Skip to main content

Growing Frequency of Data Breaches Boosting Cyber Insurance Policy Implementation

There has been an exponential rise in cyberattacks, due to the surging penetration of internet in every aspect of our lives. A large number of cases of breaching of personal data, such as social security numbers, email address, passwords, and credit card numbers, are being reported nowadays. Nearly 8 million cases of cyberattacks were reported between January 2019 and April 2020.

Owing to this reason, the cyber insurance industry will progress at 26.3% CAGR during 2020–2030. The market value is expected to reach $70,671.9 million by 2030 from $5,573.2 million in 2019. To contain the cases of data breaches, governments across the world are constantly implementing legislations pertaining to cybersecurity. High digitalization rate and easy connectivity have led to the emergence of cyber threats and vulnerabilities, which have an adverse impact on organizations.


In this regard, several administrations have mandated the implementation of cyber security measures to mitigate the risks associated with cybercrime. Higher penalties are being imposed by the governments for data breaches, due to the intensifying stringency of cybersecurity-related legislations. Currently, the healthcare sector is increasingly adopting cyber insurance services to deal with the rising incidence of cyberattacks.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/cyber-insurance-market/report-sample

These are causing financial losses and compromising data security in the rapidly transforming healthcare industry. Technological developments in this industry have exposed it to several cyber threats. In contemporary times, the healthcare sector has become a major target for cybercriminals, as the stolen protected health information (PHI) is valued at hundreds and thousands of dollars. The cybercriminals use PHI data to target victims with frauds and scams.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Labels:

Comments

Post a Comment

Popular posts from this blog

Power Electronics Market Analysis by Industry Segments, Share, Application, Development, Growing Demand, and Top Key Players

The expanding application pool of power electronics, the increasing utilization of renewable energy sources, and the rapid advancements in power electronics technology are the main factors driving the progress of the market across the globe. Additionally, the rising usage of power electronic devices in various utility applications and the growing demand for high power density in wind power generators, electric rail traction drives, solar power generators, and inverter systems are fueling the growth of the market. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/power-electronics-market/report-sample Power electronic devices make sure that power is supplied effectively, thereby providing high flexibility, reliability, and security to the power systems. Due to these devices, the already-existing electrical grids can be easily converted into next-generation networks. When end user is taken into consideration, the power electronics market is divided in...
Post a Comment
Read more

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

Rapid Digitization Pushing Up Demand for Cyber Security Solutions

The rising prevalence of data breaches is one of the major factors fueling the demand for cyber security solutions across the world. Data breaches are mainly caused because of weak passwords, improper configuration, complex access permissions, and malware attacks. Moreover, the rising focus of companies on shifting their complete databases to cloud networks is augmenting the occurrence rate of data breaches.  This is making the adoption of cyber security solutions extremely necessary. These solutions help organizations prevent the unauthorized access to data and sensitive information, detect threats and vulnerabilities early, and detect and analyze cyber attacks in real-time. The surging usage of mobile phones is another important factor propelling the requirement for cyber security solutions across the globe.  Mobile devices equipped with advanced capabilities and features allow users to access the internet, emails, global positioning system (GPS) navigation, and various oth...
Post a Comment
Read more