Houston, TX -- (SBWIRE) -- 07/07/2018 -- The Global Cyber Security Insurance Market is estimate to growing at a CAGR of +25% during the Forecast Period.
The cyber security insurance market is expected to reach USD 17.55 billion in 2023 from USD 4.52 billion in 2017, registering a CAGR of +25%, during the forecast period (2018 - 2023). The scope of the report is limited to the size of organization and its usage in various industry verticals. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, and Rest of the World. Rise in cyber data breaches and increasing adoption of cloud-based services are a few factors driving the growth of cyber security insurance market, whereas, high costs is inhibiting its growth.
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The study presents a qualitative and quantitative analysis of the market, its key segments, regulatory landscape, and competitive scenario, and recent developments. A detailed analysis of factors expected to drive and challenge the growth of the market as well as the trends that decide consumer inclination are highlighted. The report utilizes a variety of primary and secondary research methodologies for gathering quantitative as well as qualitative data on global as well as regional fronts. With the help of a number of industry-best analytical methods, the vast amount of market data thus gathered is filtered and narrowed down to the details that matter the most to companies operating in the global Cyber Security Insurance market or aspiring to enter it.
Companies Profiled in this report includes, Xl Group Ltd, American International Group, Zurich Insurance Co, Aon Plc, Allianz Global Corporate & Specialty, Munich Re Group, And Lockton Companies, amongst others.
Asia-Pacific is a very lucrative market for cyber security insurance companies. The companies in this region are prone to cyber-attacks owing to poor protection against cyber-attacks. Though cyber security insurance market is at nascent stage in this region but it is growing rapidly. In India, the demand for cyber security insurance rose by more than 50% in 2017 as compared to that with 2016. Around 250 companies, including banks, bought cyber security insurance in 2017. As of now, the cyber security insurance premium is INR 200 crore, which is expected to increase to INR 400 crore in years to come. Moreover, there is huge demand of this market from telecom service providers as well.
Detailed market data about these factors is estimated to help vendors take strategic decisions that can strengthen their positions in the market and lead to more effective and larger stake in the global Cyber Security Insurance market. Pricing and cost teardown analysis for products and service offerings of key players has also been undertaken for the study.
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The Global Cyber Security Insurance Market is a highly fragmented, niche market with the presence of a massive number of vendors. Providers in the market compete based on pricing, innovation, service, reputation, distribution, and promotion. As the market is still in its development stage, small vendors with innovative solutions have the chances of being acquired by large players in the market.
This research, highlighting the current situation of the Global Cyber Security Insurance market, focuses on answering some of the important questions faced by stakeholders. By providing answers to all of these questions related to the key drivers and dominant companies, the report's authors also focus on different factors, which would create new growth opportunities in the global market. Prepared by an expert team, the report on the global Cyber Security Insurance market highlights recent developments, key trends, and new project developments in the market.
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To conclude, contemplation of the noteworthy enactment of the Global Cyber Security Insurance Market is driven by various analysis tools and wide-ranging research reports. Citations are engaged to mount clear results and validate them.
Table of Contents
Global Cyber Security Insurance Market Research Report 2018
Chapter 1 Global Cyber Security Insurance Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Market Forecast