With the increase in number of attempts to steal data and confidential information in past few years an increased volume of sensitive data is kept online with each passing day. This is not a small problem, it is a major issue of concern as with data increase, increases the opportunity of cyber threat on government bodies and private companies.
In a recent survey of Goldman Sachs, Chief Officer has revealed new facts like 60 percent of respondents expect increased security or boost spending on security at a hike of 5 percent.
The budgeted expenses also got increased to 20 percent as told by David Kostin who is a chief Information Security Officer to the clients. The bottom lines of offering a good cybersecurity have exploded.
Goldman’s ISE Cyber Security Index has shown reports which says that 30 cybersecurity companies which are publicly listed has shown a growth rate of 19% much better than S&P year-to-date and following the last few years development.
FireEye, CyberArk Software, Infoblox, Palo Alto Networks, Fortinet, and AVG Technologies are among those 30 companies that are making money due to increased number of cyber thefts.
Kostin told since 2011, the total return on index was 123pp greater than the S&P 500 which shows the stocks are beating the S&P matches with the number of files which got attacked in cyber-crime.
Sales for cybersecurity companies have seen a dramatic rise, growth of sales by 14% this year in the HXR index has been predicted by Consensus forecasts which is the median cybersecurity firm. The rise will support tech sector as well with increase in 4 to 6% and the S&P 500 which is 2 and 5% as told by Kostin.
The increase of cyber-attacks are threatening for everyday internet user , on June 5 the news of china based attackers accessed and reveled massive government data has fueled the fear of cyber-attacks.
Recent hack stories of Starbucks, Uber and TurboTax, Goldman Sachs report highlights has opened many eyes that were shut and relaxed of cyber security.
In 2014, 3014 data breach incidents took place across the worldwide revealing 1.1 billion records, with 97% of attacks were related to either hacking or fraud. Now till date the numbers have already jumped with an increase of 25% worsening the situation.
Cyber-attacks are increasing and getting seeped in to our systems with each passing day, we need more cyber-guards to keep their eyes and ears open and put a full stop on cyber-attacks ensuring a safe internet and cyber space. Cyber guards will definitely earn a huge amount for this service in future.
