Future Cybersecurity Predictions for the Year Ahead

Why Cybersecurity is important?

As we grow more and more reliant on computer technologies, we also become more vulnerable. Identity theft, social engineering, hacking and other types of cyberattacks are on the rise and it affects everyone from individuals to large corporations, even countries. 

This is why cybersecurity is important to better protect our sensitive information in the online world.

What is the Biggest Cybersecurity Threat?

It’s hard to pinpoint one particular cybersecurity threat from so many, but phishing attacks, ransomware, cryptojacking and IoT attacks definitely take the lead.

How to Prevent Cybersecurity Attacks?

Here are some tried-and-proven ways to prevent cyberattacks that every organizations should adopt:

Better access control to your systems and network.

Ensure endpoint protection.

Employee cybersecurity education and training.

Keeping software up to date.

Data backup.

Better password management and passwordless technologies.
Well, we stepped into 2021 and left the previous year behind us. Now we are hoping that 2021 will be better to us than 2020 was, but in an industry with so many challenges and unknowns like this, one can never be 100% certain of the cybersecurity industry trends that await us.

Still, we are going to take a look at some of the new trends in cybersecurity and try to predict what is waiting for us in the year ahead of us.

Today, cyberattacks are the fastest-growing crime globally, surpassing illegal drug sales, human trafficking and other crimes. Cybersecurity Ventures even predicts that the global cost of cybercrime in 2021 will hit $6 trillion, which comparatively, is more than any world economy except for the United States and China.

With that, here are our future cybersecurity predictions for 2021:

1. Hacking-for-Hire is on the Rise

Also known as industrial and corporate espionage, we will likely see more companies dipping their fingers into this. So far, the biggest nexuses for this have been Russia, China, the United States and India, but we expect this to spread to other centers in 2021 as well.

Furthermore, while the government sector and financial services have so far been the most targeted, expect other industries, such as healthcare and hospitality industry to become just as interesting targets in this year and ahead.

2. Clearer Implications of Remote Working on Cybersecurity

With Covid-19, remote working has exploded. One of the problems this has brought to organizations is having to deal with a wider attack surface. Adding to that, there were very few security best practices that dealt with different connectivity systems that remote working brings.

Hackers have already recognized the remote worker and his computer as a potential “easy access” into the corporate network, but now we expect businesses to up their security game as well when it comes to remote working, with better employee training and education (such as teaching their employees how to securely email when working remotely).

3. Zero Trust to Supplement VPNs

Continuing with the work from home theme, Virtual Private Networks (VPNs) have seen increased use in 2020 as many people have moved their offices into their homes.

As the Internet of Things (IoT) continues to expand, businesses are increasingly turning to specialized iot software development company to navigate the complexities of this rapidly evolving landscape.

By partnering with an experienced iot software development company, organizations can tap into a wealth of expertise and resources, enabling them to create innovative IoT solutions that drive efficiency, enhance customer experiences, and unlock new revenue streams.

These dedicated IoT development firms possess the technical know-how and industry insights necessary to guide businesses through the intricacies of IoT implementation, from conceptualization to deployment, ensuring a seamless integration of connected devices and systems.

The shift to work from home has fundamentally altered the cybersecurity landscape, demanding new strategies from organizations. In this era, securing remote connections is as crucial as protecting office networks, given the diverse locations from which employees now access company data.

This change has led to an increased emphasis on securing home networks, which often lack the robust defenses of traditional office environments. Training employees in cybersecurity best practices for home settings has become a key focus, ensuring they are equipped to recognize and mitigate risks.

Additionally, the implementation of advanced security protocols is essential to safeguard sensitive information accessed from outside the office. Adapting to these changes is not just about technology; it’s about reshaping the culture of security in a world where work from home is increasingly common.

On the positive side, VPNs provide a more private and secure network for the user, but there are other vulnerabilities that cybercriminals can exploit, particularly slowing down the Internet.

As a result, many companies are already working on introducing zero trust that would allow their remote workers access to only what is absolutely necessary to perform their current work. This, as a result, shuts off many potential avenues of attack for a would-be hacker.

As the digital battlefield shifts beneath our feet, creating a cybersecurity RFP has evolved from a mundane procurement task into a strategic art form. This document is no longer a mere wishlist, but a crystal ball that anticipates the shape-shifting threats lurking in the shadows of our interconnected world.

Crafting an effective cybersecurity RFP demands a blend of foresight and flexibility, weaving together strands of zero trust philosophy, remote work realities, and cutting-edge threat intelligence. It’s about painting a vivid picture of your organization’s digital fortress, challenging vendors to not just fill gaps, but to erect adaptive barriers that learn and evolve.

By meticulously creating a cybersecurity RFP that resonates with both current vulnerabilities and future possibilities, companies can attract cybersecurity artisans capable of sculpting defenses that are both robust and agile, ready to pirouette in the face of tomorrow’s digital tempests.

And while we wouldn’t go as far as to say that zero trust technologies will completely replace VPNs, we will still see more companies supplementing VPNs with zero trust.

4. Ransomware will Get Even Worse

Okay, this was probably the easiest of cybersecurity market predictions that we could make, but it still holds true.

The only difference that we might see in 2021 is that ransomware will focus less on individuals and small companies (meaning “small fry”) and will instead target more large corporations and multi-million dollar companies. 

What this means is that there will be fewer cases of ransomware, but those that do occur will have a much greater financial impact.

As remote working has exploded, the shifting target audience for ransomware now coincides with the changing landscape.

It always works this way because it’s the only way to constantly sneak into users’ data. So in a post-covid context, it’s become even more risky online and it’s critical to beef up cybersecurity measures even more.

And it’s especially a hot topic for large corporations that have staff all over the globe and are constantly transferring data that can be hijacked.

5. Passwordless Technologies to Take Front Seat

Passwordless technology replaces traditional passwords with more secure methods that eliminate the necessity of creating (and remembering) passwords.

These can be tokens, pins, fingerprint, voice recognition, magic link, etc, usually delivered via email or text message.

We have already seen organizations adopt passwordless technologies in 2020. For instance, the use of Microsoft’s Windows Hello instead of a regular password has increased from 69.4 percent of users in 2019, to 84.7 percent in the last year. Windows Hello allows Windows 10 users to log in to their device using fingerprint, iris, or facial recognition.

6. Major Updates for Data Privacy Acts Around the Globe

In a world where everyone is constantly online and personal data is exposed, data privacy is incredibly important. Because of this, we will see countries around the world pay closer attention, introduce new data privacy acts and laws and update their current ones.

In that regard, we have already seen the EU introduce its General Data Protection Regulation (GDPR) in 2016 and implement it in 2018 and since then, many other countries have followed with their own data privacy acts. 

Last year, for instance, Canada introduced its own Consumer Privacy Protection Act (CPPA), replacing the, by now severely outdated Personal Information Protection and Electronic Document Act (PIPEDA) that dates all the way back to 2000.

In 2021, we should see more countries step up their data privacy game.

Conclusion

2021, should bring many new challenges in every part of our lives and cybersecurity is no exception. Predicting new trends in cybersecurity is a difficult task and in an industry as active and fluid as cybersecurity, things don’t always go exactly as you predicted, but taking a look at the current market and making some educated guesses, we  can at least come to a reasonable guess of what to expect in 2021.

As you get ready for the 2021 cybersecurity industry trends, you should also be aware of the 4 biggest email attack types you should expect in 2021, so be sure to read our article on that as well.