Cyber Security: Industry Outlook for 2021.
The cyber security sector is increasingly important, standing as the narrow barrier between potentially vulnerable individuals and organizations, and the malicious outsiders that would seek to exploit and victimize them.
To get a sense of where the industry stands today and how it will change in the next 12 months, here are some predictions about the trends that are set to shape cyber security going forward.
Domestic digital security will come under increased pressure
The ongoing pandemic means that more people are working and learning from home than ever before, and even as mass vaccination programs are put into action, it seems unlikely that the habits formed over the past year will be reversed any time soon.
This means that cybercriminals will continue to refocus their efforts on targeting remote workers, pinpointing flaws in the networks and devices preferred by domestic users which are now doubling up as conduits for completing professional responsibilities.
In turn, this will mean that the identity theft protection market will continue to grow, with the right software provided by services such as Identity Guard allowing individuals to better shield themselves from the advances of hackers when working from home. Analysts predict that this market alone will generate $2.4 billion in spending across the US in 2021; a small but significant part of the $170 billion cyber security ecosystem.
Cloud migration will create problems
The move to remote working mentioned above has brought with it a scrabble amongst businesses to adopt a cloud-first approach to everything from software to storage resources. In order to facilitate communication and collaboration between teams that are geographically dispersed, the cloud is clearly favored over on-premises infrastructures.
However, as with any major shift, this is creating security concerns, both at the back end and from a user-facing perspective.
Human error and inconsistency has always been a bugbear of cyber security experts, and it will be amplified by the rise of cloud-powered platforms use by commercial enterprises. The importance of ensuring proper training is provided to employees to sidestep the most obvious issues should not be overlooked in 2021.
Ransomware will remain a threat
In terms of generating revenue with minimal overheads, the use of ransomware by cybercriminal groups is still a no-brainer, and one which will likely intensify this year as a result of the external factors covered so far.
Security researchers will need to stay on top of this trend, and also respond to the fact that new encryption techniques are being trialed as a means to allow crooks to subvert the preventative measures being put in place by businesses.
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