[307 Pages Report] The cybersecurity insurance revenue totaled at US$ 9.5 Billion in 2021. The cybersecurity insurance market is expected to reach US$ 61.2 Billion by 2032, exhibiting growth at 18.2% CAGR between 2022 and 2032.
Businesses are increasingly embracing premium and dynamic infrastructures in order to reduce problems and security breaches, which is expected to fuel the cybersecurity market's growth in the coming years.
Attributes | Details |
---|---|
Cybersecurity Insurance Market CAGR (2022 to 2032) | 18.2% |
Market Size (2022) | US$ 11.5 Billion |
Market Size (2032) | US$ 61.2 Billion |
MGAs (managing general agents) specializing in cyber insurance and Cybersecurity are taking advantage of the growing need for fully packaged solutions in the market. There are significant differences in terms, conditions, coverages, and limits of cyber insurance policies.
Despite being not fully intentional, the variation in cyber policies is a natural evolution of the process. Nevertheless, it results in misunderstandings for policyholders about which policies are suitable. As a result, reinsurers also have a difficult time assessing their risk exposure concerning different risks.
With the COVID-19 pandemic crisis looming, multiple governments and regulatory agencies have mandated that public and private organizations adopt new practices for implementing remote work and social distancing. Since then, various organizations have become more and more dependent on digital business continuity planning strategies in the market.
Hardware supply was the major issue affecting the market. In the wake of the pandemic, work-from-home setups became an increasingly common practice, putting workplaces at risk from sophisticated cyber-attacks. With the popularity of BYOD devices, the WFH phenomenon, and the use of the internet in every corner of the globe, markets turned to digitization, pushing the need for cyber insurance policies against cyber-attacks.
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Regulations Mandating Cybersecurity to Boost Demand for Cybersecurity Insurance
Cybersecurity insurance is growing in popularity across small, medium, and large-scale industries, driven by technological advances. In addition, the increasing media coverage of business attacks increased the desire for businesses to secure cyber insurance policies in the market. Cyber threats are being regulated more rigorously, with increased stipulations on underwriting and risk management.
In addition, regulations for cyber insurance are expected to grow in the coming years, as a growing number of regulatory bodies will require a higher standard of information to gather and report on cybercrimes.
For a reporting system that is easily accessible and standard across the board, specific data collection requirements will be needed in the market. This will bring about the adoption of adaptive cyber policies in many organizations in the coming years.
In addition, government agencies throughout the world have taken numerous initiatives to ensure an increased level of data security and protection in various businesses. Since the advent of COVID-19, policyholders, advisors, insurers, and insurance brokers have seen an increased need for cyber insurance policies in the market.
Growing adoption of digitization, rapid developments in the technologies, cloud-based storage systems, Big Data, IoT, and artificial intelligence (AI) in business are frequently exposed to security breaches which have led various industry firms to adopt cybersecurity insurance in the market.
The growing use of social media platforms and easy access to personal information over the internet has prompted cybercriminals to commit crimes involving the sale of personal information like credit card numbers, identities, medical records, and more on the dark web. As a result, it has contributed to an increase in the demand for cybersecurity insurance in the market.
Cloud computing has eroded traditional IT boundaries, opened up new markets, promoted mobile devices, and helped to advance unified communications. As a result, modern cybersecurity is pushing firms to use more sophisticated insurance models to protect sensitive data on the cloud. All these factors are propelling the growth of the cybersecurity insurance market.
The dearth of Knowledge concerning Cybersecurity Insurance to Restrain Growth
Deloitte's report says it is too early to determine the risks carriers will face or to develop a set of integrated products and services that will attract clients to the market. The law does not require most companies to report data breaches outside of those that affect consumer data, which means many hacks remain unreported. Therefore, the insurance industry suffers from a rampant bias in reporting that hinders the creation of policies in the market.
As governments and organizations became more aware of security risks and the possibility of financial loss due to threats, they increased spending on cybersecurity. Security solutions are heavily invested by businesses worldwide, but cyber insurance is often neglected.
