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Global cyber insurance market would grow at a CAGR of 28% from 2016 to 2022 scrutinized in new research

Global cyber insurance market would grow at a CAGR of 28% from 2016 to 2022 scrutinized in new research

Big Market Research has added a report, titled, “Cyber Insurance Market - Global Opportunity Analysis and Industry Forecasts, 2014–2022”. As per the report, the global cyber insurance market is expected to generate a revenue of $14 billion by 2022, registering a CAGR of 28% from 2016 to 2022.

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The research outlines top impacting factors, winnings strategies, and investment pockets to help market players, VPs, stakeholders, new entrants to gain understanding of changing market conditions and devise strategies for the future. Moreover, detailed segmentation, insights on drivers & opportunities, detailed analysis of key market players are provided in the study.

The research explores past progress, sheds a light on current market status, and outlines market size estimations for the future.   

The report offers a brief introduction of the global cyber insurance market by highlighting key benefits, key market segments, and research methodology.

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The study highlights primary research and secondary research methodologies adopted to collect data, information, and statistics.

Moreover, analyst tools and models used in the research are also mentioned. An executive summary of the market is offered to help CEOs, management executives, and stakeholders to gain a brief understanding of the industry and determine steps to be taken toward growth in the future.

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The report offers an overview of the global cyber insurance market based on definition, key findings, and value chain analysis. Market definition and scope is outlined.

Moreover, value chain analysis to analyzed and examine internal firm activities of leading market players. Key findings highlight top winning strategies and impacting factors to help market players devise strategies for the future, however, top investment pockets are outlined to help investors determine companies suitable for investment and gain maximum returns.

Determining rivalry and intensity of competition is essential to plan growth strategies for the future. Porter’s Five Forces model is valuable source of information for market players and new entrants.

Bargaining power of buyers and suppliers, threat of new entrants, threat of substitutes, and competitive rivalry are parameters studied in the report. Moreover, market share analysis for 2015 is provided with the help of tabular format.

Changing market dynamics of the global cyber insurance market are provided based on drivers, restraints, and opportunities. Increase in awareness about cyber risks across various sectors, rise in number of cyber-attacks, and mandatory legislation regarding cyber security are factors that drive the market.

However, lack of standardized policies, complex & changing nature of cyber risks, and budget constraints in organizations are factors that restrain growth in the industry. On the other hand, innovation of cyber insurance policies and low market penetration in Asia-Pacific region create new avenue in the global industry.

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The report offers detailed segmentation of the global cyber insurance market based on company size, industry vertical, and geography. Company size segment is classified very small companies ($2.5 million to $99 million), small-sized companies ($100 million to $299million), mid-sized companies ($300million to $1 billion), and large companies ($1.1 billion and above).

Large companies contributed to around 70% of the overall cyber insurance market in 2015. Based on industry vertical, the market is segmented into healthcare, retail, financial services (BFSI), information technology and services, and others.

BFSI and information technology were sectors which adopted cyber insurance early due to need to protect their data. According to the research, healthcare sector generated approximately one-third of the revenue for market players.

Geographically, the report segments the market into North America (U.S. and rest of North America), Asia-Pacific (Australia, Singapore, Japan, South Korea, and rest of Asia-Pacific), Europe (U.K., Germany, and rest of Europe), and LAMEA (Latin America, Middle East, and Africa).

North American region dominated the global market in 2015 and contributed to approximately 87% of the revenue. Moreover, Asia-Pacific market is expected to grow at a significant rate during the forecast period.

The report also offers market overview and market size projections for the historic period for each segment with the help of tabular and graphical representation.

The report provides a detailed analysis of key market players operating in the global cyber insurance market. Key players are analyzed in the research based on company overview, business segments, key strategic moves & development, and business performance.

These insights are helpful to determine steps to be taken to gain competitive edge. In addition, it presents opportunities for agreements, collaborations, partnerships, and others to help them strengthen their position in the industry.

Key companies analyzed in the report are American International Group, Inc. (U.S.), Zurich Insurance Co. Ltd (Switzerland), The Chubb Corporation (U.S.), Berkshire Hathaway (U.S.), XL Group Ltd. (Republic of Ireland), Allianz Global Corporate & Specialty (Germany), Lloyds (U.K.), Munich Re Group (Germany), Lockton Companies, Inc. (U.S.), and AON PLC (U.K.).

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