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2024 CyberSecurity Trends From Top Vendors

Digital threats remain a top concern for CISOs. Social engineering attacks, third-party risk management and geopolitical/disinformation threats are all growing concerns.

The cybersecurity landscape will be reshaped by the use of generative AI. Security teams will be able to quickly adapt to changing threats with the help of specialized language models. ML will also advance to automatically update cybersecurity protocols, reducing reliance on manual updates.

CrowdStrike

The threat landscape has changed rapidly, with cyber attacks becoming more sophisticated and frequent. Cybersecurity teams must be proactive and concentrate on threat detection and reaction to protect themselves against the new, evolving threats. Moreover, they must also build strong partnerships with leading technology vendors. Here are some key cybersecurity trends that will emerge from CrowdStrike in 2024:

Multi-factor authentication will become a requirement in 2024 for accessing applications and data. This is because adversaries are shifting away from malware and exploit kits to steal credentials through interactive intrusions, password spraying, and social engineering. MFA requires users to authenticate with something they know, something they have (like a smartphone), and something they are (biometrics).

Increased focus on mobile security: As more employees work from home or on the go, it is essential for organizations to deploy robust BYOD protection solutions. The technologies must be capable of detecting malicious software and enforcing policies in order to protect sensitive data. Organizations must develop strategies for managing the risk of third parties and continuous exposure.

We can anticipate that in 2024 we will continue to see an increase in cyberattacks by nation-state actors. Ransomware, theft of intellectual property, attacks on supply chains, or even the disruption of critical infrastructure could be included. They could also use deep fakes and disinformation campaigns to influence public opinion and influence elections.

Strong spending trends: The growing number of cyberattacks has fueled increased enterprise spending on cybersecurity services. This has benefited companies like CrowdStrike, which offers unified platforms that can counterattack emerging threats.

Innovative technology: CrowdStrike has been investing in innovative technologies to enhance its products and expand its reach. For example, its Falcon platform is a cloud-native solution that doesn't require on-site appliances. It is easier to scale for the customer and maintenance costs are reduced. Falcon also constantly improves and evolves based on intelligence and customer feedback.

The company's revenue grew strongly in the first quarter 2024. Its recurring revenue increased by 64%, while its non-recurring revenues rose by 17%. The company increased its gross profit margin to 68% during the same time period from 76% the year before. The company's stock price has also risen as a result of the strong earnings report.

Okta

The cybersecurity landscape is ever-changing. Cyber threats continue to evolve and attack across the enterprise, resulting in significant disruption, loss, and damage. It is important for cybersecurity leaders, to combat these threats and prioritize usability while also enabling the right security posture, that they deploy technologies which enable them to achieve this. This is why Okta is partnering with Varonis to highlight the key cybersecurity trends emerging from its Businesses at Work 2024 Report.

It's vital to keep reminding employees about the importance of cyber hygiene as phishing becomes more sophisticated. Using tools like two-factor authentication (2FA) can help mitigate a phishing attack and protect data from malicious actors. Also, it is important that employees are trained on how to identify phishing emails. This is especially true when working remotely.

Another key trend that Okta is highlighting is the growing importance of a security-first approach to identity management. It is important for companies to have a proper identity management system in place, especially with GDPR regulations and new privacy laws on the way. This will help them mitigate any risk that a data leak may occur. It is important to enable users to access their cloud, mobile, and other apps without constantly logging in or entering credentials.

Cyber breaches are still primarily caused by human error, despite the fact that the cyber landscape is constantly changing. It is especially true of remote workers who are more likely to open an infected email attachment or use an unsecure Wi-Fi network. This is why it's crucial for companies to invest in training their remote workforce on how to be better cyber stewards.

Cyber criminals are expected to have a very busy 2024, as geopolitical tensions continue, there will be major elections both in Europe and America, plus the Olympics (Paris) is the most important sporting event for the year. All of these events take place within just a few short months. In addition, disinformation campaigns are expected to reach an all-time high. Expect to see cyber criminals employ AI-engineered deception tactics like deep fakes and audio fakes to manipulate unsuspecting users and the media.

Microsoft

Cybersecurity is constantly changing, and attackers are using increasingly sophisticated techniques. As a result, it's critical that security leaders remain proactive and implement advanced defence strategies to mitigate the risk of cyber attacks and data breaches.

The industry is preparing for a big year for AI and 2024 looks set to be a turning point for its use in cyber defenses. AI and ML allow cybersecurity systems to analyse huge volumes of data, identify patterns and detect threats.

In addition to enabling threat detection, these technologies also offer the potential for predictive analytics. This can alert security professionals to potential attack patterns before they occur, enabling them to respond faster and reduce the impact of an incident.

Cloud-based threats are one of the most important market trends. Increasingly sophisticated hacking tools are being developed by criminals, including worms that leverage vulnerabilities and misconfigurations in cloud-based applications. In particular, Kubernetes, an open-source container management platform, has become a target for such attacks.

A further growing concern is supply chain attacks, with attackers compromising software and hardware providers in order to infiltrate downstream targets. These incidents often have geopolitical roots and can cause significant business disruptions with wide-reaching consequences. As a result, businesses must ensure stringent third-party vendor security and conduct rigorous vulnerability assessments.

A second area that will receive attention is enhancing IoT Security. This could include implementing standardized security protocols and mandating that new devices meet certain requirements for secure connectivity. This will require multi-factor authentication as well as the use of biometrics for identity verification.

Finaly, the focus will continue to be on cyber security for small- and medium-sized business. Cybercriminals are attracted to these organizations because they have few resources. There are MSSPs or MSPs that can offer a variety of security services and improve the overall security posture for these organizations.

Cisco

The cybersecurity landscape is constantly changing, requiring companies to be prepared for unexpected threats. A holistic security approach is needed, including protection during all phases of an attack. Regular vulnerability assessments are also required as well as strong authentication and verifying measures. This requires an integrated security system that includes cloud and on-premises technologies.

Fortunately, there are some key market trends that can help businesses mitigate cyber threats in 2024. These include implementing strong authentication and securing IoT devices. Additionally, focusing on reducing the threat surface through encryption and leveraging automated responses can significantly reduce risk. In addition, collaborating with outsourced cybersecurity expertise can help organizations navigate the evolving landscape and implement best practices.

We expect the Internet of Things to continue growing in 2024. However, this expansion increases the number of potential vulnerabilities that can be exploited by hackers. As a result, securing IoT devices will be critical to ensuring business continuity and providing a secure user experience. This will be accomplished through standardized security protocols, including multi-factor authentication (MFA), which requires users to provide multiple forms of verification. This could include something they know (a password), something they have (like a smartphone) and something they are (such as biometrics).

Another key trend to watch is the proliferation of BYOD in the workplace. This will require additional security policies to ensure that sensitive data stays secure on employee-owned devices, such as laptops and smartphones. MDM will help ensure employees have only the information they need, and no malicious apps.

Finally, we are expected to see more sophisticated attacks by nation-state bad actors in 2024. These will include extortion, supply chain attacks, intellectual property theft and disinformation campaigns. Additionally, we expect to see more collaboration between threat actors from different regions.

Overall, 2024 will continue to be a challenging year for cybersecurity professionals. The sophistication of attacks is increasing and they are aimed at both corporates and consumers. In addition, organizations are now undergoing rigorous security audits to satisfy the requirements of cyber insurance providers in order to qualify for coverage after a breach.

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