Global Cyber Insurance Market Growth (Status and Outlook) 2023-2029

Global Cyber Insurance Market Growth (Status and Outlook) 2023-2029

Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products. Coverage provided by cyber-insurance policies may include first-party coverage against losses such as data destruction, extortion, theft, hacking, and denial of service attacks; liability coverage indemnifying companies for losses to others caused, for example, by errors and omissions, failure to safeguard data, or defamation; and other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds.
LPI (LP Information)' newest research report, the “Cyber Insurance Industry Forecast” looks at past sales and reviews total world Cyber Insurance sales in 2022, providing a comprehensive analysis by region and market sector of projected Cyber Insurance sales for 2023 through 2029. With Cyber Insurance sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Cyber Insurance industry.
This Insight Report provides a comprehensive analysis of the global Cyber Insurance landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Cyber Insurance portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Cyber Insurance market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Cyber Insurance and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Cyber Insurance.
The global Cyber Insurance market size is projected to grow from US$ 9121.2 million in 2022 to US$ 74780 million in 2029; it is expected to grow at a CAGR of 35.1% from 2023 to 2029.
Global Cyber Insurance key players include AIG, Chubb, XL Group, Beazley, Allianz, etc. Global top five manufacturers hold a share about 35%. North America is the largest market, with a share about 90%, followed by Europe and Japan, total with a share about 8 percent. In terms of product, Stand-alone Cyber Insurance is the largest segment, with a share about 70%. And in terms of application, the largest application is Financial Institutions, followed by Retail and Wholesale, Healthcare, Business Services, Manufacturing, and Technology, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Cyber Insurance market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Stand-alone Cyber Insurance
Packaged Cyber Insurance
Segmentation by application
Financial Institutions
Retail and Wholesale
Healthcare
Business Services
Manufacturing
Technology
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
AIG
Chubb
XL
Beazley
Allianz
Zurich Insurance
Munich Re
Berkshire Hathaway
AON
AXIS Insurance
Lockton
CNA
Travelers
BCS Insurance
Liberty Mutual

Please note: The report will take approximately 2 business days to prepare and deliver.