Companies are dealing with a fast-changing world of cyber threats. The bad actors causing these threats are getting smarter, especially with the use of AI. As technology evolves and businesses change, new things like different devices and software come into play, making the chances of cyber attacks higher. All these changes contribute to the cyberattacks that companies experience and the different ways they deal with and prevent them.
According to Statista, the global cybersecurity market is anticipated to garner a valuation of $273.60 billion by 2028, depicting a robust compound annual growth rate (CAGR) of 10.48% from 2023 to 2028. As the market continues to witness impressive growth, cybersecurity trends in 2024 are bound to become more intricate and multifaceted.
What’s New in Cybersecurity?
The increasing number of remote work positions has also raised concerns about security breaches, especially on an internet server like the cloud. Trends in cybersecurity strategies in 2024 would require companies to utilize artificial intelligence (AI) more securely.
On that note, let’s take a look at the top cybersecurity trends in 2024 that are emerging in the market:
Human-Centric Security Design Can Be Effective For Cybersecurity Strategy
Human-centric security design can improve overall security posture and minimize the chance that human error will result in a breach by placing a priority on the user experience and building security technologies that are clear and simple to use. Security leaders should invest in this strategy alongside more conventional technology-based measures.
Cloud Security is Becoming A New Trend
The growing usage of cloud services has created new security threats and issues that call for specialized solutions, which is why cloud security is one of the most anticipated 2024 cybersecurity trends. Organizations have to develop strong security measures to ensure data protection, prevent data breaches, and maintain compliance with applicable legislation as increasingly sensitive data and workloads migrate to cloud environments.
In the field of cloud security, ongoing developments are shaping cybersecurity trends in 2024. It already encompasses technologies and procedures like identity and access management, data encryption, network security, and cloud governance that are intended to protect resources that are hosted in the cloud. Looking ahead to cybersecurity trends in 2024, it becomes even more crucial for these experts to anticipate emerging threats, adopt innovative strategies, and leverage cutting-edge technologies to safeguard digital assets in an ever-changing landscape.
On June 6, 2023, Cisco demonstrated groundbreaking innovation for an AI-first security cloud, which will simplify the security operation and enhance efficiency. Cloud security is thus nowadays a key component of cybersecurity management for any company using cloud-based environments or services.
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5G to Be a More Security-Vulnerable Environment
5G, the high-speed alternative, brings with it a greater risk of data breaches and cyberattacks. Though 5G entered our lives to make smart devices more powerful, it also provided companies with more reasons to invest in cyber protection. As more and more businesses get in line to adopt 5G, focusing on these cybersecurity trends in 2024 is even more crucial.
Security breaches keep plaguing Internet of Things (IoT) devices, and 5G empowers IoT, making it even more vulnerable to cybersecurity breaches. Though 5G will significantly improve the performance and reliability of connected devices, it gives cybercriminals more power to take advantage of its highly advanced connectivity. This makes organizations more alert and careful, ensuring their cybersecurity protocols cover the broader scope of devices connected to 5G.
As we enter the world of cybersecurity in 2024, it is essential to note that every step deeper into the world of the 5G network will sprout a plethora of cyberattacks. To tackle threats being brought by the 5G network, manufacturers can begin to build stricter hardware and software to control any potential data breaches, even though it might be to a certain extent.
Cyberattacks in the Healthcare Sector
In the first half of 2022, phishing attacks surged by 48%, totaling 11,395 incidents and costing businesses $12.3 million. Research indicates that 40% of cyber threats are now originating from the supply chain. Additionally, ransomware attacks increased by 41% in 2022, and breach identification and remediation took an average of 49 days longer than usual. Notably in 2022, more and more hospitals invested in cybersecurity protocols to avoid data breaches. This, in turn, generated substantial growth for the cybersecurity market in the healthcare sector.
Considering the cybersecurity trends in 2024, the lookout for healthcare cybersecurity poses a huge threat to the data of patients while also jeopardizing the healthcare service provider. The ability to alter patient data can impact the service provided by the caregiver and the service received by the patients. Therefore, it is necessary to effectively protect the security of the healthcare sector with better encryption, backup mechanics, and improved data recovery systems.
Final Take on Cybersecurity Trends in 2024
As we delve into the future trends of cybersecurity, the landscape is ever-evolving, and looking ahead to 2024 reveals new challenges and emerging dynamics. With the increasing reliance on technology and the rapid advancements in artificial intelligence and the Internet of Things, the need for robust cybersecurity measures has never been more crucial.
In 2024, we can expect to see a surge in sophisticated cyber threats, targeting not only individuals but also businesses and governments. As hackers become more organized and well-funded, their attacks will become more targeted and difficult to detect. This calls for a proactive approach to cybersecurity, where organizations and individuals must stay ahead of the curve by implementing cutting-edge security solutions and adopting a comprehensive risk management strategy.