World Cloud Security Day 2024: What measures organisations need to focus on, ETCIO SEA
One important element of cloud computing in today’s day and age is that of cloud security, and gradually, the world is growing more aware of its importance. Since 2019, World Cloud Security Day has been celebrated on 3rd April every year as a way to raise awareness about the importance and techniques of securing data and information stored in the cloud.
With the increasing use of cloud-based technology in both personal and professional capacities, what’s most paramount for us is understanding the latest developments in cloud security and learning how to best protect sensitive information.
Current state of the cloud security market
Cloud computing security methods are employed to ensure user and device authentication as well as data privacy, and to decrease the risk of data loss and breaches. The primary objective of cloud security is to guarantee the confidentiality, integrity, and availability of applications, data, and IT infrastructure in cloud environments. Therefore, its market is undoubtedly expanding.
Let’s consider the following stats on the cloud security market in Southeast Asia, as per Statista’s market report:
- In 2024, the cloud security market’s revenue is projected to reach $36.61 million in Southeast Asia (SEA), in a global market size of $2.31 billion.
- Revenue is expected to show an annual growth rate of 39.46 percent, resulting in a market volume of $138.50 million by 2028 for SEA.
- In global comparison, most revenue will be generated in the United States – $962.2 million in 2024.
Industries and regions embracing cloud security solutions
The cloud security market experienced substantial growth due to the rising adoption of multi-cloud environments, the expansion of DevSecOps practices, increased utilisation of AI and ML for cloud security, and the growing trend of BYOD and CYOD, which led to an increased demand for cloud security solutions.
As per a Markets and Markets report last year, the retail and e-commerce industry is projected to experience the highest CAGR in the cloud security market till 2028 due to the increased adoption of cloud technologies for digital transformation. Data protection has become a priority, with more sensitive customer data and financial transactions being processed in the cloud. Retailers also face a higher risk of cyberattacks and data breaches, leading to the demand for advanced cloud security solutions.
The Asia Pacific region demonstrates solid technological adoption, with a mix of developed and growing economies like China, Japan, India, Australia and New Zealand, and Singapore. Additionally, the governments in the region actively promote internet accessibility, driving demand for cloud security solutions.
Some recent headlines bolstering cloud security
With the increasing industry use cases of cloud security, we can see various companies partnering for and developing cloud security solutions worldwide, and especially in the Asia Pacific region. Here are some recent examples of the same.
CrowdStrike acquires cloud data runtime security firm Flow Security
Following the closing of the acquisition earlier last month, CrowdStrike plans to fully deliver native Flow Security DSPM capabilities in Falcon Cloud Security as part of the Falcon XDR platform, enabling customers to consolidate cloud point solutions and protect the entire cloud estate.
SentinelOne to expand cloud security capabilities with acquisition of PingSafe
Announced on 3rd January, the acquisition of PingSafe’s cloud-native application protection platform (CNAPP), when combined with SentinelOne’s cloud workload security and cloud data security capabilities, is expected to provide companies with a fully integrated platform that drives better coverage, hygiene, and automation across their entire cloud footprint.
Palo Alto Networks acquires cloud security start-up Dig Security
The large volumes of data stored in the cloud require data security solutions that are purpose-built to handle the complexities of cloud environments. As revealed in December 2023, Dig’s cutting-edge capabilities, seamlessly integrated into Palo Alto Networks Prisma Cloud platform, will provide organisations with near-real-time data protection across the entire cloud estate.
How organisations can ensure cloud security cover
Identity and access management (IAM) is always the responsibility of an organisation rather than a cloud service provider, and misconfigurations can undo even the most secure products. According to Palo Alto Networks’ latest Cloud Report, Volume 7, at least three-quarters (76 percent) of organisations don’t enforce MFA for console users, and 58 percent of organisations don’t enforce MFA for root or admin users.
While every organisation has a small set of risky behaviours that are repeatedly observed in their cloud workloads, that also means that a few changes will make a big difference in their overall security. In most organisations’ cloud environments, 5 percent of security rules trigger 80 percent of alerts.
Cloud computing is not going away anytime soon, as it offers a lot of productivity and security benefits for organisations that adopt it. For those who move quickly to improve their security, they have a rare chance to get ahead of threat actor activity. According to the report, there are several things companies can focus on to make a big difference in their cloud security:
• Enforcing MFA. Having proper authentication on cloud service accounts is a way to make things harder for threat actors to access your environment.
