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Up, Up… But How Much? And How Fast? –
We dutifully share new market reports on the cyber insurance market size. According to a new MarketsandMarkets report , spending is expected to grow from $16.54 billion in 2025 to $32.19 billion by 2030, representing a compound annual growth rate (CAGR) of 14.2%. The authors cite market drivers such as rising cyber threats, expanding regulatory pressures and increased enterprise digitalization. This is one of several varying reports we’ve recently covered on the size of the cybersecurity insurance market, including this one from earlier this month that estimates it will grow from $10.37 billion in 2023 to $68.35 Billion by 2032, increasing at a CAGR of 22.90%.
Some Other Estimates of the Cyber Insurance Market’s Size
| Source | Estimated 2024–2025 Base | Forecast Year | Forecasted Market Size | CAGR |
|---|---|---|---|---|
| MarketsandMarkets | $16.5B (2025) | 2030 | $32.2B | 14.2% |
| Munich Re | $15.3B (2024) | 2030 | “More than double” | >10% |
| Fortune Business Insights | $20.9B (2024) | 2032 | $120.5B | 24.5% |
| IMARC/InsuranceAsia | $14.2B (2024) | 2033 | $73.5B | 17.9% |
| Market.us | $13.3B (2023) | 2032 | $62.7B | 18.8% |
| SkyQuest | $16.8B (2024) | 2032 | $71.8B | ~18% |
| InsuranceNewsNet | $13.1B (2024) | 2032 | $68.4B | 22.9% |
Reality Check on the Reports
The fact that the studies vary so much on the 2024 size of the market (from $13.1- to $20.9 billion) indicates a lack of clarity on actual spending. Some of these reports also do not appear to reflect other sources of data, including that behind claims that cyber insurance premiums actually dropped last year.
What’s the Bottom Line on the Cyber Insurance Market’s Size?
These reports and others tend to cluster around the following general metrics: current size of market somewhere around $16 billion+, growing between 10-20%. We believe this range to be generally right rather than precisely wrong. Or put another way, this is a large market with growth likely to outperform the general economy for some time.
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