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

  • Freedom of Choice

    In today's security landscape, we are witnessing a fundamental transformation in how organizations manage digital evidence. Law enforcement agencies, campus security teams, and large facility operators face increasingly complex challenges with expanding video data, tightening budget constraints and inflexible systems that limit innovation. Read Now

  • Accelerating a Pathway

    There is a new trend touting the transformational qualities of AI’s ability to deliver actionable data and predictive analysis that in many instances, seems to be a bit of an overpromise. The reality is that very few solutions in the cyber-physical security (CPS) space live up to this high expectation with the one exception being the new generation of Physical Identity and Access Management (PIAM) software – herein recategorized as PIAM+. Read Now

  • Protecting Your Zones

    It is game day. You can feel the crowd’s energy. In the parking lot. At the gate. In the stadium. On the concourse. Fans are eager to party. Food and merchandise vendors ready themselves for the rush. Read Now

  • Street Smarts

    The ongoing acceptance of AI and advanced data analytics has allowed surveillance camera technology to shift from being a tactical tool to a strategic business solution. Combining traditional surveillance technology with AI-based data-driven insights can streamline transportation systems, enhance traffic management, improve situational awareness, optimize resource allocation and streamline emergency response procedures. Read Now

  • Midtown Manhattan Shooting Kills 4, Including NYPD Officer

    Four people were killed, including a NYPD officer, in a midtown Manhattan shooting on Monday. That’s according to CNN. Read Now

Most   Popular

New Products

  • 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.

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.”