The Asia Pacific Cyber Insurance Market would witness market growth of 35.5% CAGR during the forecast period (2019-2025). Cyber insurance is expected to help businesses reduce damages due to potential cybercrime threats like malware, ransom ware, distributed denial-of-service attacks, or other threats that can seriously damage a network. Cyber insurance covers a business' responsibility for data breach, including confidential customer information such as social security numbers, credit card details, license numbers for drivers, account details, and health records.
The use of the Internet of Things (IoT), artificial intelligence (AI), robotics, and virtual reality (VR) and augmented reality (AR) has proliferated technological advances, thus positively influencing the use of these technologies at workplaces and homes. These developments, however, have made way for new parameters of threat. The insurance industry will mitigate the cyber risks associated with these emerging threats by an organization or customers. Rapid industrialization is expected to drive the Asia Pacific market in developing economies like India, China, and other South Asian countries. It is expected that this regional market will display the highest CAGR over the forecast period. It is anticipated that a growing number of small and medium-sized businesses in the region would generate significant demand for cyber insurance companies.
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Sized Enterprises. Based on Application, the market is segmented into Banking & Financial Services, IT & Telecom, Healthcare, Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Cyber Insurance Market in Asia Pacific is expected to register a CAGR of 35.5% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aon Plc., American International Group, Inc. (AIG), Allianz Group, Berkshire Hathaway, Inc., Lockton Companies, Inc., Chubb Limited, Munich Re Group, AXA XL SA, Zurich Insurance Group and Lloyd’s Group of London Ltd.
Market Segmentation:
By Organization Size
By Application
By Country
Companies Profiled
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