The alarming increase in cybercrime and cyberattacks indicates companies should get cyber insurance as a means of reducing risks and financial losses. A third-party service working with a wide variety of businesses might be hacked, resulting in service failures for users of the service. Such events could be chaotic for the insurance industry.
Insurance companies must continuously adapt to new kinds of attacks as underlying exposures shift. As a result, risk management is a constant challenge. Cyber-attacks are also posing new operational vulnerabilities in businesses caused by developments in IoT and autonomous vehicles that must be assessed and insured in the market.
The commoditization of coverage and its price sensitivity severely limits insurer growth and profits over the long term. This negatively affects the growth of the various vertical industries in the market.
Cybersecurity Insurance Market:
Attributes | Cybersecurity Insurance Market |
---|---|
CAGR (2022 to 2032) | 18.2% |
Market Value (2032) | US$ 61.2 Billion |
Growth Factor | Data breaches, stringent cybersecurity regulations, high recovery rates, and increased frequency and sophistication of cyber-attacks are all factors that are driving growth in the cyber insurance market. |
Opportunity | Cyberattacks are on the rise with the increasing usage of social media and IoT usage. Casualty insurers have realized that the rise in cyber exposures has also risen with the proliferation of digital devices and advances in new technologies to open up new markets. |
Industrial Cybersecurity Market:
Attributes | Industrial Cybersecurity Market |
---|---|
CAGR (2022 to 2032) | 7.7% |
Market Value (2032) | US$ 43.5 Billion |
Growth Factor | Demand for industrial cybersecurity solutions and services is rising as it helps firms in a variety of industries safeguard their data and other secret information from cyber-attacks. These industrial cybersecurity services assist businesses in monitoring and controlling a wide range of process outputs and inputs on the job site. |
Opportunity | Manufacturing and industrial facilities are increasingly adopting cloud-based ICS-as-a-service and industrial robots based on artificial intelligence platforms, which is driving the demand for industrial cybersecurity solutions. Industrial robots have cybersecurity solutions installed to protect them from cyber-attacks and keep them running properly. |
Cybersecurity Market:
Attributes | Cybersecurity Market |
---|---|
CAGR (2022 to 2032) | 10.5% |
Market Value (2032) | US$ 582 Billion |
Growth Factor | Key drivers of this market include the implementation of tight government regulations on data privacy, increasing cyber threats, and an increasing number of data centers. The market offers various benefits such as improved security of cyberspaces, increased cyber safety, and faster response time to national crises. |
Opportunity | Rising awareness among Internet users about the sensitivity of their private data and impending legal actions also prompt businesses to ensure information security by following the best cyber security practices. |
A cybersecurity policy will assist in covering legal expenses. Any legal costs incurred by the company and its employees as a result of a cyberattack will likely be covered by cyber insurance. With the industry's growing understanding of cyber risk, there will be more data available to reveal how preventative behavior - such as strengthening security controls, impacts the company's threat profile when a cyber event happens.
Based on a re-evaluation of positive behaviors and risk levels, this could result in monthly premiums or credit mechanisms for add-on services.
The increased frequency of cybersecurity incidents has led to the addition of more types of cyber policies. It could provide valuable coverage for small businesses storing sensitive information online or on computers.
Companies that invest heavily in information technology or send sensitive data, such as credit card numbers, regularly need cybersecurity insurance. Businesses that invest significant resources in their IT infrastructure - in terms of both hardware and software invest in cyber insurance.
Cyber experts will be hired as part of insurers' core risk management teams, even with the introduction of more advanced cyber risk modeling capabilities, since their knowledge will help them better determine their cyber exposures and use third-party cyber models effectively.
Cyber insurance will be flooded with alternative capital. In addition, increasing press coverage of cyberattacks on businesses encourages businesses to seek insurance protection against cyber risk.
Large Enterprises are likely to benefit from Cybersecurity Insurance
The business world keeps investing heavily in cybersecurity, but few have signed up for cyber insurance to make their firms safer after an attack. Although big companies often purchase insurance, the majority of these companies still run the risk of being exposed to the market. In large enterprises, cybersecurity insurance will grow at a CAGR of 17.8% during the forecast period.
