As the Need for IT Security Heats Up, CrowdStrike Is Well Positioned to Dominate
Modern society is full of devices that could be hacked at any time. Whether from an iPhone, a work laptop, or even a smart home product, people are at risk every day of having important personal information stolen by virtual thieves. Infrastructure such as CRM systems, cloud computing, and artificial intelligence are important tools for businesses of all sizes. However, none of these investments will bear fruit unless they are secure. Large corporate data breaches like that at Equifax, as well as the "new normal" of working from home, have bolstered the need for increased cybersecurity protocols. Endpoint security is an important component of the broader cybersecurity umbrella and has traditionally been controlled by incumbent players such as Microsoft, Broadcom, and McAfee. New innovators such as CrowdStrike (NASDAQ: CRWD) have entered the endpoint security landscape and are gaining market share at a staggering pace. Let's dig in and see if CrowdStrike is poised to dominate cybersecurity and how it stacks up against the competition.
Image source: Getty Images.
Companies of all sizes are investing heavily in different software systems and modules for their digital transformation efforts. Moreover, an increasing number of these tools are based in the cloud, which could benefit native cloud solutions such as CrowdStrike. According to a 2021 CIO survey performed by Morgan Stanley, roughly 25% of application workloads resided in public clouds in the fourth quarter of 2021, with the value forecast to increase to 44% by 2024. Additionally, security projects are the least likely of IT projects to get cut from company budgets, according to the survey.
Source Fool.com
