Shearwater Group - Time To Lift Off?

Due to the increase in global threats, this cybersecurity business is beginning to step up its pace of action and becoming notable player within the sector.

The Shearwater Group (LON:SWG) yesterday stated that the continued growth of the global cyber-security market is supported by several key macro-economic trends that reinforce the need for its solutions.

It notes that the technological landscape is advancing at pace, with the rapid deployment of Artificial Intelligence (AI) and a significant increase in decentralised working practices and cloud-based systems, creating more areas of vulnerability for clients.

As a result, the number of cybersecurity breaches continues to rise, with 50% of all businesses and 74% of large businesses having experienced some form of cybersecurity breach or attack in the last 12 months.

As I reported yesterday, Reuters on Monday declared that cyberattacks have cost British businesses around £44bn in lost revenue in the past five years, with 52% of private sector companies reporting at least one attack in that time.