Global Cyber Insurance Market Size, Trends and Growth Opportunity, By Component (Solutions and Services), By Insurance Type (Packaged and Standalone), By Insurance Coverage (Data Breach, Cyber Liability, and Source/target), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By Application (Information and Communication Technology, Financial Services, Manufacturing, Retail, Healthcare, and Others), By Coverage Type (First Party Coverage and Third-Party Coverage), By End User (Technology Provider and Insurance Provider) By Region and forecast till 2027.
Global Cyber Insurance Market
Global Cyber Insurance Market was valued at USD 11.90 billion in 2021 and is slated to reach at USD 29.20 billion by 2027 at a CAGR of 19.48% from 2022-2027.
In the event that a third party cyber-attack or data breach occurs at a client's firm, third party cyber liability insurance provides liability protection for businesses. The legal costs associated with a cyber-liability litigation, including any verdicts or settlements, are covered by this policy.
Market Drivers
Easy access to personal data and information online, as well as an increase in social media usage, have encouraged cybercriminals to commit crimes that primarily include the selling of personal data, such as identities, credit card numbers, medical records, and many others, on the dark web. All of these reasons have led to an increase in the market's demand for cyber insurance. Due to the fact that a significant section of the world's population spends the majority of their time online, there are significant cyber dangers, which might primarily fuel the demand for cyber insurance. The market's demand for cyber insurance is growing significantly as a result of several steps launched by governmental and regulatory bodies to fortify defenses.
Market Restraints
Throughout the time covered by the forecast, a lack of expertise and technical understanding, as well as growing worries about cyber security, data security, and information privacy, will be important growth inhibitors for the industry. Moreover, lack of historical cyber and ignorance will emerge as the biggest and most important obstacles to the market's expansion.
Impact of COVID-19
Customers have been obliged to work from home and stay inside due to the COVID-19 pandemic epidemic. This has raised concerns about cyber insurance during the pandemic and elevated the possibility of cyber-attacks. The need for cyber insurance may increase as a result of data.
Global Cyber Insurance Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary4
Global Cyber Insurance Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to mearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Cyber Insurance Market, By Component
5.1 Y-o-Y Growth Comparison, By Component
5.2 Global Cyber Insurance Market Share Analysis, By Component
5.3 Global Cyber Insurance Market Size and Forecast, By Component
5.3.1 Solutions
5.3.2 Services
6 Global Cyber Insurance Market, By Insurance Type
6.1 Y-o-Y Growth Comparison, By Insurance Type
6.2 Global Cyber Insurance Market Share Analysis, By Insurance Type
6.3 Global Cyber Insurance Market Size and Forecast, By Insurance Type
6.3.1 Packaged
6.3.2 Standalone
7 Global Cyber Insurance Market, By Insurance Coverage
7.1 Y-o-Y Growth Comparison, By Insurance Coverage
7.2 Global Cyber Insurance Market Share Analysis, By Insurance Coverage
7.3 Global Cyber Insurance Market Size and Forecast, By Insurance Coverage
7.3.1 Data Breach
7.3.2 Cyber Liability
7.3.3 Source/target
8 Global Cyber Insurance Market, By Organization Size
8.1 Y-o-Y Growth Comparison, By Organization Size
8.2 Global Cyber Insurance Market Share Analysis, By Organization Size
8.3 Global Cyber Insurance Market Size and Forecast, By Organization Size
8.3.1 Large Enterprises
