The cyber security landscape presents new challenges and threats, with the projected number of global IoT-connected devices expected to exceed 75 billion by 2025.
By the end of next year, cyber-attacks are expected to cost the global economy over $10.5 trillion, highlighting the urgent need for security operations advancements.
This blog will explore 13 cybersecurity trends in the evolving cybersecurity landscape for the new year.
In today's security industry forecast, digital threats are increasing in volume, breadth, and complexity, and incorporating cyber security preparedness is vital.
To effectively understand and mitigate diverse cyber attacks, deploying multi-layered cybersecurity solutions and understanding cyber threat intelligence are very important for businesses of any size.
Here are cybersecurity predictions and trends that must be watched in 2024.
In 2024, the zero-trust security model is expected to become the default security approach for many organizations. The increase in sophisticated cyberattacks, the rise of remote work, and the widespread adoption of cloud services drive this shift. Implementing zero trust involves moving away from traditional perimeter-based security and adopting identity-centric models.
The evolution of zero trust goes beyond a purely technical model by incorporating continuous, AI-driven, and real-time authentication and activity monitoring, highlighting its comprehensive and adaptable nature as a security approach.
Continuous Threat Exposure Management, CTEM, is a cybersecurity process that uses attack simulations to mitigate threats. It is becoming increasingly important among other cybersecurity innovations, enabling organizations to proactively manage their threat exposure.
According to Gartner, organizations prioritizing security investments with a continuous exposure management program can reduce the breach potential by three times.
Unlike vendor-specific technologies or tools, CTEM provides a systematic approach for organizations to prioritize threats and corresponding remediation efforts, especially as the attack surface expands.
AI revolutionizes the future of cybersecurity trends both as an asset and a concern for businesses and individuals. AI's role in cybersecurity will expand to include automated responses and predictive security analytics, enhancing threat detection and incident response.
While it has become an essential tool for mitigating cybersecurity threats, a growing number of cybercriminals use AI's power to craft sophisticated attacks.
This year, there is an expected increase in AI-powered attacks, such as deepfakes and malware, that bypass traditional security measures.
The threat landscape in recent years has seen increased attacks on Software-as-a-Service (SaaS) applications and a rise in automated scanning for weaknesses in cloud infrastructure. As reliance on cloud services continues to grow, we can expect the popularity of cloud jacking in cyber threats forecast.
Cybercriminals aim to exploit vulnerabilities in cloud systems by using tactics, such as phishing or stolen credentials. Once they gain unauthorized access, attackers can steal data, implant malware, or disrupt services.
More than 50% of Chief Information Security Officers (CISOs) will integrate human-centric design principles into their cybersecurity programs to minimize operational challenges and maximize the adoption of security controls.
This human-centric approach in cybersecurity prioritizes the individual employee and their experience, promoting better practices while reducing friction and risk. Organizations can mitigate the risk of data breaches and other cyber attacks by incorporating human-centric security design into their operational practices.
Data localisation involves storing data within a specific geographic location or jurisdiction. While data localisation can help organizations comply with local data protection laws, it can also create obstacles to integrated management of cybersecurity risks, reduce the effectiveness of purchasing cybersecurity-related services, and systematically disrupt information sharing.
According to a report by CSIS, data localisation can affect cybersecurity by reducing access to the best tools where localisation requirements are instituted, thereby making regions with these requirements a target for cybercriminals because of their weakened security.
Supply chain attacks have experienced a significant increase, with a 633% rise in 2022 alone, making them a noteworthy aspect of cybersecurity trends.
Supply chain attacks can lead to operational disruption, financial losses, regulatory penalties, and damage to reputation. The most significant impact is the vulnerability of multiple organizations relying on the same supplier, making these attacks powerful and dangerous.
The interconnectedness of global markets amplifies the repercussions, potentially causing widespread national or cross-border consequences.
Microsegmentation is a modern cybersecurity trend that has become popular due to the shift towards distributed corporate networks and remote employees. It is a network security technique that uses adaptive security measures, leveraging virtualisation technology to create more specific and secure network zones.
By implementing focused security policies, microsegmentation goes beyond identifying IP addresses and allows users to access only the necessary applications and data based on their identity and role. This approach restricts the movement of threats within a network and decreases the potential attack surface, ultimately enhancing an organization's overall security posture.
The increasing amount of cyber crimes constantly threatens companies, putting them at risk of data breaches, ransomware attacks, and other cybersecurity incidents. While cybersecurity tools and solutions can help protect companies and prevent breaches, cyber insurance is essential for organizations wanting to manage their cyber-attack risk.
Cyber insurance minimizes a company's financial liability for damages caused by a cybersecurity attack, reducing potential consequences of such an event. It serves to mitigate the growing cyber risks associated with conducting business online.
As 5G networks become more common, it is one of the emerging security challenges to consider. By 2024, there will be a greater focus on dealing with the specific cybersecurity risks of 5G. These risks include bigger targets for attacks, possible weaknesses in IoT devices, and the need for strong encryption to protect data sent over these fast networks. Businesses that rely on remote and mobile work must stay alert and carefully watch out for these risks.
The trend of Bring Your Own Device (BYOD) continues to grow as remote work becomes more prevalent. Employees increasingly use their personal devices for work-related tasks, providing flexibility and convenience but posing security risks.
In 2024, the use of BYOD and mobile devices is expected to increase further. Finding the right balance between employee productivity and data protection is the challenge. Organizations will need to adopt strong mobile device management (MDM) solutions and enforce security policies to safeguard sensitive corporate data on these devices.
Cryptojacking is becoming an increasingly popular method for cybercriminals to monetise an intrusion, in addition to ransom demands and data extortion. The number of cryptojacking incidents has increased more than fourfold compared to 2020, as reported by CrowdStrike.
Cryptojacking involves the unauthorized use of a system's resources to mine cryptocurrency, which can be done via installation of malware or by injecting malicious code into a webpage.
Staying updated on automotive technology trends is vital for ensuring the security of connected vehicles in the digital age. As cars become increasingly connected, they also become vulnerable to cyberattacks. Automotive security trends are addressing these challenges.
Encryption is key in automotive hacking, protecting data transmitted between the car and external systems. It ensures the confidentiality and protection of sensitive information. Authentication mechanisms, including advanced biometric and multi-factor authentication technologies, verify user identity and prevent unauthorized access to vehicle systems.
As we enter 2024, the convergence of technology and cybersecurity presents challenges and possibilities. Individuals and organizations must embrace innovative solutions, stay updated on emerging threats, and cultivate a cybersecurity-aware culture.
At Logsign, we provide a smooth solution for your cybersecurity requirements and a unified security operations platform for your organization. By taking proactive measures to tackle these trends, we can collaboratively construct a more secure and resilient digital future.
With our expertise, we help your company plan future security strategies, maintain security against cyber threats, and continuously monitor your network without additional integration.
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