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Global Cyber Insurance Market Size is valued at USD 11.0 Billion in 2024 and is predicted to reach USD 32.3 Billion by the year 2034 at a 11.5% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
Cyber insurance is a specialized insurance product that protects against the financial risks of cybersecurity threats. It offers coverage for various crimes, including ransom, data loss, hacking, theft, disruption of service, and other online crimes. Organizations are more susceptible to electronic warfare and data breaches as the number of electronic devices used to store data increases.
One of the latest technologies that are evolving the fastest is cloud computing. It dismantles previous barriers in IT, creates new markets, encourages the mobility trend, and makes unified communications breakthroughs possible. Several IT stakeholders and businesses are turning to novel insurance models to evaluate the risks related to retaining sensitive data in the current cybersecurity climate.
Additionally, two of the newest and most promising technologies are blockchain and artificial intelligence (AI) technology, which are anticipated to offer risk analytics solutions and generate new business opportunities for the cyber insurance market growth.
However, as cloud computing is a frequent target of cyberattacks, there is a greater need for cybersecurity insurance. Insurers will take a wider variety of security measures and solutions into account as the cyber insurance market expands. The importance of the data and an organization's capacity to appropriately protect it will be essential factors in assessing overall risk and influencing the adoption of new technologies.
The Cyber Insurance market is segmented by offering, insurance coverage, Compliance Requirements, insurance type, end user. Based on offering, the market is segmented as solution, services. Solution is sub segmented into Cyber Insurance analytics platform, Disaster recovery and business continuity, Cybersecurity solution. Cybersecurity solution is sub segmented into Cyber risk and vulnerability assessment, Cybersecurity resilience. Service is sub segmented into Consulting/ Advisory, Security awareness training, Others (infrastructure services, implementation, and support and maintenance). The market is segmented by Insurance Coverage: Data breach and Cyber liability. Data breach is sub segmented into Data loss, Denial of service and down-time, Ransomware attacks, Others (third party data, business disruption, and social engineering). Cyber liability is sub segmented into type and source/ Target. Type is sub segmented into Data protection and privacy costs, Non-compliance penalty, Brand and related intellectual property protection, Others (human error, systems failure, controls framework, Inadequate IT security measures, and non-security related IT). Source/ Target is sub segmented into Internal, External. By Compliance Requirements market is segmented into Healthcare Compliance, Financial Services Compliance, GDPR Compliance, Data Privacy Compliance, Other Compliances. By insurance type market is segmented into Packaged and Stand-alone. By end user market is sub segmented into Technology provider and Insurance provider. Technology provider is sub segmented into Insurance companies, Third-party administrators, brokers, and consultancies, Government agencies. Insurance provider is sub segmented into financial services, IT and ITES, Healthcare and life science, Retail and ecommerce, Telecom, Travel, tourism, and hospitality, Others (Education, Manufacturing, Energy and Utilities, and Government).
Cyber risk insurance, or cyber liability insurance, helps organizations manage the financial impact of cyber-attacks, covering both first-party expenses (such as investigation costs, business losses, and extortion) and third-party claims (including legal proceedings and privacy issues). As cyber threats grow more sophisticated and regulations tighten, businesses are increasingly adopting Cyber Insurance to mitigate potential financial losses. By providing comprehensive coverage, these policies help insurers and businesses minimize the consequences of security breaches. Leading providers in the Cyber Insurance market include Allianz Group, AIG, Chubb, Aon, Zurich, AXA, and Berkshire Hathaway.
GDPR compliance is one of the most important drivers of growth in the Cyber Insurance Market because its strict data protection laws levy huge fines for non-compliance, and companies opt for insurance to cover financial losses. As data breaches become more common, organizations increasingly use cyber insurance to cover breach notification costs, legal expenses, and regulatory fines. Even though GDPR is an EU law, its international reach necessitates that multinational companies comply when processing EU citizen data, which further increases the need for Cyber Insurance protection.
