Amid Market Turmoil, Cybersecurity Remains Of Interest

Despite Wall Street's recent highs and lows, investors are still looking to cybersecurity stocks for good buys as the sector is expected to continue growing. A spate of high-profile hacking attacks over the past year have been a wake up call for CEOs from every industry and now most firms are placing a much higher priority on network protection than ever before.

The Internet of Things (IoT) has been a major driver for cybersecurity investment. With everything from lightbulbs to automobiles boasting wireless connections, the entry points for hackers are abundant. A recent report showing that a Jeep Grand Cherokee's internal software could be remotely accessed has led car makers to consider better security protocols. Others are looking to the development of interconnected devices with a critical eye, saying that closer monitoring is needed in order to detect threats within a company. Each employee carries a risk upon entering a connected space with their own mobile phone or tablet, making the need for advanced protection systems even greater.

One of the greatest cybersecurity risks is government data. Several recent hacking attacks have proven that the government's data protection efforts are not keeping pace with the ever evolving world of cybercrime. In response to criticism of the government's network protection, the Department of Homeland Security recently

a $1 billion contract to

, which has been heavily investing in new technology to fight off hackers over the past year. The firm says its latest offerings are able to detect and "self-heal' vulnerable software as well as protect a range of operating systems all connected through the IoT.

Despite turmoil in sharemarkets across the globe, investors have shown no signs of backing away from the cybersecurity sector. This summer, security software company Tanium was

$120 million in funding despite investor panic resulting from market volatility in August. Because firms are willing to pay big bucks in order to adequately protect their networks, traders are eager to jump on board with the latest and greatest tech trend. Some caution that about a third of new cybersecurity startups are likely to fail, but others are willing to take the risk in the hopes of reaping the benefits from getting in on the ground floor of the next big thing.