Companies Enhance Investments in Cloud Security Measures
In the past few years Cloud Computing has become a preferred technology of data storage for businesses worldwide. Security, increased efficiency, data space, flexibility and scalability are the major benefits that drive companies to adopt cloud computing, with security being the most important consideration in many cases.
According to the annual cloud computing survey report for 2017 released by a leading B2B research firm, nearly 70 percent of businesses preferred to store data in the cloud than on a legacy system. While nearly half the organizations expect their annual spend on cloud computing to grow by 11 to 30 percent, a fifth of the businesses surveyed are expecting an increase of over 30 percent.
Growing Preference for Cloud Security
Recent upsurge in cyber-attacks and the increase in data breaches have influenced the growth of the cloud security market. Conversely, the lack of awareness and a pessimistic approach of organizations towards cloud services are inhibiting its growth.
Security provided by the Cloud is stronger than what businesses can achieve with their legacy systems. This is because Cloud service providers are more focused on data protection, providing several high-end security features such as biometric identification, surveillance cameras and redundant power sources, than individual businesses.
Physical Security, Infrastructure Security and Application-Level Security are the three elements of Cloud Security. The service provider is responsible for the physical and infrastructure security, while application-level security, which is the cause for 80 percent of the security breaches, is the responsibility of the company and its users.
Cloud security experts recommend companies to monitor threat scenarios by deploying features such as cybersecurity scanners, ensuring correct user privileges and encrypting their data and databases.
Analyst firm Gartner estimates that the market for Cloud-based security services will grow 21 percent in 2017 and reach nearly $9 billion globally by 2020.
According to the Cloud Security Solutions Forecast from Forrester Research, in the near future most companies will look at adopting commercial off-the-shelf solutions for their cloud security needs. Cloud security gateways, centralized cloud security management, hypervisor security and native IaaS/PaaS platform security are likely to be the major growth areas for cloud security.