GCC Cyber Insurance Market, By Insurance Type; By Coverage Type; By Enterprise Size; By End User (Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, Others ); By Country; Trend Analysis, Competitive Landscape & Forecast, 2019-2030

List of Tables

GCC Cyber Insurance Market Size Set to Expand at Steady CAGR of 3.2% to Touch USD 156 Million by 2030

GCC Cyber Insurance Market is thriving due to increased incidences of cybercrime, regulatory compliance requirements, expanding digital transformation, enhanced corporate cybersecurity awareness, and demand for robust risk management solutions.

BlueWeave Consulting, a leading strategic consulting, and Market research firm, in its recent study, estimated GCC Cyber Insurance Market size by value at USD 125.8 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects GCC Cyber Insurance Market size to expand at a CAGR of 3.20% reaching a value of USD 155.9 million in 2030. GCC (Gulf Cooperation Council) Cyber Insurance Market is driven by the increasing frequency of cyberattacks, regulatory requirements for data protection, and rising awareness of cybersecurity risks. The growing digital transformation and adoption of cloud services across industries also boost demand for cyber insurance. Additionally, the need to mitigate financial losses from data breaches and cyber incidents, coupled with advancements in cybersecurity technologies, further propels market growth in the GCC region.

Opportunity - Increased regulatory requirements

GCC Cyber Insurance Market is experiencing growth driven by heightened regulatory requirements across the countries in Gulf Cooperation Council. Governments are implementing stringent data protection and cybersecurity laws to safeguard sensitive information and mitigate risks. Regulatory pressure compels businesses to adopt comprehensive cyber insurance policies to ensure compliance and financial protection against cyber threats. The evolving legal landscape fosters a greater demand for cyber insurance solutions, thus boosting the expansion of GCC Cyber Insurance Market.

Impact of Escalating Geopolitical Tensions on GCC Cyber Insurance Market

Escalating geopolitical tensions have heightened risks for GCC Cyber Insurance Market by increasing the frequency and sophistication of cyberattacks, often state sponsored. The escalation drives up demand for comprehensive cyber insurance coverage as organizations seek protection against potential financial losses from data breaches and cyberattacks. Insurers may face higher claims, leading to increased premiums and stricter policy terms. Additionally, geopolitical uncertainties can complicate risk assessment and underwriting processes, making it challenging to accurately price cyber insurance policies. The heightened threat landscape also necessitates enhanced security measures and compliance, further influencing market dynamics and driving growth in cyber insurance products tailored to address evolving geopolitical risks.

Large Enterprises Hold Major Share in GCC Market By Enterprise Size

By enterprise size, GCC Cyber Insurance Market is divided into SMEs and Large Enterprise segments. The large enterprises segment maintains the leadership position in GCC Cyber Insurance Market. The segment dominance is due to the higher volume of sensitive data and greater financial risks associated with larger organizations. Large enterprises often face more complex cyber threats and regulatory requirements, necessitating comprehensive insurance coverage. Therefore, they invest significantly in cyber insurance to mitigate potential financial losses and enhance their cybersecurity resilience.

Competitive Landscape

GCC Cyber Insurance Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include AIG (American International Group), Chubb, AXA XL, Allianz, Zurich Insurance Group, Marsh, AON, Beazley, Qatar Insurance Company, Saudi Arabian Insurance Company (SAIC), and Etisalat Digital. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in GCC Cyber Insurance Market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of GCC Cyber Insurance Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in GCC Cyber Insurance Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the Market.

