New study: Cybersecurity Insurance Market worth $29.2 billion by 2027

1. Downloaded from: justpaste.it/9d4se New study: Cybersecurity Insurance Market worth $29.2 billion by 2027 New study: Cybersecurity Insurance Market worth $29.2 billion by 2027 To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall cybersecurity insurance market According to a research report “Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Organization Size, End User (Technology & Insurance) and Region — Global Forecast to 2027” published by MarketsandMarkets, the global cybersecurity insurance market size in the post-COVID-19 scenario is projected to grow from USD 11.9 billion in 2022 to USD 29.2 billion by 2027, at a CAGR of 19.6% during the forecast period. Browse 411 market data Tables and 64 Figures spread through 331 Pages Download PDF Brochure @ www.marketsandmarkets.com/pdfdown…id=Whatech By organization size, the small and medium enterprise segment to have the highest growth rate during the forecast period SMEs are majorly adopting cybersecurity insurance solutions and services to secure from cyberattacks and due to the growing instances of fraud. The insurance enterprise, Beazley, has revealed that 60% of ransomware attacks were targeted toward SMEs. Emsisoft, an anti-virus software firm, stated that businesses paid a ransom of USD 1.3 billion to cyberattackers in 2019. SMEs are more vulnerable to cyberattacks as it is easier to gain access to their servers than larger networks. SMEs are expected to earmark more budgets for cybersecurity insurance in the coming years due to the soaring cases of cyber-induced attacks and the increasing mandatory legislation during the pandemic. Speak to Analyst @ www.marketsandmarkets.com/speakto…id=Whatech Asia Pacific is expected to have the highest growth rate during the forecast period Asia Pacific countries are highly concerned about the increase in security spending due to the ever-growing threat landscape. The region comprises emerging economies, such as China, Japan, ANZ, and Singapore. With effective government regulations and technological advancements, cybersecurity insurance is witnessing high growth opportunities in this region. Various developments are taking place in Asia Pacific, concerning the adoption of technologies, such as BI tools, cloud, analytics, and rapid infrastructure development.

2. The increase in regulatory developments, with surge in fines and penalties from non- compliance, is expected to uptake the demand for the cybersecurity insurance market in Asia Pacific in the future. Zurich Insurance stated that the cybersecurity insurance market is set to grow significantly in Asia Pacific. AIG, Allianz, Chubb, and Zurich are among the prominent players for cybersecurity insurance in Asia Pacific. Market Players The technology vendors covered in the cybersecurity insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). The insurance vendors covered in the cybersecurity insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US), and Cronus Cyber Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cybersecurity insurance market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and

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