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Cyber Insurance Market Size to Upsurge Owing to Increase in Incidences of Data Theft, Breach And Cyberattacks: Radiant Insights, Inc.
Wednesday, February 26, 2020
SAN FRANCISCO, Feb. 18, 2020 /PRNewswire/ -- The Cyber Insurance Market is expected to grow at a significant rate over the forecast period. Cyber insurance is a broad spectrum of tools available to organisations to enhance their cyber security and pliability. In the recent years, the lasting effects of cyber events have made organisations much aware of cyber risks with a dire need for security. Insurance solutions in the cyberspace are offered by insurers encompassing mitigation support at any odd event. Although, there has been tremendous awareness for cyber insurance, several markets are yet to achieve full potential due to prevalence of deployment challenges.
The difference in approach for small and large-medium organisations, as large organisations can rely on custom-made insurance solutions depending on the need while, small organisations can prefer for a range of insurance products. Apart, medium-sized organisations are somewhat hesitant with the coverage and services. As, digital transformation is a crucial component in affecting all elements in an organisation, the capability of an organisation to conduct awareness for cybersecurity risk management campaigns, not only by IT people but also remains with operational teams at large. Hence, an insurer can then observe IT security as an organisational matter or an individual entity within an organisation. With this as a practice, every insurer can have a general assessment of organisation and its capability to inhibit any damage incurred by the organizational workforce.
The cyber insurance market size is expected to widen in the forthcoming years attributing to rise in digitalization in business wherein potential challenges have grown for data security and reliability. Businesses are now keen on developing robust security infrastructure for security management. Rise in incidences of data theft, breach and cyberattacks are more likely to drive the need for cyber insurance in the forthcoming years. Companies under large bandwidth constantly face enormous data loss on an annual basis and hence to mitigate such incidences, internet insurance and data protection solutions is gaining a huge traction. Risk transfer is expected to emerge as a viable alternative to counter data theft incidences.
Download PDF to know more details about "Cyber Insurance Market" report 2030.
On contrary, low standardization, high pricing and fierce competition is more likely to limit the market growth in the forecast span. In addition growing size of data and development of complex network clusters with entry and exit points is more likely to create loopholes in the network system, thereby creating security challenges in the network system. However, digital awareness campaigns and growing initiative for robust security levels are expected to create novel opportunities for the market development. By type of distribution channel, the market can be segmented as brokers, tied agents, direct and other channels. By size of business, the cyber insurance market can be segmented as small, medium and large. Small enterprises are likely to have a strong position attributing to adherence of data policies driven by need for data protection. Large enterprises are expected to have steady pace in the market attributing as the cyber insurance market is still in the nascent stages.
By end-use, the market can be segmented as professional services, government bodies, financial services, retail and wholesale, IT services, education and manufacturing. Insurance services are most widely used in the financial sector to safeguard data pertaining to stocks, equity and funds. By region, the market can be segmented as North America, South America, Europe, Asia Pacific, Middle-East and Africa. North America is a growing market for cyber insurance attributing to increase in rate of data theft and growing incidences of network breakdown. Moreover, U.S. organizations are now emphasizing on redefining and rescaling internet properties. European countries are now adopting policies for data safety to ensure no data violation and breach. In addition, compliance and regulatory framework is trending in the IT sector.
Some of the key players mentioned in the cyber insurance market are AXA Group, American International Group Inc., The Travelers Companies Inc., and Beazley Insurance Co Inc.
Where is the largest and fastest growing market for the cyber insurance market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global cyber insurance market report to 2030 report from the Business Research Company answers all these questions and many more.
Access 308 page research report with TOC on "Cyber Insurance Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/cyber-insurance-global-market-opportunities-and-strategies-to-2030
-- The report covers the following chapters
-- Executive Summary - The executive summary section of the report
gives a brief overview and summary of the report
-- Report Structure - This chapter gives the structure of the report
and the information covered in the various sections.
-- Introduction - The introduction section gives the segmentation of
the cyber insurance market by type and by end-user covered in this
report.
-- Market Characteristics - This chapter of the report defines and
explains the cyber insurance market. This chapter includes different
products covered in the report and basic definitions.
-- Supply Chain - This chapter of the report defines and explains the
key players in the cyber insurance market supply chain.
-- Customer Information - The customer information section covers
recent customers' trends/preferences in the global cyber insurance
market.
-- Trends And Strategies - This chapter describes the major trends
shaping the global cyber insurance market. This section highlights
likely future developments in the market and suggests approaches
companies can take to exploit these opportunities.
-- Global Cyber Insurance Market - Timeline - This section describes
the evolution of the cyber insurance in four major timelines: Past
(1990s-2014), Present (2014-2018), Near Future (2018-2022) and
Future (2023-2030).
-- Regulatory Landscape - This section provides the regulatory
framework for the cyber insurance industry in the USA, Europe,
China, Japan and other countries.
