Cyberattacks are continuing to erode business and personal privacy as data breaches become more common. In the first half of 2019 alone, more than 4.1 billion data records were exposed in known data breaches. The average cost for a company that’s been breached is now nearly $4 million per business.
As we become ever more dependent on technology, the $120 billion cybersecurity industry is growing. As AI and IoT are growing, we’ll all benefit from having an internet-connected home, auto or daily schedule. However, we have to ask ourselves; what are the potential dangers? With a cyberattack happening on average every 39 seconds, security is imperative for every business and increasingly every individual.
Here are three top security trends to watch in the coming year.
1. Expansion of Cloud-Based Security – As more business moves to the cloud, cloud-based security platforms are growing. From cloud-based data-storage services like Dropbox to CRM solutions like Salesforce, we’ve all become more dependent on storing sensitive data in the cloud. Cloud-based security offers several advantages over traditional approaches including reduced costs, economies of scale, improved protection, greater threat intelligence and faster compliance. With 75% of businesses expecting to move operations to the cloud, cloud-based security will thrive.
2. Advancements in Encryption – As attacks have gotten more sophisticated, data-encryption has followed suit. A Ponemon Institute study found that 45% of companies surveyed have a consistent encryption strategy in place. But as encryption technology becomes outdated and vulnerable to attack, data can be compromised. We’re seeing advancements in encryption that hare staying ahead of threats. That trend will continue in the coming year.
3. Growing Use of “Password-less” Authentication – Password privacy is a major security issue. A new authentication method is rapidly growing. Password-less authentication includes hardware tokens like pass cards, one-time password generators, biometric authentication, and knowledge-based authentication. Because passwords are one of the biggest attack points, we will see continued growth in password-less options in the coming year. In fact, it’s predicted that 90% of mid-sized companies will implement a password-less protocol by 2022.
Need For Cybersecurity Talent
Cybersecurity Ventures projects that there will be 3.5 million unfilled cybersecurity jobs worldwide by 2021. In the US alone there are currently 500,000 unfilled positions. With the number of security-training companies and certifications only growing, employment in this field is all but guaranteed if you are qualified.