With the transition of the global business environment to cloud data storage and online management, the demand for cybersecurity is at an all-time high. The risk of misuse by the user and commercial organization data has increased with increased internet exposure, making robust cybersecurity mandatory.
From 2022 to 2030, the size of the global cybersecurity market is anticipated to grow at a compound annual growth rate of 12%. The industry’s rapid expansion is partly attributed to the constantly evolving technological environment.
Here are some predictions made by experts for the landscape and challenges of cybersecurity in 2023:
- Mr. Vinod Nair, Global VP of Sales and General Manager Noventiq India:
“2022 was the year of learning, evolution, and growth, and the main takeaway was that organizations need to prioritize their cybersecurity. No company is impervious to cyber threats. On a positive note, we already perceive that cybersecurity awareness is on the rise, and we see that a lot more organizations are taking steps to safeguard themselves – not just by deploying software to secure their systems but also by ensuring that their teams are up to speed with how to handle sensitive data on an ever-expanding carousel of devices and platforms. Looking at 2023, if we accept that the ongoing global economic turbulence will likely lead to an increase in opportunistic threat actors, then training teams on how to identify, manage, and report breach attempts is going to be key to ensuring that an organization can operate securely – even in the face of the rising number and complexity of cyberattacks.”
- Mr. Raj Sivaraju, Arete’s President of APAC (Asia Pacific)
“The growing number of cyberattacks is the result of increased tech integration in organizations. As technology evolves, so do hackers’ methods of breaching a company’s systems. However, new technologies are anticipated to lay the foundation for improved security. 2023 could present new security challenges, given the advances in quantum computing, pervasive networking, AI, and next-generation security management techniques. The previous ten years have seen a consistent rise in phishing, insider threats, company email compromise, understaffing in the cybersecurity field, and incorrectly configured code. Traditional approaches to cyber protection are ineffective against modern cyberattacks.”
- Mr. Sujit Patel, MD and CEO of SCS Tech
“Technology is constantly evolving and transforming how businesses operate in today’s digitally-driven world. While firms must invest in these advancements, it is also a new opportunity for threat actors to develop new and unique attack techniques. AI has emerged as a crucial tool for business leaders to bolster their security systems. As it evolves, it will become more relevant in 2023. Likewise, the cloud-native application protection platform (CNAPP) is another crucial tool that companies must look at in 2023 to seamlessly monitor, detect and respond to potential threats and vulnerabilities to their cloud security. They must also explore Mesh Architecture to create a dynamic security environment and ensure a more cohesive security posture by using fewer resources. Developer-first security, although a new concept, is also envisioned to gain traction in 2023 as more and more players focus on leaving control in the hands of developers to form a robust security foundation. Last but not least, it’s expected that managed security will witness greater adoption in 2023 in the wake of rapid digitization across the globe.”
- Mehul Shah, Founder, and Managing Director, Collabera Digital
“With a digital-first approach becoming the norm, technological advances in segments such as AI, Blockchain, Cloud technology, and Automation have emerged as the foundational crux spearheading digital transformation universally. The reason for the surge in the adoption is the increased acceptance from Industries such as banking, financial services, insurance, healthcare, consumer packaged goods, and telecommunications as future-forward organizations continue to seek newer ways to transform business operations to deliver superior customer experience. India has emerged as a major region globally in terms of digital engineering delivery with its robust ecosystem of global capability centers, engineering, design, and development service providers, and burgeoning startups coupled with a vast & strong talent pool of new-age digital professionals providing ample opportunity to build teams of scale. As we look ahead, the business of platforms, cybersecurity, and technology modernization will play dominant roles. It is essential to understand that business drives technology rather than the other way around. Existing systems and investments should seamlessly integrate with pioneering innovations to allow businesses to operate smoothly. At the same time, they scale, and these categories will enable businesses to achieve this seamless integration going forward.”
- Mr. Subbu Iyer, Regional Director for India and SAARC at Forescout Technologies
“As we head on to a new year, several trends are expected to emerge in the cybersecurity space in the months to come. 2023 will see leading organizations investing heavily in updating or establishing more robust cybersecurity policies and procedures, monitoring attack surfaces, including OT, IoT, and IoT devices, managing device compliance, securing the converging IoT and IT environment, and enabling security automation. Operational Technology (OT) has been a favorite target for cyber attackers over the years and going forward, the industry will see an upscaling in the level of threats that OT environments receive. Privacy and data security will be the foundation of consumer trust. There will be further growth in this trend as more and more customers continue to grow wary of how and where their data will be used. The upcoming year will see a growing impetus for cybersecurity readiness, with the higher management within organizations playing a key role in the adoption of better, more holistic cybersecurity measures. The supply chain security risks will also be a preferred target for cybercriminals. The coming year will continue to see an uptick in the number of attacks attempted to disrupt global supply chains.”
