2024 Information Security Trends reveal growth in PAM and Zero-Trust adoption

CHICAGO, May 23, 2024 — Keeper Security today announces the Information Security and Compliance Future Trends 2024 report in partnership with analyst firm Enterprise Management Associates (EMA).

As emerging technology intensifies existing attack vectors and creates new threats, the stakes are higher than ever for IT and security leaders. According to recent research, 95% of IT and security leaders believe cyber attacks are more sophisticated than ever before. Despite the evolving threat landscape, the fundamental rules of protecting an organization in the digital age remain the same. Integrating solutions that prevent the most prevalent cyber attacks, including password management and Privileged Access Management (PAM) solutions, creates a layered security approach that can withstand common and emerging attack techniques.

“The cybersecurity industry is poised for continued innovation and transformation, driven by advancements in AI, regulatory mandates and shifting security paradigms,” said Christopher Steffen, Vice President of Research, EMA. “Organizations that proactively adapt to these changes will be better positioned to safeguard their assets and data against emerging threats and cyber attacks.”

“With rapidly evolving threats, new regulations, tech advancements and a proliferation of devices, cybersecurity is more critical than ever before,” said Darren Guccione, CEO and Co-founder, Keeper Security. “Every organization needs to secure its passwords, credentials, secrets and connections to reduce the risk of cyber attacks and defend against internal and external threat vectors. The dynamic threat environment underscores the necessity for proactive cybersecurity strategies that can counter both existing and emerging threats.”

Today’s organizations understand that deploying a PAM solution is critical to strengthen their security posture and mitigate risks. EMA found that Google search interest in Identity and Access Management (IAM) and PAM increased from 2019 through 2023, indicating that organizations and individuals increasingly recognize the significance of access controls.

This aligns with recent research on the criticality of PAM: 91% of IT leaders shared that their PAM product gives them more control over privileged user activity, decreasing the risk of potentially devastating insider and external breaches.

Despite their importance, traditional PAM products are expensive, difficult to deploy and difficult to use – creating barriers to adoption. In recent EMA research, 45% of organizations cited tool consolidation as the most important factor when considering investments in new solutions. This trend is expected to become the norm, as organizations continue to seek more simplified solutions to their existing cybersecurity and IT tools.

“Zero trust has the potential to revolutionize the future of the cybersecurity industry, and Keeper is at the forefront of that revolution,” said Craig Lurey, CTO and Co-founder, Keeper Security. “We are committed to providing cutting-edge solutions that empower businesses of all sizes to navigate the ever-evolving digital landscape securely, connecting enterprises and consumers with the digital resources they need in the simplest and most secure way possible.”

Download the full report to learn more.