By insuring themselves against cyber-related risks and liabilities, large businesses can minimize cyber liability. The costs of cyber insurance are reasonable when compared to the benefits. Therefore, the majority of large to medium-sized businesses opt for cybersecurity insurance to ensure their safety.
Cyber insurance can help minimize the financial risk of businesses with valuable assets. Larger companies have more valuable data that could be ransomed, so the costs of cyber incidents can be hard to predict. For smaller companies with limited revenue, the cost of cybersecurity premiums might be difficult to justify if they estimate that the costs of recovering from a data breach are lower than the cost of the premiums.
Businesses storing financial data or any personal information about their clients may want to consider first-party protection. A cybersecurity policy could be particularly valuable for companies with a large customer base. Companies might face regulatory fines following a data breach.
Policies can help cover these fines under insurance. State laws often require companies to notify customers if they experience a data breach, and first-party insurance plans may cover this expense, which is important for large companies in the market.
By end user, insurance providers are expected to remain prominent, projected to grow at a CAGR of 18% during the forecast period. To minimize aggregation risk in businesses, insurance providers adopt stricter underwriting policies. To better pool underwriting resources across the industry, insurance companies implement risk-informed models rather than definitive predictive models in the market.
Due to the relatively new nature of cybersecurity, it can be difficult to find an insurance provider that can educate companies about cybersecurity risks and ways to mitigate them.
Competitive advantage and a value-added service for their insured are one of the ways carriers can develop insights-driven tools that help businesses prepare for upcoming risks like data breaches. In banking and financial institutions, cybersecurity insurance is becoming an increasingly vital component.
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Due to its established and sustainable economies, North America is capable of investing heavily in Research and Development activities, which in turn contributes to the advancement of cyber insurance technology in the market. The presence of a majority of key players in the cyber insurance market is expected to drive the market in this region.
Globally, cybersecurity insurance is dominated by the USA. During the forecast period, the cybersecurity insurance market in this region is projected to grow by 18%. As a result, of the significantly increased number of connected devices across the region, cyberattacks have risen at an alarming pace in the country.
Consumers in the region are increasingly using public clouds and loading their personal information into various mobile apps to be able to conveniently shop, bank, communicate, and use other services over the devices.
The Identity Theft Resource Center published a report in 2022 that found 1,789 data breaches had occurred. With so many data breaches occurring across several industries, organizations are increasingly opting for cybersecurity insurance, resulting in market growth.
By October 2016, only 29% of USA companies had purchased cyber insurance, according to a survey conducted by the Council of Insurance Agents and Brokers (CIAB).
According to a report published in October 2021, the National Association of Insurance Commissioners (NAIC) calculated that the US cybersecurity insurance market, including both domestic insurers and foreign insurers, generated direct premiums of about $4.1 billion in 2020. The total is 29.1% higher than the prior year, and it is expected to increase significantly once the figures for 2021 are confirmed.
Security Breaches in Developing Countries will drive the Growth of Cyber Insurance in the Asia Pacific
The Asia Pacific is predicted to be the most lucrative region for cybersecurity insurance. In this region, cyber insurance is experiencing high growth opportunities as a result of effective government regulations and technological advancements in the market.
Technology is advancing at an accelerated rate in this region, including business intelligence tools, cloud computing, analytics, and rapid infrastructure development. China, Japan, South Korea, India, and Singapore are some of the emerging economies in this region.
The rapid growth in connectivity and the rapid pace of digital transformation in the region make it particularly vulnerable to cyberattacks due to the rapid development of these technologies in the market. The increase in regulations in China, together with fines and penalties for noncompliance, is expected to boost the market for cyber security insurance.
An increasing number of cyber-attacks in China have prompted organizations to adopt cyber liability insurance, which should propel the demand for cyber insurance during the forecast period. The presence of mobile manufacturers and IT companies in this region is driving the growth of the cybersecurity insurance market.
