With the most of our daily work and recreation being shifted to the online world, there are more chances of security breaches, data leakage, and similar hacker attacks, taking around 400 billion dollars in cyberattacks every year.
With the changing trends on the World Wide Web, there come the changes within trends in the market as well, pulling more investors towards the profitable industry that cybersecurity appears to represent.
Companies across the globe are hiring cybersecurity firms to obtain high levels of security to their online business and sensitive data, which is how the cybersecurity industry is profiting, making a substantial industry within the technological evolution.
How Cybersecurity Can Make a Profitable Investment in 2019
For starters, given the fact that the internet is packed with security threats, such as spam, viruses, malware, phishing, hack attacks, cyberstalking and similar forms of cyber dangers lurking from the shadows.
That is how many companies in the last several years are turning to hiring cybersecurity firms as a mandatory action within any business that cherish security, additionally bringing profit to cybersecurity companies.
Where there is an increased demand, there is also profit rolling out and tempting investors, which is how the reports are showcasing a major progress within this sector.
According to MarketsandMarkets, a market-research company, cybersecurity scored 152.71 billion dollars during the course of 2018, also expecting to see 248.26 billion dollars by the time 2023 arrives, which means that cybersecurity has a potential of almost doubling the total market cap in the course of the next 4 years.
The annual growth rate for the period between 2019 and 2023 is expected to be set at 10.2%, while slow downs in the industry aren’t expected despite the predicted recession said to be arriving in the US markets between the end of 2019 and the first quarter of 2020.