Market Snapshot:
Cyber Risk Quantification also known as CRQ is a process to evaluate the potential on financial impact of a cyber threat. The Cyber Risk Quantification process is more than assigning each cyber risk critically rating. It make this classification model unique in the consideration of financial risk. After quantifying the cyber risks the professional make informs about which cyber risk is threat. The Cyber Risk Quantification risk model bridges the gap between management and security professionals, helping stakeholders appreciate the value of their security investments without requiring prolonged explanations of esoteric.
Highlights from Cyber Risk Quantification Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The key Players profiled in the report are Metricstream (United States), SecurityScorecard (United States), Balbix (United States), SAFE Security (United States), Optiv (United States), C-Risk (France), Kovrr (Israel), Axio Global (United States), Protiviti (United States) and Risklens (United States). Additionally, other players that are part of this comprehensive study are PWC (United Kongdom), Bitsight (United States), Oliver Wyman (United States) and Cybersaint (United States).
Geographic Breakdown and Segment Analysis
The Global Cyber Risk Quantification market presents a comprehensive analysis of the Cyber Risk Quantification market by end-user/application (Cyber insurance, Cyber Security Return on Investment and Software Mitigation Costs), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Cyber Risk Quantification industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Cyber Risk Quantification market
Analyst at AMA have segmented the market study of Global Cyber Risk Quantification market by Type, Application and Region.
Influencing Trend:
Uses of Artificial Intelligence in Cyber Risk Quantification and Rapid Adoption of IoT Based System all Over the World
Market Growth Drivers:
Increasing Demand in Cyber Attack Solutions, Increasing Demand in Insurance Firms and Increasing Demand in Banking and Government Sectors
Challenges:
Complications in Providing an Accurate Wealth Information, Risk of Hacking and Lagging, Lack of Professional Expertise and Difficulty in Facing Software Vulnerabilities
Restraints:
High Cost Associated with the Quantification Process and Lengthy and Time Consuming Quantifying Process
Opportunities:
Innovation of Fifth Generation (5G) Technology and Growth in Information Technology Industry
On 14 December 2021, Metricstream, The Global Market Leader In Integrated Risk Management (IRM) And Governance, Risk, And Compliance (GRC), Announced New Native Capabilities For Advanced Cyber Risk Quantification And Simulation To Measure Cyber Risk In Monetary Terms, Along With Intuitive Risk Assessments, Expanded Compliance Risk Management Capabilities, And Enhanced Visibility Into Third And Fourth-Party Risks. Enterprise And Mid-Size Businesses Need Intelligent Tools To Measure, Manage, And See Risk Holistically, Gaining Valuable Insights To Make More Strategic Decisions. and On 26 April 2022, Securityscorecard, The Global Leader In Cybersecurity Ratings, Today Introduced Its Cyber Risk Quantification (CRQ) Capabilities That Will Enable Customers To Understand Cyber Risk In Financial Terms, Enabling Organizations To Bring Cyber Risk Into Holistic Business Risk Analysis, And Assisting Organizations In A Cost-Benefit Analysis Of Cyber Investment Options.
The market for Cyber Risk Quantification is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as service innovation and using various marketing strategies to gain a higher market share.
Key Target Audience
Cyber Risk Quantification Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others