Insurance Platform Market 2023 | Overview, Growth, economics, Demand and Forecast Research Report to 2030

Insurance Platform Market is set to experience rapid growth, projected to surge from USD 81.7 billion in 2023 to USD 156.0 billion by 2028, at a CAGR of 13.8% during the forecast period of 2023–2028. This remarkable expansion is driven by a confluence of factors. First and foremost, the insurance industry's relentless pursuit of digitization and automation is reshaping the insurance landscape, reducing operational costs, and enhancing customer experiences. Moreover, the increasing demand for personalized insurance solutions, powered by advanced data analytics and AI, is pushing insurers to invest heavily in platform-based technologies. Additionally, regulatory changes are accelerating the adoption of compliant platforms, while the rising popularity of insurtech startups and the need for seamless customer journeys are shaping the insuance platform market's future. In this dynamic landscape, insurance platforms are poised to revolutionize the industry, providing agility, efficiency, and innovation on an unprecedented scale.

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By offering, consulting and advisory services segment to register for the largest market share during the forecast period

Insurance platform consulting and advisory services play a pivotal role in guiding insurers through the ever-evolving landscape of digital transformation. These services, driven by the need for insurers to adapt to changing customer expectations and industry dynamics, offer expert insights and strategies. Growth in this sector is fueled by the increasing demand for customized digital solutions, regulatory compliance, and the pursuit of operational excellence. Key trends include harnessing advanced technologies like AI and blockchain to enhance underwriting and claims processing, as well as a strong emphasis on data analytics to optimize customer experiences.

By insurance type, cybersecurity insurance segment is poised for the fastest growth rate during the forecast period

Cybersecurity insurance is a rapidly evolving segment within the insurance platform market, addressing the need for protection against digital threats. It's driven by the expansion of cyberattacks and data breaches across industries, compelling businesses to safeguard their operations. Moreover, trends like increased demand for ransomware and social engineering coverage, along with stricter regulatory requirements, are reshaping the cybersecurity insurance landscape. As companies recognize the urgency of safeguarding their digital assets, this insurance type is poised for substantial growth within the broader insurance platform market.

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By region, Asia Pacific to account for highest growth rate during forecast period

The Asia Pacific insurance platform market is witnessing remarkable growth, fueled by several key drivers and trends. Rapid urbanization and an expanding middle class are boosting insurance demand across the region. Moreover, the COVID-19 pandemic has accelerated the adoption of digital solutions, propelling insurers to invest in advanced insurance platforms for improved customer service and streamlined operations. Data analytics and artificial intelligence are being harnessed to enhance underwriting precision and detect fraudulent claims. Regulatory changes, particularly in markets like China and India, are promoting innovation and opening up opportunities for insurtech firms. As customer expectations evolve, insurers are embracing customer-centric approaches, providing personalized experiences through digital channels.

Some major players in the insurance platform market include Microsoft (US), Adobe (US), Salesforce (US), IBM (US), Oracle (US), SAP (Germany), Pegasystems (US), Accenture (Ireland), DXC Technology (US), and Cognizant (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Student Information System Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2030

The global Student Information System Market size is estimated to grow from USD 10.2 billion in 2022 to USD 20.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period, according to report published by MarketsandMarkets. 

The Student Information System Market is fuelled by the need to streamline administration processes. Moreover, the rising demand for tailored solutions play a key role in driving the growth of the student information system market.

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By Component, Solutions segment to hold the larger market size during the forecast period

The solutions segment is estimated to account for a higher market share in the Student Information System market. SIS solutions are further divided into enrollment, academics, financial aid, and billing. These solutions deliver a better student experience, reorganizes internal business processes, and create learning communities that make a difference in the education industry. SIS solution is gaining traction due to the increasing demand from educational institutions to automate critical student information to better help manage, store, and track the information.

By Deployment Mode, Cloud segment to grow at the higher CAGR during the forecast period

The cloud segment is expected to have the higher CAGR growth during the forecast period. The cloud-based SIS solutions are a cost-effective and efficient way of managing big data issues across institutions. The need for enhanced security, easy deployment, ease of maintenance, scalability, enhanced collaboration, and cost-effectiveness is expected to boost the adoption of cloud-based SIS solutions and services.

