Top 15 Cybersecurity Predictions for 2024

Hackers could leak your data or completely shut down your business for some time. The increasing level of sophistication that these hacks have prompted several organizations to crack down on cyber criminals, a back and forth battle that defines the cyber security trends that we see in the present.

Security weaknesses have cost for-profit and non-profit organizations billions of dollars in losses. In addition, as companies shifted to remote working since the outbreak started in the first place, they are much more vulnerable to hackers. If you’re one of those, you need to keep close to the latest developments in cybersecurity. 

This article will discuss the most important cybersecurity trends and how they’ve transformed Internet security and privacy. Security of IT.

User Awareness

As cyber threats grow increasingly, businesses and organizations must take significant steps to improve and secure their systems. For many organizations, security awareness is crucial to avoid costly identity theft and cyber-attacks that could ruin any reputation or business. 

Alongside installing firewalls and other advanced IT protocols, businesses now believe it is essential to enhance the capacities of IT employees through workshops and similar. In the end, 80 percent of data breaches could easily be prevented by doing a good job at ensuring that your cyber security is in place (Cyber Monitor 2020).

Geo-Targeted Phishing Threats

Phishing attacks have become the most widespread security threat facing security professionals in the IT field, as a lot of IT professionals are still falling prey to email scams. 

Because cyber criminals employ more sophisticated techniques to design and execute a well-executed business attack on email (BEC), Phishing emails, as well as malicious URLs, continue to be common on the Internet, but they’re now more personalized, are more localized, and targeted to specific locations.

Attacks on the Healthcare Sector

Failure to address cyber-related risks in the healthcare industry exposes many people and companies to the liability of all kinds and security concerns. 

This has led hospitals and health care organizations to invest more money in cybersecurity. In the year 2019, the value of the cybersecurity market for healthcare was 9.78 billion, and it is predicted to increase to $33.65 billion in 2027 (GlobeNewswire 2020). 

In light of the effect of COVID-19 on the health sector, experts believe that the market could be worth $125 billion as soon as 2025 (Cybersecurity Ventures 2020).

Machine Learning

Cybersecurity use in machine learning (ML) is increasing and has become more proactive. With ML cybersecurity, it becomes easier, efficient, faster, and, at the exact while being, less expensive. 

ML develops patterns and manipulates them using algorithms based on a vast database. In this way, it can detect and react to active attacks in real-time.

Cloud Security

With top, cloud-based management solutions increasing numbers of businesses and organizations are moving to cloud computing. However, many cloud-based solutions currently don’t provide secured encryption, authentication, or audit logs. 

They also do not separate users’ data from other tenants who share storage space on the cloud. Thus, IT security experts recognize the need to improve cloud security.

GDPR Compliance

The general regulation on data protection (also known as GDPR) is among the most significant changes in data privacy regulation across European Union (EU) nations. While the law is based on EU roots, any business that sells goods or provides services to EU residents must comply with the new law regardless of their place of business. Therefore, GDPR has an enormous impact on all data protection laws worldwide.

Threats to Higher Education

Cybersecurity is one of the top priorities for students who work in higher education, particularly with the increase in online learning and remote working in times of pandemics. Cybersecurity issues in higher education mostly include compromised student information. 

This year three private institutions were the victims of an attack that involved hacking the admissions records of students (Inside Higher Education, 2019). This has prompted people who work in higher education to promote a more secure environment to protect faculty, students, and research information within the institution.

Vulnerability of IoT

Security issues continue to be a problem for the majority of IoT devices that dominate the market at present. The computing devices included in IoT products permit sending and receiving data through the Internet. 

This poses serious security risks for users and exposes them to cyberattacks, such as DoS or hijacked devices. Since IoT connects the digital and the physical world, home intrusions are now on the list of potential threats IoT can bring. A study from Symantec shows that routers with malware made up 75% of the IoT attacks in 2018, while connected cameras accounted for 15% (Symantec 2019).

Mobile Devices as Attack Vectors

Today, almost everybody uses smart mobile devices–66.6 percent of the global population in 2021, to be precise (DataReportal 2021). The majority of the top eCommerce platforms, as well as platforms, can be accessed via mobile platforms. Cybercriminals consider this an opportunity to take advantage of mobile users and utilize mobile devices as attack points.

Financial Services Cyberattacks

The financial services industry is another sector that faces cyber-attacks daily. This is not helped by the fact that some financial institutions struggle to keep up with cloud migrations and the growing amount of regulations. Phishing attacks are still common in financial services but are not limited to emails. Phishing via social media and different messaging apps is part of the security trends affecting the financial sector.

Security at the Edge Will Become Central

“As devices connected to the Internet of Things (IoT) devices multiply, it is crucial to incorporate security into the design of the new connected devices, along with AI (AI) as well as machine learning (ML) that they run (e.g., tinyML). 

A cyber-aware strategy is also essential as some companies begin to use 5G connectivity which will boost the number of IoT devices that are available and the size of attack surfaces for IoT devices and their users, as well as the multitude of networks they connect, and the supply chains that they are transported.”

Increase of Nation-State Attacks and Threats

“Recent years have witnessed cyber attacks of all sizes and types carried out by non-state actors and state actors. State actors plan and finance the operations to meet goals in geopolitics and try not to be attributed whenever they can. 

Non-state actors typically seek fame as well as the usual cash benefits. They are both parts of a more complex and uncertain ecosystem of brokers that provide information, access, and financial channels to people willing to pay.

Expect increased security during 2024’s Election Cycle

“With numerous high-profile and controversial midterm elections due to take place in 2024, cybersecurity is an important concern for both state and local authorities. Although security measures were put in place to guard the 2020 elections, the public discussions about the uncertainty of its security will increase awareness about every aspect of the voting process next year.”

Secure Data from Third-Party Vendors in mind will be crucial.

Third-party attacks are growing yearly as the dependence on third-party vendors continues to increase. Businesses must focus on evaluating top-quality vendors and their access to networks, as well as security protocols and interactions with the business.

Increased Privacy Laws and Regulation, by Kevin Dunne, President of Padlock

“In 2024, we’ll continue to see states pass new privacy laws to keep pace with states such as California, Colorado, and Virginia, which have recently passed legislation that they have drafted. 

As businesses attempt to navigate the maze of privacy laws and laws, there will be a growing necessity to offer real-time and complete information about the type of data is being stored and processed and who has access to it, and, most important, who has accessed it and at what point. 

As the variety of rules and regulations continue to increase, increasing pressure on companies to implement an automated, proactive system for data governance will rise.”

Achieve Success by 2024

If there’s one thing all of these predictions from experts have in common is that organizations have to adapt to the constantly changing cyber-security landscape if they will survive and thrive by 2024.

Whatever the future holds for 2024, it is possible to be aware of your cyber security dangers.