Product Code: BWC24581

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. GCC Cyber Insurance Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Surge in Cyberattacks
  - 3.2.1.2. Increased Regulatory Requirements
  - 3.2.1.3. Growing Reliance on Technology
- 3.2.2. Restrains
  - 3.2.2.1. Limited Market Penetration
  - 3.2.2.2. High Insurance Premiums
  - 3.2.2.3. Data Sharing Concerns
- 3.2.3. Opportunities
  - 3.2.3.1. Development of New Products
  - 3.2.3.2. Focus on InsurTech Solutions
  - 3.2.3.3. Focus on SME Market
- 3.2.4. Challenges
  - 3.2.4.1. Cybercrime Landscape Evolution
  - 3.2.4.2. Limited Claims History
  - 3.2.4.3. Evolving Regulatory Landscape
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. GCC Cyber Insurance Market: Marketing Strategies

5. GCC Cyber Insurance Market Overview

5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Insurance Type
  - 5.2.1.1. Standalone
  - 5.2.1.2. Tailored
- 5.2.2. By Coverage Type
  - 5.2.2.1. First-party
  - 5.2.2.2. Liability Coverage
- 5.2.3. By Enterprise Size
  - 5.2.3.1. SMEs
  - 5.2.3.2. Large Enterprise
- 5.2.4. By End User
  - 5.2.4.1. Healthcare
  - 5.2.4.2. Retail
  - 5.2.4.3. BFSI (Banking, Financial Services, and Insurance)
  - 5.2.4.4. IT & Telecom
  - 5.2.4.5. Manufacturing
  - 5.2.4.6. Others (Government, Travel & Tourism)
- 5.2.5. By Countries
  - 5.2.5.1. Saudi Arabia
  - 5.2.5.2. UAE
  - 5.2.5.3. Qatar
  - 5.2.5.4. Bahrain
  - 5.2.5.5. Kuwait
  - 5.2.5.6. Oman

6. Saudi Arabia Cyber Insurance Market

6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Drug Type
- 6.2.2. By Channel
- 6.2.3. By End User

7. UAE Cyber Insurance Market

7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Insurance Type
- 7.2.2. By Coverage Type
- 7.2.3. By Enterprise Size
- 7.2.4. By End User

8. Qatar Cyber Insurance Market

8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Insurance Type
- 8.2.2. By Coverage Type
- 8.2.3. By Enterprise Size
- 8.2.4. By End User

9. Bahrain Cyber Insurance Market

9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Insurance Type
- 9.2.2. By Coverage Type
- 9.2.3. By Enterprise Size
- 9.2.4. By End User

10. Kuwait Cyber Insurance Market

10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
- 10.2.1. By Insurance Type
- 10.2.2. By Coverage Type
- 10.2.3. By Enterprise Size
- 10.2.4. By End User

11. Oman Cyber Insurance Market

11.1. Market Size & Forecast, 2019-2030
- 11.1.1. By Value (USD Million)
11.2. Market Share & Forecast
- 11.2.1. By Insurance Type
- 11.2.2. By Coverage Type
- 11.2.3. By Enterprise Size
- 11.2.4. By End User

12. Competitive Landscape

12.1. List of Key Players and Their Offerings
12.2. GCC Cyber Insurance Company Market Share Analysis, 2023
12.3. Competitive Benchmarking, By Operating Parameters
12.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

13. Impact of Escalating Geopolitical Tensions on GCC Cyber Insurance Market

14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

14.1. AIG (American International Group)
14.2. Chubb
14.3. AXA XL
14.4. Allianz
14.5. Zurich Insurance Group
14.6. Marsh
14.7. AON
14.8. Beazley
14.9. Qatar Insurance Company
14.10. Saudi Arabian Insurance Company (SAIC)
14.11. Etisalat Digital
14.12. Other Prominent Players

15. Key Strategic Recommendations

16. Research Methodology

16.1. Qualitative Research
- 16.1.1. Primary & Secondary Research
16.2. Quantitative Research
16.3. Market Breakdown & Data Triangulation
- 16.3.1. Secondary Research
- 16.3.2. Primary Research
16.4. Breakdown of Primary Research Respondents, By Region
16.5. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

