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市場調查報告書
商品編碼
635804

全球網路安全保險市場:各企業規模(中小企業、大企業),終端用戶產業(醫療,零售,BFSI),地區 - 成長,趨勢,預測(2018年∼2023年)

Cyber Security Insurance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

出版日期: | 出版商: Mordor Intelligence Pvt Ltd | 英文 120 Pages | 商品交期: 2-3個工作天內

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  • 全貌
  • 簡介
  • 目錄
簡介

全球網路安全保險市場,預計從2018年到2023年的調查期間以25.4%的年複合成長率發展,預計從2017年的45億2,000萬美元到2023年擴大到175億5,000萬美元。

本報告提供全球網路安全保險市場相關調查,市場概要,企業規模、終端用戶產業、各地區的市場趨勢,市場規模的變化與預測,成長要素及阻礙因素分析,競爭情形,主要企業的簡介等系統性資訊。

目錄

第1章 簡介

  • 主要的調查成果
  • 調查的前提條件
  • 市場定義
  • 調查結果

第2章 調查手法

第3章 摘要整理

第4章 市場動態

  • 市場概況
  • 促進因素
    • 由於電腦網路攻擊造成資訊洩漏增加
    • 雲端服務的利用增加
    • 網路虛擬化的擴大
  • 阻礙因素
    • 高成本
    • 規格的缺乏
  • 波特的五力分析
    • 買方議價能力
    • 供給企業談判力
    • 新加入業者的威脅
    • 替代品的威脅
    • 競爭企業間的敵對關係

第5章 全球網路安全保險市場:各市場區隔

  • 各企業規模
    • 中小企業
    • 大企業
  • 各終端用戶產業
    • 醫療
    • 零售
    • 銀行、金融服務、保險
    • IT、通訊
    • 製造
    • 其他
  • 各地區
    • 北美
    • 歐洲
    • 亞太地區
    • 其他地區

第6章 企業簡介

  • XL Group Ltd
  • American International Group, Inc.
  • Berkshire Hathaway
  • Zurich Insurance Co. Ltd
  • The Chubb Corporation
  • AON PLC
  • Bin Insurer Holding, LLC
  • Lockton Companies, Inc.
  • Security Scorecard
  • Allianz Global Corporate & Specialty
  • Munich Re Group

第7章 投資分析

第8章 市場未來展望

目錄
Product Code: 59174

The cybersecurity insurance market was valued at USD 7.36 billion in 2020 and is expected to reach USD 27.83 billion by 2026, registering a CAGR of 24.30%, over the forecast period (2021-2026). The increasing digitalization adoption, such as the cloud, Big Data, mobile technologies, IoT, and artificial intelligence (AI), in ever more areas of business and society, and the growing connectivity have increased the workload of already strained IT teams.

Key Highlights

  • Cases of unauthorized stealing or accessing sensitive business data, such as intellectual properties, employees' personal information, or even financial records, have been rising, which, in turn, is driving the cybersecurity insurance market.
  • However, cyber Insurance helps in guarding businesses against the potential effects of cyber-attacks. It helps an organization mitigate risk exposure by offsetting costs after a cyber-attack/breach has happened. To simplify, cyber Insurance is designed to cover the fees, expenses and legal costs associated with cyber breaches that occur after an organization has been hacked or from theft or loss of client/employee information
  • According to the Center for Strategic and International Studies (CSIS) and McAfee, cybercrimes, which include damage and destruction of data, stolen money, lost property, intellectual property theft, and other areas, currently cost the world almost USD 600 billion each year, or 0.8% of global GDP.
  • IT advances, communications technologies, and the smart energy grid are changing the landscape of every country's critical infrastructure and business networks. However, with rapidly evolving technology comes rapidly advancing threats. In 2019, businesses in the United Kingdom were victimized 7,073,069 times, while the US Department of Homeland Security informed that its data had been breached.​
  • Moreover, cyberattacks in the United States are rising rapidly and have reached an all-time high, primarily owing to the rapidly increasing number of connected devices in the region. In the United States, consumers are using public clouds, and many of their mobile applications are preloaded with their personal information for the convenience of banking, shopping, communication, etc. According to the White House Council of Economic Advisers, the US economy loses approximately USD 57 billion to USD 109 billion per year to harmful cyber activity. ​
  • Due to the ongoing COVID-19 outbreak, the countries across the world have implemented precautionary measures. While schools are being closed, and communities are asked to stay at home, and many organizations are finding a way to enable their employees to work from their homes. This has resulted in a rise in the adoption of video communication platforms. In the past four months, the new domain registration on these video communication platforms, including Zoom, has rapidly increased. According to the Checkpoint Security, since January 2020, more than 1700 unique domains were registered and 25% of which registered in the first week of March 2020. ​
  • In this pandemic, many restaurants switching to online ordering, hence the danger of cyber threats has increased. According to Restaurant Guard, March alone posted a 600% increase in email phishing scams. The company has also quoted that, the Insurance agents must ensure their clients' new business models are protected, and in many cases may have to educate clients on the new exposures and dangers they could face when collecting sensitive customer data such as physical addresses, phone numbers, financial information, and email addresses.

