Cyber Insurance Market
Cyber Insurance Market Forecasts to 2028 - Global Analysis By Component (Services, Solution and Other Components), Company Size (Small Companies, Medium Companies, Large Companies and Other Company Sizes), Industry Vertical, Coverage Type and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $11.9 BN |
|
Projected Year Value (2028) |
US $38.47 BN |
|
CAGR (2022 - 2028) |
21.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cyber Insurance Market is accounted for $11.9 billion in 2022 and is expected to reach $38.47 billion by 2028 growing at a CAGR of 21.6% during the forecast period. Cyber insurance is intended to help an organization with cyber-related security breach or similar events. It provides coverages related to first parties as well as claims by third parties, in order to diminish risk experience by offsetting costs involved with recovery of internet-based cyber losses. It obviously includes losses from network security breaches, loss of privacy, indemnification from lawsuits related to data breaches and others.
According to HIPAA Journal, around 29.1% of monthly data breaches were recorded across companies and ransomware attacks have risen by 93% and most of these were due to digital payments and electronic records.
Market Dynamics:
Driver:
Growth in cyber-attacks
Growing number of cyber-attacks in several sectors such as banking, healthcare, retail, financial institutions and others has led to the data security and reputational loss concerns. These cyber threats have a number of implications on public safety, economic prosperity and government security. Increase in number of cyber-attacks and security breaches across the industry drive the growth of cyber insurance premiums in the market.
Restraint:
Lack of standardized policies
Cyber insurance has an immense potential as it is largely an untapped market in developing economies. It has impact on declining customer base, disruption of business, regulatory fines, legal penalties, loss of intellectual property and reputational damage. Lack of standardized policies and changes in perils are projected to limit the market growth.
Opportunity:
Expansion of products and services
Cyber insurance has an immense potential as it is largely an untapped market. The companies are extending cyber liability to their supply chains, providing new opportunities for cyber insurance providers to innovate their insurance products in the market. The innovations by the insurance vendors are anticipated to drive the market opportunities during the forecast period.
Threat:
High cyber insurance costs
The high cost of cyber insurance cost is one of the major factors hindering the growth of the market. Insurance companies had to pay out expensive claims due to the ransom attacks. The cost of recovery for the system is high. Companies are raising the coverage costs to cover the additional costs due to added services.
Covid-19 Impact
Due to Covid-19 pandemic crisis, government mandated both public and private organizations to embrace new practices and maintain social distancing. Widespread of internet driving the need of cyber insurance measures for protection against cyber attacks. This solution enables organizations to ensure business continuity and maintain their security from cybercrimes and hateful threat actors.
The large enterprise segment is expected to be the largest during the forecast period
The large enterprise segment is estimated to have a lucrative growth, due to heavy investments in advanced technologies for increasing productivity and efficiency. This segment significantly invests in advanced cyber security insurance solutions to provide optimum security to their enterprises intense competitive environment as they use large number of cloud and internet based applications that are highly susceptible to cyber attacks.
The BFSI segment is expected to have the highest CAGR during the forecast period
The BFSI segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increased frequency of cyber-attacks on large volumes of customer’s data & employee information and other confidential details of credit cards. This segment is projected to maintain its dominance in the market.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to well established economies and sustainability. R&D activities are contributing to the development of new technologies in cyber insurance market. The major key players in this region are expected to be the major factor driving the growth of the market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rise in cybercrime and devasting impact on business in this region. Business leaders are looking for various facets of cyber insurance to safeguard from cyber attacks which is set to boost the growth of the region.
Key players in the market
Some of the key players profiled in the Cyber Insurance Market include American International Group, Inc, Munich Re, AXA SA, Lloyd’s of London Ltd, Guy Carpenter & Company LLc, Allianz, Beazley Group Plc, Security Scorecard, Berkshire Hathway Inc, Jardine Lloyd Thompson Group Plc, The Chubb Corporation, Cisco Systems, Aon plc, Apple Inc, Zurich Insurance Group, AT-Bay Inc, Lockton Companies, Inc, Tata Consultancy Services, Cyber Indemnity Solutions, Upguard, Elpha Secure.
