Published on 12 Nov 2021 on Insider Monkey via Yahoo Finance
10 Best Cybersecurity Stocks Under $10
In this article, we discuss the 10 best cybersecurity stocks under $10. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Cybersecurity Stocks Under $10.
The cybersecurity market is one of the fastest-growing segments of the technology sector. Themes such as the Internet of Things (IoT), machine learning, and artificial intelligence are sparking innovation within the sector. According to a report by Mordor Intelligence, a market research firm, the cybersecurity market is expected to grow at a compound annual growth rate of close to 15% between 2021 and 2026, jumping from $156 billion in value to more than $352 billion, with smart cities expected to be the focus of new investments into the area.
The total spending on cybersecurity ventures in the past four years has been somewhere close to $1 trillion. A large part of this has been Fortune 500 companies, with giants like JPMorgan, Bank of America, and Microsoft spending hundreds of millions to protect their services every year. Even energy firms and pipelines operators, the subject of recent hacking attempts, are increasing spending on the sector. Previously, it is estimated that these firms spent only 0.2% of their budgets on cybersecurity.