Accelerating Cloud Computing Adoption
The shift towards cloud computing is not just continuing; it's accelerating. With Gartner forecasting the cloud services industry to grow three times faster than overall IT services, reaching $331.2 billion by 2022, it's clear that cloud computing is reshaping the IT landscape. This growth is driven by the demand for speed, flexibility, and scalability in business operations, with SaaS applications expected to account for $143.7 billion of the market.
The drive for more data, accessible anytime and anywhere, is pushing forward not just cloud computing adoption but also a broader, more flexible internet presence and mobile device usage. This shift is creating a business environment that is more dynamic and efficient than ever before.
The Security Challenge
However, this rapid adoption comes with its challenges. The vast increase in web presence and SaaS applications brings significant cloud security concerns. A "perfect storm" is brewing, combining the rapid move to the cloud with a cybersecurity skills shortage, the dissolution of traditional network perimeters, expanding attack surfaces, and increasing regulatory demands. This storm threatens to overwhelm businesses, as seen in recent high-profile breaches.
SecureSky's Top 5 Predictions for 2020
1. Rise in Account Takeover (ATO) Attacks
Despite the adoption of Multi-Factor Authentication (MFA), ATO attacks, which were involved in 86% of SecureSky Cyber Threat Center incidents in 2019, are expected to increase. These attacks target cloud and application administrators or key business personnel to conduct fraud or launch further attacks.
2. Growth in Organized and State-Sponsored Cybercrime
These attacks will not only become more sophisticated but also double in losses, causing significant economic and political disruption.
3. User Apathy Towards Security
Despite increasing awareness of data breaches, user behavior is slow to change without proper training or personal impact. Businesses will need to foster a culture of security awareness to protect sensitive information.
4. Security Lagging Behind Innovation
As cloud providers race to innovate and meet user demands for speed and functionality, security often takes a backseat. This gap allows cybercriminals to thrive, prompting a need for improved cloud-native security features.
5. Unified Data Privacy Legislation
The U.S. is expected to take a more aggressive stance on data privacy, potentially unifying legislation to streamline compliance and possibly surpassing international standards like the GDPR. This move could see large businesses endorsing federal legislation to simplify the regulatory landscape.
Looking Ahead
As we move into 2020 and beyond, SecureSky is committed to addressing the evolving challenges businesses face in cloud security. By focusing on innovative solutions and strategic partnerships, we aim to support our clients through the complexities of cloud adoption and ensure their operations remain secure and compliant in the face of emerging threats.
*Gartner Forecast: Public Cloud Services, Worldwide, 2016-2022, 4Q18 Update.
**DIGIDAY - Circling closer to a federal privacy law, Congress has introduced 7 privacy bills this year