Key Developments:
In April 2022, Beazley Group and Cytora partnered to streamline insurance for clients and brokers, accelerate profitable growth and automate risk processing. By implementing the Cytora platform, Beazley modernises global underwriting operations, improves processing and reduces manual processes.
In March 2021, Elpha Secure and AXIS partnered to provide cyber and software protection to small businesses. This partnership helps to improve cyber security and mitigate the risk of common cyber threats.
Components Covered:
• Services
• Solution
• Other Components
Company Sizes Covered:
• Small Companies
• Medium Companies
• Large Companies
• Other Company Sizes
Industry Verticals Covered:
• Information Technology
• Telecom
• Healthcare
• BFSI
• Retail
• E-Commerce
• Government Sector
• Public Sector
• Manufacturing Sector
• Other Industry Verticals
Coverage Types Covered:
• First Party Coverage
• Third Party Coverage
• Other Coverage Types
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cyber Insurance Market, By Component
5.1 Introduction
5.2 Services
5.3 Solution
5.4 Other Components
6 Global Cyber Insurance Market, By Company Size
6.1 Introduction
6.2 Small Companies
6.3 Medium Companies
6.4 Large Companies
6.5 Other Company Sizes
7 Global Cyber Insurance Market, By Industry Vertical
7.1 Introduction
7.2 Information Technology
7.3 Telecom
7.4 Healthcare
7.5 BFSI
7.6 Retail
7.7 E-Commerce
7.8 Government Sector
7.9 Public Sector
7.10 Manufacturing Sector
7.11 Other Industry Verticals
8 Global Cyber Insurance Market, By Coverage Type
8.1 Introduction
8.2 First Party Coverage
8.3 Third Party Coverage
8.4 Other Coverage Types
9 Global Cyber Insurance Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 American International Group, Inc
11.2 Munich Re
11.3 AXA SA
11.4 Lloyd’s of London Ltd
11.5 Guy Carpenter & Company LLc
11.6 Allianz
11.7 Beazley Group Plc
11.8 Security Scorecard
11.9 Berkshire Hathway Inc
11.10 Jardine Lloyd Thompson Group Plc
11.11 The Chubb Corporation
11.12 Cisco Systems
11.13 Aon plc
11.14 Apple Inc
11.15 Zurich Insurance Group
11.16 AT-Bay Inc
11.17 Lockton Companies, Inc
11.18 Tata Consultancy Services
11.19 Cyber Indemnity Solutions
11.20 Upguard
11.21 Elpha Secure
List of Tables
1 Global Cyber Insurance Market Outlook, By Region (2020-2028) ($MN)
2 Global Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
3 Global Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
4 Global Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
5 Global Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
6 Global Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
7 Global Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
8 Global Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
9 Global Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
10 Global Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
11 Global Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
12 Global Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
13 Global Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
14 Global Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
15 Global Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
16 Global Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
17 Global Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
18 Global Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
19 Global Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
20 Global Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
21 Global Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
22 Global Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
23 Global Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
24 Global Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
25 Global Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
26 North America Cyber Insurance Market Outlook, By Country (2020-2028) ($MN)
27 North America Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
28 North America Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
29 North America Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
30 North America Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
31 North America Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
32 North America Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
33 North America Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
34 North America Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
35 North America Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
36 North America Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
37 North America Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
38 North America Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
39 North America Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
40 North America Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
41 North America Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
42 North America Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
43 North America Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
44 North America Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
45 North America Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
46 North America Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
47 North America Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
48 North America Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
49 North America Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
50 North America Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
51 Europe Cyber Insurance Market Outlook, By Country (2020-2028) ($MN)
52 Europe Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
53 Europe Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
54 Europe Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
55 Europe Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
56 Europe Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
57 Europe Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
58 Europe Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
59 Europe Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
60 Europe Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
61 Europe Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
62 Europe Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
63 Europe Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
64 Europe Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
65 Europe Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
