Trends set to impact the European cybersecurity industry in 2024 according to inCyber

For the media hub dedicated to cybersecurity and digital trust inCyber, the threat landscape will continue to evolve in 2024, leading the cybersecurity industry in new directions and shaping the trends it forecasts for the new year.

Europe-wide cybersecurity legislation

One of the biggest changes that will impact the European cybersecurity landscape in 2024, inCyber predicts, will be the NIS2 Directive, the EU-wide legislation that provides legal measures to boost the overall level of cybersecurity in the EU.

Although the new legislation represents a positive step towards enhanced cybersecurity, the media outlet anticipates that 2024 will be a period of adaptation for both EU member states, who have until October to incorporate NIS2 into their national legislation, and for the EU businesses that will need to adjust their cybersecurity practices.

While companies may hope to become compliant merely by acquiring adequate technology, the directive also contemplates practices and operation, which for inCyber means there will be no “magic on switch” and implementing the rules set forth in the directive may require considerable effort for organisation that have yet to prioritise cybersecurity.

Collaborative intelligence sharing

Another key trend the digital trust hub pinpoints is a cultural shift towards more open and collaborative intelligence sharing in 2024. This trend comes as a result of the current gap in the effectiveness of intelligence sharing after cyber incidents.

In response to this gap, inCyber expects local governments and regulatory bodies to enforce policies that encourage or mandate the sharing of cybersecurity incidents and threat intelligence in order to foster a more collaborative and less victim-blaming environment.  

In the media channel’s view, this shift will not be focused only on compliance, but on cultivating a mindset where organisations view intelligence sharing as a communal responsibility, vital for collective cyber resilience.

Moreover, as the culture moves toward prioritising protection, education, and prevention over penalisation, inCyber expects a more unified front against cyber threats for organisations and individuals. “The emphasis will be on learning from incidents, spreading awareness of emerging threats, and collectively devising strategies to prevent similar attacks, thereby creating a more secure and informed digital ecosystem,” says inCyber in its 2024 trends forecast.

Identity theft

Identity-based attacks will continue to be a major threat in the new year, according to inCyber. Citing CrowdStrike’s latest Threat Hunting study, the media outlet’s trends outlook claims that 80% of breaches occur through compromised identities, making identity the most critical protection area that organisations should aim to reinforce in 2024.

Not only are cyber attackers using compromised valid credentials, says the cybersecurity hub, they are also relying on weak credentials and underground purchases. In addition, these attackers have elevated their phishing and social engineering capabilities.

IT and security: working together

As new threats emerge in 2024, inCyber contends that the separation between information technology (IT) and security responsibilities will become more blurred within organisations. Instead of operating in completely separate silos, these teams are becoming increasingly interconnected due to the evolving landscape of security risks that directly impact IT infrastructures.

This trend can be seen through the advent of new cybersecurity platforms, designed specifically for IT teams and that can be integrated seamlessly with IT operations to provide real-time insights and automated responses to security incidents.

Preparedness

Prioritising cybersecurity and adopting a proactive approach will continue to better position organisations against emerging threats and mitigate risks in 2024 in inCyber’s view. Cybersecurity preparedness involves investing in advanced security infrastructures, and also in fostering a culture of cyber awareness among organisations’ employees.

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