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By Region, North America to account for the largest market size during the forecast period

North America is expected to hold the largest share in the Student Information System market. North America is the most mature market in terms of SIS solution adoption due to various factors such as the penetration and adoption of innovative technologies, increased competitiveness, and the growing need to track student progress and offer enhanced services accordingly. The presence of most of the top market vendors such as Oracle, Workday, Ellucian, PowerSchool, Jenzabar, Skyward, and Illuminate Education also plays a vital role in the growth of the North American student information system market.

Market Players

Major vendors in the Student Information System Market include Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (US), Tribal Group (UK), Illuminate Education (US), Arth Infosoft (India), and Focus School Software (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Social and Emotional Learning Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Demand and Upcoming Trend by Forecast to 2030

The global Social and Emotional Learning Market size is projected to grow from USD 2.7 billion in 2022 to USD 7.8 billion by 2027, at a compound annual growth rate (CAGR) of 24.0% during the forecast period according to report published by MarketsandMarkets. 

SEL platforms, programs, and assessment tools make up SEL solutions. Education professionals (schools/districts, teachers, parents, and communities) employ SEL platforms to support kids in developing their emotions, traits, empathy, connections, goals, responsibilities, and decision-making skills. Lessons, movies, and interactive modules in the form of audio, videos, games, and stories are available on these platforms.

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Solutions segment to account for largest market share during the forecast period

Only a few SEL providers make their SEL programs printable. The emotional and social development of pupils has long been a priority for educators in their experiential learning activities. As a result, educators all around the world are aggressively deploying SEL platforms. The operations are suspended for several stakeholders, including schools, districts, and NGOs. The usage of platforms has increased more rapidly in recent years. Because platforms may integrate new solutions over existing ones, their use has risen more quickly in recent years. These, however, cost a little more than standalone software. Spending on non-essentials has decreased as a result of the COVID-19 epidemic, and money has been saved in case of another financial crisis. Consequently, this has had an impact on SEL market expenditure as well.

SEL platforms is estimated to record largest market share during forecast period

The SEL platform, accessible in both online and offline formats, gives students the power to learn about social and emotional skills and a foundation on which to build their personal and professional journeys. The key competencies, according to CASEL’s frameworks, are self-awareness, self-management, social awareness, relational skills, and responsibly making decisions. Pre-K and kindergarten, elementary schools, middle schools, and high schools can all use the SEL platform. Worldwide, social groups and health organizations use it as well. The platform addresses abilities including friendship, self-esteem, behaviors, emotional recognition, hygiene, and play skills, in addition to conversation topics, self-regulation, school rules, problem-solving, basic and advanced conversational skills, situational awareness, and nonverbal communication.

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North America to record highest market share in social and emotional learning market

In this study, North America is comprised of the US and Canada. It is one of the world’s most technologically advanced areas. The area has a well-connected sophisticated infrastructure, enabling SEL businesses to provide their customers with high-quality services. Through its network architecture, it provides the world’s most cutting-edge and quick services. The early deployment of cloud and mobile technology in North America has also been a significant factor in accepting SEL solutions to increase worker effectiveness and productivity. The biggest market vendors, including Committee for Children, EVERFI, Nearpod, Illuminate Education, and Panorama Education, are present. They are a major growth driver for the North American social and emotional learning industries. Schools and institutions around the region were forced to close and conduct classes remotely due to the COVID-19 pandemic. Many students suffer from mental health problems such as grief, worry, and sadness as a result of this. As these unpleasant feelings build up, it becomes harder to think clearly, make wise choices, act socially and productively, and use your mental resources. However, in order to address these problems, the federal and state governments are putting into place laws that are crucial in fostering the development of SEL programs across states and districts.

