This report describes and explains the cybersecurity insurance market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global cybersecurity insurance market reached a value of nearly $17.76 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.23% since 2019. The market is expected to grow from $17.76 billion in 2024 to $44.95 billion in 2029 at a rate of 5.26%. The market is then expected to grow at a CAGR of 5.39% from 2029 and reach $111.34 billion in 2034.
Growth in the historic period resulted from the increased adoption of digital business models, rising incidence of cyberattacks, rising adoption of cloud computing and growth of smart cities initiatives. Factors that negatively affected growth in the historic period was high premium costs and varying government regulations.
Going forward, increased remote work, increasing number of internet of things (IoT) devices, rise in online transaction and rising number of data security breaches will drive the growth. Factor that could hinder the growth of the cybersecurity insurance market in the future include limited insurance coverage, lack of policy standardization and trade war and tariffs.
The cybersecurity insurance market is segmented by insurance type into packaged and stand-alone. The stand-alone market was the largest segment of the cybersecurity insurance market segmented by insurance type, accounting for 60.62% or $10.77 billion of the total in 2024. Going forward, the packaged segment is expected to be the fastest growing segment in the cybersecurity insurance market segmented by insurance type, at a CAGR of 5.48% during 2024-2029.
The cybersecurity insurance market is segmented by insurance coverage into data breach and cyber liability. The cyber liability market was the largest segment of the cybersecurity insurance market segmented by insurance coverage, accounting for 53.99% or $9.59 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by insurance coverage, at a CAGR of 5.06% during 2024-2029.
The cybersecurity insurance market is segmented by component into solutions and services. The solutions market was the largest segment of the cybersecurity insurance market segmented by component, accounting for 59.11% or $ 10.5 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by component, at a CAGR of 6.10% during 2024-2029.
The cybersecurity insurance market is segmented by organization size into large enterprise and small and medium enterprises (SMEs). The large enterprise market was the largest segment of the cybersecurity insurance market segmented by organization size, accounting for 66.83% or $11.87 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by organization size, at a CAGR of 5.15% during 2024-2029.
The cybersecurity insurance market is segmented by end user into technology provider and insurance provider. The technology provider market was the largest segment of the cybersecurity insurance market segmented by end user, accounting for 64.26% or $11.41 billion of the total in 2024. Going forward, the insurance provider segment is expected to be the fastest growing segment in the cybersecurity insurance market segmented by end user, at a CAGR of 5.37% during 2024-2029.
The global cybersecurity insurance market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 34.74% of the total market in 2024. The Chubb Corp. was the largest competitor with a 9.41% share of the market, followed by Munich Re AG with 3.43%, Beazley plc with 3.13%, AXA XL with 3.12%, American International Group Inc. (AIG) with 3.07%, The Travelers Companies Inc. with 2.71%, Tokio Marine HCC with 2.62%, Arch Capital Group Ltd. with 2.59%, CNA Financial Corp. with 2.41% and Zurich Insurance Group with 2.27%.
The top opportunities in the cybersecurity insurance market segmented by insurance type will arise in the packaged segment, which will gain $15.17 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by insurance coverage will arise in the data breach segment, which will gain $15.33 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by component will arise in the services segment, which will gain $15.31 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by organization size will arise in the small and medium enterprises (SMEs) segment, which will gain $14.43 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by end user will arise in the insurance provider segment, which will gain $17.01 billion of global annual sales by 2029. The cybersecurity insurance market size will gain the most in Germany at $1.33 billion.
Market-trend-based strategies for the cybersecurity insurance market include advancing cyber resilience through integrated insurance and security solutions, expanding global reach through strategic partnerships in cyber risk management, enhancing risk capacity to address evolving cyber threats, protecting connected vehicles through specialized cyber insurance solutions and simplifying access to cyber coverage through integrated security solutions.
Player-adopted strategies in the cybersecurity insurance market include focus on strategic through partnerships and expanding operational capabilities through new launches.
