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Cybersecurity Insurance Trends and Forecast
The future of the global cybersecurity insurance market looks promising with opportunities in the healthcare, retail, BFSI, it & telecom, and manufacturing markets. The global cybersecurity insurance market is expected to reach an estimated $21.2 billion by 2030 with a CAGR of 11.2% from 2024 to 2030. The major drivers for this market are rising occurrence of cyber threats, growing concern towards data security, and more stringent regulatory mandates.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Cybersecurity Insurance by Segment
The study includes a forecast for the global cybersecurity insurance by insurance type, coverage type, enterprise size, end use, and region.
Cybersecurity Insurance Market by Insurance Type [Shipment Analysis by Value from 2018 to 2030]:
• Standalone
• Tailored
Cybersecurity Insurance Market by Coverage Type [Shipment Analysis by Value from 2018 to 2030]:
• First-Party
• Liability Coverage
Cybersecurity Insurance Market by Enterprise Size [Shipment Analysis by Value from 2018 to 2030]:
• SMEs
• Large Enterprise
Cybersecurity Insurance Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Healthcare
• Retail
• BFSI
• IT & Telecom
• Manufacturing
• Others
Cybersecurity Insurance Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Cybersecurity Insurance Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cybersecurity insurance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cybersecurity insurance companies profiled in this report include-
• BitSight
• Prevalent
• RedSeal
• SecurityScorecard
• Cyber Indemnity Solutions
Cybersecurity Insurance Market Insights
Lucintel forecasts that standalone will remain the larger segment over the forecast period because it safeguards an organization from legal actions filed due to security breaches.
Within this market, BFSI will remain the largest segment due to inclination of consumers towards digitalization, mobile applications, and internet banking is expected to elevate cybersecurity risks.
North America will remain the largest region over the forecast period due to elevated cyberattack rates and a heightened risk of data loss in the region.
Features of the Global Cybersecurity Insurance Market
Market Size Estimates: Cybersecurity insurance market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Cybersecurity insurance market size by various segments, such as by insurance type, coverage type, enterprise size, end use, and region in terms of value ($B).
Regional Analysis: Cybersecurity insurance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different insurance types, coverage types, enterprise sizes, end uses, and regions for the cybersecurity insurance market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cybersecurity insurance market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the cybersecurity insurance market size?
Answer: The global cybersecurity insurance market is expected to reach an estimated $21.2 billion by 2030.
Q2. What is the growth forecast for cybersecurity insurance market?
Answer: The global cybersecurity insurance market is expected to grow with a CAGR of 11.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the cybersecurity insurance market?
Answer: The major drivers for this market are rising occurrence of cyber threats, growing concern towards data security, and more stringent regulatory mandates.
Q4. What are the major segments for cybersecurity insurance market?
Answer: The future of the cybersecurity insurance market looks promising with opportunities in the healthcare, retail, BFSI, IT & telecom, and manufacturing markets.
Q5. Who are the key cybersecurity insurance market companies?
Answer: Some of the key cybersecurity insurance companies are as follows:
• BitSight
• Prevalent
• RedSeal
• SecurityScorecard
• Cyber Indemnity Solutions
Q6. Which cybersecurity insurance market segment will be the largest in future?
Answer: Lucintel forecasts that standalone will remain the larger segment over the forecast period because it safeguards an organization from legal actions filed due to security breaches.
Q7. In cybersecurity insurance market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to elevated cyberattack rates and a heightened risk of data loss in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the cybersecurity insurance market by insurance type (standalone and tailored), coverage type (first-party and liability coverage), enterprise size (smes and large enterprise), end use (healthcare, retail, BFSI, IT & telecom, manufacturing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Cybersecurity Insurance Market, Cybersecurity Insurance Market Size, Cybersecurity Insurance Market Growth, Cybersecurity Insurance Market Analysis, Cybersecurity Insurance Market Report, Cybersecurity Insurance Market Share, Cybersecurity Insurance Market Trends, Cybersecurity Insurance Market Forecast, Cybersecurity Insurance Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Cybersecurity Insurance Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Cybersecurity Insurance Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Cybersecurity Insurance Market by Insurance Type
3.3.1: Standalone
3.3.2: Tailored
3.4: Global Cybersecurity Insurance Market by Coverage Type
3.4.1: First-party
3.4.2: Liability Coverage
3.5: Global Cybersecurity Insurance Market by Enterprise Size
3.5.1: SMEs
3.5.2: Large Enterprise
3.6: Global Cybersecurity Insurance Market by End Use
3.6.1: Healthcare
3.6.2: Retail
3.6.3: BFSI
3.6.4: IT & Telecom
3.6.5: Manufacturing
3.6.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Cybersecurity Insurance Market by Region
4.2: North American Cybersecurity Insurance Market
4.2.2: North American Cybersecurity Insurance Market by End Use: Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, and Others
4.3: European Cybersecurity Insurance Market
4.3.1: European Cybersecurity Insurance Market by Insurance Type: Standalone and Tailored
4.3.2: European Cybersecurity Insurance Market by End Use: Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, and Others
4.4: APAC Cybersecurity Insurance Market
4.4.1: APAC Cybersecurity Insurance Market by Insurance Type: Standalone and Tailored
4.4.2: APAC Cybersecurity Insurance Market by End Use: Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, and Others
4.5: ROW Cybersecurity Insurance Market
4.5.1: ROW Cybersecurity Insurance Market by Insurance Type: Standalone and Tailored
4.5.2: ROW Cybersecurity Insurance Market by End Use: Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Cybersecurity Insurance Market by Insurance Type
6.1.2: Growth Opportunities for the Global Cybersecurity Insurance Market by Coverage Type
6.1.3: Growth Opportunities for the Global Cybersecurity Insurance Market by Enterprise Size
6.1.4: Growth Opportunities for the Global Cybersecurity Insurance Market by End Use
6.1.5: Growth Opportunities for the Global Cybersecurity Insurance Market by Region
6.2: Emerging Trends in the Global Cybersecurity Insurance Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Cybersecurity Insurance Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Cybersecurity Insurance Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: BitSight
7.2: Prevalent
7.3: RedSeal
7.4: SecurityScorecard
7.5: Cyber Indemnity Solutions
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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