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Cybersecurity is a massive challenge. According to IBM's (IBM 2.25%) Cost of a Data Breach 2021 report, the average cost incurred for an organization that suffered a data breach event last year rose 10% to $4.2 million. A steady migration to cloud-based IT infrastructure and a hybrid workforce that spends significant amounts of time outside the office aren't making security any easier. As a result, cybersecurity is a big and fast-growing industry.
But picking the best cybersecurity stocks can be tricky. Cybersecurity is a large chunk of the technology space, and every sector of the economy needs software to help keep data and critical systems secure. There are a lot of companies operating in this niche, each with its own take on structuring a security platform. That's why investing in a cybersecurity ETF (exchange-traded fund) might make sense.
6 top cybersecurity ETFs for 2024
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