The world of cybersecurity is constantly evolving, and it can be challenging to stay ahead of the curve. With the proliferation of new technologies and the increasing sophistication of cyber threats, it is essential to stay up-to-date on the latest trends and best practices. In this blog, we will discuss the top strategic cybersecurity trends for 2024 and beyond.
Total Addressable Market for Cybersecurity:
Before delving into the top cybersecurity trends, it is important to understand the size of the cybersecurity market. According to a report by MarketsandMarkets, the global cybersecurity market size is expected to grow from $152.71 billion in 2018 to $248.26 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2%. This growth is driven by factors such as increasing cyber threats, growing adoption of cloud-based solutions, and strict government regulations.
The world is becoming increasingly connected and digitised, providing new opportunities and challenges for businesses and individuals alike. As more and more data is generated, stored, and transmitted online, cybersecurity has become a critical concern for organisations of all sizes. The global cyber security market size was valued at USD 153.65 billion in 2022. The market is projected to grow from USD 172.32 billion in 2023 to USD 424.97 billion in 2030, exhibiting a CAGR of 13.8% during the forecast period. As we look ahead to 2024 and beyond, here are the top strategic cybersecurity trends that organisations need to be aware of.
Top Strategic Cybersecurity Trends for 2024:
1 – AI and Machine Learning in Cybersecurity:
Artificial intelligence (AI) and machine learning (ML) are expected to play a crucial role in the future of cybersecurity. These technologies can help organisations detect and prevent cyber attacks in real-time by analysing vast amounts of data and identifying patterns that indicate potential threats. AI and ML can also help in automating the security process, which can save time and reduce the risk of human error. As AI and ML continue to evolve, they will become more sophisticated in detecting and preventing cyber attacks, making them an essential part of any organisation’s cybersecurity strategy.
2 – Zero Trust Security:
Zero Trust is a security model that assumes that all users, devices, and applications are untrusted. This means that every user and device must be authenticated and authorised before gaining access to the network. Zero Trust
security is becoming increasingly popular, as it provides an additional layer of protection against cyber attacks. With the rise of remote work, Zero Trust security is becoming even more critical, as it ensures that only authorised individuals can access sensitive data from any location.
3 – Cloud Security:
Cloud computing has revolutionised the way organisations store and manage their data. However, it has also introduced new security risks, as data is now stored outside the organisation’s firewall. Cloud security is expected to become a top priority in the coming years, as more organisations move their data to the cloud. Cloud security solutions include data encryption, access control, and threat detection, among others. As organisations continue to embrace the cloud, cloud security will become a critical aspect of their cybersecurity strategy.
4 – Internet of Things (IoT) Security:
The Internet of Things (IoT) has transformed the way we live and work, but it has also introduced new security risks. IoT devices are often insecure and can be easily hacked, putting sensitive data at risk. IoT security will become increasingly important in the coming years, as the number of IoT devices continues to grow. IoT security solutions include device authentication, data encryption, and threat detection, among others.
5 – Quantum Computing and Cybersecurity:
Quantum computing is expected to revolutionise many industries, including cybersecurity. Quantum computers will be able to break existing encryption algorithms, which will render many current cybersecurity solutions obsolete. To counter this threat, researchers are developing new encryption algorithms that are resistant to quantum attacks. Quantum computing will also enable new cybersecurity solutions, such as quantum key distribution, which will provide secure communication channels.
6 – SecDevOps
SecDevOps is the practice of integrating security into the DevOps process so that it is not an afterthought. It involves the collaboration between security teams and development teams to ensure that security is built into every stage of the software development lifecycle (SDLC). The goal of SecDevOps is to create a culture of security that enables organisations to build and deliver secure software faster and more efficiently. By incorporating security into the DevOps process from the beginning, organisations can identify and address security vulnerabilities early on, before they become larger and more costly issues. NINTH EAST strongly recommends that our clients implement SecDevOps practices within their operations which achieves “Security At the Outset”.
Opportunities for Cybersecurity Professionals:
The field of cybersecurity is expected to continue growing rapidly over the next few years, driven by the increasing number of cyberattacks and the need for organisations to protect their valuable data and systems. Here are some of the opportunities that are likely to be available for cybersecurity professionals in 2024:
As we look ahead to 2024 and beyond, cybersecurity will continue to be a critical concern for organisations of all sizes, made evident by the increasing number of cyber attacks and data breaches and as a result of that, the cybersecurity market is expected to grow significantly in the coming years. Together with education and planning, resourcing for the next wave of skilled cybersecurity workforce remain the focus areas to respond accordingly to the predicted trends.
NINTH EAST offers cybersecurity services which will allow your organisation to address the above trends thus remaining ahead of the curve at all times. Reach out for more information on how our services can assist your organisation.