Companies Profiled in the Cyber Insurance Market Are: American International Group Inc., Munich Re Group, Zurich Insurance Co. Ltd, Berkshire Hathaway, XL Group Ltd, The Chubb Corporation, Aon Plc., Axis Capital, Lockton Companies Inc., Hiscox Inc.
The global cyber insurance market size was USD 6.15 billion in 2020. The market is projected to grow from USD 7.60 billion in 2021 to USD 36.85 billion in 2028 at a CAGR of 25.3% in the 2021-2028 period.
Report 2022-2029, has been prepared based on an in-depth market analysis with inputs from industry experts. TheCyber Insurance Market study sheds light on the important growth dynamics expected to prevail across the assessment period 2022-2029. It offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants The study offers statistics of key segments across prominent geographies, along with a detailed mapping of the global competitive landscape.
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The report covers an extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies. The key players studied in the report include:
- American International Group Inc. (New York, U.S.)
- Munich Re Group (Munich, Germany)
- Zurich Insurance Co. Ltd (Zurich, Switzerland)
- Berkshire Hathaway (Nebraska, U.S.)
- XL Group Ltd (AXA S.A) (Hamilton, U.S.)
- The Chubb Corporation (New Jersey, U.S.)
- Aon Plc. (London, U.K.)
- Axis Capital (Pembroke Parish, Bermuda)
- Lockton Companies Inc. (Missouri, U.S.)
- Hiscox Inc. (Georgia, U.S.)
Drivers and Restraints:
Rising Cybercrimes and Data Breaches to Fuel Market Growth
Cyberattacks and data breaches are rising throughout the globe, thereby boosting cyber insurance adoption. According to the report published by Checkpoint, in the year 2020 93% surge in ransomware occurrences were registered, and around 6 out of 10 companies experienced cybercrime. This substantial elevation in cyberattacks is projected to drive the cyber insurance market growth.
Various industries such as healthcare, BFSI, and retail are being greatly directed by hackers on account of the huge amount of saved customer data. Correspondingly, the increasing digitalization, online shopping, mobile banking, and online payment, and electronic medical documents are anticipated to spur the danger of data breaches in these industries.
Segmentation:
- On the basis of components, the market is divided into solutions and services.
- Based on the insurance type, the market is segregated into standalone and tailored.
- In terms of coverage type, the market is classified into first-party and liability coverage.
- Based on enterprise size, the market is segmented into large enterprises and small and medium enterprises (SMEs).
- By end-user, the global market is branched into healthcare, retail, BFSI, IT and telecom, manufacturing, and others. The BFSI sub-segment is set to gain maximum share during the forecast period.
The report provides detailed insights on drivers, restraints, and opportunities to help the market players in devising several growth strategies. The rise in demand for compound semiconductor epitaxial wafers in consumer electronics, the surge in implementation of wafers in the automotive industry, and the increase in the use of compound semiconductor wafers in photovoltaic, photonics, spintronics, and others are expected to drive the growth of the global compound Cyber Insurance Market during the forecast period. On the other hand, the extortionate cost of wafer manufacturing is expected to hinder the growth to some extent. However, the increase in popularity of IoT in wafers is expected to create ample opportunities for the industry.
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What’s Included in the Report
- Global Cyber Insurance Market in Military and Aerospace Market size and growth projections, 2020- 2029
- Cyber Insurance Market in Military and Aerospace Market size, share, and growth projections across regions and countries, 2022- 2029
- Cyber Insurance Market in Military and Aerospace market size and CAGR of key products, applications, and end-user verticals, 2022- 2029
- Short and long-term Cyber Insurance Market in Military and Aerospace Market trends, drivers, restraints, and opportunities
- Porter’s Five forces analysis
- Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products
- Latest market news and developments
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the compound Cyber Insurance Market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global compound Cyber Insurance Market, owing to the prevalence of lockdowns in numerous countries across the globe. Lockdowns led to the closure of various electronics manufacturing hubs across the globe, adversely affecting the supply chain of Cyber Insurance Market. This created a shortage of materials, components, and finished goods. However, the market is expected to recoup soon.
The report offers detailed segmentation of the global compound Cyber Insurance Market based on type, deposition technology, product, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
Based on product, the power segment generated the highest market share in 2020, garnering more than one-fourth of the global market. The transistor segment, on the other hand, would cite the fastest CAGR during the forecast period.
Product Overview
Management of Cyber Insurance Market deals with the creation of benefits for the past buying and provides incentives for future buying. The Rewards program provides the customer with strong value, with better customer penetration, cross-sales, and Market. A Market system comprises operational parameters that include; financing options, program design, and transaction types. It also incorporates different parameters of value such as redemption thresholds, reimbursement options, and earnings rates. Many organizations concentrate their activities on spending on Market programs. This allows the promotion of brands and continues to attract a new audience. It helps collect more information and insights to develop a more sophisticated customer profile. For the reason of its influence on the brand value and the capability of Cyber Insurance Market programs to sustain and attract potential customers, Market management is a key part of the seller strategy.
An in-depth qualitative and quantitative research of the global Cyber Insurance Market has been undertaken in this report. The study reckons various important aspects of the market by focusing on the historical and forecast data. Information pertaining to SWOT analysis as well as Porter’s five force model analysis has been encompassed in the report.
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Table of Contents
Market Overview
1.1 Product Definition and Market Characteristics
1.2 Global Cyber Insurance Market Size
1.3 Market Segmentation
1.4 Global Macroeconomic Analysis
1.5 SWOT Analysis
- Market Dynamics
2.1 Market Drivers
2.2 Market Constraints and Challenges
2.3 Emerging Market Trends
2.4 Impact of COVID-19
2.4.1 Short-term Impact
2.4.2 Long-term Impact
3 Associated Industry Assessment
3.1 Supply Chain Analysis
3.2 Industry Active Participants
3.2.1 Suppliers of Raw Materials
3.2.2 Key Distributors/Retailers
3.3 Alternative Analysis
3.4 The Impact of Covid-19 From the Perspective of Industry Chain
4 Market Competitive Landscape
4.1 Industry Leading Players
4.2 Industry News
4.2.1 Key Product Launch News
4.2.2 M and A and Expansion Plans
5 Analysis of Leading Companies
TOC Continued…!
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Cyber Insurance Market to Register Stunning CAGR of 25.3% during 2021-2028
