Cybersecurity Spending Set to Surge 73%: 1 Best-In-Breed Stock to Take Advantage

The cybersecurity industry is evergreen because most companies won't shut off their digital defenses just to save a few dollars. It can be tougher to land large contracts during economic downturns, but the top cybersecurity companies can usually offset that pressure by generating stable recurring revenue from their existing customers.That market should continue to expand as more frequent, complex, and devastating cyberattacks drive more organizations to boost their cybersecurity budgets. According to Forrester, global cybersecurity spending could surge from $174.8 billion in 2025 to $302.5 billion in 2029. The research firm expects that 73% annual increase to be driven by a growing need to secure new cloud-based deployments and emerging technologies like generative AI applications.There are plenty of ways to capitalize on that secular trend, but one "best in breed" stock stands out in that crowded market: CrowdStrike (NASDAQ: CRWD). Its stock price has already risen nearly 15 times from its IPO price of $34 in June 2019, but it could soar even higher over the next few years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool