Estimated cyber insurance market growth rates in Europe 2020-2030

It is forecast that the European cyber insurance market will grow exponentially between 2020 and 2030, doubling in size between 2020 and 2025. On average, growth rates between each year are said to be around 20 percent. These high growth rates are not due to the ever-increasing reliance on data and technology in business operations, but also reflect the less-mature nature of the European market compared to the United States. Generally, cyber insurance is designed to protect businesses from risks arising from the use of data and technology in business operations.