Market Overview:
The global cyber insurance market size reached US$ 8.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.9 Billion by 2027, exhibiting a growth rate (CAGR) of 25.87% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cyber insurance protects businesses against digital threats, such as data breaches, malicious hacks, distributed denial-of-service (DDoS), malware, and ransomware. It also offers financial coverage for sensitive customer information, including health records and social security, credit card, account, and driver's license numbers. It notifies customers about cybersecurity incidents, restores their identities, recovers compromised data, and repairs damaged computer systems. Nowadays, several insurers worldwide are offering personalized plans depending on business requirements. These plans cover legal fees and expenses for physical damage and income loss.
The rising use of electronic devices for storing data is making organizations more vulnerable to cyber-attacks and data breaches. This represents one of the prime factors influencing the demand for cyber insurance to recover the costs, resume core operations, and stabilize the company. As it also helps businesses safeguard themselves against infringement of networks and sensitive data, cyber insurance is finding application in small and medium-sized enterprises (SMEs). Moreover, various insurers are offering credit monitoring services and identity recovery protection to restore consumer confidence and mitigate specific risks. Apart from this, governing agencies of numerous countries are implementing stringent regulations for enhancing user privacy rights and security. This is anticipated to influence the demand for cyber insurance solutions worldwide. For instance, the California Consumer Privacy Act (CCPA) of 2018 offered individuals in California more control over their personal information, which businesses collect from them.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cyber insurance market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, insurance type, organization size and end use industry.
Breakup by Component:
Breakup by Insurance Type:
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by End Use Industry:
- BFSI
- Healthcare
- IT and Telecom
- Retail
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allianz Group, American International Group Inc., AON Plc, AXA XL, Berkshire Hathaway Inc., Chubb Limited (ACE Limited), Lockton Companies Inc., Munich ReGroup or Munich Reinsurance Company, Lloyd's of London and Zurich Insurance Company Limited.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Component, Insurance Type, Organization Size, End Use Industry, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Allianz Group, American International Group Inc., AON Plc, AXA XL, Berkshire Hathaway Inc., Chubb Limited (ACE Limited), Lockton Companies Inc., Munich ReGroup or Munich Reinsurance Company, Lloyd's of London and Zurich Insurance Company Limited |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global cyber insurance market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global cyber insurance market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the insurance type?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global cyber insurance market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cyber Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Solution
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Insurance Type
7.1 Packaged
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Stand-alone
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Organization Size
8.1 Small and Medium Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Large Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End Use Industry
9.1 BFSI
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Healthcare
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 IT and Telecom
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Retail
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Allianz Group
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 American International Group Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 AON Plc
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 AXA XL
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Berkshire Hathaway Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Chubb Limited (ACE Limited)
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Lockton Companies Inc.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Munich ReGroup or Munich Reinsurance Company
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.9 Lloyd's of London
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Zurich Insurance Company Limited.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
List of Figures
Figure 1: Global: Cyber Insurance Market: Major Drivers and Challenges
Figure 2: Global: Cyber Insurance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Cyber Insurance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Cyber Insurance Market: Breakup by Component (in %), 2021
Figure 5: Global: Cyber Insurance Market: Breakup by Insurance Type (in %), 2021
Figure 6: Global: Cyber Insurance Market: Breakup by Organization Size (in %), 2021
Figure 7: Global: Cyber Insurance Market: Breakup by End Use Industry (in %), 2021
Figure 8: Global: Cyber Insurance Market: Breakup by Region (in %), 2021
Figure 9: Global: Cyber Insurance (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Cyber Insurance (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Cyber Insurance (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Cyber Insurance (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Cyber Insurance (Packaged) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Cyber Insurance (Packaged) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Cyber Insurance (Stand-alone) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Cyber Insurance (Stand-alone) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Cyber Insurance (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Cyber Insurance (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Cyber Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Cyber Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Cyber Insurance (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Cyber Insurance (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Cyber Insurance (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Cyber Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Cyber Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Cyber Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Cyber Insurance (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Cyber Insurance (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Cyber Insurance (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Cyber Insurance (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: North America: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: North America: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: United States: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Asia-Pacific: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Asia-Pacific: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: China: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Germany: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Latin America: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Latin America: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Brazil: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Middle East and Africa: Cyber Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Middle East and Africa: Cyber Insurance Market: Breakup by Country (in %), 2021
Figure 79: Middle East and Africa: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Global: Cyber Insurance Industry: SWOT Analysis
Figure 81: Global: Cyber Insurance Industry: Value Chain Analysis
Figure 82: Global: Cyber Insurance Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Cyber Insurance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Cyber Insurance Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Cyber Insurance Market Forecast: Breakup by Insurance Type (in Million US$), 2022-2027
Table 4: Global: Cyber Insurance Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 5: Global: Cyber Insurance Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 6: Global: Cyber Insurance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Cyber Insurance Market: Competitive Structure
Table 8: Global: Cyber Insurance Market: Key Players