Press Release - | Cybersecurity Insurance Market to Reach Valuation of USD 26.24 Billion by 2028 - The growing consequences of Cyber-Attacks is driving the Market Growth |
Vantage Market Research | 13 Apr 2022
Technology & Media
Cybersecurity Insurance Market to Reach Valuation of USD 26.24 Billion by 2028 - The growing consequences of Cyber-Attacks is driving the Market Growth
In terms of revenue, the Global Cybersecurity Insurance Market Market is expected to reach USD 26.24 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 21.1% for the forecast period from the year 2022 till the year 2028. The growth of the Global Cybersecurity Insurance Market is attributed to an increase in cyber-attacks on public safety, government cyber security, and economic prosperity. Moreover, the increase in compulsory cybersecurity legislation and regulations, increased rates of recovery of financial losses, and data breaks that charge millions of dollars for businesses are contributing to the growth of the Cybersecurity Insurance Market during the forecast period. Moreover, the growing consciousness about business interruption cyber risk and a rise in the number of obligatory regulations for the safety of data in different end-user like healthcare, and banking are the factors projected to fuel the growth of the Cybersecurity Insurance Market in the coming years.
Key Highlights from the Report
Some of the key players in the Cybersecurity Insurance Market include - [object Object].
Market Dynamics:
The Cybersecurity Insurance Market is witnessing growth due to the rise in necessary cybersecurity regulations and legislations, data breaks that charge millions of dollars for businesses, and growth in the rate of recovery of financial losses that are having a positive impact on the growth of Cybersecurity Insurance Market during the forecast period.
The rise in the acceptance of cyber insurance products which is possible due to the increase in the occurrence of cyber-attacks on the economic prosperity, public safety, and cyber security of governments is majorly contributing to the growth of the Cybersecurity Insurance Market during the forecast period.
North America is the largest market. The market growth in North America is mainly attributed to the increasing cases of cyber-attacks in several countries like the USA, Canada, and Mexico during the forecast period. North America’s Cybersecurity Insurance Market insurance market is valued at $8321.50 million in the year 2021. North America is among the well-established economies, which authorize it to invest in the activities of research and development and this can contribute to the growth of advanced technologies in the Cybersecurity Insurance Market in the coming years.
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Technology & Media
Cybersecurity Insurance Market to Reach Valuation of USD 26.24 Billion by 2028 - The growing consequences of Cyber-Attacks is driving the Market Growth
13 Apr 2022
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Cybersecurity Insurance Market to Reach Valuation of USD 26.24 Billion by 2028 - The growing consequences of Cyber-Attacks is driving the Market Growth
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