Cybersecurity is still one of the hottest fields to work in, and not just because of ransomware and cryptocurrency hacks.
The Cybersecurity Almanac 2022, released by Momentum Cyber, is an extensive analysis that supplies strategic insights about the market. The almanac examines major developments in 2021 and how they may affect the view for 2022, based upon data from over 3,500 companies throughout the world.
According to the almanac, cybersecurity spending will more than double in 2022 compared to the previous year. 2021 was a record year for both investment, mergers and acquisitions as well as cybercrime. In total, $29.3 billion was bought equity capital and private equity funding across 1,042 arrangements, for an overall of $29.3 billion. There were 82 deals worth more than $100 million among them.
There were 286 strategic offers worth $77.5 billion, with 14 of them worth more than $1 billion. Security consultancy and MSSPs blaze a trail in deal counts, according to the almanac, while SecOps/ IR/ Hazard Intel saw the best YoY gain of any industry, at 171 percent.
It likewise covers the record number of going public (IPOs) and how worth indicates the significance of cybersecurity:
“With nearly 30 unicorns minted in 2021 vs 6 in 2020 and valuations at historic highs, the word “unicorn” is no longer reserved for a select few companies in Cyber. This past year saw a frenzy of IPO activity, with companies going public via traditional and SPAC procedures. KnowBe4, Darktrace, SentinelOne, Riskified, and ForgeRock were among the major IPOs, with gross IPO proceeds reaching $2.2 billion. Cybersecurity stocks outperformed the NASDAQ while staying in line with the S&P 500.”
Momentum Cyber and NightDragon Security’s Founder and Managing Director, Dave DeWalt, provided his thoughts: “We are going into a new period of cybersecurity danger, which is putting every commercial and government company’s defenses to the test. Defenders like us need to continue to purchase and support innovation in order to challenge this existential risk and make sure a safe and secure future for everyone.”
In 2022, the outlook for cybersecurity is bleak.
DeWalt talked about a few of the most important themes and concerns he expects will emerge in 2022. He identifies 6 elements of the market that customers must know:
In the foreword of the almanac, DeWalt also included the following quote:
“A perfect storm of elements is colliding to create the most aggressive threat landscape in history for commercial and government entities around the world,” says the report.”
What are the difficulties? Herjavec addresses four issues that businesses must deal with:
Herjavec goes on to say:
“You have to stay laser focused when driving a car over 200 miles an hour, and the same approach is required when growing a business in today’s world of rapidly changing technology.”