-- Recent Cyber Attacks And Their Impacts - This section provides a
description of five recent cyber-attacks and their impacts on the
business operations.
-- Technologies Aiding The Cyber Insurance Industry - This sections
describes five technologies that help optimizing operations of cyber
insurance providers.
-- Global Market Size And Growth - This section contains the global
historic (2014-2018) and forecast (2018-2022), 2025 and 2030 market
values, and drivers and restraints that support and restrain the
growth of the market in the historic and forecast periods.
-- Regional Analysis - This section contains the historic (2014-2018)
and forecast (2018-2022) market value, growth, and market share
comparison by region.
-- Segmentation - This section contains the market values (2014-2022)
and analysis for different segments.
-- Global Macro Comparison - The global cyber insurance market
comparison with macro-economic factors gives the cyber insurance
market size, percentage of GDP, and average cyber insurance market
expenditure.
-- Regional Market Size and Growth - This section contains the region's
market size (2018), historic (2014-2018) and forecast (2018-2022)
market values, and growth and market share comparison of major
countries within the region. This section also gives information on
industry metrics that affect or influence the cyber insurance
market. Industry metrics covered in this section include number of
employees and number of enterprises. This report includes
information on all the regions Asia-Pacific, Western Europe, Eastern
Europe, North America, South America, Middle East, and Africa and
major countries within each region.
-- Competitive Landscape - This section includes details on the
competitive landscape of the global cyber insurance market,
estimated market shares and company profiles of the leading players.
-- Key Mergers And Acquisitions - This chapter includes the information
on recent mergers and acquisitions in the market covered in the
report. This section gives key financial details of mergers and
acquisitions that have shaped the market in recent years.
-- Conclusions And Recommendations - This section includes conclusions
and recommendations based on the findings of the research. This
section gives information on growth opportunities across countries,
segments and strategies to be followed in those markets. It gives an
understanding of where there is a significant business to be gained
by competitors in the next five years.
-- Appendix - This section includes details on the NAICS codes covered,
abbreviations and currencies codes used in this report
-- Markets Covered:
-- By Type Of Distribution Channel: Brokers; Tied Agents And Branches;
Direct and Other Channels; Bancassurance
-- By Type Of Insurance: Standalone, Package, Personal
-- By Size Of Business: Mid, Large, Small
-- By Type Of Claim: Ransomware, Hacker, Business Email Compromise,
Malware/Virus, Phishing, Third Party, Rogue Employee, Legal Action,
Paper Records, Programming Error, Staff Mistake, Lost/Stolen
Laptop/Device, Others
-- By End-Use: Professional Services, Media, Healthcare, Government
Bodies (Public), Financial Services, Retail And Wholesale,
Education, Manufacturing, IT Services, Others
-- Companies Mentioned: Chubb Limited; AXA Group; American
International Group, Inc.; Beazley Insurance Co, Inc.; The Travelers
Companies, Inc.
-- Countries: China, India, Japan, Australia, South Korea, Indonesia,
USA, Canada, Mexico, Brazil, UK, Germany, France, Spain, Italy,
Switzerland, Netherlands, Belgium, Russia
-- Regions: Asia Pacific, Western Europe, Eastern Europe, North
America, South America, Middle East, Africa
-- Time series: Five years historic and forecast.
-- Data: Ratios of market size and growth to related markets, GDP
proportions, expenditure per capita
-- Data segmentations: country and regional historic and forecast data,
market share of competitors, market segments.
-- Sourcing and Referencing: Data and analysis throughout the report is
sourced using end notes.
-- Reasons to Purchase
-- Outperform competitors using accurate up to date demand-side
dynamics information.
-- Identify growth segments for investment.
-- Facilitate decision making on the basis of historic and forecast
data and the drivers and restraints on the market.
-- Create regional and country strategies on the basis of local data
and analysis.
-- Stay abreast of the latest customer and market research findings
-- Benchmark performance against key competitors.
-- Develop strategies based on likely future developments.
-- Utilize the relationships between key data sets for superior
strategizing.
-- Suitable for supporting your internal and external presentations
with reliable high quality data and analysis
-- Gain a global perspective on the development of the market.
Browse reports of similar category available with Radiant Insights, Inc.:
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About Radiant Insights, Inc.:
At Radiant Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Contact:
Michelle Thoras.
Corporate Sales Specialist
Radiant Insights, Inc.
Phone: +1-415-349-0054
Toll Free: 1-888-928-9744
Email: sales@radiantinsights.com
Web: https://www.radiantinsights.com/
Blog: https://radiantinsightsinc.blogspot.com/
View original content:http://www.prnewswire.com/news-releases/cyber-insurance-market-size-to-upsurge-owing-to-increase-in-incidences-of-data-theft-breach-and-cyberattacks-radiant-insights-inc-301006368.html
SOURCE Radiant Insights, Inc.
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