The remote lifestyle and accelerated digitization amid the COVID-19 pandemic led to an increasing number of ransomware attacks and generalized hacking, given the growing dependency on cloud computing. In addition, as the Russia-Ukraine war continues to escalate, cyber-attacks have become a real threat worldwide, highlighting the importance of advanced cybersecurity solutions.
Investors’ interest in the cybersecurity space is evident from the First Trust NASDAQ Cybersecurity ETF’s (CIBR) 20% returns over the past year. With the continuation of hybrid working, cybersecurity companies should witness steady demand for their products and solutions. According to Grand View Research, the global cyber security market is expected to grow at a CAGR of 10.9% until 2028.
