UAE Cyber Insurance Market Set to Surge with 25.6% CAGR by 2028, Driven by Growing Cyberattacks and Data Breaches

Dubai leads the UAE cyber insurance market owing to the rising establishment of businesses within the region, coupled with encouraging substantial investments in research and development endeavours. In addition to this, the intensifying number of cyberattacks, integration of digital technologies into day-to-day tasks, and the high risk associated with data loss are other primary components rising the demand for cyber insurance market across Dubai.

Key Takeaways from the Report

·        Historical Data: 2018–2021​

·        Base Year: 2022​

·        Forecast Period: 2023–2028​

·        Leading Segment: Standalone cyber insurance policies​

·        Leading Region: Dubai​

·        CAGR: 25.6%​

·        Market Size: USD values projected for 2028​

UAE Cyber Insurance Market Overview 2023-28

According to the recently published report 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. This flourishing growth is majorly driven by the rising incidence of cyberattacks among organizations, resulting in massive financial losses, paired up with ever-increasing requirements of enterprises to protect sensitive data from ransomware and malware.

UAE Cyber Insurance Market Segmentation Analysis 2023

The industry is further bifurcated into:

Based on Component:

·        Solution (Cyber Insurance Analytics Platform, Disaster Recovery & Business Continuity, Cybersecurity Solutions),

·        Service (Consulting/Advisory, Security Awareness Training, Other Services)

✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report. 

Get a Sample PDF of Report - https://www.marknteladvisors.com/query/request-sample/uae-cyber-insurance-market.html

Based on 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)

Based on Insurance Type:

·        Packed,

·        Standalone

Based on Organization Size:

·        Large Enterprises,

·        Small & Medium-Sized Enterprise

Based on End User:

·        BFSI,

·        IT & Telecom,

·        Defense,

·        Energy & Power,

·        Retail,

·        Healthcare,

·        Others

Explore the Complete Analysis Report – https://www.marknteladvisors.com/research-library/uae-cyber-insurance-market.html

Based on Country:

·        Dubai,

·        Abu Dhabi,

·        Sharjah,

·        Rest of UAE

UAE Cyber Insurance Market Dynamics

·        The rapid digitalization of businesses in the UAE has led to a significant increase in cyber threats, including data breaches and ransomware attacks. Sectors such as BFSI, healthcare, and retail are particularly vulnerable due to the sensitive nature of the data they handle.

·        The high cost associated with cyber insurance policies might hinder the growth of the market in the coming years.

·        Standalone cyber insurance policies are gaining traction, especially among SMEs, offering comprehensive coverage for expenses and liabilities arising from cyber incidents.

Leading Players in UAE  Cyber Insurance Market

Key companies operating in the UAE cyber insurance market include:

·        Lloyd,

·        Berkshire Hathaway,

·        AXA,

·        Allianz,

·        Assicurazioni Generali,

·        Munich Re,

·        Cyence,

·        PolicyGenius,

·        Safeshare

FAQs

Q: What is the projected growth rate of the UAE cyber insurance market by 2028?

A: The market is expected to grow at a CAGR of 25.6% during the forecast period.

Q: Which sector holds the largest share in the UAE cyber insurance market?

A: The BFSI sector currently holds the largest market share due to its high exposure to cyber threats.

Q: What are the key factors driving the growth of cyber insurance in the UAE?

A: Increasing cyber threats, digital transformation of businesses, and the need for data protection are primary drivers.

Q: How are emerging technologies influencing the UAE cyber insurance market?

A: The adoption of blockchain and AI is enhancing policy customization, risk assessment, and fraud detection.

Why MarkNtel Advisors

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.

For Media Inquiries, Please Contact:

Email: sales@marknteladvisors.com

Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511

Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301