largely involve the sale of the personal information such as identities, medical records, credit card numbers and many more on the dark web. As a result of all these factors, the demand for cyber insurance is rising in the market.
Growing cyber risks
There are huge cyber threats owing to a large portion of the global population spending their maximum time on online platforms that can mainly drive the demand for cyber insurance. Several initiatives taken by regulatory and government organizations to strengthen defenses also spur the demand for cyber insurance in the market at a substantial pace. Surge of data privacy laws for instance the Europeans General Data Protection Regulation and Health Insurance Portability and Accountability Act can further facilitate the demand for the cyber insurance in the market during the forecast period.
Opportunities
Growing usage of blockchain technology with artificial technology (AI) for risk analysis
Among the most recent innovative technologies, the blockchain technology and artificial technology (AI) technology are anticipated to give risk analytics solutions and generate new business opportunities for the market growth. The integration of these advanced technologies with risk analytics programs would support cybersecurity insurance companies with some of their most important issues. The growth of these modern and advanced technologies enables faster transactions and settlements, making it easier for their clients and financial institutions to perform transactions easily. Risk analytics solutions are very important to analyze claims, provide policy coverage, and manage reserves. Therefore the growing usage of blockchain technology with artificial technology (AI) for risk analysis will create immense opportunities for the growth of the cyber insurance market.
Restraints
Issues associated with cyber insurance
Lack of expertise and technical knowledge along with growing concern regarding cybersecurity, data and information privacy will be considered major restraining factors for the market's growth during the abovementioned forecast period. Furthermore, absence of historical cyber and lack of understanding will become the biggest and foremost challenge for growth of the market.
This cyber insurance market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cyber insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
To Gain More Insights into the Market Analysis, Browse Summary of the Cyber Insurance Market Report@ https://www.databridgemarketresearch.com/reports/global-cyber-insurance-market
Global Cyber Insurance Market Segmentations:
Component
Solutions
Cybersecurity Insurance Analytics platform
Disaster Recovery and Business Continuity
Cybersecurity Solution
Cyber Risk and Vulnerability Assessment
Cybersecurity Resilience
Services
Consulting/Advisory
Security Awareness Training
Other
Infrastructure Services
Implementation
Support and Maintenance
Insurance Type
Packaged
Standalone
Insurance Coverage
Data Breach
Data Loss
Denial of Service and Down-Time
Ransomware Attacks
Others
Third Party data
Business Disruption
Social Engineering
Cyber Liability
Type
Data Protection and Privacy Costs
Non-compliance Penalty
Brand and Related Intellectual Property Protection
Others
Human Error
System Failure
Controls Framework
Inadequate IT Security Measures and Non-Security Related IT
Source/target
Internal
External
Organization Size
Large Enterprises
Small and Medium-Sized Enterprises
Application
Information and Communication Technology
Financial Services
Manufacturing
Retail
Healthcare
Others
Coverage Type
First Party Coverage
Theft and Fraud
Computer Program and Electronic Restoration
Extortion
Forensic Investigation
Business Interruption
Third-Party Coverage
Crisis Management
Credit Monitoring
Regulatory Response
Regulatory Response
Privacy, and Security Liability
Network Security Liability
Media and Communication Liability
End user
Technology Provider
Insurance Companies
Third-party administrators, brokers and Consultancies
Government Agencies
Insurance Provider
Financial provider IT and ITES
Healthcare and Life Sciences
Retail and E-commerce
Telecom
Travel, tourism and Hospitality
Others
Education
Manufacturing
Energy and Utilities and Government
Regional Analysis for Global Cyber Insurance Market:
APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
North America (U.S., Canada, and Mexico)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (Saudi Arabia, UAE, South Africa)
Table of Content: Global Cyber Insurance Market
Chapter 1: Market overview
Chapter 2: Global Cyber Insurance Market analysis
Chapter 3: Regional analysis of the Cyber Insurance industry
Chapter 4: Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
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Data Bridge Market Research Pvt Ltd is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.
Data Bridge Market Research is a result of sheer wisdom and practice that was conceived and built-in Pune in the year 2015. The company came into existence from the healthcare department with far fewer employees intending to cover the whole market while providing the best class analysis. Later, the company widened its departments, as well as expands their reach by opening a new office in Gurugram location in the year 2018, where a team of highly qualified personnel joins hands for the growth of the company. "Even in the tough times of COVID-19 where the Virus slowed down everything around the world, the dedicated Team of Data Bridge Market Research worked round the clock to provide quality and support to our client base, which also tells about the excellence in our sleeve."
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