The Cybersecurity Insurance Market size is estimated at USD 16.09 billion in 2024, and is expected to reach USD 39.58 billion by 2029, growing at a CAGR of 19.72% during the forecast period (2024-2029).
Increasing digitalization and rapid development in the cloud, Big Data, IoT, and artificial intelligence (AI) in business and society and the growing connectivity of everything have increased the workload of already strained IT teams.
The cybersecurity insurance market is moderately consolidated, with significant players offering superior technology and fostering growth through their existing distribution channels. These technology leaders are investing in innovations, mergers, acquisitions, and partnership activities to maintain a competitive edge in the market.
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