Global Cyber Security Insurance Market 2018, provides pin-point analysis for changing competitive dynamics. It also provides healthy CAGR during the Forecast period with Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Dallas, United States – May 16, 2018 —
Global Cyber Security Insurance Market 2018-2023:
The cyber security insurance market is expected to reach USD 17.55 billion in 2023 from USD 4.52 billion in 2017, registering a CAGR of 25.4%, during the forecast period (2018 – 2023). The scope of the report is limited to the size of organization and its usage in various industry verticals. The regions considered in the scope of the report include – North America, Europe, Asia-Pacific, and Rest of the World.
Rise in cyber data breaches and increasing adoption of cloud-based services are a few factors driving the growth of cyber security insurance market, whereas, high costs is inhibiting its growth.
Request For Sample Cyber Security Insurance Market @ http://orbisresearch.com/contacts/request-sample/2128316
Rise in Cyber Data Breaches:
In 2017, ransom-ware attacks such as NotPetya and WannaCry shook the entire world. The cyber data breaches are immensely impacting the consumers’ confidence, for instance, most of the cloud-based companies saw close to 46% dip in profit after a major data breach incident took place. Moreover, the global average cost of a data breach in 2017 was USD 3.6 million.
Equifax, one of the three largest credit agencies in the U.S., in 2017 suffered a breach that affected 143 million consumers. JPMorgan too witnessed one of the biggest bank breaches in history as hackers got access to the financial information of 3500 customers. Union bank of India was hacked in 2017 and USD 171 million was debited without bank’s authorization. All these incidents have led companies to buy cyber security insurances.
Asia-Pacific to Project the Fastest Growth:
Asia-Pacific is a very lucrative market for cyber security insurance companies. The companies in this region are prone to cyber-attacks owing to poor protection against cyber-attacks. Though cyber security insurance market is at nascent stage in this region but it is growing rapidly. In India, the demand for cyber security insurance rose by more than 50% in 2017 as compared to that with 2016. Around 250 companies, including banks, bought cyber security insurance in 2017. As of now, the cyber security insurance premium is INR 200 crore, which is expected to increase to INR 400 crore in years to come. Moreover, there is huge demand of this market from telecom service providers as well.
Key Developments in The Market:
March 2018 – XL Catlin and RedSeal announced a dynamic approach to cyber insurance, which uses an objective measurement of a network’s resilience to help underwriters more thoroughly evaluate their clients’ risks over time, helps clients continue to improve their cyber security and potentially improve their insurance terms.
XL GROUP LTD, AMERICAN INTERNATIONAL GROUP, INC., ZURICH INSURANCE Co. LTD, AON PLC, ALLIANZ GLOBAL CORPORATE & SPECIALTY, MUNICH RE GROUP, AND LOCKTON COMPANIES, INC., amongst others.
Browse Complete Report of Cyber Security Insurance Market with TOC @ http://orbisresearch.com/cyber-security-insurance-market
December 2017 – American International Group, Inc. announced a new cyber benchmarking model that quantifies and scores client cyber risk. The AIG model evaluates a client’s cyber security maturity against 10 common attack patterns across 11 commonly used technology devices
Reasons To Purchase This Report:
To know, how various factors are driving the market with respect to the global market scenario
To analyze various market perspectives, with the help of Porter’s five forces analysis
To know, which of the regions is expected to witness the fastest growth rate during the forecast period
To identify the latest developments, market shares, and strategies that are employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report:
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
XL Group Ltd, American International Group, Inc., Zurich Insurance Co. Ltd, AON PLC, Allianz Global Corporate & Specialty, Munich Re Group, and Lockton Companies, Inc.
Major Points from TOC:
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Cyber Security Insurance Market Segmentation
6. Competitive Intelligence – Company Profiles
7. Investment Analysis
8. Future Outlook of Cyber Security Insurance Market
Place Purchase Order for Cyber Security Insurance Market Report @ http://orbisresearch.com/contact/purchase/2128316
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Name: Hector Costello
Organization: Orbis Research
Address: 4144N Central Expressway, Suite 600, Dallas, Texas – 75204, U.S.A.
Phone: +1 (214) 884-6817
This content is produced independently of Reuters Editorial News. For content inquiry, please contact firstname.lastname@example.org
This news is published on Reuters.