Experts predict continued zero-trust, cloud security adoption in 2023

VentureBeat reports that 2023 is expected to see a continuation of cybersecurity trends that emerged this year, from the rising momentum of zero trust security to increased focus on identity access management. Based on projections from various experts and organizations, the fastest-growing network security market sector in 2023 will be zero trust, with Gartner predicting a 27.5% compound annual growth rate from 2021 to 2026, and Markets and Markets projecting global spending on related software and services to rise to $60.7 billion by 2027. A recent Okta survey found that 97% of organizations are planning to deploy zero-trust plans over the next year and a half, or already have one in place. Cloud security spending is also seeing continued growth, with Gartner projecting a 26.8% growth rate next year, while nearly $76.5 billion is expected to be spent on security services such as consulting next year compared with $72 billion in 2022. In addition, spending on identity access management is expected to reach $20.75 billion in 2023, as companies attempt to thwart threat actors renewed focus on identity theft to initiate breaches.