Cybersecurity insurance in China is projected to grow by 17.5% over the forecast period. Wireless communication devices, along with network connectivity, will fuel growth in this region over the forecast period.
The increase in Internet penetration, the large consumer base, rapid income growth, and technological advances, of which continue to support cybersecurity insurance growth in this region. Japan is expected to grow at a CAGR of 16.5% over the forecast period. South Korea is projected to grow at a CAGR of 16.1% during the forecast period.
Cybercrime, which has grown significantly in the UK as digitalized services and online shopping have proliferated, has prompted greater public and private spending on security in the market. Cyber solutions have also become more sophisticated and personalized as organizations' IT footprints have grown complex. Market growth for cyber security insurance is projected at 17.1% in the United Kingdom during the forecast period.
Technologies such as the Internet of Things, analytics, machine learning, and artificial intelligence can create new markets for innovative cyber products in this region. In addition to more and more services being provided online, both the federal and local governments are investing heavily in safeguarding citizen data in the market.
As part of the National Cyber Security Center, a part of GCHQ acts as a bridge between government and industry, providing a collective source of advice, information, and guidance on cyber security, including incident response. All these factors propel growth for cybersecurity insurance in the market.
By partnering with other manufacturers, manufacturing companies can increase revenue and market share. When new technologies are introduced, there is a growth of potential threats in the market, which will likely provide an opportunity for end-users to benefit from these insurance policies.
The ability to expand a company's production capabilities is one of the potential benefits of a strategic partnership.
The cybersecurity insurance market is expected to grow at a steady CAGR of 18.2% over the forecast period
The global market for cybersecurity insurance was valued at US$ 9.5 Billion 2021
Large Enterprises are projected to have the highest market with a CAGR of 17.8% during the forecast period
USA leads the global cybersecurity insurance market with a CAGR of 18% during the forecast period
The market for cybersecurity insurance is expected to grow by nearly US$ 61.2 Billion by 2032
The insurance providers segment is expected to reach a CAGR of 18% during the forecast period
China is expected to grow at 17.5% CAGR in cybersecurity insurance from 2022 to 2032.
1. Executive Summary | Cybersecurity Insurance Market 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. FMI Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Million) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background 4.1. Market, by Key Countries 4.2. Market Opportunity Assessment (US$ Million) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in Optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Growth in Automation, By Country 4.5.3. Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 6.1. Historical Market Analysis, 2015 to 2021 6.2. Current and Future Market Projections, 2022 to 2032 6.3. Y-o-Y Growth Trend Analysis 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 7.1. Historical Market Value (US$ Million) Analysis, 2015 to 2021 7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Component 8.1. Introduction / Key Findings 8.2. Historical Market Value (US$ Million) and Analysis By Component, 2015 to 2021 8.3. Current and Future Market Value (US$ Million) and Analysis and Forecast By Component, 2022 to 2032 8.3.1. Solution 8.3.1.1. Analytics platform 8.3.1.2. Disaster Recovery and business continuity 8.3.1.3. Cybersecurity Solution 8.3.2. Services 8.3.2.1. Consulting/ Advisory 8.3.2.2. Security Awareness Training 8.3.2.3. Others (infrastructure