• Protecting data. According to the report’s previous version, personally identifiable information (PII), financial records, or intellectual property, are found in 66 percent of storage buckets and 63 percent of publicly exposed storage buckets. Therefore, both insider and external attacks put sensitive data at a risk.
• Abnormal activity monitoring. If services within an organisation’s cloud account are being accessed by new and unusual IP addresses or over unusual ports, strong monitoring that is configured to alert on this activity is imperative.
• Reacting quickly. To limit damage significantly, organisations must move quickly to address security alerts. Security teams take on average about 6 days to resolve a security alert. Over 60 percent of organisations take longer than four days to resolve security issues.
• Implementing the principle of least privilege. In Volume 6 of the report, it was found that 99 percent of the cloud users, roles, services, and resources were granted excessive permissions! Granting least-privilege permissions is the most effective way to minimise the impact of security incidents.
One thing is for sure, threat actors are well aware of the value of cloud accounts in distributed environments, and they’re willing to take roundabout ways to get access. Thus, this World Cloud Security Day 2024, organisations must immediately urge the implementation of strong security measures and practices for their cloud!
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In today’s cloud landscape, it’s paramount to understand latest developments in cloud security and learn how to best protect sensitive information. Here’s how companies should celebrate World Cloud Security Day 2024!
One important element of cloud computing in today’s day and age is that of cloud security, and gradually, the world is growing more aware of its importance. Since 2019, World Cloud Security Day has been celebrated on 3rd April every year as a way to raise awareness about the importance and techniques of securing data and information stored in the cloud.
With the increasing use of cloud-based technology in both personal and professional capacities, what’s most paramount for us is understanding the latest developments in cloud security and learning how to best protect sensitive information.
Current state of the cloud security market
Cloud computing security methods are employed to ensure user and device authentication as well as data privacy, and to decrease the risk of data loss and breaches. The primary objective of cloud security is to guarantee the confidentiality, integrity, and availability of applications, data, and IT infrastructure in cloud environments. Therefore, its market is undoubtedly expanding.
Let’s consider the following stats on the cloud security market in Southeast Asia, as per Statista’s market report:
- In 2024, the cloud security market’s revenue is projected to reach $36.61 million in Southeast Asia (SEA), in a global market size of $2.31 billion.
- Revenue is expected to show an annual growth rate of 39.46 percent, resulting in a market volume of $138.50 million by 2028 for SEA.
- In global comparison, most revenue will be generated in the United States – $962.2 million in 2024.
Industries and regions embracing cloud security solutions
The cloud security market experienced substantial growth due to the rising adoption of multi-cloud environments, the expansion of DevSecOps practices, increased utilisation of AI and ML for cloud security, and the growing trend of BYOD and CYOD, which led to an increased demand for cloud security solutions.As per a Markets and Markets report last year, the retail and e-commerce industry is projected to experience the highest CAGR in the cloud security market till 2028 due to the increased adoption of cloud technologies for digital transformation. Data protection has become a priority, with more sensitive customer data and financial transactions being processed in the cloud. Retailers also face a higher risk of cyberattacks and data breaches, leading to the demand for advanced cloud security solutions.
The Asia Pacific region demonstrates solid technological adoption, with a mix of developed and growing economies like China, Japan, India, Australia and New Zealand, and Singapore. Additionally, the governments in the region actively promote internet accessibility, driving demand for cloud security solutions.
Some recent headlines bolstering cloud security
With the increasing industry use cases of cloud security, we can see various companies partnering for and developing cloud security solutions worldwide, and especially in the Asia Pacific region. Here are some recent examples of the same.
CrowdStrike acquires cloud data runtime security firm Flow Security
Following the closing of the acquisition earlier last month, CrowdStrike plans to fully deliver native Flow Security DSPM capabilities in Falcon Cloud Security as part of the Falcon XDR platform, enabling customers to consolidate cloud point solutions and protect the entire cloud estate.
SentinelOne to expand cloud security capabilities with acquisition of PingSafe
Announced on 3rd January, the acquisition of PingSafe’s cloud-native application protection platform (CNAPP), when combined with SentinelOne’s cloud workload security and cloud data security capabilities, is expected to provide companies with a fully integrated platform that drives better coverage, hygiene, and automation across their entire cloud footprint.
