Report ID: SQMIG40O2003
Report ID:
SQMIG40O2003 |
Region:
Global |
Published Date: June, 2024
Pages:
242
|
Tables:
93 |
Figures:
76
Cyber Insurance Market size was valued at USD 14.02 Billion in 2023 and is poised to grow from USD 16.81 Billion in 2024 to USD 71.9 Billion by 2032, growing at a CAGR of 19.92% during the forecast period (2025-2032).
The rapidly evolving cyber threat landscape coupled with the growing prevalence of cyberattacks around the world is boosting the demand for novel cyber insurance solutions. Increasing emphasis on companies on securing and ensuring their digital assets and imposition of stringent regulatory mandates for insurance are also estimated to create new opportunities for cyber insurance companies in the future. High adoption of digital transformation around the world and growing losses due to cybersecurity breaches are also slated to promote the demand for better cyber insurance solutions and offerings going forward. On the other hand, lack of standardization, increasing sophistication of cyberattacks, high premiums, limited coverage, and risk assessment and underwriting issues are slated to be key constraints for cyber insurance providers in the long run.
US Cyber Insurance Market is poised to grow at a sustainable CAGR for the next forcast year.
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Report ID: SQMIG40O2003