services, implementation, and support and maintenance) 8.4. Market Attractiveness Analysis By Component 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Insurance coverage 9.1. Introduction / Key Findings 9.2. Historical Market Value (US$ Million) and Analysis By Insurance Coverage, 2015 to 2021 9.3. Current and Future Market Value (US$ Million) and Analysis and Forecast By Insurance Coverage, 2022 to 2032 9.3.1. Data Breach 9.3.1.1. Data loss 9.3.1.2. Denial of service and downtime 9.3.1.3. Ransomware attacks 9.3.1.4. Others (third-party data, business disruption, and social engineering) 9.3.2. Cybersecurity Liability 9.3.2.1. Type 9.3.2.2. Source/ Target 9.4. Market Attractiveness Analysis By Insurance Coverage 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Insurance Type 10.1. Introduction / Key Findings 10.2. Historical Market Value (US$ Million) and Analysis By Insurance Type, 2015 to 2021 10.3. Current and Future Market Value (US$ Million) and Analysis and Forecast By Insurance Type, 2022 to 2032 10.3.1. Packaged 10.3.2. Stand-alone 10.4. Market Attractiveness Analysis By Insurance Type 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Organization Size 11.1. Introduction / Key Findings 11.2. Historical Market Value (US$ Million) and Analysis By Organization Size, 2015 to 2021 11.3. Current and Future Market Value (US$ Million) and Analysis and Forecast By Organization Size, 2022 to 2032 11.3.1. Large Enterprises 11.3.2. SMEs 11.4. Market Attractiveness Analysis By Organization Size 12. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End User 12.1. Introduction / Key Findings 12.2. Historical Market Value (US$ Million) and Analysis By End User, 2015 to 2021 12.3. Current and Future Market Value (US$ Million) and Analysis and Forecast By End User, 2022 to 2032 12.3.1. Technology Provider 12.3.1.1. Insurance companies 12.3.1.2. Third-party administrators, brokers, and consultancies 12.3.1.3. Government Agencies 12.3.2. Insurance Provider 12.3.2.1. Financial services 12.3.2.2. IT and ITES 12.3.2.3. Healthcare and life science 12.3.2.4. Retail and E-commerce 12.3.2.5. Telecom 12.3.2.6. Travel, tourism, and hospitality 12.3.2.7. Others (Education, Manufacturing, Energy and Utilities, and Government) 12.4. Market Attractiveness Analysis By End User 13. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 13.1. Introduction 13.2. Historical Market Value (US$ Million) and Analysis By Region, 2015 to 2021 13.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032 13.3.1. North America 13.3.2. Latin America 13.3.3. Europe 13.3.4. Asia Pacific 13.3.5. Middle East and Africa (MEA) 13.4. Market Attractiveness Analysis By Region 14. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ Million) and Trend Analysis By Market Taxonomy, 2015 to 2021 14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032 14.4.1. By Country 14.4.1.1. United States of America 14.4.1.2. Canada 14.4.1.3. Rest of North America 14.4.2. By Insurance Type 14.4.3. By Component 14.4.4. By Insurance coverage 14.4.5. By Organization Size 14.4.6. By End User 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Insurance Type 14.5.3. By Component 14.5.4. By Insurance coverage 14.5.5. By Organization Size 14.5.6. By End User 15. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ Million) and Trend Analysis By Market Taxonomy, 2015 to 2021 15.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032 15.4.1. By Country 15.4.1.1. Brazil 15.4.1.2. Mexico 15.4.1.3. Rest of Latin America 15.4.2. By Insurance Type 15.4.3. By Component 15.4.4. By Insurance coverage 15.4.5. By Organization Size 15.4.6. By End User 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Insurance Type 15.5.3. By Component 15.5.4. By Insurance coverage 15.5.5. By Organization Size 15.5.6. By End User 16. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Value (US$ Million) and Trend Analysis By Market Taxonomy, 2015 to 2021 16.