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

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

Demand for Webgames Set to Shoot Up in Asia-Pacific in Coming Years

The global webgame market valuation will rise from $3.5 billion in 2019 to $6.5 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.7% between 2020 and 2030. Depending on genre, webgames are classified into sports games, real-time strategy games, massive multiplayer online roleplaying games (MMORPGs), arcade games, and first-person shooters. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/webgame-market-insights/report-sample Out of these, the popularity of first-person shooters will grow sharply across the world in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. These types of games are not like the third-person shooters, in which, the gamers can see the character which they are controlling. As these games are highly engrossing and thrilling, their popularity is soaring rapidly all over the world. Globally, the webgame industry is predicted to exhibit the...
Post a Comment
Read more

India Structured Cabling Market Technological Advancements, Evolving Industry Trends and Insights

A number of factors such as booming requirement for high bandwidth, escalating need for effective cable management, and surging data center sector are expected to drive the Indian structured cabling market at a CAGR of 11.5% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $508.0 million in 2020 and it is projected to reach $1,504.9 million by 2030. Moreover, the market is witnessing a trend of rapid digitization in India. One of the primary factors for the market growth is the burgeoning demand for high bandwidth, owing to the surging penetration of internet in Indian. Structured cabling enables high bandwidth, which has become a necessity for smooth operations in business organizations. This demand is rising at a rapid pace, owing to the high data transfer capability, flexibility, and low cost of the structured cabling. As it is the basis of efficient IT infrastructure, this type of cabling is getting attention from the government...
Post a Comment
Read more