Page 167 - Cyber Defense eMagazine January 2024

What You Need to Know About the

Cybersecurity Market in 2024

By Doug Saylors, Partner, Co-lead, Cybersecurity, Information Services Group (ISG)

The cybersecurity market offers promising opportunities for real-time threat intelligence through
advanced technologies such as AI and ML. It’s also characterized by formidable challenges: the
complexity of modern systems, deepfakes, synthetic identities and other emerging tech-related
developments.

Heading into 2024, organizations are investing heavily and proactively in cybersecurity to safeguard their
digital assets, recognizing that prevention is more effective and cost-efficient than recovery. This includes
implementing robust security protocols, deploying cutting-edge threat detection systems, conducting
regular vulnerability assessments and promoting a culture of cybersecurity awareness among
employees. Additionally, organizations are embracing the concept of “defense in depth,” deploying
multiple layers of security to create a resilient and robust security posture.

The importance of cybersecurity at the board level cannot be over-emphasized. Executives and board
members understand the ramifications of security breaches and are actively exploring strategies and
investments to protect the organization's reputation and financial well-being and foster customer trust
and loyalty. To do this, they need comprehensive insights into the organization's cybersecurity posture,

Cyber Defense eMagazine – January 2024 Edition 167
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