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032 16.4.1. By Country 16.4.1.1. Germany 16.4.1.2. France 16.4.1.3. United Kingdom 16.4.1.4. Italy 16.4.1.5. Russia 16.4.1.6. Rest of Europe 16.4.2. By Insurance Type 16.4.3. By Component 16.4.4. By Insurance coverage 16.4.5. By Organization Size 16.4.6. By End User 16.5. Market Attractiveness Analysis 16.5.1. By Country 16.5.2. By Insurance Type 16.5.3. By Component 16.5.4. By Insurance coverage 16.5.5. By Organization Size 16.5.6. By End User 17. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Value (US$ Million) and Trend Analysis By Market Taxonomy, 2015 to 2021 17.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032 17.4.1. By Country 17.4.1.1. China 17.4.1.2. Japan 17.4.1.3. South Korea 17.4.1.4. Rest of Asia Pacific 17.4.2. By Insurance Type 17.4.3. By Component 17.4.4. By Insurance coverage 17.4.5. By Organization Size 17.4.6. By End User 17.5. Market Attractiveness Analysis 17.5.1. By Country 17.5.2. By Insurance Type 17.5.3. By Component 17.5.4. By Insurance coverage 17.5.5. By Organization Size 17.5.6. By End User 18. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Market Value (US$ Million) and Trend Analysis By Market Taxonomy, 2015 to 2021 18.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032 18.4.1. By Country 18.4.1.1. GCC Countries 18.4.1.2. South Africa 18.4.1.3. Turkey 18.4.1.4. Rest of Middle East and Africa 18.4.2. By Insurance Type 18.4.3. By Component 18.4.4. By Insurance coverage 18.4.5. By Organization Size 18.4.6. By End User 18.5. Market Attractiveness Analysis 18.5.1. By Country 18.5.2. By Insurance Type 18.5.3. By Component 18.5.4. By Insurance coverage 18.5.5. By Organization Size 18.5.6. By End User 19. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 19.1. Introduction 19.1.1. Market Value Proportion Analysis, By Key Countries 19.1.2. Global Vs. Country Growth Comparison 19.2. US Market Analysis 19.2.1. Value Proportion Analysis by Market Taxonomy 19.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.2.2.1. By Insurance Type 19.2.2.2. By Component 19.2.2.3. By Insurance coverage 19.2.2.4. By Organization Size 19.2.2.5. By End User 19.3. Canada Market Analysis 19.3.1. Value Proportion Analysis by Market Taxonomy 19.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.3.2.1. By Insurance Type 19.3.2.2. By Component 19.3.2.3. By Insurance coverage 19.3.2.4. By Organization Size 19.3.2.5. By End User 19.4. Mexico Market Analysis 19.4.1. Value Proportion Analysis by Market Taxonomy 19.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.4.2.1. By Insurance Type 19.4.2.2. By Component 19.4.2.3. By Insurance coverage 19.4.2.4. By Organization Size 19.4.2.5. By End User 19.5. Brazil Market Analysis 19.5.1. Value Proportion Analysis by Market Taxonomy 19.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.5.2.1. By Insurance Type 19.5.2.2. By Component 19.5.2.3. By Insurance coverage 19.5.2.4. By Organization Size 19.5.2.5. By End User 19.6. Germany Market Analysis 19.6.1. Value Proportion Analysis by Market Taxonomy 19.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.6.2.1. By Insurance Type 19.6.2.2. By Component 19.6.2.3. By Insurance coverage 19.6.2.4. By Organization Size 19.6.2.5. By End User 19.7. France Market Analysis 19.7.1. Value Proportion Analysis by Market Taxonomy 19.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.7.2.1. By Insurance Type 19.7.2.2. By Component 19.7.2.3. By Insurance coverage 19.7.2.4. By Organization Size 19.7.2.5. By End User 19.8. Italy Market Analysis 19.8.1. Value Proportion Analysis by Market Taxonomy 19.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.8.2.1. By Insurance Type 19.8.2.2. By Component 19.8.2.3. By Insurance coverage 19.8.2.4. By Organization Size 19.8.2.5. By End User 19.9. Russia Market Analysis 19.9.1. Value Proportion Analysis by Market Taxonomy 19.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.9.2.1. By Insurance Type 19.9.2.2. By Component 19.9.2.3. By Insurance coverage 19.9.2.4. By Organization Size 19.9.2.5. By End User 19.10. UK Market Analysis 19.10.1. Value Proportion Analysis by Market Taxonomy 19.