Cybercrime Fighters
With roughly one-third of U.S. workers operating remotely, there has been a surge in reported cyberattacks since the Covid-19 pandemic. The cost of global cybercrime has jumped more than fivefold from 2019 to 2021 [1] .
- Companies in the cyber solutions market are fighting cybercrime, creating a compelling investment opportunity in our view. In fact, the compound annual growth rate for cyber solutions is estimated to grow 19% over the next few years.
- According to a 2022 study by IBM, 83% of organizations said they’ve experienced more than one data breach. In response to these attacks, 60% of these companies raised prices on to customers due to higher costs, such as increased insurance premiums, supply chain disruptions, and intellectual property theft. Consequently, cybercrime has become one of the fastest growing security threats around the world, costing trillions of dollars each year.
- We believe the most promising solutions to defend and protect against cybercrime are those that leverage cloud computing at scale, which can adapt to highly sophisticated cyberattacks. These solutions can quickly process enormous amounts of data using machine learning and artificial intelligence, giving cybersecurity programs an edge. It is our view that the most successful companies are those that provide a suite of integrated offerings that are easily scalable via cloud-based infrastructure.
[1] Sources include Statista, National Cyber Security Organizations, FBI - Federal Bureau of Investigation, IMF
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