Top 10 Current Cybersecurity Trends: Staying Ahead of the Curve
The digital landscape is constantly evolving, bringing advanced technologies and more opportunities than ever before. However, as with any technology innovation, it also brings a myriad of cybersecurity threats. In order to protect your business in the face of growing threats, it’s essential to stay informed about the latest trends in cybersecurity, whether to be capitalised on, or safeguarded against.
In this blog, we’ll explore the top 10 current cybersecurity trends that are shaping the industry and discuss how they can each be addressed effectively.
Cloud Security
As more businesses transition to cloud-based services for data storage and processing, the need for robust cloud security measures has become paramount. In view of the shared security responsibility model, when it comes to working with cloud service providers, organisations must be vigilant when configuring cloud environments to ensure they’re not opening themselves up to attack.
According to a Gartner report, the worldwide public cloud services market is expected to grow by 18.4% within 12 months. This rapid growth highlights the importance of implementing stringent cloud security protocols to protect sensitive data from cyber threats. A good starting point is to conduct a cloud security review to regularly check cloud environments aren’t leaving you vulnerable to attack.
Application Security
With the prevalence of mobile devices and the increasing reliance on web applications, application security has become a crucial aspect of cybersecurity. In fact, 43% of cyberattacks are now targeting web applications, according to a Verizon Data Breach Investigations Report.
This underscores the importance of securing applications against vulnerabilities and potential exploits by cybercriminals. Applications must be ‘secure by design’. Regular web application penetration testing will identify vulnerabilities and support you in eliminating threats to your business.
Operational Technology
Operational technology (OT) encompasses systems and devices that monitor and control industrial processes, such as those found in manufacturing, transportation, and energy and critical national infrastructure sectors.
As these systems become increasingly connected to the internet, they become more vulnerable to cyberattacks. An industry survey found that 90% of organisations experienced at least one OT system breach in the past year, highlighting the urgent need for enhanced OT security.
Internet of Things (IoT)
The Internet of Things (IoT) has revolutionised the way we live and work, with an estimated 50 billion connected devices worldwide by 2030. However, is IoT a friend or a threat?
IoT devices often lack the security features found in traditional IT systems, making them prime targets for cybercriminals. An industry study revealed that 57% of IoT devices are vulnerable to medium- or high-severity attacks, emphasising the need for improved IoT security measures.
Learn more about how to protect your IoT devices against security threats.
Remote Working
There’s been a surge in remote working over the last few years, with many organisations adopting a flexible work-from-home or hybrid working policy.
While this has allowed flexibility into business operations, it has also increased the attack surface for cybercriminals.
A report found that 20% of organisations experienced a security breach due to remote working in 2020, as the COVID-19 pandemic took hold of countries worldwide. These attacks continue today, as we learn more about how to operate in a hybrid world. This highlights the need for robust cybersecurity policies for remote workers while we navigate these new ways of working.
Cyber Insurance
As we predicted at the end of last year, as cyber threats continue to evolve, cyber insurance has emerged as a crucial tool for businesses to manage and mitigate the financial impact of a cyberattack. However, with the increased reliance on cyber insurance, coupled with the increase in risk of attack, cyber insurance premiums are on the rise.
But is the rise in insurance premiums actually a good thing?
There’s an increasing awareness among businesses of the potential financial risks associated with cyber incidents. But they are looking for ways to control operating costs at the same time. Learn more about how an ISO 27001 certification can help to reduce cyber insurance premiums.
Zero Trust Network Access (ZTNA)
Gartner believes that Zero Trust Network Access (ZTNA) is the fastest-growing form of network security, set to grow by 31% in 2023 and completely replace VPNs by 2025.
ZTNA focuses on a “never trust, always verify” approach, which requires verification of all users, devices, and applications attempting to access a network. Learn more about this methodology, why organisations should be implementing a Zero Trust framework, and how ZTNA can help to minimise the risk of unauthorised access and data breaches.
Artificial Intelligence
Artificial intelligence (AI) is playing an increasingly important role in cybersecurity, with the huge hype around ChatGPT, with both pros and cons of ChatGPT in terms of cybersecurity. Machine learning algorithms are increasingly being used to detect and prevent cyber threats more effectively.
According to the Capgemini Research Institute, 69% of organisations believe that AI will be essential for responding to cyberattacks in the coming years, highlighting its growing significance in the cybersecurity landscape. As with any new technology, organisation must be mindful of the dark side of the new dawn of AI as well as its potential benefits. Cybercriminals are well known for exploiting new technologies for their own advantage.
Attack Detection Tools Are No Longer a Luxury
In today’s digital world, implementing attack detection tools has become a necessity rather than a luxury. Businesses in most sectors are experiencing a surge in cyberattacks. This is very true for the retail sector, who now consider an attack a matter of ‘when, not if’. Read more about how retailers can stay secure against increasing cyberattacks.
Advanced threat detection services and technologies, such as endpoint detection and response (EDR), security information and event management (SIEM), and network traffic analysis, are essential for organisations to quickly identify and respond to cyber threats.
More recently these tools have also been described under the relatively new term, Extended Detection and Response (XDR). Learn more here: What is XDR?
A report by MarketsandMarkets predicts the global security analytics market to grow at a CAGR of 15.6% to 2025, emphasising the increasing demand for effective attack detection solutions.
Outsourcing Cybersecurity to the Experts
As cyber threats become more sophisticated and complex, businesses are realising the benefits of outsourcing SOC and other managed detection and response services and cybersecurity needs to experts.
By partnering with managed security service providers (MSSPs), organisations can access the latest technologies and expertise without the need to invest in in-house resources.
The global managed security services market is expected to grow at a CAGR of 14.5% to 2025, according to a report by Mordor Intelligence, indicating a growing preference for outsourcing cybersecurity responsibilities.
By understanding and addressing these top 10 trends and challenges, businesses can better prepare themselves for the evolving cyber threat landscape. They can also ensure the security of their valuable data, networks and systems.
As cybercriminals continue to adapt and innovate, it is crucial for organisations to remain vigilant and proactive in their cybersecurity efforts, ultimately staying one step ahead of potential attackers.
Don’t hesitate to get in contact with a member of the team if you’re looking for any advice or support on your cybersecurity journey.
