Growing Digital Business Landscape Across The Globe To Trigger The Growth Of Cyber Liability Insurance Market In Future, According To Research Nester
“Cyber
Liability Insurance Market: Global Demand Analysis & Opportunity Outlook
2023”
The global
cyber liability insurance market is segmented into end user such as wholesale
& retail, manufacturing, mining & construction, public administration,
banking, financial services and insurances (BFSI) and telecommunications. Among
these segments, banking, financial and insurances (BFSI) segment is expected to
occupy the top position in cyber liability insurance market during the forecast
period. Rising awareness regarding cyber risks and increasing cyber-attacks on
banking institutions are anticipated to foster the growth of banking, financial
services and insurance cyber liability insurance market.
Global cyber
liability insurance market is expected to flourish at a CAGR of 11.1% over the
forecast period. Moreover, the global cyber liability insurance market was held
at a valuation of USD 2.2 Billion in 2015. Increasing cyber-attacks in retail,
wholesale, healthcare, financial services and other industries are believed to
the dynamic factor behind the growth of cyber liability insurance market during
the forecast period.
North
America accounted for the largest percentage of market share, in overall cyber
liability market in 2016. Further, North America is expected to dominate the
market over the forecast period. This can be attributed to the presence of
stringent regulations regarding the cyber security in the region. Furthermore,
Europe region is anticipated to witness satisfactory growth on the account of
recent legislation of cyber liability insurance policies.
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Report Sample @
Increasing Cyber Attacks across the Globe
Rise in the number of cyber
breaches and increasing awareness regarding cyber liability insurance policies
is fuelling the growth of cyber liability insurance market.
Further, rising retail and financial services has triggered the demand for cyber
liability insurance. Furthermore, increasing small enterprises across the globe
is also creating dynamic demand for cyber liability insurance.
Favourable Government Policies
Stringent
government regulations instructing the companies to adopt cyber liability
insurance is driving the growth of the global cyber liability insurance market.
Further, recent legislations regarding cyber security in the untapped regions
such as Asia Pacific and Europe is anticipated to provide robust growth to the
global cyber liability insurance market.
Although,
slow adoption of cyber liability insurance by small and medium enterprises,
unavailability of diversified insurance policies and complexities associated
with cyber insurance are some of the factors that are likely to inhibit the
growth of the global cyber liability insurance market in the near future.
The
report titled “Cyber Liability
Insurance Market : Global Demand Analysis &
Opportunity Outlook 2023” delivers
detailed overview of the global cyber liability insurance market in terms of
market segmentation by coverage, by end user and by region.
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Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This
report also provides the existing competitive scenario of some of the key
players of the global cyber liability insurance market which includes company
profiling of Chubb Limited, America
International Group, Inc., Beazley PLC, CNA Financial Corporation, Hiscox Limited,
Zurich Insurance Group Ltd., XL Group Ltd, Berkshire Hathaway Specialty
Insurance, Allianz and Munich Re Group. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials and recent news and developments. On the whole, the
report depicts detailed overview of the global cyber liability insurance market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
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The Analyst @
About Us:-
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Contact for more
Info:
Ajay
Daniel
Email: ajay.daniel@researchnester.com
Phone:
: +1 6465869123
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