The North American Cyber Insurance Market position is expected to report the highest market share in revenue soon. The growing frequency of cyberattacks and the significant risk of data loss are likely to be attributed to the region's need for cybersecurity insurance. The United States is anticipated to undergo rapid development because of the nation's strict cybersecurity regulations and tight government supervision. Additionally, the nation's significant presence of prominent cyber insurance companies is predicted to support Cyber Insurance Market development. In addition, Asia Pacific is projected to grow at a rapid rate in the global Cyber Insurance market. Due to the growing number of international corporations, particularly in developing nations, the rise in cybercrimes across various economic sectors, and the untapped market potential given by emerging nations like India and China.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 11.0 Billion |
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Revenue forecast in 2034 |
USD 32.3 Billion |
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Growth rate CAGR |
CAGR of 11.5% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Mn, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
offering, insurance coverage, Compliance Requirements, insurance type, end user |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain;South Korea; Southeast Asia |
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Competitive Landscape |
Allianz, American International Group, Inc., Aon plc, AXA, Berkshire Hathway Inc, Lloyd’s of London Ltd, Lockton Companies, Inc, Munich Re, The Chubb Corporation, Zurich |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Cybersecurity Insurance Market Snapshot
Chapter 4. Global Cybersecurity Insurance Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Competitive Landscape & Market Share Analysis, By Key Player (2024)
4.9. Use/impact of AI on Cybersecurity Insurance Market Industry Trends
4.10. Global Cybersecurity Insurance Market Penetration & Growth Prospect Mapping (US$ Mn), 2021-2034
Chapter 5. Cybersecurity Insurance Market Segmentation 1: By Offering, Estimates & Trend Analysis
5.1. Market Share by Offering, 2024 & 2034
5.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Offering:
5.2.1. Solution
5.2.1.1. Cybersecurity insurance analytics platform
5.2.1.2. Disaster recovery and business continuity
5.2.1.3. Cybersecurity solution
5.2.1.3.1. Cyber risk and vulnerability assessment
5.2.1.3.2. Cybersecurity resilience
5.2.2. Service
5.2.2.1. Consulting/ Advisory
5.2.2.2. Security awareness training
5.2.2.3. Others (infrastructure services, implementation, support and maintenance)
Chapter 6. Cybersecurity Insurance Market Segmentation 2: By Insurance Coverage, Estimates & Trend Analysis
6.1. Market Share by Insurance Coverage, 2024 & 2034
6.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Insurance Coverage:
6.2.1. Data breach
6.2.1.1. Data loss
6.2.1.2. Denial of service and down-time
6.2.1.3. Ransomware attacks
6.2.1.4. Others (third party data, business disruption, and social engineering)
6.2.2. Cyber liability
6.2.2.1. Type
6.2.2.1.1. Data protection and privacy costs
6.2.2.1.2. Non-compliance penalty
6.2.2.1.3. Brand and related intellectual property protection
6.2.2.1.4. Others (human error, systems failure, controls framework, Inadequate IT security measures, and non-security related IT)
6.2.2.2. Source/ Target
6.2.2.2.1. Internal
6.2.2.2.2. External
Chapter 7. Cybersecurity Insurance Market Segmentation 3: By Compliance Requirements, Estimates & Trend Analysis
7.1. Market Share by Compliance Requirements, 2024 & 2034
7.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Compliance Requirements:
7.2.1. Healthcare Compliance
7.2.2. Financial Services Compliance
7.2.3. GDPR Compliance
7.2.4. Data Privacy Compliance
7.2.5. Other Compliances
Chapter 8. Cybersecurity Insurance Market Segmentation 4: By Insurance Type, Estimates & Trend Analysis
8.1. Market Share by Insurance Type, 2024 & 2034
8.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Insurance Type:
8.2.1. Packaged
8.2.2. Stand-alone
Chapter 9. Cybersecurity Insurance Market Segmentation 5: By End User, Estimates & Trend Analysis
9.1. Market Share by End User, 2024 & 2034
9.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following End User:
9.2.1. Technology provider
9.2.1.1. Insurance companies
9.2.1.2. Third-party administrators, brokers, and consultancies
9.2.1.3. Government agencies
9.2.2. Insurance provider
9.2.2.1. Financial services
9.2.2.2. IT and ITES
9.2.2.3. Healthcare and life science
9.2.2.4. Retail and ecommerce
9.2.2.5. Telecom
9.2.2.6. Travel, tourism, and hospitality
9.2.2.7. Others (Education, Manufacturing, Energy and Utilities, and Government)
Chapter 10. Cybersecurity Insurance Market Segmentation 11: Regional Estimates & Trend Analysis
10.1. Global Cybersecurity Insurance Market, Regional Snapshot 2024 & 2034
10.2. North America
10.2.1. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.2.1.1. US
10.2.1.2. Canada
10.2.2. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
10.2.3. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Coverage, 2021-2034
10.2.4. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Compliance Requirements, 2021-2034
