Dallas, Texas, April 10, 2019 (GLOBE NEWSWIRE) -- The global Cyber security insurance market size was USD 3.89 billion in 2017 and is expected to grow to USD 23.07 billion in 2025 owing to growing intensity of cyber-attacks across the world. Emergence of government regulations such as the Global Data Protection Regulation (GDPR) in the European Union (EU), HIPAA in the US and others had a significant impact on the rise of cyber insurance market recently. Furthermore, growing vulnerability of cyber exploitation due to rise in connected devices across the world and emergence of Internet of Things (IoT) have driven the majorly the cyber insurance market. Recent events of data breaches such as the ‘WannaCry’ ransomware spread across the systems all across the world have made the organizations more aware about the cyber-attacks.

Along with the investment in the Cyber security solutions, which include hardware and software solutions, companies have also started to take cyber insurance to mitigate risks. Even if the cyber insurance market is projected to grow in the future, there are quite a few challenges which need to be addressed by the insurers and mentioned further in the report. Standalone cyber insurance solutions is a recent phenomenon and currently, the underwriting of cyber insurance is still limited due to immature and limited expertise.

Request a PDF sample of the global Cyber Security Insurance market research report @ https://adroitmarketresearch.com/contacts/request-sample/485

Global Cyber security insurance have varying product lines, mostly depending on the customer requirements. The report also provides the various key strategies adopted by the leading players as the demand is growing from Asia-Pacific economies. Current Cyber security insurance market share in been derived on the basis of thorough understanding of the forecast and dynamics of Cyber security in various geographies. Also, the global Cyber security insurance market size has also been laid down based on the Porter’s Five Forces Analysis for the industry players’ decision making.

The global cyber insurance market can be further segmented on the basis of the organization size- SMEs, mid-market and large enterprises. Mid-market companies had the highest market share in 2017 just followed by the large enterprise segment. However, the SME segment is anticipated to grow with the highest CAGR of 25.3% in the forecast period owing to the growing awareness among the SMEs which provide digital services.

The “Global Cyber Security Insurance Market Size 2018 by Organization Size (SME, Mid-Market and Large Enterprises), by Industry (BFSI, ICT, Healthcare, Manufacturing, Retail and Others), By Region (US, Canada, Germany, UK, Rest Europe, China, India, Rest APAC, and Rest of the World) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.

Based on the industry vertical the cyber insurance market can be further bifurcated into BFSI, ICT, healthcare, manufacturing, retail and others. Among these, BFSI sector had the highest market share in 2017 and will continue to dominate in the forecast period. ICT is poised to grow with the highest growth rate of 27.8% in the forecast period due to the fact that the amount of data generated by these companies is the largest and eventually more vulnerable to cyber-attacks. Healthcare segment is also expected to grow significantly due to the HIPAA regulation implemented in the North America.

The major players in this industry include American International Group (AIG), The Chubb Corporation, XL Group, Travelers, Beazley, CAN, Liberty Mutual, BCS Insurance, AXIS Insurance Group and Allied World. According to the National Association of Insurance Commissioners and the Center for Insurance Policy and Research, more than 500 different companies wrote cyber insurance policies in 2017.

Direct purchase the Single user copy of the research study @ https://adroitmarketresearch.com/researchreport/purchase/485 . or Are you looking for a discount on purchasing the report? If yes then, contact us @ https://adroitmarketresearch.com/contacts/discount/485

Key points from Global Cyber Security Insurance Market 2025:

  • In 2017, the global market size of cybersecurity insurance was valued at USD 3.89 billion, driven mainly by the increasing number of cyber-attacks worldwide.
  • Rapidly growing connected devices for both personal and business purposes have created new vulnerabilities that can be exploited by cyber-attackers.
  • Global enhancement of regulations on personal identifiable information loss (PII) has fuelled demand for cybersecurity insurance across all sectors.
  • The most critical challenges faced by cybersecurity insurers are to quantify a new cyber risk and lack of cyber-security incident data in support of risk assessment, allowing insurers to differentiate customers based on risk.
  • According to the NAIC statutory filings analysis, there are only four subscribers in the US along with the Llyod's that generate nearly 60% of the total premium.
  • In 2017, mid-market companies (income ranging from USD 100 million to 1 billion) had the highest market share of 41.6%.
  • Due to the increasing awareness of cyber thefts among small and medium-sized enterprises providing digital services, the SME segment is expected to grow over the forecast period with the highest CAGR of 25.3%.
  • ICT is expected to grow at the highest growth rate of 27.8% in the forecast period due to the fact that the data generated by these companies is the largest and ultimately the most vulnerable to cyber-attacks.
  • Since most cybersecurity insurance underwriters are based in the U.S., North America region's market share was 87.2 percent, the highest in 2017 among other regions.
  • Asia-Pacific (APAC) cybersecurity spending is expected to grow in the coming years, driven mainly by regulations and increased organizational awareness. It is therefore expected that the cyber insurance market in the APAC region will grow at a CAGR of 38.0% over the 2018 - 2025 forecast period.

Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4 Global Cyber Security Insurance Market Overview, by Organization Size
Chapter 5 Global Cyber Security Insurance Market Overview, by Industry Vertical
Chapter 6 Global Cyber security insurance Market Overview, by Region
Chapter 7 Company Profiles
Continued…

Grasp advance knowledge on Cyber Security Insurance Industry through in-depth Blogs, White Paper & Infographics:

Access the White Paper “Cybersecurity Insurance: How To Secure Your Digital Space?” @ https://adroitmarketresearch.com/white-paper/cybersecurity-insurance-how-to-secure-your-digital-space

Read the in depth blog titled “Still Thinking About The Cybersecurity Insurance Policy Coverage?” @ https://adroitmarketresearch.com/blogs/still-thinking-about-the-cybersecurity-insurance-policy-coverage

Browse more related reports:

Global Lawful Interception Market 2018-2025:
Global lawful interception market is segmented into the component, communication technology, solution, network technology, end-user, and region. Based on the component, the lawful interception market is divided into routers, switch, mediation devices, intercept access point, management server, gateways, and handover interface. On the basis of communication technology, the market is divided into file transfer, data downloads, digital pictures, facsimile, text messaging, video and voice communication. On considering the solution, the market is divided into services, software, and devices. Browse the report @ https://adroitmarketresearch.com/industry-reports/lawful-interception-market

Global Cybersecurity Market Size 2017-2025:
Global Cybersecurity Market Size 2017 by Deployment Type (Cloud & On-premise), By Solution (Identity access management, End-point, Web security, Network, Security & vulnerability management (SVM), Messaging, Education & training, Consulting, Integration, Managed services and others), By Industry vertical (BFSI, ICT, Healthcare, Government, Manufacturing, Retail and others), By Region and Forecast 2018 to 2025. Access the full report @ https://adroitmarketresearch.com/industry-reports/cyber-security-market

Global Antivirus Software Market Size and Forecast, 2018-2025:
The global antivirus software market is classified on the basis of region, device and end use. The device classification includes desktops, laptops, and others. On the basis of end use, the market is divided into personal use and corporate use. On the basis of region, the segmentation includes Europe, North America, LAMEA and Asia-Pacific. Get the report@ https://adroitmarketresearch.com/industry-reports/antivirus-software-market

Global IoT (Internet of Things) Security Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2018-2025:
North America is the dominant market in the IoT Security industry due to its excessive use of IoT devices across several domains, coupled with the enforcement of regulatory frameworks. However, The Asia Pacific region is a rapidly growing market, owing to the increasing number of business organizations, unregulated use of internet, and a rise in the mobile workforce. The economy is expanding, and Asian countries are experiencing social transformation. Some of the key players, providing significant security solutions are Symantec Corporation, Cisco Systems, Inc., International Business Machines Corporation, RSA Security LLC, Fortinet Inc., and Palo Alto Network.  Access the full report @ https://adroitmarketresearch.com/industry-reports/iot-internet-of-things-security-market

Access research repository of Upcoming Reports @ https://adroitmarketresearch.com/upcoming.html

About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

Contact Us:
Ryan Johnson
Account Manager - Global
3131 McKinney Ave Ste 600
Dallas, TX 75204
Email ID: sales@adroitmarketresearch.com
Phone No.: +1 (214) 884-6068
Connect with us: Facebook | Twitter | LinkedIn

Contact Us:

Ryan Johnson

Account Manager - Global

3131 McKinney Ave Ste 600

Dallas, TX 75204