Top Key Players:

Key and innovative vendors in the social and emotional learning market are Committee for Children (US), EVERFI (US), Nearpod (US), Illuminate Education (US), Panorama Education (US), SchoolMint (US), Newsela (US), Playworks (US), Wings for Kids (US), Rethink Ed (US), Move This World (US), Positive Action (US), Growing Leaders (US), 7 Mindsets (US), Ori Learning (US), The Conover Company (US), Imagine Learning (US), Navigate360 (US), Peekapak (Canada), Paths Program LLC (US), Brighten Learning (US), Aperture Education (US), Taproot Learning (US), MeandMine (US), Base Education (US), Everyday Speech (US), Mozoom (Canada), Wayfinder (Canada), HeyKiddo (US), Classcraft (Canada), Tamboro (Brazil), and Persona Education (UK).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

5g-services Market Pegged to Expand Robustly| Classification, Application, Industry Chain Overview, SWOT Analysis and Competitive Landscape To 2030

The global 5G Services Market size is expected to grow from USD 107.0 billion in 2022 to USD 331.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period according to report published by MarketsandMarkets. Other factors such as high number of applications being developed requiring low latency in connection have resulted in high adoption of 5G services in developing economies.

5G services will prove to be highly efficient in the healthcare sector by enabling remote patient monitoring, connected ambulance services, hd virtual consultations, video-enabled prescription management etc. Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations.

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Healthcare segment to grow at the highest CAGR during the forecast period

The lower latency 5G will enable data and video to be sent in real-time to the hospital/clinicians in emergency situations and this will have significant impact on the healthcare sector and people’s lives.

uRLLC segment is expected to grow at the highest CAGR during the forecast period

Ultra-reliable low-latency communication (URLLC) use cases such as autonomous systems and mission-critical control are going to gain traction, which increase the speed and quality of services in critical functions. The automotive industry has been an early adopter of various connectivity technologies. There has been a major impetus by car manufacturers to develop connection-ready cars, taking small steps forward within a long-term vision of autonomous vehicle control using URLLC. Service providers may decide to provide focussed offerings end-to-end as the principle B2B services provider. So for example they may supply services, including high-definition cameras to a car manufacturer that requires 5G and URLLC on a production line.

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As per region, North America to have the highest market size during the forecasted period

Asia Pacific (APAC) region to record the highest growing region in the 5G services market

The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resulted in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China, South Korea, Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.

The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.

Key Players:

Key and innovative vendors in 5G services market are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India),and Telenor Group (Norway)

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

 

Cybersecurity Insurance Market 2023 - Global Industry Research Update, Future Scope, Size Estimation, Revenue, Pricing Trends, Regional Outlook and Forecast to 2030

Cybersecurity Insurance Market is projected to grow from USD 10.3 billion in 2023 to USD 17.6 billion by 2028, at a CAGR of 11.4% during the forecast period. The rise in cyber threats, such as data breaches, ransomware, and phishing attacks, has driven the demand for cybersecurity insurance as organizations seek financial protection against potential losses.

Browse 516 market data Tables and 43 Figures spread through 386 Pages and in-depth TOC on "Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Compliance Requirement, End User (Technology & Insurance) and Region - Global Forecast to 2028"

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Based on insurance type, the standalone segment holds the largest market and highest CAGR during the forecast period.

The demand for dedicated cybersecurity insurance policies and the need to mitigate the risks associated with "silent cyber" have led to the increasing popularity of standalone cybersecurity insurance policies. These standalone policies are projected to surpass packaged cybersecurity insurance policies regarding market growth. Organizations are increasingly concerned about cyber risks and seek specialized coverage solely for cyber risk protection, driving the demand for standalone cyber policies. Insurance providers such as AIG, Lloyd's, and Allianz are embracing affirmative cyber and witnessing the growth of standalone policies. These policies are designed to address more complex cyber risks compared to packaged cybersecurity insurance. For example, AIG offers its clients a comprehensive cybersecurity insurance package that includes traditional property and casualty policies and a standalone CyberEdge policy. The CyberEdge policy provides policyholders with a broader range of security protection than the packaged endorsement. Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.

Based on insurance provider end users, healthcare & life sciences is projected to register the highest CAGR during the forecast period.

