The international market of cyber insurance is expected to grow at a CAGR of 28% form the year 2016 to 2022. The factors responsible for the increased growth rate is increasing awareness about the threat of cyber-attacks. The constant evolution of technology is changing cyber threats thus slowing the growth rate of cyber insurance. However, the lower market penetration in developing countries can create scope for the market.
The worldwide market of cyber insurance is divided based on the Geography, industry, and company. The cyber insurance is divided into different types based on the size of these companies. Many of the companies purchase cyber insurance policies regardless of their size.
The cyber insurance market is also divided based on the regions and North America holds the largest market share. The growth of cyber insurance policy is now mature and the potential of growth is limited. The market in Europe is less penetrative compared to North America. The new regulation of Europe would force companies to buy cyber insurances. The Asia Pacific has a smaller market share but its growth rate is expected to be the highest.
The report provides details of the key players providing cyber insurance along with their business strategy. The statistical data of the companies is provided to provide insight into the market of cyber insurance in all the industries.