An old adage says death and taxes are the two things we can count on, but a few more could be added to this list in the 21st century. One of them is the critical need for cybersecurity. Every organization, from large corporations to school districts, is under threat. Breaches cost companies billions in remediation and lost productivity. Luckily, incredible cybersecurity providers like (NASDAQ: CRWD) are up to the challenge.

CrowdStrike's specialty is endpoint protection. Endpoints are anything that connects to a network, like desktop and laptop computers, phones, and many others. The number of endpoints multiplies in the modern world as people embrace remote and hybrid work and more devices harness the internet. But there's a catch: Endpoints are the source of 90% of cyberattacks. The need for protection is why CrowdStrike's annual recurring revenue (ARR) increased 42% year over year last quarter, even when companies are being careful with spending due to a potential recession.

The latest report from market research firm IDC shows CrowdStrike as the modern endpoint security market leader for the third straight year, claiming 18%. In comparison, rival Microsoft remains second at 16%. This $8.6 billion market is predicted to reach $20 billion by 2026. CrowdStrike has big plans to capitalize. 

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Source Fool.com