8.3.2 Small and Medium-Sized Enterprises
9 Global Cyber Insurance Market, By Application
9.1 Y-o-Y Growth Comparison, By Application
9.2 Global Cyber Insurance Market Share Analysis, By Application
9.3 Global Cyber Insurance Market Size and Forecast, By Application
9.3.1 Information and Communication Technology
9.3.2 Financial Services
9.3.3 Manufacturing
9.3.4 Retail
9.3.5 Healthcare
9.3.6 Others
10 Global Cyber Insurance Market, By Coverage Type
10.1 Y-o-Y Growth Comparison, By Coverage Type
10.2 Global Cyber Insurance Market Share Analysis, By Coverage Type
10.3 Global Cyber Insurance Market Size and Forecast, By Coverage Type
10.3.1 Fluorescent In Situ Hybridization
10.3.2 First Party Coverage
10.3.3 Theft and Fraud
11.1 Y-o-Y Growth Comparison11 Global Cyber Insurance Market, By End Use, By End User
11.2 Global Cyber Insurance Market Share Analysis, By End User
11.3 Global Cyber Insurance Market Size and Forecast, By End User
11.3.1 Technology Provider
11.3.2 Insurance Provider
12 Global Cyber Insurance Market, By Region
12.1 Global Cyber Insurance Market Share Analysis, By Region
12.2 Global Cyber Insurance Market Share Analysis, By Region
12.3 Global Cyber Insurance Market Size and Forecast, By Region
13 North America Global Cyber Insurance Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 North America Global Cyber Insurance Market Share Analysis, By Component
13.3 North America Global Cyber Insurance Market Share Analysis, By Insurance Type
13.4 North America Global Cyber Insurance Market Share Analysis, By Insurance Coverage
13.5 North America Global Cyber Insurance Market Share Analysis, By Organization Size
13.6 North America Global Cyber Insurance Market Share Analysis, By Application
13.7 North America Global Cyber Insurance Market Share Analysis, By Coverage Type
13.8 North America Global Cyber Insurance Market Share Analysis, By End User
13.9 North America Global Cyber Insurance Market Share Analysis, By Distribution Channel
13.10 North America Global Cyber Insurance Market Size and Forecast, By Country
13.10.1 U.S.
13.10.2 Canada
13.10.3 Mexico
14Europe Global Cyber Insurance Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Europe Global Cyber Insurance Market Share Analysis, By Component
14.3 Europe Global Cyber Insurance Market Size and Forecast, By Insurance Type
14.4 Europe Global Cyber Insurance Market Size and Forecast, By Insurance Coverage
14.5 Europe Global Cyber Insurance Market Size and Forecast, By Organization Size
14.6 Europe Global Cyber Insurance Market Size and Forecast, By Control Type
14.7 Europe Global Cyber Insurance Market Size and Forecast, By Coverage Type
14.8Europe Global Cyber Insurance Market Size and Forecast, By End User
14.9 Europe Global Cyber Insurance Market Size and Forecast, By Distribution Channel
14.10Europe Global Cyber Insurance Market Size and Forecast, By Country
14.10.1 Germany
14.10.2 France
14.10.3 UK
14.10.4. Rest of Europe
15Asia Pacific Global Cyber Insurance Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Asia Pacific Global Cyber Insurance Market Share Analysis, By Component
15.3 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Insurance Type
15.4 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Insurance Coverage
15.5 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Organization Size
15.6 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Control Type
15.7 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Coverage Type
15.8 Asia Pacific Global Cyber Insurance Market Size and Forecast, By End User
15.9 Asia Pacific Global Cyber Insurance Market Size and Forecast, By Distribution Channel
15.10Asia Pacific Global Cyber Insurance Market Size and Forecast, By Country
15.10.1 China
15.10.2 Japan
15.10.3 India
15.10.4. Rest of Asia Pacific