To take advantage of the opportunities, the analyst recommends the cybersecurity insurance market companies to focus on integrating risk management tools into insurance products, focus on increasing policy limits to meet enterprise demand, focus on expanding product offerings for the automotive sector, focus on streamlining underwriting through pre-qualification programs, focus on expanding offerings in the packaged cyber insurance segment, focus on scaling offerings in the data breach insurance segment, expand in emerging markets, continue to focus on developed markets, focus on adopting value-based pricing to strengthen market position, continue to use b2b promotions, focus on expanding underwriting capacity through strategic partnerships, focus on expanding coverage for insurance providers to capture high-growth demand.
The global cybersecurity insurance market reached a value of nearly $17.76 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.23% since 2019. The market is expected to grow from $17.76 billion in 2024 to $44.95 billion in 2029 at a rate of 5.26%. The market is then expected to grow at a CAGR of 5.39% from 2029 and reach $111.34 billion in 2034.
Growth in the historic period resulted from the increased adoption of digital business models, rising incidence of cyberattacks, rising adoption of cloud computing and growth of smart cities initiatives. Factors that negatively affected growth in the historic period was high premium costs and varying government regulations.
Going forward, increased remote work, increasing number of internet of things (IoT) devices, rise in online transaction and rising number of data security breaches will drive the growth. Factor that could hinder the growth of the cybersecurity insurance market in the future include limited insurance coverage, lack of policy standardization and trade war and tariffs.
The cybersecurity insurance market is segmented by insurance type into packaged and stand-alone. The stand-alone market was the largest segment of the cybersecurity insurance market segmented by insurance type, accounting for 60.62% or $10.77 billion of the total in 2024. Going forward, the packaged segment is expected to be the fastest growing segment in the cybersecurity insurance market segmented by insurance type, at a CAGR of 5.48% during 2024-2029.
The cybersecurity insurance market is segmented by insurance coverage into data breach and cyber liability. The cyber liability market was the largest segment of the cybersecurity insurance market segmented by insurance coverage, accounting for 53.99% or $9.59 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by insurance coverage, at a CAGR of 5.06% during 2024-2029.
The cybersecurity insurance market is segmented by component into solutions and services. The solutions market was the largest segment of the cybersecurity insurance market segmented by component, accounting for 59.11% or $ 10.5 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by component, at a CAGR of 6.10% during 2024-2029.
The cybersecurity insurance market is segmented by organization size into large enterprise and small and medium enterprises (SMEs). The large enterprise market was the largest segment of the cybersecurity insurance market segmented by organization size, accounting for 66.83% or $11.87 billion of the total in 2024. Going forward, it is expected to be the fastest growing segment in the cybersecurity insurance market segmented by organization size, at a CAGR of 5.15% during 2024-2029.
The cybersecurity insurance market is segmented by end user into technology provider and insurance provider. The technology provider market was the largest segment of the cybersecurity insurance market segmented by end user, accounting for 64.26% or $11.41 billion of the total in 2024. Going forward, the insurance provider segment is expected to be the fastest growing segment in the cybersecurity insurance market segmented by end user, at a CAGR of 5.37% during 2024-2029.
The global cybersecurity insurance market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 34.74% of the total market in 2024. The Chubb Corp. was the largest competitor with a 9.41% share of the market, followed by Munich Re AG with 3.43%, Beazley plc with 3.13%, AXA XL with 3.12%, American International Group Inc. (AIG) with 3.07%, The Travelers Companies Inc. with 2.71%, Tokio Marine HCC with 2.62%, Arch Capital Group Ltd. with 2.59%, CNA Financial Corp. with 2.41% and Zurich Insurance Group with 2.27%.
The top opportunities in the cybersecurity insurance market segmented by insurance type will arise in the packaged segment, which will gain $15.17 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by insurance coverage will arise in the data breach segment, which will gain $15.33 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by component will arise in the services segment, which will gain $15.31 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by organization size will arise in the small and medium enterprises (SMEs) segment, which will gain $14.43 billion of global annual sales by 2029. The top opportunities in the cybersecurity insurance market segmented by end user will arise in the insurance provider segment, which will gain $17.01 billion of global annual sales by 2029. The cybersecurity insurance market size will gain the most in Germany at $1.33 billion.
Market-trend-based strategies for the cybersecurity insurance market include advancing cyber resilience through integrated insurance and security solutions, expanding global reach through strategic partnerships in cyber risk management, enhancing risk capacity to address evolving cyber threats, protecting connected vehicles through specialized cyber insurance solutions and simplifying access to cyber coverage through integrated security solutions.