10.2.5. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Type, 2021-2034
10.2.6. North America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.3. Europe
10.3.1. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.3.1.1. Germany
10.3.1.2. U.K.
10.3.1.3. France
10.3.1.4. Italy
10.3.1.5. Spain
10.3.1.6. Rest of Europe
10.3.2. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
10.3.3. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Coverage, 2021-2034
10.3.4. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Compliance Requirements, 2021-2034
10.3.5. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Type, 2021-2034
10.3.6. Europe Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.4. Asia Pacific
10.4.1. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.4.1.1. India
10.4.1.2. China
10.4.1.3. Japan
10.4.1.4. Australia
10.4.1.5. South Korea
10.4.1.6. Hong Kong
10.4.1.7. Southeast Asia
10.4.1.8. Rest of Asia Pacific
10.4.2. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
10.4.3. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Coverage, 2021-2034
10.4.4. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Compliance Requirements, 2021-2034
10.4.5. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Type, 2021-2034
10.4.6. Asia Pacific Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.5. Latin America
10.5.1. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.5.1.1. Brazil
10.5.1.2. Mexico
10.5.1.3. Rest of Latin America
10.5.2. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
10.5.3. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Coverage, 2021-2034
10.5.4. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Compliance Requirements, 2021-2034
10.5.5. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Type, 2021-2034
10.5.6. Latin America Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.6. Middle East & Africa
10.6.1. Middle East & Africa Wind Turbine Rotor Blade Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.6.1.1. GCC Countries
10.6.1.2. Israel
10.6.1.3. South Africa
10.6.1.4. Rest of Middle East and Africa
10.6.2. Middle East & Africa Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
10.6.3. Middle East & Africa Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Coverage, 2021-2034
10.6.4. Middle East & Africa Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Compliance Requirements, 2021-2034
10.6.5. Middle East & Africa Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by Insurance Type, 2021-2034
10.6.6. Middle East & Africa Cybersecurity Insurance Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Allianz
11.2.1.1. Business Overview
11.2.1.2. Key Service/Service Overview
11.2.1.3. Financial Performance
11.2.1.4. Geographical Presence
11.2.1.5. Recent Developments with Business Strategy
11.2.2. American International Group, Inc.
11.2.3. Aon plc
11.2.4. AXA
11.2.5. AXIS Capital Holdings Limited
11.2.6. BCS Financial Corporation
11.2.7. Beazley Group
11.2.8. Berkshire Hathaway Inc
11.2.9. Chubb (Switzerland)
11.2.10. CNA Financial Corporation
11.2.11. Lloyds of London Ltd
11.2.12. Lockton Companies, Inc
11.2.13. Munich Re
11.2.14. The Chubb Corporation
11.2.15. The Hanover Insurance, Inc.
11.2.16. Travelers Indemnity Company
11.2.17. Zurich Insurance
Cyber Insurance Market By Offering:
Cyber Insurance Market By Insurance Coverage:
Cyber Insurance Market By Compliance Requirements:
Cyber Insurance Market By insurance type:
Cyber Insurance Market By End User:
Cyber Insurance Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
