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The Covid-19 pandemic upended many businesses in 2020 that led to mass layoffs and budget-cuts. But cyber security is one of the few industries that remained largely immune to the downturn and also offered good returns on investment.
With more people working remotely and staying online for longer hours, there was also an increase in the users’ vulnerability to cyber attacks.
The cyber security market is forecast to be worth $363.05 billion in 2025, almost 125 per cent more than the amount spent last year, according to Mordor Intelligence, a research consultancy. The market is projected to grow at an annual growth rate of 14.5 per cent over the next five years.
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