The healthcare industry faces various challenges, including regulatory fluctuations and the ever-evolving landscape of cyberattacks and breaches. Compliance with privacy and data security regulations such as HIPAA and HITECH necessitate the reliance of healthcare organizations on cybersecurity insurance policies to cover penalty fees. The COVID-19 pandemic has exacerbated cyber threats, with healthcare organizations experiencing increased attacks like ransomware and misinformation campaigns. Cybersecurity insurance is a crucial safeguard for healthcare providers, offering financial protection against cybercrimes, ransomware, data breaches, and other cybersecurity incidents.

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Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Asia Pacific, an emerging economy, is projected to achieve the highest CAGR in the cybersecurity insurance market during the forecast period. Countries in the Asia Pacific region, such as China, Japan, ANZ, and Singapore, are highly concerned about rising security spending due to increasing cyber threats. With its strong government regulations and technological advancements, Asia Pacific presents promising growth opportunities for the cybersecurity insurance market. Insecure interfaces, data breaches, and data losses are top cybersecurity risks in the region, fueled by rapid connectivity and digital transformation. Asia Pacific faces an 80% higher risk of cyberattacks than other regions. Increasing regulatory measures are expected to drive the demand for cybersecurity insurance. Zurich Insurance predicts significant market growth in APAC, with leading players like AIG, Allianz, Chubb, and Zurich operating in the region.

Market Players

The major vendors covered in the cybersecurity insurance market include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Cylance (US), Trellix (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). The insurance vendors covered in the cybersecurity insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), Coalition (US), Resilience (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), Ivanti (US), SafeBreach (US), and Cronus Cyber Technologies (Israel).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Cybersecurity Insurance Market Capacity, Production, Growth Rate, Revenue and Forecast (2023-2030)

According to a research report Cybersecurity Insurance Market is projected to grow from USD 10.3 billion in 2023 to USD 17.6 billion by 2028, at a CAGR of 11.4% during the forecast period. The rise in cyber threats, such as data breaches, ransomware, and phishing attacks, has driven the demand for cybersecurity insurance as organizations seek financial protection against potential losses.

Browse 516 market data Tables and 43 Figures spread through 386 Pages and in-depth TOC on "Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Compliance Requirement, End User (Technology & Insurance) and Region - Global Forecast to 2028"

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47709373  

Based on insurance type, the standalone segment holds the largest market and highest CAGR during the forecast period.

The demand for dedicated cybersecurity insurance policies and the need to mitigate the risks associated with "silent cyber" have led to the increasing popularity of standalone cybersecurity insurance policies. These standalone policies are projected to surpass packaged cybersecurity insurance policies regarding market growth. Organizations are increasingly concerned about cyber risks and seek specialized coverage solely for cyber risk protection, driving the demand for standalone cyber policies. Insurance providers such as AIG, Lloyd's, and Allianz are embracing affirmative cyber and witnessing the growth of standalone policies. These policies are designed to address more complex cyber risks compared to packaged cybersecurity insurance. For example, AIG offers its clients a comprehensive cybersecurity insurance package that includes traditional property and casualty policies and a standalone CyberEdge policy. The CyberEdge policy provides policyholders with a broader range of security protection than the packaged endorsement. Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.

Based on insurance provider end users, healthcare & life sciences is projected to register the highest CAGR during the forecast period.

The healthcare industry faces various challenges, including regulatory fluctuations and the ever-evolving landscape of cyberattacks and breaches. Compliance with privacy and data security regulations such as HIPAA and HITECH necessitate the reliance of healthcare organizations on cybersecurity insurance policies to cover penalty fees. The COVID-19 pandemic has exacerbated cyber threats, with healthcare organizations experiencing increased attacks like ransomware and misinformation campaigns. Cybersecurity insurance is a crucial safeguard for healthcare providers, offering financial protection against cybercrimes, ransomware, data breaches, and other cybersecurity incidents.

Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=47709373  

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Asia Pacific, an emerging economy, is projected to achieve the highest CAGR in the cybersecurity insurance market during the forecast period. Countries in the Asia Pacific region, such as China, Japan, ANZ, and Singapore, are highly concerned about rising security spending due to increasing cyber threats. With its strong government regulations and technological advancements, Asia Pacific presents promising growth opportunities for the cybersecurity insurance market. Insecure interfaces, data breaches, and data losses are top cybersecurity risks in the region, fueled by rapid connectivity and digital transformation. Asia Pacific faces an 80% higher risk of cyberattacks than other regions. Increasing regulatory measures are expected to drive the demand for cybersecurity insurance. Zurich Insurance predicts significant market growth in APAC, with leading players like AIG, Allianz, Chubb, and Zurich operating in the region.

Market Players

The major vendors covered in the cybersecurity insurance market include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Cylance (US), Trellix (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). The insurance vendors covered in the cybersecurity insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), Coalition (US), Resilience (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), Ivanti (US), SafeBreach (US), and Cronus Cyber Technologies (Israel).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

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Artificial Intelligence Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Demand and Upcoming Trend by Forecast to 2030

According to a research report Artificial Intelligence (AI) Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period, to reach USD 1,345.2 billion by 2030 from USD  150.2 billion in 2023. The adoption of artificial intelligence (AI) technology has been remarkable since its introduction, leading to significant growth in the global market.

This growth attributed to the increasing demand for artificial intelligence technologies across diverse industry verticals. Organizations are recognizing the transformative potential of artificial intelligence in improving operational efficiency, enhancing customer experiences, and driving innovation. Artificial Intelligence technology such as machine learning, natural language processing, computer vision, and others are revolutionizing various sectors, including healthcare, finance, manufacturing, and retail. The advancements in AI algorithms, computing power, and data availability are further fueling the growth of the AI market, as businesses seek to leverage the potential of AI to gain a competitive edge in the digital era.

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As per verticals, the healthcare & life sciences segment to grow at highest CAGR during the forecast period

The artificial intelligence market is segmented on verticals into retail & eCommerce, BFSI, Government & Defense, Healthcare & Life Sciences, Telecom, Energy & Utilities, Manufacturing, Agriculture, IT/ITeS, Media & Entertainment, Automotive, Transportation and Logistics and other verticals (Construction, education, and travel and hospitality). As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. This industry is experiencing significant growth and is poised to contribute significantly to the global artificial intelligence market. Artificial intelligence applications in healthcare & life sciences includes patient data and risk analysis, medical imaging and diagnostics, precision medicine, drug discovery, and much more. The use of electronic medical records has led to the expansion of patient data, while the risk analysis market benefits from artificial intelligence systems' risk management and predictive analytics capabilities for payers and healthcare providers. These advancements in artificial intelligence technology are driving innovation and transformation within the healthcare sector.

By business function marketing and sales accounts to hold the largest market size during the forecast period

As per business function, marketing and sales segment to hold the largest market size for the artificial intelligence market during the forecast period. With the aid of AI-powered algorithms, businesses personalize their marketing campaigns, target the right audience, and deliver relevant content at the optimal time. Artificial intelligence also enhances sales processes by providing predictive analytics, lead scoring, and automated customer support through chatbots. Furthermore, artificial intelligence enables advanced data analytics and segmentation, optimizing sales funnels and improving conversion rates. The adoption of artificial intelligence in marketing and sales is reshaping how businesses engage with customers, optimize their strategies, and drive revenue growth.

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As per region, Asia Pacific is anticipated to growth at the highest CAGR during the forecasted period

As per region, Asia Pacific is anticipated to grow at the highest CAGR during the forecasted period. The adoption of artificial intelligence (AI) in the Asia Pacific region is experiencing significant growth. With advancements in technology, increased digitalization, and a focus on innovation, businesses and governments in Asia Pacific are embracing artificial intelligence solutions across various sectors. Additionally, the availability of skilled talent and robust infrastructure further fuels the growth of artificial intelligence across the region. As a result, Asia Pacific is emerging as a hub for AI innovation and implementation.

Some of the major artificial intelligence market vendors are Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel).

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