Global Cybersecurity Insurance Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Cybersecurity insurance is also known as cyber liability insurance or cyber insurance. It is designed to assist an organization with a cyber-related security breach or similar events to reduce the financial risks related to business online. It offers coverages associated with first parties and claims by third parties for mitigating risk exposure by offsetting costs including recovery of internet-based cyber losses. The increasing number of mandatory cybersecurity regulations and legislation, rising frequency and sophistication of cyber threats, and growing adoption of cloud-based services are the several prominent factors fostering the global market demand. For instance, according to Statista, there has been a steady rise in public cloud services end-use expenditure from 2017 to 2020, which grows from USD 145 Billion to USD 270 billion respectively. Consequentially, the rising spending on cloud-based services is fueling the demand for cybersecurity insurance around the world. However, high capital investments required and lack of understanding, technical knowledge, and absence of historical cyber data impede the growth of the market over the forecast period of 2022-2028. Also, growing incidences of data security breaches and rising penetration of blockchain technology and artificial intelligence for risk analytics are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Cybersecurity Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of prominent market vendors and rising incidences of cyberattacks. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the development of the IT sector, rising digitalization, and the growth of countries like South Korea, India, Japan, Australia, and China, would create lucrative growth prospects for the Cybersecurity Insurance Market across the Asia-Pacific region.
Major market players included in this report are:
XL Group Ltd
American International Group Inc.
Berkshire Hathaway Inc.
Zurich Insurance Co. Ltd
The Chubb Corporation
Aon PLC
Bin Insurer Holding LLC
Lockton Companies Inc.
Security Scorecard Inc.
Allianz Global Corporate & Specialty
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Insurance Coverage:
Data breach
Cyber liability
By Organization Size:
Small and Medium Enterprises (SMEs)
Large Enterprises
By End-user Industry:
Healthcare
Retail
BFSI
IT and Telecom
Manufacturing
Other End-user Industries
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Cybersecurity Insurance Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
- 1.2.1. Cybersecurity Insurance Market, by Region, 2020-2028 (USD Million)
- 1.2.2. Cybersecurity Insurance Market, by Insurance Coverage, 2020-2028 (USD Million)
- 1.2.3. Cybersecurity Insurance Market, by Organization Size, 2020-2028 (USD Million)
- 1.2.4. Cybersecurity Insurance Market, by End-user Industry, 2020-2028 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Cybersecurity Insurance Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Cybersecurity Insurance Market Dynamics
- 3.1. Cybersecurity Insurance Market Impact Analysis (2020-2028)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing number of mandatory cybersecurity regulations and legislation
- 3.1.1.2. Rising frequency and sophistication of cyber threats
- 3.1.1.3. Growing adoption of cloud-based services
- 3.1.2. Market Challenges
- 3.1.2.1. Rising data privacy concerns
- 3.1.2.2. Lack of understanding, technical knowledge, and absence of historical cyber data
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing incidences of data security breaches
- 3.1.3.2. Rising penetration of blockchain technology and artificial intelligence for risk analytics
Chapter 4. Global Cybersecurity Insurance Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2028)
- 4.2. PEST Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.3. Investment Adoption Model
- 4.4. Analyst Recommendation & Conclusion
- 4.5. Top investment opportunity
- 4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1.1. Assessment of the overall impact of COVID-19 on the industry
- 5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Cybersecurity Insurance Market, by Insurance Coverage
- 6.1. Market Snapshot
- 6.2. Global Cybersecurity Insurance Market by Insurance Coverage, Performance - Potential Analysis
- 6.3. Global Cybersecurity Insurance Market Estimates & Forecasts by Insurance Coverage, 2018-2028 (USD Million)
- 6.4. Cybersecurity Insurance Market, Sub Segment Analysis
- 6.4.1. Data breach
- 6.4.2. Cyber liability
Chapter 7. Global Cybersecurity Insurance Market, by Organization Size
- 7.1. Market Snapshot
- 7.2. Global Cybersecurity Insurance Market by Organization Size, Performance - Potential Analysis
- 7.3. Global Cybersecurity Insurance Market Estimates & Forecasts by Organization Size, 2018-2028 (USD Million)
- 7.4. Cybersecurity Insurance Market, Sub Segment Analysis
- 7.4.1. Small and Medium Enterprises (SMEs)
- 7.4.2. Large Enterprises
Chapter 8. Global Cybersecurity Insurance Market, by End-user Industry
- 8.1. Market Snapshot
- 8.2. Global Cybersecurity Insurance Market by End-user Industry, Performance - Potential Analysis
- 8.3. Global Cybersecurity Insurance Market Estimates & Forecasts by End-user Industry, 2018-2028 (USD Million)
- 8.4. Cybersecurity Insurance Market, Sub Segment Analysis
- 8.4.1. Healthcare
- 8.4.2. Retail
- 8.4.3. BFSI
- 8.4.4. IT and Telecom
- 8.4.5. Manufacturing
- 8.4.6. Other End-user Industries
Chapter 9. Global Cybersecurity Insurance Market, Regional Analysis
- 9.1. Cybersecurity Insurance Market, Regional Market Snapshot
- 9.2. North America Cybersecurity Insurance Market
- 9.2.1. U.S. Cybersecurity Insurance Market
- 9.2.1.1. Insurance Coverage breakdown estimates & forecasts, 2018-2028
- 9.2.1.2. Organization Size breakdown estimates & forecasts, 2018-2028
- 9.2.1.3. End-user Industry breakdown estimates & forecasts, 2018-2028
- 9.2.2. Canada Cybersecurity Insurance Market
- 9.3. Europe Cybersecurity Insurance Market Snapshot
- 9.3.1. U.K. Cybersecurity Insurance Market
- 9.3.2. Germany Cybersecurity Insurance Market
- 9.3.3. France Cybersecurity Insurance Market
- 9.3.4. Spain Cybersecurity Insurance Market
- 9.3.5. Italy Cybersecurity Insurance Market
- 9.3.6. Rest of Europe Cybersecurity Insurance Market
- 9.4. Asia-Pacific Cybersecurity Insurance Market Snapshot
- 9.4.1. China Cybersecurity Insurance Market
- 9.4.2. India Cybersecurity Insurance Market
- 9.4.3. Japan Cybersecurity Insurance Market
- 9.4.4. Australia Cybersecurity Insurance Market
- 9.4.5. South Korea Cybersecurity Insurance Market
- 9.4.6. Rest of Asia Pacific Cybersecurity Insurance Market
- 9.5. Latin America Cybersecurity Insurance Market Snapshot
- 9.5.1. Brazil Cybersecurity Insurance Market
- 9.5.2. Mexico Cybersecurity Insurance Market
- 9.6. Rest of The World Cybersecurity Insurance Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. XL Group Ltd.
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. American International Group Inc.
- 10.2.3. Berkshire Hathaway Inc.
- 10.2.4. Zurich Insurance Co. Ltd
- 10.2.5. The Chubb Corporation
- 10.2.6. Aon PLC
- 10.2.7. Bin Insurer Holding LLC
- 10.2.8. Lockton Companies Inc.
- 10.2.9. Security Scorecard Inc.
- 10.2.10. Allianz Global Corporate & Specialty
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption