UAE Cyber Insurance Market Size, Growth, Share, Competitive Analysis and Future Trends 2028: MarkNtel Advisors

Market Insights

As per recent research by MarkNtel Advisors, The UAE Cyber Insurance Market is anticipated to grow at a CAGR of around 25.6% during the forecast period, i.e., 2023-28.

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Key Driver: 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.

Market Segmentation and Consumer Behavior:

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

By End-User

BFSI
IT & Telecom
Defence
Energy & Power
Retail
Healthcare
Others

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UAE Cyber Insurance Market Geographical Analysis:

By Country:

Dubai
Abu Dhabi
Sharjah
Rest of UAE

Key Players and Competitive Strategies in the UAE Cyber Insurance Market

Several prominent players dominate the UAE Cyber Insurance Market, including:

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

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Questions Addressed in this Study

1.What factors are driving the UAE Cyber Insurance Market growth?

2.How is the UAE Cyber Insurance Market expected to grow over the next five years?

3.What are the key insights into the current trends in the UAE Cyber Insurance Market?

4.What is the current size of the UAE Cyber Insurance Market, and how is it projected to change in the future?

5.What is the future outlook for the UAE Cyber Insurance Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.