Global Cyber Security Insurance Market Segmented by Size of Organization, End-user Industry & Region - Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com
May. 16, 2018
DUBLIN--(BUSINESS WIRE)--May 16, 2018--The "Global Cyber Security Insurance Market - Segmented by Size of Organization, by End-user Industry (Healthcare, Retail, BFSI) & Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The cyber security insurance market is expected to reach USD 17.55 billion in 2023 from USD 4.52 billion in 2017, registering a CAGR of 25.4%, during the forecast period, 2018-2023.
In 2017, ransom-ware attacks such as NotPetya and WannaCry shook the entire world. The cyber data breaches are immensely impacting the consumers' confidence, for instance, most of the cloud-based companies saw close to 46% dip in profit after a major data breach incident took place. Moreover, the global average cost of a data breach in 2017 was USD 3.6 million.
Asia-Pacific is a very lucrative market for cyber security insurance companies. The companies in this region are prone to cyber-attacks owing to poor protection against cyber-attacks. Though cyber security insurance market is at nascent stage in this region but it is growing rapidly. In India, the demand for cyber security insurance rose by more than 50% in 2017 as compared to that with 2016. Around 250 companies, including banks, bought cyber security insurance in 2017. As of now, the cyber security insurance premium is INR 200 crore, which is expected to increase to INR 400 crore in years to come.
Companies MentionedXL Group Ltd American International Group Inc. Zurich Insurance Co. Ltd AON PLC Allianz Global Corporate & Specialty Munich Re Group Lockton Companies Inc.
Key Topics Covered:
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Cyber Security Insurance Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future Outlook of Cyber Security Insurance Market
For more information about this report visit https://www.researchandmarkets.com/research/xfpfms/global_cyber?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180516005729/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:IT Security,Retail,Health Insurance
INDUSTRY KEYWORD: TECHNOLOGY SECURITY PROFESSIONAL SERVICES INSURANCE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 05/16/2018 08:40 AM/DISC: 05/16/2018 08:40 AM