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Global Cyber Insurance Market Share, Size, Trends, Forecast, Growth, Report, Analysis: By Company Size: Small and Medium Enterprises, Large Enterprises; By Application: BFSI, Healthcare, IT and Telecom, Retail, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028
Global Cyber Insurance Market Outlook
The global cyber insurance market attained USD 6 billion in 2020 and is expected to grow at a CAGR of 20% during the forecast period of 2023-2028.
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As the demand for cyber insurance policies increases, the cyber insurance industry is thriving. The growth is ascribed to the increase in cyber-attacks such as the coordinated cyber-attack on the Ukrainian national energy distribution businesses, system infringement of health insurer Anthem Inc., infringement of the unclassified network of the White House, and the huge client data breach that LinkedIn and Twitter faced over the recent times. These events have adverse effects on companies, and the same has caused enormous losses for the organisations involved. As a result, there is rising awareness regarding cyber hazards, resulting in higher cyber liability insurance policies being adopted.
Properties and Applications
Cyber insurance is an insurance product used to safeguard companies and individual customers from internet-based hazards and risks associated with infrastructure and operations related to information technology.
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Based on its application, the cyber insurance market can be segmented into:
- BFSI
- Healthcare
- IT and Telecom
- Retail
- Others
Based on its company size, the cyber insurance market can be categorised as small and medium enterprises and large enterprises.
The EMR report looks into the regional cyber insurance markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The increased awareness of cyber danger among high-level managers and high cyber-related losses are boosting the cyber insurance market growth. It is also probable that the application of data security legislation in emerging nations will drive the cyber insurance market as well. The difficulty in quantifying the risk and negligence of the client are the constraints for this market that might hinder the industry growth in the coming years.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global cyber insurance market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- AON Plc
- American International Group, Inc.
- Allianz Global Corporate & Specialty (Allianz Group)
- Berkshire Hathaway Speciality Insurance (NYSE: BRK.A)
- Lockton, Inc.
- Chubb Group Holdings Inc.
- Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
- Xl Catlin Insurance Co. UK Ltd.
- Zurich Insurance Co. Ltd. (Zurich Insurance Group AG)
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Company Size, Application, Region |
| Breakup by Company Size | Small and Medium Enterprises, Large Enterprises |
| Breakup by Application | BFSI, Healthcare, IT and Telecom, Retail, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | AON Plc, American International Group, Inc., Allianz Global Corporate & Specialty (Allianz Group), Berkshire Hathaway Speciality Insurance, Lockton, Inc., Chubb Group Holdings Inc., Munich Re, Xl Catlin Insurance Co. UK Ltd. (AXA), Zurich Insurance Co. Ltd. (Zurich Insurance Group AG), Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cyber Insurance Market Analysis
8.1 Key Industry Highlights
8.2 Global Cyber Insurance Historical Market (2018-2022)
8.3 Global Cyber Insurance Market Forecast (2023-2028)
8.4 Global Cyber Insurance Market by Company Size
8.4.1 Small and Medium Enterprises
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Large Enterprises
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Cyber Insurance Market by Application
8.5.1 BFSI
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Healthcare
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 IT and Telecom
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Retail
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Cyber Insurance Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Cyber Insurance Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Cyber Insurance Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Cyber Insurance Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.2 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Cyber Insurance Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Cyber Insurance Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Aon Plc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 American International Group Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Allianz Global Corporate and Specialty SE
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Berkshire Hathaway Specialty Insurance Co.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Lockton Companies Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Chubb Group Holdings Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Munich Re
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Xl Catlin Insurance Co. UK Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Zurich Insurance Co. Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cyber Insurance Market: Key Industry Highlights, 2018 and 2028
2. Global Cyber Insurance Historical Market: Breakup by Company Size (USD Million), 2018-2022
3. Global Cyber Insurance Market Forecast: Breakup by Company Size (USD Million), 2023-2028
4. Global Cyber Insurance Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Cyber Insurance Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Cyber Insurance Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Cyber Insurance Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Cyber Insurance Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Cyber Insurance Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Cyber Insurance Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Cyber Insurance Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Cyber Insurance Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Cyber Insurance Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Cyber Insurance Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Cyber Insurance Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Cyber Insurance Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Cyber Insurance Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Cyber Insurance Market Structure
Key Questions Answered in the Report
In 2020, the global cyber insurance market attained a value of nearly USD 6 billion.
The market is projected to grow at a CAGR of 20% between 2023 and 2028.
The major drivers of the industry such as increasing demand for cyber insurance policies, increase in cyber-attacks, growing number of mandatory legislations for data security in different end-users, and increase in adoption of cyber insurance products are expected to aid the industry growth.
The increased awareness of cyber danger among high-level managers and high cyber-related losses and the application of data security legislation in emerging nations are the key market trends guiding the growth of the cyber insurance market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa.
The major applications of the product include BFSI, healthcare, IT and telecom, retail and others.
Small and medium enterprises and large enterprises are the major company sizes in the industry.
The major applications include BFSI, healthcare, IT and telecom, and retail, among others.
The major players in the industry are Aon Plc, American International Group Inc., Allianz Global Corporate and Specialty SE, Berkshire Hathaway Speciality Insurance Co, Lockton Companies Inc., Chubb Group Holdings Inc., Munich Re, Xl Catlin Insurance Co. UK Ltd., and Zurich Insurance Co Ltd, among others.
Analyst Review
The global cyber insurance market attained a value of USD 6 billion in 2020 driven by increasing awareness about cyber-attacks. Aided by the increasing demand for cyber insurance policies and growing number of mandatory legislations for data security in different end-users , the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 20%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its application, the cyber insurance industry can be segmented into BFSI, healthcare, IT and telecom, retail and others. On the basis of company size, the industry is divided into small and medium enterprises and large enterprises. The major regional markets for the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Aon Plc, American International Group, Inc., Allianz Global Corporate and Specialty SE , Berkshire Hathaway Speciality Insurance Co, Lockton Companies Inc., Chubb Group Holdings Inc., Munich Re, Xl Catlin Insurance Co. UK Ltd., and Zurich Insurance Co Ltd, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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