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Cyber Insurance Market size worth $ 68.17 Billion, Globally, by 2030 at 24.1% CAGR: Verified Market Research®

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The “Global Cyber Insurance Market Size By Deployment Model, By Service Type, By Organization Size, By Application, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Cyber Insurance Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., July 27, 2023 /PRNewswire/ — The Global Cyber Insurance Market is projected to grow at a CAGR of 24.1% from 2022 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 9.35 Billion in 2021 and is expected to reach USD 68.17 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=80249

Browse in-depth TOC onCyber Insurance Market
202 – Pages
126 – Tables
37 – Figures

Cyber Insurance Market: Growth Drivers, Challenges, and Global Impact

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The Cyber Insurance Industry offers insurance for first-party damages as well as third-party claims for businesses dealing with cyber-related security breaches or comparable occurrences. This insurance intends to cover expenses related to recovering from internet-based cyber damages, including indemnity from data breach-related legal actions, loss of privacy, and network security breaches. Rising cyberattacks pose a severe threat to people, businesses, and nations, which is why more people are using cyber insurance solutions.

Due to mandated cybersecurity laws and data protection legislation, there has been an increase in demand for cyber insurance. Globally, governments and law enforcement organizations have taken steps to improve data security. The COVID-19 epidemic has highlighted the importance of cyber insurance coverage even more, with some regions requiring state contractors handling regulated personal information to obtain cyber insurance.

Insurance companies are increasingly focusing on cyber insurance measures due to a number of data privacy laws, including the General Data Protection Regulation (GDPR) of the European Union and the US’s Personally Identifiable Information (PII) and Health Insurance Portability and Accountability Act (HIPAA).

Future adoption of the cyber insurance market is anticipated to be fueled by the growth in cyberattacks during the pandemic and rising digitization. Businesses are becoming more conscious of the potential business disruption risks associated with cyberspace, and different sectors, like banking and healthcare, are seeing an increase in the number of obligatory data security rules, which is further driving market expansion.

The increased cost of cyber insurance, however, is a significant barrier to the market’s expansion. Due to ransomware assaults in recent years, insurance companies have had to pay out hefty claims. The expense of retrieving infected systems is substantial, despite the fact that certain cyber insurance coverage do not cover ransom payments. Because of this, cyber insurance providers are raising the cost of coverage to account for new services like negotiating with hackers and helping with data recovery from ransomware attacks. Due to this, businesses now place a higher priority on enhancing cybersecurity safeguards than raising insurance rates.

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Due to the significant need for security solutions in the region, North America now owns the largest share of the global market for cyber security software. The region’s need for cyber insurance is influenced by the presence of major international corporate headquarters and offices in North America. The region’s cyber security software market is expanding as a result of strict government rules requiring security measures for data protection.

The “Global Cyber Insurance Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are IBM Corporation, Sophos, Trend Micro, Cisco Systems, HPE, Fortinet, Check Point Software Technologies Ltd., Juniper Networks, Inc, Symantec Corporation.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Cyber Insurance Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Cyber Insurance Market into Deployment Model, Service Type, Organization Size, Application, And Geography.

  • Cyber Insurance Market, by Deployment Model
    • Cloud-based
    • On-premise
  • Cyber Insurance Market, by Service Type
    • Wireless security
    • Application security
    • Network security
    • Endpoint security
    • Others
  • Cyber Insurance Market, by Organization Size
    • Large Companies
    • Small and Medium Businesses
  • Cyber Insurance Market, by Application
    • Government
    • IT and Telecommunications
    • Banking, Financial Services, and Insurance (BFSI)
    • Retail
    • Healthcare
    • Aerospace and Defense
    • Manufacturing
    • Others
  • Cyber Insurance Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Industrial Cybersecurity Market By Type (Network Security, Endpoint Security, Application Security), By End-Use (Energy & Utilities, Transportation Systems, Chemicals and Manufacturing), By Geography, And Forecast

Healthcare Cybersecurity Market By Type of Solution (Identity and Access Management, Security Information and Event Management, Antivirus and Antimalware), By Type of Threat (DDoS, Malware, Advanced Persistent Threats), By End-use (Pharma & Chemicals, Medical Devices, Health Insurance, Hospitals), By Type of Security (Network Security, Endpoint Security, Application Security), By Geography, And Forecast

Cybersecurity Solutions And Services Market By Product (Identity and Access Management (IAM), Risk and compliance management, Encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), Firewall, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS), Others), By Application (Commercial, Personal), By Geography, And Forecast

Top 4 Cybersecurity Companies putting firewall between confidential data and malware

Visualize Cyber Insurance Market using Verified Market Intelligence -:

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Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

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We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
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US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
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View original content:https://www.prnewswire.co.uk/news-releases/cyber-insurance-market-size-worth–68-17-billion-globally-by-2030-at-24-1-cagr-verified-market-research-301887302.html

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Blockchain Press Releases

HTX Appoints Singapore National Goalkeeper Hassan Sunny as Chief Safeguarding Officer

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SINGAPORE, June 15, 2024 /PRNewswire/ — HTX, a leading cryptocurrency exchange, proudly announces the appointment of Singapore national football team goalkeeper Hassan Sunny as Chief Safeguarding Officer.

“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, Member of the HTX Global Advisory Board. “Together, we will work to ensure the safety and security of user assets in the ever-evolving crypto world. Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible.”

Sunny also expressed his excitement about joining the HTX family, stating “I am excited to be part of HTX. I can’t wait to embark on this journey with the team.”

Sunny has been called a national hero in China for his outstanding performance in the final group match of the first round of the 2026 FIFA World Cup Asian Qualifiers against Thailand on June 11th. Despite facing relentless attacks, Sunny made an incredible 11 saves, including a crucial one in stoppage time. Singapore ultimately lost the match 1-3, but their result helped China qualify for the next round at the expense of Thailand.

About HTX:

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Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – “global development, technology drives development, and technology for good” underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.

 

View original content:https://www.prnewswire.co.uk/news-releases/htx-appoints-singapore-national-goalkeeper-hassan-sunny-as-chief-safeguarding-officer-302173558.html

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Blockchain

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Blockchain

Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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