Cybersecurity Trends to Watch in 2023

business IT services and security trends

The global cybersecurity market could reach $352.25 billion, with an annual growth rate of 14.5%, by 2026. Losses due to cybercrime damages reached $6 trillion in 2021. As a result, 55% of businesses increased their cybersecurity budgets.

Neglecting to consider the latest cybersecurity challenges could leave your business vulnerable. 

We spoke with several of the largest cybersecurity providers in Los Angeles to compile a list of cybersecurity trends to consider applying to your business in 2023.

Recognizing these trends can help you remain proactive. You can protect your business before there’s an attack.

Read on to learn more. 

Human-Centric Security

Human error and system error account for 52% of data security breaches. However, 54% of business owners believe their business is too small for a cyberattack. As a result, another 54% don’t have a plan in place for reacting to attacks.

Meanwhile, 43% of all attacks target small businesses. About 60% of small businesses go out of business within six months of a cyber attack. 

There was also a 424% increase in new small business cyber breaches last year.

Whether your business is big or small, you are vulnerable. One of the biggest vulnerabilities to your business is your employees. 

Human-centric security design considers the role of your employees. You can adopt human-centric security design practices. These practices can reduce cybersecurity-induced friction.

Unfortunately, most traditional business IT services and security programs don’t recognize or reduce insecure employee behaviors. To improve your current cybersecurity, you need to review past incidents. Then, you can identify major sources of cybersecurity induced-friction among your team.

Following this trend can ease the burden on your employees. You can adopt more human-centric controls to reduce friction and risk. 

Most cybersecurity leaders don’t consider the people who improve their technology or processes. New trends are taking a human-centric talent management approach. You can attract and retain talent to improve functional and technical maturity.

Enhancing people management can ensure security program sustainability. It can also help you avoid systemic cybersecurity and recruitment challenges.  

Threat Exposure Management

There was a 10% increase in the cost of cybercrime in the past year. About 30,000 websites get attacked daily. A company falls victim to an attack every 14 seconds. 

Unfortunately, a modern enterprise’s attack surface is complex. Businesses need to evolve assessment practices to identify potential exposure to threats. Consider implementing a continuous threat exposure management (CTEAM) program.

If you need help, try to find the best cybersecurity company in Los Angeles. Outsourcing your IT needs will save you time and money. With managed IT services, you can protect your business from potential threats. 

Businesses with a CTEM program will suffer fewer breaches. Continue refining threat assessment programs with help from a cybersecurity company. 

Identity Fabric Immunity

Misconfigured elements in your identity fabric can cause a fragile identity infrastructure. Using identity fabric immunity principles can prevent attacks. You can reduce the financial impact of breaches, too.

Identity fabric immunity can protect IAM components. You can use identity threat and detection response (ITDR) to fortify it.

Supporting Value Creation

Technology is moving away from central IT functions. Now, there’s a focus on corporate functions, individual employees, and fusion teams. Most employees already perform some kind of technology work. 

Businesses can adjust cybersecurity operating models. Your employees will need to know how to balance:

  • Financial risks
  • Reputational risks
  • Cybersecurity risks
  • Competitive risks
  • Legal risks

Measuring success against your business outcomes can help support value creation. 

Composable Security

Composable businesses need composable security. Composable security involves integrating cybersecurity controls into architectural patterns. They’re applied at a modular level in composable technology implementations.

More core business applications use composable architecture. This also requires new approaches to securing applications. 

Using composable security can protect your business by introducing undiscoverable dependencies. You can embed privacy and security using reusable security control objects. 

Cybersecurity Validation

Use new processes and tools to validate how attacks might exploit an identified threat exposure. These tools can automate predictable aspects of assessments. 

More organizations are using consolidated platforms to run validation assessments. Use security control benchmarks to make cybersecurity improvements. 

Platform Consolidation

More vendors are consolidating platforms around major cybersecurity domains. Consolidation can help simplify operations.

For example, you can use a single platform for identity security services. The platform will combine privileged access, governance, and access management features. 

Using a single platform can reduce redundancy. 

Ransomware Extortion

Ransomware started as malware that used data encryption to extort payments. Attackers could demand a ransom for the recovery of data. The increase in ransomware threats encouraged focused security research.

Companies can now restore data from backups without paying a ransom. 

To protect your business, look into Los Angeles cybersecurity companies this year. With help, you can protect your business before a ransomware attack occurs. 

Cloud Third-Party Threats

Unfamiliarity with cloud computing security could leave your business vulnerable. Attackers are now targeting cloud service providers. Cybercriminals can gain access to your customer’s sensitive data and IT infrastructure.

Attackers are thereby increasing the scale and impact of their attacks. 

When looking into cybersecurity services, consider cloud computing security as well. 

Mobile Malware

Mobile malware involves masquerading malware as harmless applications. Attackers can infect a mobile device using fake or customized, legitimate apps. 

Attackers are also weaponizing legitimate tools, which aren’t often recognized as malware.

Apply These Cybersecurity Trends Today

Don’t wait until a hacker or malware threatens your business. Instead, discuss these cybersecurity trends with your managed IT company. Working with one of the top cybersecurity companies in Los Angeles.

They can help protect your business. 

You can take a proactive approach to your cybersecurity needs today.

Want to learn more?

Be Structured Technology Group is here for you.

Contact us today to learn more about cybersecurity services. 

About Chad Lauterbach

CEO at Be Structured Technology Group, Inc. a Los Angeles based provider of Managed IT Services for small business. I desire to help small businesses better utilize technology by assisting in high level planning to make sure that new systems will benefit them both operationally and financially. I am careful to implement and support systems using industry best practices.