Player-adopted strategies in the cybersecurity insurance market include focus on strategic through partnerships and expanding operational capabilities through new launches.
To take advantage of the opportunities, the analyst recommends the cybersecurity insurance market companies to focus on integrating risk management tools into insurance products, focus on increasing policy limits to meet enterprise demand, focus on expanding product offerings for the automotive sector, focus on streamlining underwriting through pre-qualification programs, focus on expanding offerings in the packaged cyber insurance segment, focus on scaling offerings in the data breach insurance segment, expand in emerging markets, continue to focus on developed markets, focus on adopting value-based pricing to strengthen market position, continue to use b2b promotions, focus on expanding underwriting capacity through strategic partnerships, focus on expanding coverage for insurance providers to capture high-growth demand.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Cybersecurity Insurance Market - Macro Economic Scenario
9 Cybersecurity Insurance Growth Analysis and Strategic Analysis Framework
10 Qualitative Information on the Global Case Studies of Cybersecurity Insurance
11 Qualitative Analysis on Terms of Each Cybersecurity Insurance Type (Packaged and Stand-Alone)
12 Global Cybersecurity Insurance Market Segmentation
13 Europe Market
14 Competitive Landscape and Company Profiles
15 Other Major and Innovative Companies
18 Key Mergers and Acquisitions
19 Recent Developments in Cybersecurity Insurance
20 Opportunities and Strategies
21 Cybersecurity Insurance Market, Conclusions and Recommendations
22 Appendix
Executive Summary
Cybersecurity Insurance Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global cybersecurity insurance market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for cybersecurity insurance? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The cybersecurity insurance market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider cybersecurity insurance market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by insurance type, by insurance coverage, by component, by organization size and by end user.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the gas sensors market.
- Growth Analysis and Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by insurance type, by insurance coverage, by component, by organization size and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on Europe and major countries within the region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments - Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations: This section includes recommendations for cybersecurity insurance providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Insurance Type: Packaged; Stand-Alone2) By Insurance Coverage: Data Breach; Cyber Liability
3) By Component: Solutions; Services
4) By Organization Size: Large Enterprise; Small and Medium Enterprises (SMEs)
5) By End User: Technology Provider; Insurance Provider
Companies Mentioned: the Chubb Corp.; Munich Re AG; Beazley plc; AXA XL; American International Group Inc. (AIG).
Countries: Ukraine; Austria; Belgium; Denmark; Finland; France; Germany; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; UK; Czech Republic; Poland; Romania; Greece; Hungary
Regions: Europe
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; cybersecurity insurance indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Cybersecurity Insurance market report include:- The Chubb Corp.
- Munich Re AG
- Beazley plc
- AXA XL
- American International Group Inc. (AIG).
- The Travelers Companies Inc.
- Tokio Marine HCC
- Arch Capital Group Ltd.
- CNA Financial Corp.
- Zurich Insurance Group
- Allianz SE
- Aon plc
- Arthur J. Gallagher & Co.
- AXIS Capital Holdings Limited
- Lloyd’s of London Ltd.
- Lockton Companies
- Endurance Specialty Holdings Ltd
- Zurich Insurance Group
- The Hartford Insurance Group, Inc
- Argo Group
- Aspen Insurance Holdings Limited
- Berkshire Hathaway Specialty Insurance Company
- QBE Insurance Group Limited
- Starr Companies
- Swiss Re Ltd
- Coalition, Inc.
- Baobab Insurance GmbH
- Hiscox Ltd
- BOXX Insurance
- Descartes
- Sophos
- Cowbell Cyber
- Allianz-Tiriac Asigurari SA
- AlfaStrakhovanie
- Kooperativa
- AIG Czech Republic
- Marsh s.r.o. (Broker)
- PZU (Powszechny Zakład Ubezpieczeń S.A.)
- Sogaz Insurance Group
- RESO-Garantia
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 364 |
| Published | September 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 17.76 Billion |
| Forecasted Market Value ( USD | $ 111.34 Billion |
| Compound Annual Growth Rate | 20.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 41 |
