UAE Cyber Insurance Market Key Competitors: Who Will Lead the Industry in 2028?

Business
wasimark
January 10, 2025
2

MarkNtel Advisors analyses the growth rate of the UAE Cyber Insurance market in the forecast period from 2023 to 2028. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the UAE Cyber Insurance market, helping them make informed decisions.

Market Outlook – 2023-2028:

The UAE Cyber Insurance Market is anticipated to grow at a CAGR of around 25.6% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the increasing incidence of cyberattacks among organizations, resulting in massive financial losses, coupled with ever-increasing requirements of enterprises to protect sensitive data from ransomware & malware. Besides, the increasing adoption of advanced technologies like the IoT, AI, etc., coupled with technological advancements like next-generation as well as integrated security solutions and the rapid transition of businesses to cloud-based models, are other prominent aspects projected to stimulate the market expansion through 2028.

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Key Company Profiles

This report explores recent significant developments in the UAE Cyber Insurance Market, focusing on the leading companies and their innovative profiles. The major players in the UAE Cyber Insurance Market, featured in this report, include:

Lloyd
Berkshire Hathaway
AXA
Allianz
Assicurazioni Generali
Munich Re
Cyence
PolicyGenius
Safeshare

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Market Segmentation & Coverage

This research report by MarkNtel Advisors categorizes the UAE Cyber Insurance Market to forecast revenues and analyse trends across each of the following sub-markets:

By Component
- Solution
  - Cyber Insurance Analytics Platform
  - Disaster Recovery and Business Continuity
  - Cybersecurity Solutions
- Service
  - Consulting/Advisory
  - Security Awareness Training
  - Other Services
- By Coverage
  - First Party
    - Theft and Fraud
    - Computer Program and Electronic Restoration
    - Extortion
    - Forensic Investigation
    - Business Interruption
  - Third Party
    - Crisis Management
    - Credit Monitoring
    - Regulatory Response
    - Privacy and Security Liability
    - Network Security Liability
    - Media and Communication Liability
  - By Insurance Type
    - Packed
    - Standalone
  - By Organization Size
    - Large Enterprises
    - Small & Medium Sized Enterprise

Here, large enterprises account for the largest share in the UAE Cyber Insurance Market since they have a large volume of critical data stored in clouds & other storage areas.

By End-User
- BFSI
- IT & Telecom
- Defence
- Energy & Power
- Retail
- Healthcare
- Others
By Country
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE

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What are the primary factors driving the growth of the UAE Cyber Insurance Market?

Increasing Instances of Cyberattacks & Data Breaches in the UAE

The rapid digitalization in businesses across the UAE has resulted in an astronomical surge in the incidences of data breaches & cybercrimes. Many sectors like BFSI, retail, and healthcare are becoming the most attractive target for attackers due to the large volume of sensitive customer data within these sectors. Additionally, the increasing adoption of online shopping, mobile banking, Electronic Medical Records (EMRs) is another crucial aspect that proliferates the risk of data breaches in these industries. Hence, the increasing number of cybercrimes is likely to propel the demand for cyber insurance in the year to come.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?

About Us:

We are a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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