Five major Cyber Security Trends in 2024

4th December 2024

A Record Spike in Attacks. The third quarter of 2024 saw the average weekly cyber attacks per organization climb to an all-time high of 1,876, marking a staggering 75% increase from the same period in 2023 and a 15% uptick from the previous quarter.

Some major attacks that rocked:

1. Indian Telecom Data Breach (Jan 2024) - estimated 750 million records, impacting 85% of the Indian population - Names, mobile numbers, addresses, and potentially Aadhaar information - Threat actors named CyboDevil and UNIT8200.

2. In September 2024, millions of personal records, including medical details, of STAR Health Insurance were leaked online.

3. In the largest data breach in India, personal details of over 81.5 crore Indians, sourced allegedly from the Indian Council of Medical Research (ICMR), were leaked online. This thread provided access to records of 815 million Indians, including sensitive information such as Aadhaar and passport details, names, phone numbers, biometrics, and addresses, etc.

Consequently, industries are consistently taking measures and investing to ensure that any security threats on information systems, network systems and application systems can be arrested. As per Statista Market Report, information security spending globally has reached $176 billion in 2023 and is expected to surpass $200 billion in 2024.

Such measures can be clubbed into five major trends which are noteworthy so far in 2024.

Trend 1: Harnessing power of AI and Machine Learning in Cybersecurity

In 2024, AI and Machine Learning (ML) played critical roles in cybersecurity. AI's advanced data analysis capabilities are increasingly used for identifying and predicting cyber threats, enhancing early detection systems. Also witnessed are emergence of AI-driven security bots, programmed to independently identify and neutralize cyber threats, making network security more proactive and less reactive.

AI has become a cornerstone in enhancing cybersecurity across various sectors through machine learning algorithms. AI-driven threat detection systems are emerging that offer the ability to respond to emerging threats promptly, providing vital support for cybersecurity professionals making use of natural language processing, face detection, and threat detection.

Trend 2: Expansion of Remote Work and Cybersecurity Implications

The expansion of remote work, a trend that has gained significant momentum, continued to shape the professional landscape in 2024. This shift necessitates a heightened focus on cybersecurity, particularly in securing remote access to work environments. solutions are engineered to ensure secure and seamless access to organizational resources, regardless of the user's location. This ensures operational continuity and a secure digital environment, which is crucial in the face of rising cyber threats associated with remote access.

Trend 3: Evolution of Phishing Attacks

Phishing attacks have long been a persistent threat in the cybersecurity world, and in 2024, they continued to evolve in sophistication and effectiveness. Modern phishing attacks have become adept at bypassing traditional security measures, using more personalized and technically advanced tactics to deceive users. In the face of these advanced phishing attacks, robust authentication systems are evolving as key to enhancing security.

Trend 4: Explosion and Enhanced Focus on Mobile Security and BYOD

In 2024, as mobile devices become increasingly integral to both personal and professional life, the focus on mobile security has intensified. The Bring Your Own Device (BYOD) trend is showing no signs of slowing down. With remote work becoming the norm, employees are using their personal devices for work-related tasks. The enhanced reliance on mobile devices for various tasks, including remote work, financial transactions, and personal communications, makes them attractive targets for cyber threats. Trend shows emergence of user-friendly interfaces and the challenge is to ensure that enhanced security does not come at the cost of convenience. Users can safely access their work or personal environments from their mobile devices without navigating complex security procedures.

To secure sensitive corporate data on these devices, many organizations are moving towards implementing robust mobile device management (MDM) solutions and enforce security policies. The challenge is to strike a balance between employee productivity and data protection.

Trend 5 : Attacks Against Cloud Services and security response

Over the past few years, there has been a significant migration of business data, processes, and infrastructure to cloud computing. The advantages are clear: faster time-to-market, increased productivity, cost reduction, and improved flexibility. However, Cloud-based threats such as reduced visibility and control, misconfigured cloud storage and settings, vulnerable cloud applications, incomplete data deletion, compliance issues, and migration concerns will continue to impact businesses.

Organizations are grappling with the challenge of safeguarding their critical data in the face of attacks on cloud services. The evolving trend is to find solutions for implementing a mature and streamlined cloud governance model, which can significantly accelerate their security response capabilities.

Enhanced need for Cyber Security Professionals

According to Google search data, the market for cybersecurity jobs has seen an increase of over 542% over 5 years.

While the tech industry was experiencing some massive layoffs, cybersecurity was growing. In the U.S. alone, there are currently 750,000 unfilled positions in the cybersecurity sector and a global shortage of more than 4 million!

According to the U.S. Bureau of Labor Statistics, the American cybersecurity workforce is expected to grow by 32% by 2032 and add around 53,000 new jobs. This is a significantly faster growth rate than other industries.

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