Product Code: BWC24581

List of Figures

Figure 1 GCC Cyber Insurance Segmentation
Figure 2 GCC Cyber Insurance Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 GCC Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 5 GCC Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 6 GCC Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 7 GCC Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 8 GCC Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 9 GCC Cyber Insurance Market Share, By Country, By Value, 2019-2030
Figure 10 Saudi Arabia Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 11 Saudi Arabia Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 12 Saudi Arabia Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 13 Saudi Arabia Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 14 Saudi Arabia Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 15 UAE Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 16 UAE Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 17 UAE Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 18 UAE Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 19 UAE Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 20 Qatar Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 21 Qatar Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 22 Qatar Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 23 Qatar Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 24 Qatar Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 25 Bahrain Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 26 Bahrain Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 27 Bahrain Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 28 Bahrain Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 29 Bahrain Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 30 Kuwait Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 31 Kuwait Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 32 Kuwait Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 33 Kuwait Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 34 Kuwait Cyber Insurance Market Share, By End User, By Value, 2019-2030
Figure 35 Oman Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Figure 36 Oman Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Figure 37 Oman Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Figure 38 Oman Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Figure 39 Oman Cyber Insurance Market Share, By End User, By Value, 2019-2030

List of Tables

Table 1 GCC Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 2 GCC Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 3 GCC Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 4 GCC Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 5 GCC Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 6 GCC Cyber Insurance Market Share, By Country, By Value, 2019-2030
Table 7 Saudi Arabia Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 8 Saudi Arabia Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 9 Saudi Arabia Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 10 Saudi Arabia Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 11 Saudi Arabia Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 12 UAE Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 13 UAE Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 14 UAE Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 15 UAE Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 16 UAE Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 17 Qatar Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 18 Qatar Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 19 Qatar Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 20 Qatar Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 21 Qatar Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 22 Bahrain Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 23 Bahrain Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 24 Bahrain Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 25 Bahrain Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 26 Bahrain Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 27 Kuwait Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 28 Kuwait Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 29 Kuwait Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 30 Kuwait Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 31 Kuwait Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 32 Oman Cyber Insurance Market Size, By Value (USD Million), 2019-2030
Table 33 Oman Cyber Insurance Market Share, By Insurance Type, By Value, 2019-2030
Table 34 Oman Cyber Insurance Market Share, By Coverage Type, By Value, 2019-2030
Table 35 Oman Cyber Insurance Market Share, By Enterprise Size, By Value, 2019-2030
Table 36 Oman Cyber Insurance Market Share, By End User, By Value, 2019-2030
Table 37 AIG (American International Group) Company Overview
Table 38 AIG (American International Group) Financial Overview
Table 39 Chubb Company Overview
Table 40 Chubb Financial Overview
Table 41 AXA XL Company Overview
Table 42 AXA XL Financial Overview
Table 43 Allianz Company Overview
Table 44 Allianz Financial Overview
Table 45 Zurich Insurance Group Company Overview
Table 46 Zurich Insurance Group Financial Overview
Table 47 Marsh Company Overview
Table 48 Marsh Financial Overview
Table 49 AON Company Overview
Table 50 AON Financial Overview
Table 51 Beazley Company Overview
Table 52 Beazley Financial Overview
Table 53 Qatar Insurance Company - Company Overview
Table 54 Qatar Insurance Company Financial Overview
Table 55 Saudi Arabian Insurance Company (SAIC) Company Overview
Table 56 Saudi Arabian Insurance Company (SAIC) Financial Overview
Table 57 Etisalat Digital Company Overview
Table 58 Etisalat Digital Financial Overview
Table 59 Other Prominent Players Company Overview
Table 60 Other Prominent Players Financial Overview

GCC Cyber Insurance Market, By Insurance Type; By Coverage Type; By Enterprise Size; By End User (Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, Others ); By Country; Trend Analysis, Competitive Landscape & Forecast, 2019-2030

Description

Table of Contents

List of Tables

Table of Contents

1. Research Framework

2. Executive Summary

3. GCC Cyber Insurance Market Insights

4. GCC Cyber Insurance Market: Marketing Strategies

5. GCC Cyber Insurance Market Overview

6. Saudi Arabia Cyber Insurance Market

7. UAE Cyber Insurance Market

8. Qatar Cyber Insurance Market

9. Bahrain Cyber Insurance Market

10. Kuwait Cyber Insurance Market

11. Oman Cyber Insurance Market

12. Competitive Landscape

13. Impact of Escalating Geopolitical Tensions on GCC Cyber Insurance Market

14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

15. Key Strategic Recommendations

16. Research Methodology

List of Figures

List of Tables