Cybersecurity Insurance Market Expected to Earn $ 20.4 Billion by 2025
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By organization size, the large enterprise segment will lead the market in 2020
Large companies are organizations with more than 1,000 employees. These organizations invest heavily in advanced technologies to increase overall productivity and efficiency. Large enterprises are widely opting for cybersecurity assurance solutions and should invest significantly in advanced cybersecurity assurance solutions in order to provide optimal security to the intense competitive environment of their businesses.
Large enterprises have adopted cybersecurity assurance solutions because they use a large number of cloud and Internet of Things (IoT) based applications which are very susceptible to cyber attacks. Additionally, strict regulatory pressure is boosting cybersecurity risk awareness with the need for cybersecurity assurance solutions. For example, in the United States, the CCPA is one of the strictest data protection laws.
North America has sustainable and well-established economies, which allow it to invest significantly in research and development (R&D) activities, thus contributing to the development of new technologies in the cybersecurity insurance market. The presence of the majority of key players in the cybersecurity insurance market is expected to be the major market growth driver in this region. Key players, such as BitsSight Technologies, Prevalent,
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Technology vendors covered in the Cyber Security Insurance Market report include
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