This report explores the evolving enterprise cloud environments and threat landscape, spotlighting the predominant trends of 2023 and offering predictions of which ones will continue into 2024. Throughout 2023, cloud and SaaS adoption continued to rise in enterprise environments and adversaries responded by increasingly targeting and abusing SaaS apps. The majority of adversary activity targeting Netskope customers in 2023 was criminal, with adversaries using social engineering to gain access to a victim’s environment and then install an implant (usually Cobalt Strike) to maintain persistence before ultimately trying to extort their victims. Into 2024, cloud and SaaS app adoption will continue to grow and adversaries will in-turn increase their focus on the most popular apps.