Cloud Security Research Reveals Challenges, Areas of Growth in Upcoming Years

Cloud Security Research Reveals Challenges, Areas of Growth in Upcoming Years

While cloud services are becoming increasingly popular for business use, cyberattacks on cloud services are also growing. This has prompted a rise in cloud security software.

  • By Kaitlyn DeHaven
  • Jun 25, 2019

Two reports on cloud security were recently released: The 2019 Cloud Security Report and the Global Cloud Security Software Market report. The latter is a five-year forecast that covers 2019 through 2024. These reports showed where growth lies within the cloud security market and what challenges are presented to businesses who use or are looking to use cloud services.

Many businesses are actively transitioning to cloud services, and as a result, it's anticipated the cloud security market will grow at a CAGR of 4.98% over the next five years. In 2018, the market was valued at USD $28.1 billion, and it is anticipated to reach a market value of USD 35.6 billion by 2024.

Technology is rapidly changing and becoming more complex, leaving room for the addition of innovative technologies such as cloud services for operations and data management. In addition, there is an increasing number of expensive cloud-related cyberattacks. According to the 2018 Cost of a Data Breach Study by Ponemon Institute, the average cost of a data breach in 2018 was USD 3.86 million. The ease of cloud services use combined with the high cost and increasing rate of cloud-related attacks is driving the cloud security market to rapid growth.

The 2019 Cloud Security Report showed the drive behind why the market is experiencing such large growth, as 64 percent of respondents said data loss and leakage is their top cloud security concern.

The biggest perceived vulnerabilities to cloud security are unauthorized access through misuse of employee credentials and improper access controls accounts, and insecure interfaces and APIs accounts. Both individually accounted for 42 percent of the perceived vulnerabilities.

The Global Cloud Security Software Market report found that one of the key market trends is Intrusion Detection and Prevention Software. According to Insider Threat 2018 report, 63 percent of insider exploits are detected through IDPS.

About the Author

Kaitlyn DeHaven is the Associate Content Editor for the Infrastructure Solutions Group at 1105 Media.

Featured

  • Gaining a Competitive Edge

    Ask most companies about their future technology plans and the answers will most likely include AI. Then ask how they plan to deploy it, and that is where the responses may start to vary. Every company has unique surveillance requirements that are based on market focus, scale, scope, risk tolerance, geographic area and, of course, budget. Those factors all play a role in deciding how to configure a surveillance system, and how to effectively implement technologies like AI. Read Now

  • 6 Ways Security Awareness Training Empowers Human Risk Management

    Organizations are realizing that their greatest vulnerability often comes from within – their own people. Human error remains a significant factor in cybersecurity breaches, making it imperative for organizations to address human risk effectively. As a result, security awareness training (SAT) has emerged as a cornerstone in this endeavor because it offers a multifaceted approach to managing human risk. Read Now

  • The Stage is Set

    The security industry spans the entire globe, with manufacturers, developers and suppliers on every continent (well, almost—sorry, Antarctica). That means when regulations pop up in one area, they often have a ripple effect that impacts the entire supply chain. Recent data privacy regulations like GDPR in Europe and CPRA in California made waves when they first went into effect, forcing businesses to change the way they approach data collection and storage to continue operating in those markets. Even highly specific regulations like the U.S.’s National Defense Authorization Act (NDAA) can have international reverberations – and this growing volume of legislation has continued to affect global supply chains in a variety of different ways. Read Now

  • Access Control Technology

    As we move swiftly toward the end of 2024, the security industry is looking at the trends in play, what might be on the horizon, and how they will impact business opportunities and projections. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction. 3

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure. 3

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation. 3