6 Cybersecurity Trends You Need to Know
Cybersecurity “trend” information is everywhere. The value of staying on top of what’s trending is seeing the big picture and finding what should be a priority for your organization.
That’s why we’re highlighting research and sources that focus on six trends that stand out as most relevant to the c-level executives at our current and future clients.
These organizations represent medium-to-large-sized firms with 500+ employees, over $20M in annual sales that are headquartered anywhere within the US, but mainly in the central and eastern states.
Social Engineering & Targeted Executives
Verizon’s “2019 Data Breach Investigation Report” shared that 59 percent of 2018 data breaches in healthcare organizations were insider attacks – breaches caused by complicit or unwitting employee involvement. Across all industries, attacks utilizing insiders was 34 percent.
They also found that c-level executives have become a major focus for social engineering attacks. “Senior executives are 12x more likely to be the target of social incidents and 9x more likely to be the target of social breaches than in previous years—and financial motivation remains the key driver.”
Lastly, they found that ransomware attacks are still profuse, accounting for nearly 24 percent of incidents where malware was used.
IoT – From Managing Things to Information
A recent webinar by Gartner, “The Trends and Technologies That Will Drive the Future of IoT,” highlighted two areas important for cybersecurity programs.
AI will underpin the next decade of IoT and security AI tops the list.
IoT is moving from the “intelligent edge” to the “intelligent mesh.” There are more end points exchanging data than ever before. Beyond mobile phones, personal trackers, and smart speakers, there is machinery, equipment and tools, smart trucks, and inventory devices, as well as drones.
Interoperability, Third-Party Risk and 5G
As more businesses are required to show evidence of a security assessment, it’s natural that third-party security risks and compliance would become more essential. More than ever, organizations are expediting more connections with outside vendors and using those data connections for internal operations, but also when delivering products and services directly to consumers.
New wireless network technologies, like 5G, Backscatter, and LEO Satellite, will increase data vulnerability as it expands accessibility to more mobile and IoT devices.
Adoption of Specific Services and Strategies
The 2019 Global Cyber Security Market, released by iGate Research, points out that network security, Identity and Access Management (IAM) and Security and Vulnerability Management (SVM) are the top product segments by size and growth prospects.
- In 2017, IAM accounted for over 16 percent of the global market.
- By 2025, SVM is expected reach about 23 percent share.
- The industries utilizing the most cybersecurity services in 2017 included banking, financial services and insurance (BFSI) (22%), information and communications technology (ICT) (10%) and healthcare industry is likely to capture over 6% share by 2025.
According to the Verizon report, 33 percent of organizations they surveyed see a trend toward cybersecurity automation in 2019.
Intelligent automation, like Robotic Process Automation (RPA) is expected to increase for uses like incident detection, threat analysis and business continuity. Also, the use of predictive machine learning, and the application of data models, can enhance monitoring and security automation.
Supplementing with Managed Security Service Providers (MSSP)
Despite the fact that the global cyber security market is projected to exceed $177B by 2025, many organizations are citing a need for more data visibility, adequate professional staff, and current tools and technology.
In addition to complementing human cybersecurity professionals with automated bots, organizations are looking to supplement their cybersecurity leadership, management, and maintenance with MSSPs.
The ever-changing world of new technologies and cyber threats have led CISOs and CIOs to bring additional resources to their team to assist with overall threat management, compliance and assessments, cybersecurity program strategy and oversight, as well as education and awareness campaigns.
Which of the trends that we picked out seems more relevant to your organization this year?
As you prioritize your initiatives and resources, bring the CyLumena team in. We can help you target the tactics and approaches that will benefit your unique security profile.