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

  • The Future is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reason. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. But as the number of cameras grows and resolutions push from HD to 4K and beyond, the cloud’s limits are becoming unavoidable. Bandwidth bottlenecks. Latency lags. Rising storage costs. These are not abstract concerns. Read Now

  • The Impact of Convergence Between IT and Physical Security

    For years, the worlds of physical security and information technology (IT) remained separate. While they shared common goals and interests, they often worked in silos. Read Now

  • Unlocking Trustworthy AI: Building Transparency in Security Governance

    In situations where AI supports important security tasks like leading investigations and detecting threats and anomalies, transparency is essential. When an incident occurs, investigators must trace the logic behind each automated response to confirm its validity or spot errors. Demanding interpretable AI turns opaque “black boxes” into accountable partners that enhance, rather than compromise, organizational defense. Read Now

  • Seeking Innovative Solutions

    Denial, Anger, Bargaining, Depression and Acceptance. You may recognize these terms as the “5 Phases” of a grieving process, but they could easily describe the phases one goes through before adopting any new or emerging innovation or technology, especially in a highly risk-averse industry like security. However, the desire for convenience in all aspects of modern life is finally beginning to turn the tide from old school hardware as the go-to towards more user-friendly, yet still secure, door solutions. Read Now

  • Where AI Meets Human Judgment

    Artificial intelligence is everywhere these days. It is driving business growth, shaping consumer experiences, and showing up in places most of us never imagined just a few years ago. Read Now

Most   Popular

New Products

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file.

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.