Cybersecurity insurance market worth $29.2 billion by 2027

CHICAGO , June 21, 2022 /PRNewswire/ — According to a research report “Cybersecurity insurance Market by Component (Solutions & Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber ​​Liability), Organization Size, End User (Technology & Insurance), and Region – Global Forecast to 2027″, released by MarketsandMarkets™, the Global Cybersecurity Insurance Market Size in the Post-COVID-19 Scenario is expected to grow from $11.9 billion in 2022 at $29.2 billion by 2027, at a CAGR of 19.6% over the forecast period.

MarketsandMarkets_Logo

Browse the in-depth table of contents at “Cybersecurity Insurance Market

441 – Tables
64 – Numbers
313 – Pages

Download the PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47709373

By organization size, the small and medium business segment has the highest growth rate during the forecast period

SMBs are mainly adopting cybersecurity insurance solutions and services to protect against cyberattacks and due to increasing fraud cases. Insurance company Beazley revealed that 60% of ransomware attacks target SMBs. Emsisoft, an antivirus software company, said the companies paid a ransom of $1.3 billion to cyberattackers in 2019. SMBs are more vulnerable to cyberattacks because their servers are easier to access than large networks. SMBs are expected to spend more budgets on cybersecurity insurance in the coming years due to soaring cases of cybersecurity-induced attacks and increased mandatory legislation during the pandemic.

Asia Pacific is expected to witness the highest growth rate during the forecast period

Asia Pacific countries are very concerned about increasing security spending due to the ever-growing threat landscape. The region includes emerging economies, such as China, JapanANZ and Singapore. With effective government regulations and technological advancements, cybersecurity insurance is seeing strong growth opportunities in this region. Various developments are taking place in Asia Pacific, regarding the adoption of technologies such as BI tools, cloud, analytics and rapid infrastructure development. Rising regulatory developments, with increasing fines and penalties for non-compliance, are expected to meet cybersecurity insurance market demand in Asia Pacific in the future. Zurich Insurance said the cybersecurity insurance market is expected to grow significantly in Asia Pacific. AIG, Allianz, Chubb and Zürich are among the leading players in cybersecurity insurance in Asia Pacific.

Request a free sample report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=47709373

Market players

Technology providers covered by the cybersecurity insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber ​​Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US ), Accenture (Ireland), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US) and Founder Shield (US). Insurance vendors covered in the Cyber ​​Security Insurance market are Allianz (Germany)AIG (USA), Aon (UK), Arthur J. Gallagher & Co (United States), Travelers Insurance (United States), AXA XL (United States), AXIS Capital (Bermuda), Beazley (UK), Chubb (Swiss), CNA Financial (USA), Fairfax Financial (Canada), Liberty Mutual (USA), Lloyd’s of London (UK), Lockton (USA), Munich Re Group (Germany) and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US) United), Kovrr (Israel), Sayata Laboratories (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US) and Cronus Cyber ​​Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cybersecurity insurance market.

Browse adjacent markets: Information Security Market Research Reports & Advice

cyber security Market by Component (Software, Hardware, and Services), Software (IAM, Encryption, APT, Firewall), Security Type, Deployment Mode, Organization Size, Vertical, and Region (2022-2026)

Insurance analysis Market by Component (Tools & Services), Application (Claims Management, Risk Management, Customer Management & Personalization, Process Optimization), Deployment Mode, Organization Size, End User, and Region (2022-2026)

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats that will impact 70%-80% of global business revenue. Currently serving 7,500 customers worldwide, including 80% of global Fortune 1000 companies as customers. Nearly 75,000 senior executives from eight industries around the world approach MarketsandMarkets™ for their revenue decision issues.

Our 850 full-time analysts and MarketsandMarkets™ SMEs track global high-growth markets by following the “Growth Engagement Model – GEM”. The GEM aims for proactive collaboration with customers to identify new opportunities, identify most important customers, write “Attack, Avoid and Defend” strategies, identify additional sources of revenue for the company and its competitors. MarketsandMarkets™ now offers 1,500 MicroQuadrants (positioning top performers among Leaders, Emerging Companies, Innovators, Strategic Players) each year in high-growth emerging segments. MarketsandMarkets™ is determined to benefit over 10,000 companies this year for their revenue planning and help them bring their innovations/disruptions to market by providing research ahead of the curve.

MarketsandMarkets’ flagship competitive intelligence and market research platform, “Knowledge Store”, connects over 200,000 markets and entire value chains for a deeper understanding of unmet information, as well as market sizing and niche market forecasts.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Office 430
Northbrook, IL 60062
UNITED STATES: +1-888-600-6441
Email: [email protected]
Research overview: https://www.marketsandmarkets.com/ResearchInsight/cyber-insurance-market.asp
Visit our website: https://www.marketsandmarkets.com
Source of content: https://www.marketsandmarkets.com/PressReleases/cyber-insurance.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

Quote

Quote

Show original content:https://www.prnewswire.com/news-releases/cybersecurity-insurance-market-worth-29-2-billion-by-2027–exclusive-report-by-marketsandmarkets-301571822.html

SOURCE Markets and Markets

Comments are closed.