Einstein noted: “The world is a dangerous place to live, not because of the people who are evil, but because of the people who don’t do anything about it.”
For cybersecurity firms, doing something about it is their mission, and not an easy one at that. Preventing network breaches and intellectual property theft these days entails a lot more than sticking a firewall at the border of a network. Applications reside in the cloud. Employees bring their own devices to work. And all sorts of unconventional devices are coming online. On top of that, the volume of data traveling across networks continues to grow exponentially. As a result, network and data security requirements are more complex than ever and extend far beyond the corporate umbrella.
Driven by federal government initiatives, legislation and high-profile data breaches, cybersecurity spending will grow from $75 billion globally in 2015 to more than $100 billion by 2018, according to Gartner Group.
While well off their highs, cybersecurity valuations still appear rich as a multiple of near-term earnings (for those that even have earnings), but that misses the point. Early leaders are rationally spending heavily to grab share in what will be a large, high-margin market with a good deal of recurring revenue. If growth materializes as expected, expensive stocks will turn into bargains quickly. For the full article click here
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