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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Cyber Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global cyber insurance market exhibited strong growth during 2015-2020. 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. Looking forward, IMARC Group expects the global cyber insurance market to grow at a CAGR of around 23% during the forecast period (2021-2026).

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 for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, insurance type, organization size and end use industry.

Breakup by Component:

  • Solution
  • Services
     

Breakup by Insurance Type:

  • Packaged
  • Stand-alone
     

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
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • 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 SE, American International Group Inc., AON Plc, AXA XL, Berkshire Hathaway Inc., Chubb Limited (ACE Limited), Lockton Companie, Munich Re, Society of Lloyd's and Zurich Insurance Group.

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 SE
           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
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    Munich Re
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
        15.3.9    Society of Lloyd's
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    Zurich Insurance Group
           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$), 2015-2020
Figure 3: Global: Cyber Insurance Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Cyber Insurance Market: Breakup by Component (in %), 2020
Figure 5: Global: Cyber Insurance Market: Breakup by Insurance Type (in %), 2020
Figure 6: Global: Cyber Insurance Market: Breakup by Organization Size (in %), 2020
Figure 7: Global: Cyber Insurance Market: Breakup by End Use Industry (in %), 2020
Figure 8: Global: Cyber Insurance Market: Breakup by Region (in %), 2020
Figure 9: Global: Cyber Insurance (Solution) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Cyber Insurance (Solution) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Cyber Insurance (Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Cyber Insurance (Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Cyber Insurance (Packaged) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Cyber Insurance (Packaged) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Cyber Insurance (Stand-alone) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Cyber Insurance (Stand-alone) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Cyber Insurance (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Cyber Insurance (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Cyber Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Cyber Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Cyber Insurance (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Cyber Insurance (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Cyber Insurance (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Cyber Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Cyber Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Cyber Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Cyber Insurance (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Cyber Insurance (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Cyber Insurance (Other End Use Industries) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Cyber Insurance (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: North America: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: North America: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: United States: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: United States: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Canada: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Canada: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Asia-Pacific: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Asia-Pacific: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: China: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: China: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Japan: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Japan: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: India: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: India: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: South Korea: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: South Korea: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Australia: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Australia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Indonesia: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Indonesia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Others: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Europe: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Europe: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Germany: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Germany: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: France: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: France: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: United Kingdom: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: United Kingdom: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Italy: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Italy: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Spain: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Spain: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Russia: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Russia: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Latin America: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Latin America: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Brazil: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Brazil: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Mexico: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Mexico: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Others: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Others: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Middle East and Africa: Cyber Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Middle East and Africa: Cyber Insurance Market: Breakup by Country (in %), 2020
Figure 79: Middle East and Africa: Cyber Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
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, 2020 and 2026
Table 2: Global: Cyber Insurance Market Forecast: Breakup by Component (in Million US$), 2021-2026
Table 3: Global: Cyber Insurance Market Forecast: Breakup by Insurance Type (in Million US$), 2021-2026
Table 4: Global: Cyber Insurance Market Forecast: Breakup by Organization Size (in Million US$), 2021-2026
Table 5: Global: Cyber Insurance Market Forecast: Breakup by End Use Industry (in Million US$), 2021-2026
Table 6: Global: Cyber Insurance Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Cyber Insurance Market: Competitive Structure
Table 8: Global: Cyber Insurance Market: Key Players

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