Companies cannot afford not to spend on cybersecurity, which is why the market is growing at 12% a year, says Allianz Technology (ATT ) portfolio manager Mike Seidenberg. 

This is the fourth excerpt from our virtual event with Allianz Technology this month. You can watch the first, second and third excerpts, or the whole one-hour Big Broadcast.

Can’t watch now? Read the transcript

Mike Seidenberg:

Cybersecurity, in my opinion, is the best neighbourhood in technology. We’re living in a digital world and we are really forced to, not only as consumers but as businesses, we’re very present, which means we’re very vulnerable and therefore companies must invest in cybersecurity because of the adversaries. Not only do they change vectors of attack, they’re also incredibly well funded and this shows you any time I see a growth rate of almost 12% going through 2030, it’s just a unique situation.