In 2022, cybersecurity threats were on the rise. More and more organizations have digitalized their operations and adopted new technologies to improve operational efficiency.
At the same time, hackers, scammers, and other malicious criminals also upped their game and unlocked new techniques to steal precious data and hijack business operations.
As a result, the industry is witnessing a new stock of future cybersecurity threats expected to shape the market landscape in 2023 and beyond.
In this article, we’ll talk about the upcoming major trends in the cybersecurity industry so you can mitigate your risks and respond to future threats.
Here’s what 2023 is going to look like for us…
Economic uncertainty
The tech sector has transformed immensely in recent years. Advancements in tech played a huge role in this transition by unlocking new fields and technologies for professionals to build their careers on.
However, due to rising interest rates, inflation, and other factors fueling economic and geopolitical uncertainty, industries are expected to face additional security risks in 2023.
Unfortunately, cybersecurity may not be immune to the recession, and budget cuts alongside economic uncertainty will leave businesses vulnerable to cyberattacks.
Fortunately, many forward-thinking companies invest heavily in security technologies and solutions to minimize security risks. Read more to learn how virtual private networks can help you minimize security threats in 2023.
Zero trust adoption
“Zero trust” has become a trending buzzword in the IT industry in recent years. However, in 2023, you can expect to hear more about this security framework that requires every internal and external network user to be authorized or authenticated at every stage of their digital interaction.
According to Gartner, more companies are employing the zero-trust approach to stop relying on security perimeters and trusted identities. As of 2023, the growth of zero-trust security is set to rise from 31% to 36%.
One of the main drivers of this trend is the rise of remote and hybrid work, which has increased the risk of phishing, spoofing, and other social engineering threats. In Q4 2022, phishing attacks rose by nearly 61% from the previous year.
In 2023, the number of attacks is expected to grow even more unless small businesses join the zero-trust bandwagon and upgrade their devices, networks, and infrastructures with this technology.
Supply chain attacks
As the eCommerce industry continues to expand, companies are increasingly relying on long and complex supply chain processes to manage their inventories and distribution.
As a result, they’re leaving more gaps for criminals to exploit and disrupt different processes. Suppliers and vendors are at equal risks since most third parties have backdoors in their software and networks for hackers to walk through.
To combat these issues, companies are hiring more IT staff. Unfortunately, the demand for security professionals is outpacing supply, leading to more attacks.
Due to this trend, outsourced security companies are becoming an alternate solution to in-house teams.
In other words, companies are now opting for point solutions from security vendors to minimize their supply chain security gaps.
Most of these vendors offer different security solutions. Hence, companies can benefit from diversified expertise to build a robust security architecture with powerful barriers at every touchpoint.
More cyber threats for small businesses
According to McKinsey, small businesses are expected to incur financial damages exceeding $10.5 trillion annually by 2025. As a result, there’s a greater urgency in the market to invest in enhanced cybersecurity solutions and experienced talent to keep threats at bay.
However, economic uncertainty makes it increasingly difficult for small businesses to find the money to procure the resources they need to protect their digital assets.
Moreover, cybercriminals take full advantage of the situation. They focus on small businesses instead of targeting giant enterprises with advanced security protocols.
The human factor
Experts claim that humans are the biggest weak link in modern IT infrastructures.
Even highly trained professionals are prone to opening phishing emails, downloading malicious applications, and not doing due diligence when accessing the internet.
With social engineering attacks becoming more sophisticated, the human factor is becoming an even bigger concern.
Therefore, to prevent serious incidents, businesses are investing heavily in security audits and advanced training initiatives to prevent teams from compromising data unintentionally.
Wrapping Up
According to the US Small Business Administration, many small businesses are just one cyberattack away from being forced to seize operations indefinitely.
Therefore, staying updated on the latest cybersecurity trends will help you ensure you have the tools, expertise, and strategies to mitigate any threat trying to exploit your system and steal your valuable data and resources.
