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Aviva Inv UK Listed Small and Mid-Cap ’ s Charlotte Meyrick names three cyber security firms that are taking advantage of increased spending in this area
Data security and cyber analytics continue to move up the government and corporate agenda . Consultancy firm Gartner predicted that by the end of 2023 , 80 % of companies will fall under privacy data-protection regulations , leading to a heightened focus on data lifecycle management . A growing number of connected devices – due to greater e-commerce penetration , cloud data migration and working from home – means more opportunities for cyber threats . There is also an ESG angle to improved data lifecycle management as companies consider using IT assets to sustainably cut their environmental footprint .
NCC Group is a cyber security consultant that helps companies assess and manage cyber threats , without the fear of product obsolescence which often arises when discussing this technology . Cyber spending fell down the corporate agenda during Covid as firms prioritised balance sheet health , but it is now recovering . NCC reported that its assurance revenues grew from 8.8 % in the first half of its financial year to approximately 15 % in the second half . Having previously experienced growing pains , the company is now at the end of a selfhelp plan , with a new chief executive ready to build on much stronger foundations .
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