By end user, cybersecurity insurance solutions to be leveraged maximum by insurance providers, registering an 18% CAGR.
Presence of major key players and the growth of IT business in U.S. to push the market to US$ 21.3 Billion by 2032.
Global cybersecurity insurance market to yield an absolute value of $50 billion. U.K. market is expected to grow at a CAGR of 17.1% during the forecast period.
With a growing demand for cybersecurity insurances due to concerns with social media platforms and the growing digitization and threats in the BFSI industries, cybersecurity insurances are expected to grow rapidly in coming years.
With the growth of cloud-based technologies and the adoption of cloud-based storage systems, the market is projected to grow in the future.
Strategic partnerships can provide a company with the potential to expand its operational capabilities. Insurers provide smart and dynamic policies that can help recover a company’s financial losses in the market.