As cybercrime becomes more sophisticated and widespread, Safehaven.com expects economic damage from cybercrime could exceed $6 trillion by 2021.
This means that businesses are poised to increase their spending on cybercrime prevention. By 2021, Safehaven.com estimates businesses will have spent $1 trillion on cybersecurity, opening up plenty of opportunities for investors.
Here are five companies making waves in the cybersecurity space that investors should keep an eye on.
1. IBM, which offers an integrated system of real-time defense, analytics, and response
2. Hill Top Security, a firm led by a number of ex-military and intelligence experts
3. Raytheon, a government contractor that operates in missile defense, aerospace and precision defense, in addition to cybersecurity and electronic warfare
4. Mimecast, a U.K.-based company that focuses on email and data security, specifically spear-phishing, malware, data leaks and downtime
5. CyberArk, an Israeli company that works to protect privileged accounts
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