Key Market Trends

Healthcare Segment is Estimated to Hold a Significant Share of the Market Studied

  • Due to data proliferation, healthcare is emerging as a significant market for the global cybersecurity insurance market. Digitization has exponentially increased the volume and speed of healthcare data generation. As much as 80% of the data generated by the healthcare industry is likely to be in the cloud by 2020, according to HIPAA. Security is also becoming a major concern.
  • Personal data is valuable, which prompts the cybercriminals for a crime. Personal information is being sold on the dark web for as little as USD 5 for a credit card number, USD 30 for an entire identity, or up to USD 1,000 for medical records. It is among the few factors, which have led to an increased demand for cybersecurity.
  • The healthcare industry, across the world, is also witnessing multiple data breaches as the health-related data is moving rapidly toward electronic records. This has resulted in an increase in electronic health/medical records, which requires robust security solutions. According to the HIPAA, the top 3 data breaches in the healthcare sector in the United States witnessed a combined loss of more than 5.2 million patient records, including organizations like Accudoc Solutions, UnityPoint Health, and Employees retirement system of Texas.
  • Considering these factors, there has been an increase in the number of healthcare-related cyber laws and studies recently. Abbott and The Chertoff Group, security, and risk management advisory group, released key findings from a recent survey of 300 physicians and 100 hospital administrators on cybersecurity challenges in the hospital environment.​
  • In one Telehealth survey, 69% of the patients expressed that they prefer getting medical care without visiting the hospital. The telemedicine market is expected to grow at a healthy rate since more insurance companies are now offering coverage for these visits as well.

United States to Hold the Major Share in the North American Region

  • The United States is a primary hub for all the major organizations across the world. The expansion of the retail industry and the growth of IoT are driving the demand for smart devices and mobiles in the region. The rise in the cost of cyber attacks that can impact the market varies from individuals and corporates to the governments. Thus, securing the data has become a priority in the region.​
  • Additionally, the autonomous breach protection provider, Cynet, in its recently published State of Breach Protection 2020 Report, has mentioned that over 25% of security alerts are left unattended daily in the United States.
  • In the utility industry, the US government mandated the adoption of version 5 of the North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP) as the cybersecurity standard, and the healthcare industry abides by HIPPA requirements for securing data. Notably, the United States is experiencing an increasing number of cyber threats. According to the Identity Theft Resource Center (ITRC), the average number of breaches in the country has increased marginally over the past few years. ​
  • According to the ITRC's recent estimates, the average number of data breaches faced by the United States increased from 614 breaches in 2013 to 1473 breaches in 2019. Moreover, the companies in the region are seeking strategic acquisitions to gain more market share. For instance, AT&T introduced its new division called AT&T Cybersecurity by acquiring SIEM solution provider AlienVault.​

Competitive Landscape

The cybersecurity insurance is moderately consolidated, with major players offering superior technology and fostering their growth through their existing distribution channels. These technology leaders are investing in innovation, mergers, and acquisitions, and partnership activities to maintain a competitive edge in the market.

  • May 2020 - Coalition, the leading cyber insurance, and security company in the US are expanding its offering to Canada-based companies, providing proactive cybersecurity products and services and best-in-class cyber and technology error & omissions insurance to help keep businesses safe. The coalition will offer up to CAD 20 million of comprehensive insurance coverage supported by the financial strength of Swiss Re (A.M. Best A+) to companies with up to CAD 1 billion in annual revenue.
  • September 2019 - AXA XL and Accenture have partnered to offer global cyber-security expertise to AXA XL's underwriters, brokers, and clients to strengthen their cyber capabilities and recover from cyber-attacks.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Adoption of Cloud-based Services
    • 4.2.2 Rising Data Security Breaches
  • 4.3 Market Restraints
    • 4.3.1 Difficulties in Implementing Cyber Insurance and High Costs
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Industry Value Chain
  • 4.6 Industry Guidelines and Policies​

5 MARKET SEGMENTATION

  • 5.1 Organization Size
    • 5.1.1 Small and Medium Enterprises (SMEs)
    • 5.1.2 Large Enterprises
  • 5.2 End-user Industry
    • 5.2.1 Healthcare
    • 5.2.2 Retail
    • 5.2.3 BFSI
    • 5.2.4 IT and Telecom
    • 5.2.5 Manufacturing
    • 5.2.6 Other End-user Industries
  • 5.3 Geography
    • 5.3.1 North America
      • 5.3.1.1 United States
      • 5.3.1.2 Canada
    • 5.3.2 Europe
      • 5.3.2.1 Germany
      • 5.3.2.2 United Kingdom
      • 5.3.2.3 France
      • 5.3.2.4 Rest of Europe
    • 5.3.3 Asia Pacific
      • 5.3.3.1 India
      • 5.3.3.2 China
      • 5.3.3.3 Japan
      • 5.3.3.4 Singapore
      • 5.3.3.5 Rest of Asia Pacific
    • 5.3.4 Rest of the World

6 COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 XL Group Ltd (AXA S.A)
    • 6.1.2 American International Group Inc.
    • 6.1.3 Berkshire Hathaway​
    • 6.1.4 Zurich Insurance Co. Ltd
    • 6.1.5 The Chubb Corporation
    • 6.1.6 Aon PLC
    • 6.1.7 Bin Insurer Holding LLC​
    • 6.1.8 Lockton Companies Inc.
    • 6.1.9 Security Scorecard
    • 6.1.10 Allianz Global Corporate & Specialty
    • 6.1.11 Munich Re Group

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS