Cyber Security Trends and Predictions 2019

Ludmila Morozova-Buss has rightly said “People and organizations need to trust that their digital technologies are safe and secure; otherwise, they won’t embrace the digital transformation.
Digitalization and cybersecurity must evolve hand in hand.”

By 2020, we expect IT analysts covering cybersecurity will be predicting five-year spending forecasts(to 2025) at well over $1 trillion. (Cybersecurity Ventures). We are already in mid of year, here some of the trends in cybersecurity so far.

1. Global ransomware damage costs are predicted to hit $20 billion in 2021, up from $11.5 billion in 2019, $5 billion in 2017, and just $325 million in 2015, according to Cybersecurity Ventures. The industry with the highest number of attacks by ransomware is the healthcare industry. Attacks will quadruple by 2020. (CSO Online), this is followed by Manufacturing, BFSI, Retail and Telecom Verticle.
2. By 2020, the estimated number of passwords used by humans and machines worldwide will grow to 300 billion. (Cybersecurity Media). Hence Organisation need to plan for passwordless and password management solution for authentication.
3. Over 8.4 billion IoT devices are currently in use and this figure is expected to rise to 25 billion by 2020.By 2020 its estimated that 25% of all cyber attacks will target IoT devices, and with more industries adopting IoT technologies, we can expect to see a continued rise in these attacks unless manufacturers prioritize the security features within these devices.
4. As per a report from Gartner, nearly 40 percent of enterprise-level businesses will be using RASPs – Run time application self protection to some extent by 2020.
5. A report from the Cyber Threat Alliance (CTA) indicates a 459 %. increase in the rate of Cryptojacking, through which hacker use unauthorized access to organization server in their data center for utilization of computer processing power to mine cryptocurrencies.

These are the five trend and prediction for Cyber Security. As been said by Kirsten Manthorne “You are an essential ingredient in our ongoing effort to reduce Security Risk.” as we all have own role to play in making our organizations secure.