Global recessions, cryptocurrency risks and fluctuations, labor and supply chain issues, and international conflicts that destabilize economic conditions across many geographies will be the main drivers of cybersecurity challenges in 2023.
Global recessions, cryptocurrency risks and fluctuations, labor and supply chain issues, and international conflicts that destabilize economic conditions across many geographies will be the main drivers of cybersecurity challenges in 2023.
Due to these circumstances, financial identity theft will increase, driven by both personal desperation and isolated economies like North Korea and Russia. Expect to see a slight decrease in ransomware attacks as a result of the disruption in the cryptocurrency markets as criminals switch to more overt financial theft and fraud, like tax and credit card fraud schemes. As a result, firms can anticipate investments in fraud and insider threat detection.
Expect to see firms try to reduce the number of cybersecurity suppliers they work with as they get ready for a recession and attempt to get more out of the technologies they currently have deployed. Expect consolidation on the vendor side through mergers and acquisitions, especially when exorbitant valuations start to decline to more affordable levels. As a result, in 2023 there will probably be fewer cybersecurity companies entering the market, and current suppliers will concentrate more on workable solutions to current and impending cybersecurity problems.
The problems will include protecting vital infrastructure and the supply chain (both physically and digitally), which will replace earlier worries about fraud and insider theft. In 2023, security executives in those sectors will put a lot of effort into bolstering security in these regions. To better secure and monitor the supply chains for software development and critical infrastructure environments (IoT Security and DevSecOps), expect to see established security vendors expand existing technology.