Top Cybersecurity Trends in 2023: What You Need to Know

With the advent of the digital revolution came the dawn of the digital age. Millions of companies, conglomerates, corporations, entrepreneurs, and even a plethora of federal agencies are switching in an exodus to cloud based systems to perform their daily operations.

As a natural outcome, cybersecurity has grown into a primary concern to safeguard data from various cyber hazards, illegal access, and even worse, a complete breach!

The overwhelming magnitude of phishing exploits, hacks, security breaches, and cryptocurrency heists in 2022 has created some unwanted records ( $6 trillion was the estimated total loss that cybercrime caused in 2022), and an estimated yet astounding 53.35 million US residents were the victims of cybercrime during the first six months of 2022 alone.

Cybersecurity is not a sector or industry alone; it has become a norm for the modern world that is highly dependent on digital technologies that are embedded with data. The magnanimous records mentioned above outline the utmost importance of cyber security.

Here is a compilation of some cybersecurity trends from Dimiour’s cybersecurity professionals, that might rule the roost in 2023.

Poll: On what scale do you think that your company is well-equipped in dealing with any cyber threats?

1. Cloud-Based Services: The Chief Target:

The last few years have seen a drastic exodus of business systems, operations, and data shifting to the cloud. The cloud is the force that enhances faster speed to reach targeted markets, increasing performance, cheaper operational costs, and higher versatility and scalability. As cloud technologies come with all these benefits in their belt, it’s most likely to be the coveted target in 2023.

According to a Check Point survey on cloud security, it is stated that 27% of firms experienced breaches in the previous 12 months. These sorts of untoward incidents will only increase as cloud devices are more employed because of a change in the workplace environment (the current hybrid work model)

According to reports, at least 80% of businesses have suffered a cloud cyber attack in 2022, and the graph skyrocketed to 98% by the end of 2022.

Even while these figures are rather high, what’s even more startling is that 43% of businesses revealed 10 or more attacks within the same period (latter half of 2022), while 83% of the enterprises experienced multiple breaches.

According to an IBM study, the median cost ( $3.86 million, 2020) associated with data breaches went up to $4.35 million in 2022, which is a 12.7% rise, just in a span of two years. This is a record-breaking high—certainly not the type of world record you would like to break.

2. IoT (Internet of Things): Impending Attack Looms:

One of the main causes of the surge in cyberattacks during the past decade is the rapid development of new technology and devices.

The Internet of Things shortly termed (IoT) is the term used to describe the billions of digital devices or physical objects employed around the world that collect and transmit data online.

It is projected by 2025, that there will be more than 41 billion linked IoT devices. Currently there are a great number of IOT gadgets like Google Home Voice Controller, Amazon Echo Plus, Nest Smoke Alarm, home security systems like Surveillance cameras, refrigerators, connected cars and so on being used regularly.

These huge numbers of gadgets give way to potential for cyberattacks like Botnet attack, DDOS (distributed denial-of-service ), Brute force attacks are growing at a rapid rate that security measures are very challenging to employ, implement and keep up pace.

The market for IoT security is anticipated to increase from 34.2 billion in 2022 to 38.7 billion in 2023. Everything is related to the fact that there are more interconnected devices that require serious cybersecurity.

These IoT device security numbers are not unexpected because security firmware will become much more crucial over the next ten years.

User Provisioning:

With user account provisioning, managing user identity and accounts are super easy. Dimiour IAM ensures that user accounts are created, given proper permissions, enabled, disabled, and deleted as and when required. The automated provisioning system triggers when changes are made in the source system.

Role Lifecycle Management:

The foundation of identity governance is based upon identity lifecycle management. Effective governance helps scale and modernize role cycle management for the application. Dimiour IAM aims to automate and manage the complete lifecycle of the role management process.

Final Word:

Managing identities is tough, but an IAM solution from Dimior can help improve it. Connect with our experts to learn more about IAM.