Global Cyber Security Insurance Market have varying product lines, mostly depending on the customer requirements. The report also provides the various key strategies adopted by the leading players as the demand is growing from Asia-Pacific economies. Current market share in been derived on the basis of thorough understanding of the forecast and dynamics of Cyber security in various geographies. Also, the global market size has also been laid down based on the Porter’s Five Forces Analysis for the industry players’ decision making.
Global Cyber Security Insurance Market size was USD 3.89 billion in 2017 and is expected to grow to USD 23.07 billion in 2025 owing to growing intensity of cyber-attacks across the world. The increasing digital trends like mobile technologies, the cloud, Big Data, IoT as well as artificial intelligence (AI), in more and more zones of business as well as society, along with the rising connectivity of the whole thing, has augmented the amount of work of already overwrought IT teams.
Global Cyber security Insurance Market anticipated to grow with the highest CAGR of 25.3% in the forecast period 2018-2025.
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Cyber Security Insurance Market: Key Players are Aon PLC, XL Group Ltd, Zurich Insurance Co. Ltd, Lloyds Bank PLC, American International Group Inc., The Chubb Corporation, Beazley Group, Allianz SE, Security Scorecard and Munich Re Group.
Additionally, Global Cyber Security Insurance Market has been moderately fragmented, with prominent players delivering greater technology as well as raising their growth over their current distribution channels. These technological leaders are spending towards innovation, mergers & acquisitions plus partnership activities, in order to uphold a competitive landscape within the market.
Furthermore, growing vulnerability of cyber exploitation due to rise in connected devices across the world and emergence of Internet of Things (IoT) have driven the majorly the Cyber security Insurance Market. Along with the investment in the Cyber security solutions, which include hardware and software solutions, companies have also started to take cyber insurance to mitigate risks. Even if the cyber insurance market is projected to grow in the future, there are quite a few challenges which need to be addressed by the insurers and mentioned further in the report.
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Some of the major drivers of Cyber Security Insurance Market across the globe include:
• Instances of illicit stealing or gaining access to sensitive business documents, such as intellectual assets, personal data of employees’ or even financial chronicles, have been increasing.
• Cloud computing is amongst one of the most speedily rising recent technologies, eradicating the old-style boundaries of IT, generating innovative markets, urging the mobility inclination, permitting advances in integrated communications.
• As per a recent analysis, in upcoming future, approximately 75% of the organizations are predictable to transfer their applications to the cloud.This intensifying adoption of cloud solutions, by businesses operating all across the globe, frequently has to face a dearth of attention to the stages of security accessible by the espoused solutions. Besides, cloud applications are very much prone to cyber threats.
Some Key Highlight Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Cyber security Insurance Market Overview, by Segments
Chapter 5. Global Cyber security insurance Market Overview, by Region
Chapter 6. Company Profiles
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