2024 technology advancements in endpoint security
Cybercrime and data breaches have escalated to alarming levels, with the global estimated cost of cybercrime in the cybersecurity market reaching over $8 Trillion in 2023. Projected to rise by an additional $5.7 trillion (+69.94 percent) by 2028, the urgency for advanced endpoint security solutions has never been more apparent.
Cybercrime and data breaches have become some of the most significant threats individuals and organizations face in the modern business world. As technology continually advances, so do the methods employed by cybercriminals to exploit it. As a result, endpoint security solutions have become a vital tool for businesses and individuals seeking to protect their devices and sensitive data from harm.
As we move into 2024 and beyond, endpoint security technologies will undergo significant advancements that will empower organizations to combat cyber criminals effectively. Businesses expect innovative software vendors' solutions, ensuring robust protection against cyber threats.
As the financial toll of cybercrime continues to soar, with a forecasted peak of $13.82 trillion by 2028, the push for innovative endpoint security technologies becomes increasingly critical. Backups, while still essential to protect from data loss, no longer stop cyber criminals from ransoming trade secrets, insider information, or financial information. These attacks can devastate businesses, resulting in financial losses, reputational damage, and operational disruptions. Cybercrime has become a lucrative business, with criminal organizations offering a full suite of IT services to recover their systems post-ransom.
One of the most significant advancements users will see in the coming year is the broader adoption of Artificial Intelligence (AI) and Machine Learning (ML) algorithms in endpoint security solutions. These technologies are poised to transform endpoint security by preventing zero-day attacks and identifying advanced persistent threats (APTs) in real-time. With AI and ML deployment, endpoint solutions will be able to learn and adapt to emerging threats, thereby ensuring that businesses and individuals are protected from future threats.
User behavior analytics (UBA) is another technological advancement expected to differentiate endpoint security solutions in the near future. This technology monitors user activities across devices and identifies any suspicious behavior. UBA uses advanced algorithms that evaluate user behavior patterns to identify irregularities that could indicate a security breach. Vendors who can provide this technology well will stand out in the coming year.
Blockchain technology also has the potential to reshape endpoint security solutions as it can ensure data integrity and secure communications. With blockchain, data can be secured through encrypted ledgers, reducing the risk of data breaches. This technology also provides a secure method for data transfer, once again reducing the risk of data breaches.
Finally, open-source, programmable endpoint solutions that integrate with other systems outside of endpoint security are expected to experience broader adoption in the enterprise. Integrating endpoint security systems with other systems, such as cloud applications, firewalls, and network security systems, can enhance an organization's overall cybersecurity posture. Vendors that can provide open-source solutions that integrate within an organization's security strategy will likely become the go-to choice for businesses seeking endpoint security solutions.
In 2024, there will be significant advancements in endpoint security solutions. In the face of cybercrime costs potentially reaching a staggering $13.82 trillion by 2028, vendors must raise their standards by integrating AI, ML, UBA, and blockchain technology to offer innovative solutions that address the evolving cybersecurity needs of organizations. As cybercrime tools and networks become more sophisticated, investing in systems that can protect data and devices is crucial. Vendors who embrace innovation and adopt cutting-edge technologies will have a competitive advantage, ensuring maximum protection for their clients’ endpoint security.
Jack-Daniyel Strong is Client Platform Engineer at Fleet Device Management.