Five trends that will redefine cybersecurity for business in 2020
Cyberattacks pose an existential threat to businesses. And they’re on the rise. In the first half of 2019, more than 4.1 billion data records were exposed through data breaches – and those are just the ones we know about.
For businesses, this threat has a financial impact: the average cost of data breaches for companies that suffer them is $4 million per business – a staggering amount that many small to medium size employers simply cannot afford to lose. At Saphire, we pride ourselves on being at the forefront of industry knowledge when it comes to security. With that in mind, here is what you need to know about cybersecurity in 2020.
1. Cloud-based security options will proliferate
You can expect to be spoilt for choice when it comes to cloud-based solutions in 2020. Cloud computing has evolved dramatically over the past twenty years, and offers a scale and power that can’t be replicated by other means. A great example is our own cloud-based security suite, including services like data backup via our virtual servers.
2. Data encryption will advance
Cyber-criminals are moving faster than ever to crack encrypted services, opening up businesses to new threats every day. Almost all businesses today rely on encrypted software tools, such as office messengers and email, to protect their data. In 2020, the pace at which this encryption advances will need to rise, in order to stay ahead of the bad guys.
3. Cyber-insurance will become much more popular
It’s just common sense really, but as instances of cybercrime continue to plague businesses, cyber-insurance will become a growing field. Presently. The cyber-insurance market stands at $2.4 billion… but researchers at Stanford university say this could double (or even triple) next year!
4. Cybersecurity specialists will be in demand
Whether you’re looking to create your own in-house team (a major challenge!) or work with tried-and-tested cybersecurity specialists like Saphire, there is no doubt that the days of businesses being able to ignore the threat of cybercrime are firmly behind us. As a result, expect to see more cybersecurity experts in demand in 2020.
5. The decline of the password
For as long as most of us can remember, the humble password has remained the stalwart for IT security. But that’s about to change, as harder to compromise alternatives, such as biometric options, electronic tokens, and knowledge-based authentication, come to the fore.
There’s no denying that cybercrime is a major threat – and businesses will have to face it head on in 2020. Thankfully, Saphire is available as an IT specialist bolt-on service for your business. We can help you with all of the above, and more. Feel free to get in touch via our contact page if you want to make an enquiry.