A recent report by Bank of America focused on investment themes for a changing world. One of the areas that the report identified as a source of change is security. Bank of America analysts believe that societal advancements are producing new potential threats each year, and the business of protecting people from these threats will continue to boom in the future.
More than a million people die in car accidents each year, and more than two million people die at work annually. Workplace and auto safety are two of the areas of opportunity that analysts identify in the report.
Despite the much smaller number of deaths that come as a result of terrorist attacks (only about 15,000 per year), anti-terrorism security is a critical and thriving sector, as well.
Terrorism can take many forms, and analysts believe that cyber attacks now pose a greater risk to the financial world than traditional terrorist activities. For U.S. companies, the average cost of cyber attacks in 2013 was $11.6 million. Worldwide, cyber crime costs the global economy about $500 billion each year.
It’s not just money and data that is at risk from cyber attacks. Cyber-terrorists threaten to shut down or manipulate power grids and other infrastructure systems in an increasingly wired society.
Although it’s certainly not a new source of risk, analysts also mention threats posed by the deteriorating environment and potential new human, livestock or produce diseases.
The stocks that Bank of America recommends as a means to capitalize on the demand for modern security include the following:
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