Build A Network Security Trend. How would you describe network security trends in 2020?
Network security has become a major concern for businesses around the globe. The rise of cybercrime has led to increased spending on cybersecurity. In addition, new technologies such as IoT and cloud computing have created additional risks.
As a result, here’s what we can expect from network security trends in 2020.
1. Rise of DDoS Attacks
Distributed denial of service (DDoS) attacks are becoming increasingly common. According to Gartner, the number of worldwide DDoS attacks rose by 82% in 2017.
2. Rise of IoT-based Attacks
The growth in IoT devices has brought new risks such as botnets. In 2017, 9 million IoT devices were compromised and used to launch a massive DDoS attack that caused major disruption to internet services in the United States. In addition, hackers have found ways to exploit vulnerabilities in IoT devices to steal data and money.
3. Expansion of Cloud Computing
Cloud computing is becoming a popular way for businesses to store data and run applications remotely. However, this approach opens up a range of security concerns because it is difficult to monitor cloud resources effectively. To reduce these risks, businesses will need to take steps to protect their data when using cloud computing services such as Amazon Web Services (AWS).
4. Increase in Mobile Devices
Mobile users are likely to increase from 4.2 billion in 2017 to 5.6 billion by 2021. This trend will lead to an increase in mobile-based cybercrimes such as malware attacks and fraudulent activities on mobile apps.
5. Emergence of New Cybercrime Tactics
Cybercriminals will continue to use new tactics and tools for conducting cyberattacks. One growing trend is the use of cryptocurrency payments for ransom payments and extortion schemes. For example, WannaCry ransomware used Bitcoin as its currency of choice when it launched its campaign back in 2017.
We will see further innovation in this field as cybercriminals find new ways of making money by exploiting weaknesses in software development or other processes involved in software development lifecycles like software testing, software development, IT operations management, release management, project management, quality assurance (QA) testing, configuration management, etc…
6. Rise of Cryptocurrency Thefts
The popularity of cryptocurrencies is growing rapidly and transactions are becoming more frequent. Cryptocurrency exchanges are particularly vulnerable because they handle large amounts of digital currency every day. As a result, hackers are likely to target cryptocurrency exchanges with DDoS attacks and other types of cybercrime tactics.
7. Rise of Cyber Insurance
In recent years, a number of cyber insurance policies have been launched to help organizations reduce their exposure to cyber risks. Cyber insurance covers the cost of recovering from cyberattacks, handling online fraud and other types of data breaches. According to PwC, the global cyber insurance market is to reach $12 billion by 2021.
8. Rise of Cyber Warfare
Cyberwarfare is also becoming more common. The U.S. military is already preparing for a future cyberwarfare scenario in which it will need to defend against attacks on weapons systems, including aircraft, ships and vehicles.
9. Rise of AI-based Threat Intelligence
Artificial intelligence (AI) is already being used in a range of security products such as content detection and malware detection systems. It is also being used in threat intelligence products that help organizations detect cyber threats.
In the future, we will see AI being used for analyzing network traffic and detecting unusual patterns that could indicate a cyberattack. North America will be the most lucrative region for cybersecurity during the forecast period. Further, owing to the high investment made by end-users in developing advanced cybersecurity solutions across various industry verticals especially finance, retail and healthcare etc.
Asia Pacific will witness considerable growth over the forecast period owing to the increasing adoption of cloud computing services such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud offering flexible and cost-effective solutions for businesses.