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.10.2.1. By Insurance Type 19.10.2.2. By Component 19.10.2.3. By Insurance coverage 19.10.2.4. By Organization Size 19.10.2.5. By End User 19.11. China Market Analysis 19.11.1. Value Proportion Analysis by Market Taxonomy 19.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.11.2.1. By Insurance Type 19.11.2.2. By Component 19.11.2.3. By Insurance coverage 19.11.2.4. By Organization Size 19.11.2.5. By End User 19.12. Japan Market Analysis 19.12.1. Value Proportion Analysis by Market Taxonomy 19.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.12.2.1. By Insurance Type 19.12.2.2. By Component 19.12.2.3. By Insurance coverage 19.12.2.4. By Organization Size 19.12.2.5. By End User 19.13. South Korea Market Analysis 19.13.1. Value Proportion Analysis by Market Taxonomy 19.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.13.2.1. By Insurance Type 19.13.2.2. By Component 19.13.2.3. By Insurance coverage 19.13.2.4. By Organization Size 19.13.2.5. By End User 19.14. GCC Countries Market Analysis 19.14.1. Value Proportion Analysis by Market Taxonomy 19.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.14.2.1. By Insurance Type 19.14.2.2. By Component 19.14.2.3. By Insurance coverage 19.14.2.4. By Organization Size 19.14.2.5. By End User 19.15. South Africa Market Analysis 19.15.1. Value Proportion Analysis by Market Taxonomy 19.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.15.2.1. By Insurance Type 19.15.2.2. By Component 19.15.2.3. By Insurance coverage 19.15.2.4. By Organization Size 19.15.2.5. By End User 19.16. Turkey Market Analysis 19.16.1. Value Proportion Analysis by Market Taxonomy 19.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032 19.16.2.1. By Insurance Type 19.16.2.2. By Component 19.16.2.3. By Insurance coverage 19.16.2.4. By Organization Size 19.16.2.5. By End User 19.16.3. Competition Landscape and Player Concentration in the Country 20. Market Structure Analysis 20.1. Market Analysis by Tier of Companies 20.2. Market Concentration 20.3. Market Share Analysis of Top Players 20.4. Market Presence Analysis 20.4.1. By Regional Footprint of Players 20.4.2. Product Footprint by Players 21. Competition Analysis 21.1. Competition Dashboard 21.2. Competition Benchmarking 21.3. Competition Deep Dive 21.3.1. BitSight 21.3.1.1. Overview 21.3.1.2. Product Portfolio 21.3.1.3. Sales Footprint 21.3.1.4. Strategy Overview 21.3.2. Prevalent 21.3.2.1. Overview 21.3.2.2. Product Portfolio 21.3.2.3. Sales Footprint 21.3.2.4. Strategy Overview 21.3.3. RedSeal 21.3.3.1. Overview 21.3.3.2. Product Portfolio 21.3.3.3. Sales Footprint 21.3.3.4. Strategy Overview 21.3.4. SecurityScorecard 21.3.4.1. Overview 21.3.4.2. Product Portfolio 21.3.4.3. Sales Footprint 21.3.4.4. Strategy Overview 21.3.5. Cyber IndeMillionity Solutions 21.3.5.1. Overview 21.3.5.2. Product Portfolio 21.3.5.3. Sales Footprint 21.3.5.4. Strategy Overview 21.3.6. Allianz 21.3.6.1. Overview 21.3.6.2. Product Portfolio 21.3.6.3. Sales Footprint 21.3.6.4. Strategy Overview 21.3.7. AIG 21.3.7.1. Overview 21.3.7.2. Product Portfolio 21.3.7.3. Sales Footprint 21.3.7.4. Strategy Overview 21.3.8. Aon 21.3.8.1. Overview 21.3.8.2. Product Portfolio 21.3.8.3. Sales Footprint 21.3.8.4. Strategy Overview 21.3.9. Arthur J. Gallagher & Co 21.3.9.1. Overview 21.3.9.2. Product Portfolio 21.3.9.3. Sales Footprint 21.3.9.4. Strategy Overview 21.3.10. Travelers Insurance 21.3.10.1. Overview 21.3.10.2. Product Portfolio 21.3.10.3. Sales Footprint 21.3.10.4. Strategy Overview 21.3.11. AXA XL 21.3.11.1. Overview 21.3.11.2. Product Portfolio 21.3.11.3. Sales Footprint 21.3.11.4. Strategy Overview 21.3.12. AXIS Capital 21.3.12.1. Overview 21.3.12.2. Product Portfolio 21.3.12.3. Sales Footprint 21.3.12.4. Strategy Overview 22. Assumptions and Acronyms Used 23. Research Methodology
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