Cyber Insurance Market Anticipated to Cross $19.2 Billion by 2025 | CAGR: 25.6%

1. Cyber Insurance Market Worth $19.2 Billion By 2025 | CAGR: 25.6% | Grand View Research, Inc “Growing digitalization within businesses and economies has created several challenges related to management of digital security and privacy. Management of internet and online risks has become one of the topmost priorities for businesses owing to rapidly increasing incidences of cybercrimes, digital frauds, threats, and data breaches.” The global cyber insurance market size is expected to reach USD 19.2 billion by 2025, expanding at a CAGR of 25.6% over the forecast period, according to a new report by Grand View Research, Inc. Cyber insurance is anticipated to aid businesses in minimizing losses incurred due to potential threats of cybercrimes such as ransomware, malware, distributed denial-of-service attacks, or other threats, which can severely compromise a network. Cyber insurance covers the liability of a business for breach of data, comprising sensitive customer information such as credit card details, social security numbers, drivers’ license numbers, account details, and health records. Technological advancements have proliferated the use of Internet of Things (IoT), artificial intelligence (AI), robotics, and virtual reality (VR) and augmented reality (AR), thereby positively influencing the use of these technologies at workplaces and homes. However, these developments have created new threat vectors. The insurance industry enables an organization or consumers to minimize cyber risks associated with these emerging threats. Follow Us:

2. Demand for cyber insurance primarily originated from IT, banking, media, and telecom firms, which are exposed to severe cyberattacks. These firms demand robust cybersecurity structure against malware attacks and loss of confidential information of clients. However, cyberattacks and threats are inevitable as hackers have developed sophisticated ways of targeting different businesses. The types of cyberattacks against businesses are continually evolving and cyber insurance acts as a convenient solution for organizations to receive compensation for financial losses incurred. Growing awareness of cyberattacks has enabled organizations to understand, address, and diversify their risk strategies. Rising demand for cyber insurance protection coverage in areas beyond retail, healthcare, and financial institutions, such as professional services, is further driving the market. Cyber risk insurance is anticipated to be an alternative way to mitigate damage caused by breach of data. Insurers evaluate the strength of a company’s cybersecurity stance before issuing any policy. However, if an organization has not invested in appropriate cybersecurity solutions, then it may not qualify for insurance. Stringent legislation concerning cybersecurity in several states in the U.S. has led to greater penetration of cyber liability policies. The U.S. cyber insurance market has witnessed exponential growth in the recent past. Presence of key players in the country is further strengthening the domestic market. Follow Us:

3. Rapid industrialization in developing economies such as China, India, and other South Asian countries is anticipated to drive the Asia Pacific market. This regional market is expected to exhibit the highest CAGR over the forecast period. Rising number of small and medium businesses in the region is anticipated to create a substantial demand for cyber insurance businesses. To request a sample copy or view summary of this report, click the link below: www.grandviewresearch.com/industry-analysis/cyber-insurance-market Further key findings from the report suggest: •The global cyber insurance market was valued at USD 4.3 billion in 2018 and is expected to exhibit a CAGR of 25.6% from 2019 to 2025 •The large enterprise segment accounted for dominant share of over 85.0% in 2018. The SMB segment, on the other hand, is anticipated to register the highest CAGR of 15.3% over the forecast period •The BFSI application segment accounted for a revenue share of over 24.0% in 2018. The healthcare segment is anticipated to expand at the fastest pace over the forecast period •Key players operating in the market include AON Plc; American International Group, Inc.; Allianz Group; Berkshire Hathaway; and Lockton Companies, Inc. •The North America market accounted for the largest revenue share of over 76.0% in 2018 View more reports of this category by Grand View Research at www.grandviewresearch.com/industry/network-security-software-and-services Grand View Research has segmented the global cyber insurance market on the basis of organization, application, and region: Cyber Insurance Organization Outlook (Revenue, USD Billion, 2015 - 2025) •SMB •Large Enterprise Follow Us:

4. Cyber Insurance Application Outlook (Revenue, USD Billion, 2015 - 2025) •BFS •Healthcare •IT & Telecom •Retail •Others Cyber Insurance Regional Outlook (Revenue, USD Billion, 2015 - 2025) •North America •Europe •Asia Pacific •Latin America •Middle East & Africa Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-cyber-insurance-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact: Sherry James Corporate Sales Specialist, USA Follow Us:

5. Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email:sales@grandviewresearch.com For More Information:http://www.grandviewresearch.com Follow Us: