It’s 2022 and we’re all online, all the time. Whether you’re a casual user who enjoys catching up with friends and family, or the head of a multinational conglomerate, whenever you use the Internet, you could potentially be exposed to cybersecurity threats. February 8th is Safer Internet Day, which was established to help us learn more about staying safe online.
What is Safer Internet Day?
The main objective of Safer Internet Day (SID), founded in 2004 by the EU SafeBorders project, is to “raise awareness of emerging online issues and current concerns.” The theme of this year’s edition of SID is “Together for a better Internet,” and it is dedicated to calling all stakeholders to join forces in making the Internet better and safer for everyone, especially children.
The importance of cybersecurity
Cybersecurity threats are all around us. We’ve all likely encountered cybersecurity attacks, be it an innocent-looking text message with a link asking us for our credit card information, or an email sent from a friend’s address meant to get us to transfer funds. We should all be aware of these threats and learn to protect ourselves against them.
On a larger scale, cybersecurity attacks can wreak havoc on businesses, and even governments. For example, in December, hackers attacked the Belgian Ministry of Defence, not only forcing parts of its systems to halt, but also affecting several software companies, including Microsoft and Amazon.
What you should know about the cybersecurity market
In 2020, the cybersecurity market was valued at $162.5 billion. It is predicted to reach $418.3 billion by 2028, with a 12.5% compound annual growth rate (CAGR). The annual costs of global cybercrime are estimated at $6 trillion, and individuals, corporations and governments are making significant investments in cybersecurity.
Spending on cybersecurity is expected to exceed $1.75 trillion by 2025. Cyberattacks might cost businesses millions of dollars, and with threats becoming more sophisticated and more technologically advanced, demand for cybersecurity solutions is extremely high. This sector, as well as the investment opportunities, are expected to keep growing.
Cybersecurity stocks to consider
The following stocks are worth checking out if you’re interested in investing in the booming cybersecurity market.
- Founded in 1982, international software company NortonLifeLock provides threat protection software and services to consumers and businesses around the globe and is currently valued at $14.9 billion.
- Check Point Software Technologies is a global software company that provides cybersecurity to businesses and governments. Founded in 1993, the firm is currently valued at $15.8 billion.
- With a market cap of 54.29 billion, VMware is a cloud computing company specialising in virtualisation solutions.
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