16Latin America Global Cyber Insurance Market Analysis and Forecast (2022-2027)
16.1 Introduction
16.2 Latin America Global Cyber Insurance Market Share Analysis, By Component
16.3 Latin America Global Cyber Insurance Market Share Analysis, By Insurance Type
16.4 Latin America Global Cyber Insurance Market Share Analysis, By Insurance Coverage
16.5 Latin America Global Cyber Insurance Market Share Analysis, By Organization Size
16.6 Latin America Global Cyber Insurance Market Share Analysis, By Application
16.7 Latin America Global Cyber Insurance Market Share Analysis, By Coverage Type
16.8 Latin America Global Cyber Insurance Market Share Analysis, By End User
16.9 Latin America Global Cyber Insurance Market Share Analysis, By Distribution Channel
16.10 Latin America Global Cyber Insurance Market Size and Forecast, Country
16.10.1. Brazil
16.10.2 Rest of Latin America
17Middle East Global Cyber Insurance Market Analysis and Forecast (2022-2027)
17.1 Introduction
17.2 Middle East Global Cyber Insurance Market Share Analysis, By Component
17.3 Middle East Global Cyber Insurance Market Size and Forecast, By Insurance Type
17.4 Middle East Global Cyber Insurance Market Size and Forecast, By Insurance Coverage
17.5 Middle East Global Cyber Insurance Market Size and Forecast, By Organization Size
17.6 Middle East Global Cyber Insurance Market Size and Forecast, By Control Type
17.7 Middle East Global Cyber Insurance Market Size and Forecast, By Coverage Type
17.8 Middle East Global Cyber Insurance Market Size and Forecast, By End User
17.9 Middle East Global Cyber Insurance Market Size and Forecast, By Distribution Channel
17.10 Middle East Global Cyber Insurance Market Size and Forecast, By Country
17.10.1. Saudi Arabia
17.10.2. UAE
17.10.3. Egypt
17.10.4. Kuwait
17.10.5. South Africa
18Competitive Analysis
18.1 Competition Dashboard
18.2 Market share Analysis of Top Vendors
18.3 Key Development Strategies
19Company Profiles
19.1 Wipro Limited (India)
19.1.1 Overview
19.1.2 Offerings
19.1.3 Key Financials
19.1.4 Business Segment & Geographic Overview
19.1.5 Key Market Developments
19.1.6 Key Strategies
19.2. Broadcom (U.S)
19.2.1 Overview
19.2.2 Offerings
19.2.3 Key Financials
19.2.4 Business Segment & Geographic Overview
19.2.5 Key Market Developments
19.2.6 Key Strategies
19.3. Capgemini (France)
19.3.1 Overview
19.3.2 Offerings
19.3.3 Key Financials
19.3.4 Business Segment & Geographic Overview
19.3.5 Key Market Developments
19.3.6 Key Strategies
19.4 Accenture (Ireland)
19.4.1 Overview
19.4.2 Offerings
19.4.3 Key Financials
19.4.4 Business Segment & Geographic Overview
19.4.5 Key Market Developments
19.4.6 Key Strategies
19.5 HCL Technologies Limited (India)
19.5.1 Overview
19.5.2 Offerings
19.5.3 Key Financials
19.5.4 Business Segment & Geographic Overview
19.5.5 Key Market Developments
19.5.6 Key Strategies
19.6 American International Group
19.6.1 Overview
19.6.2 Offerings
19.6.3 Key Financials
19.6.4 Business Segment & Geographic Overview
19.6.5 Key Market Developments
19.6.6 Key Strategies
19.7 Inc. (U.S.)
19.7.1 Overview
19.7.2 Offerings
19.7.3 Key Financials
19.7.4 Business Segment & Geographic Overview
19.7.5 Key Market Developments
19.7.6 Key Strategies
19.8 Aon Plc (U.K.)
19.8.1 Overview
19.8.2 Offerings
19.8.3 Key Financials
19.8.4 Business Segment & Geographic Overview
19.8.5 Key Market Developments
19.8.6 Key Strategies
19.9 IBM (U.S.)
19.9.1 Overview
19.9.2 Offerings
19.9.3 Key Financials
19.9.4 Business Segment & Geographic Overview
19.9.5 Key Market Developments
19.9.6 Key Strategies
19.10 Check Point Software Technologies Ltd. (Israel)
19.10.1 Overview
19.10.2 Offerings
19.10.3 Key Financials
19.10.4 Business Segment & Geographic Overview
19.10.5 Key Market Developments
19.10.6 Key Strategies
