Prediction One: Cybersecurity investment will weather the economic storm
Although the global economy is facing difficulties, cybersecurity spending will continue to grow this year. As the frequency and severity of cyber attacks increase, organizations in both the public and private sectors will prioritize security because the potential consequences of a breach have become so serious. It is also worth noting that the perception of cybersecurity spending has changed in recent years from a situation where it was difficult for some organizations to see the value in investing in cybersecurity, to the point where most leaders understand the importance of protecting their infrastructure and data.
Prediction Two: State-sponsored cyber warfare will grow
During the early months of 2022, it was anticipated by many experts that Russian-sponsored cyber attacks and disruption would become a major concern. Fortunately, this prediction has not fully come to pass, but as geopolitical tensions show no sign of easing, it is important to remain vigilant as interference and disruption remain potential threats. In addition, with around 70 elections scheduled globally in 2023, there is a heightened likelihood of more state-sponsored attacks aiming to disrupt democratic processes and exert influence.
Prediction Three: Artificial intelligence and machine learning will play a more important role in effective cybersecurity
Already growing in importance across the cybersecurity ecosystem, AI and ML technologies will play a key role in delivering automated security solutions that can help predict patterns of behavior and attack methods. In particular, they will help organizations and their security teams deal with the growing volume of attacks, enabling human experts to focus on more strategic priorities and reduce time spent on mundane or repetitive tasks.
Prediction Four: IoT will become a bigger target for cyber attacks
The increasingly complex software in our homes and cars makes it easy for criminals to launch attacks, and in the coming year, more of these gadgets will be targeted as IoT in general becomes a major attack vector for cybercriminals. This is despite the fact that many of us spend more time on our phones than on computers, yet still spend far more money securing the latter, naively believing that because our phones are so costly, they must be safe. To safeguard these connected technologies, there will be a more even distribution of effort and investment.
Prediction Five: The security risks of file uploads and downloads will get the attention they deserve
Over the past few years, the security risks associated with remote working and a post-pandemic world have been under the spotlight, particularly as many organizations have significantly increased their use of cloud-based technologies. An often overlooked cloud-related risk, however, is the relative lack of attention given to the risks associated with files as they are uploaded or downloaded to and from the cloud. In 2023, these risks will become much easier to address as organizations such as Glasswall help draw attention to the benefits of Content Disarm and Reconstruction (CDR) to provide proactive protection against file-based threats.
Prediction Six: Cybersecurity will finally become a leadership issue
In a development that is long overdue, leadership teams and boards will become more effective in their approach to preventing and mitigating cyber risks. Increasingly recognized as a business-critical priority, many leaders have learnt the hard way, having been the victims of an attack. As a result, leaders everywhere – particularly in larger companies – will become more effective in meeting the needs of their CISO and security teams.
Prediction Seven: Cybercrime legislation will broaden its reach
This year, the cybersecurity industry should expect to see more legislation from governments designed to hold vendors to account for the security of their products and services. The US government, for instance, is leading the charge in this regard for software procurement – a trend which is likely to be mirrored globally across both public and private sectors, helping increase industry maturity while offering a boost for consumer confidence.
Prediction Eight: Cybersecurity industry investment will focus on strong revenue and growth
After years of heavy spending in the cybersecurity sector, investors will turn away from prioritizing growth at all costs and instead look for business profitability to drive their financial decision-making. This will almost certainly lead to a cybersecurity industry with a smaller number of players because only strong solutions with existing and growing revenue will attract financial backing in what is likely to be a tougher economic environment.