66 Europe Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
67 Europe Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
68 Europe Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
69 Europe Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
70 Europe Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
71 Europe Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
72 Europe Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
73 Europe Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
74 Europe Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
75 Europe Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
76 Asia Pacific Cyber Insurance Market Outlook, By Country (2020-2028) ($MN)
77 Asia Pacific Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
78 Asia Pacific Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
79 Asia Pacific Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
80 Asia Pacific Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
81 Asia Pacific Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
82 Asia Pacific Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
83 Asia Pacific Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
84 Asia Pacific Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
85 Asia Pacific Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
86 Asia Pacific Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
87 Asia Pacific Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
88 Asia Pacific Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
89 Asia Pacific Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
90 Asia Pacific Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
91 Asia Pacific Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
92 Asia Pacific Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
93 Asia Pacific Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
94 Asia Pacific Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
95 Asia Pacific Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
96 Asia Pacific Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
97 Asia Pacific Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
98 Asia Pacific Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
99 Asia Pacific Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
100 Asia Pacific Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
101 South America Cyber Insurance Market Outlook, By Country (2020-2028) ($MN)
102 South America Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
103 South America Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
104 South America Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
105 South America Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
106 South America Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
107 South America Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
108 South America Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
109 South America Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
110 South America Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
111 South America Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
112 South America Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
113 South America Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
114 South America Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
115 South America Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
116 South America Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
117 South America Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
118 South America Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
119 South America Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
120 South America Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
121 South America Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
122 South America Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
123 South America Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
124 South America Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
125 South America Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
126 Middle East & Africa Cyber Insurance Market Outlook, By Country (2020-2028) ($MN)
127 Middle East & Africa Cyber Insurance Market Outlook, By Component (2020-2028) ($MN)
128 Middle East & Africa Cyber Insurance Market Outlook, By Services (2020-2028) ($MN)
129 Middle East & Africa Cyber Insurance Market Outlook, By Solution (2020-2028) ($MN)
130 Middle East & Africa Cyber Insurance Market Outlook, By Other Components (2020-2028) ($MN)
131 Middle East & Africa Cyber Insurance Market Outlook, By Company Size (2020-2028) ($MN)
132 Middle East & Africa Cyber Insurance Market Outlook, By Small Companies (2020-2028) ($MN)
133 Middle East & Africa Cyber Insurance Market Outlook, By Medium Companies (2020-2028) ($MN)
134 Middle East & Africa Cyber Insurance Market Outlook, By Large Companies (2020-2028) ($MN)
135 Middle East & Africa Cyber Insurance Market Outlook, By Other Company Sizes (2020-2028) ($MN)
136 Middle East & Africa Cyber Insurance Market Outlook, By Industry Vertical (2020-2028) ($MN)
137 Middle East & Africa Cyber Insurance Market Outlook, By Information Technology (2020-2028) ($MN)
138 Middle East & Africa Cyber Insurance Market Outlook, By Telecom (2020-2028) ($MN)
139 Middle East & Africa Cyber Insurance Market Outlook, By Healthcare (2020-2028) ($MN)
140 Middle East & Africa Cyber Insurance Market Outlook, By BFSI (2020-2028) ($MN)
141 Middle East & Africa Cyber Insurance Market Outlook, By Retail (2020-2028) ($MN)
142 Middle East & Africa Cyber Insurance Market Outlook, By E-Commerce (2020-2028) ($MN)
143 Middle East & Africa Cyber Insurance Market Outlook, By Government Sector (2020-2028) ($MN)
144 Middle East & Africa Cyber Insurance Market Outlook, By Public Sector (2020-2028) ($MN)
145 Middle East & Africa Cyber Insurance Market Outlook, By Manufacturing Sector (2020-2028) ($MN)
146 Middle East & Africa Cyber Insurance Market Outlook, By Other Industry Verticals (2020-2028) ($MN)
147 Middle East & Africa Cyber Insurance Market Outlook, By Coverage Type (2020-2028) ($MN)
148 Middle East & Africa Cyber Insurance Market Outlook, By First Party Coverage (2020-2028) ($MN)
149 Middle East & Africa Cyber Insurance Market Outlook, By Third Party Coverage (2020-2028) ($MN)
150 Middle East & Africa Cyber Insurance Market Outlook, By Other Coverage Types (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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