Palo Alto Networks acquires cloud security start-up Dig Security
The large volumes of data stored in the cloud require data security solutions that are purpose-built to handle the complexities of cloud environments. As revealed in December 2023, Dig’s cutting-edge capabilities, seamlessly integrated into Palo Alto Networks Prisma Cloud platform, will provide organisations with near-real-time data protection across the entire cloud estate.
How organisations can ensure cloud security cover
Identity and access management (IAM) is always the responsibility of an organisation rather than a cloud service provider, and misconfigurations can undo even the most secure products. According to Palo Alto Networks’ latest Cloud Report, Volume 7, at least three-quarters (76 percent) of organisations don’t enforce MFA for console users, and 58 percent of organisations don’t enforce MFA for root or admin users.
While every organisation has a small set of risky behaviours that are repeatedly observed in their cloud workloads, that also means that a few changes will make a big difference in their overall security. In most organisations’ cloud environments, 5 percent of security rules trigger 80 percent of alerts.
Cloud computing is not going away anytime soon, as it offers a lot of productivity and security benefits for organisations that adopt it. For those who move quickly to improve their security, they have a rare chance to get ahead of threat actor activity. According to the report, there are several things companies can focus on to make a big difference in their cloud security:
• Enforcing MFA. Having proper authentication on cloud service accounts is a way to make things harder for threat actors to access your environment.
• Protecting data. According to the report’s previous version, personally identifiable information (PII), financial records, or intellectual property, are found in 66 percent of storage buckets and 63 percent of publicly exposed storage buckets. Therefore, both insider and external attacks put sensitive data at a risk.
• Abnormal activity monitoring. If services within an organisation’s cloud account are being accessed by new and unusual IP addresses or over unusual ports, strong monitoring that is configured to alert on this activity is imperative.
• Reacting quickly. To limit damage significantly, organisations must move quickly to address security alerts. Security teams take on average about 6 days to resolve a security alert. Over 60 percent of organisations take longer than four days to resolve security issues.
• Implementing the principle of least privilege. In Volume 6 of the report, it was found that 99 percent of the cloud users, roles, services, and resources were granted excessive permissions! Granting least-privilege permissions is the most effective way to minimise the impact of security incidents.
One thing is for sure, threat actors are well aware of the value of cloud accounts in distributed environments, and they’re willing to take roundabout ways to get access. Thus, this World Cloud Security Day 2024, organisations must immediately urge the implementation of strong security measures and practices for their cloud!
One important element of cloud computing in today’s day and age is that of cloud security, and gradually, the world is growing more aware of its importance. Since 2019, World Cloud Security Day has been celebrated on 3rd April every year as a way to raise awareness about the importance and techniques of securing data and information stored in the cloud.
With the increasing use of cloud-based technology in both personal and professional capacities, what’s most paramount for us is understanding the latest developments in cloud security and learning how to best protect sensitive information.
Current state of the cloud security market
Cloud computing security methods are employed to ensure user and device authentication as well as data privacy, and to decrease the risk of data loss and breaches. The primary objective of cloud security is to guarantee the confidentiality, integrity, and availability of applications, data, and IT infrastructure in cloud environments. Therefore, its market is undoubtedly expanding.
Let’s consider the following stats on the cloud security market in Southeast Asia, as per Statista’s market report:
- In 2024, the cloud security market’s revenue is projected to reach $36.61 million in Southeast Asia (SEA), in a global market size of $2.31 billion.
- Revenue is expected to show an annual growth rate of 39.46 percent, resulting in a market volume of $138.50 million by 2028 for SEA.
- In global comparison, most revenue will be generated in the United States – $962.2 million in 2024.
Industries and regions embracing cloud security solutions
The cloud security market experienced substantial growth due to the rising adoption of multi-cloud environments, the expansion of DevSecOps practices, increased utilisation of AI and ML for cloud security, and the growing trend of BYOD and CYOD, which led to an increased demand for cloud security solutions.
As per a Markets and Markets report last year, the retail and e-commerce industry is projected to experience the highest CAGR in the cloud security market till 2028 due to the increased adoption of cloud technologies for digital transformation. Data protection has become a priority, with more sensitive customer data and financial transactions being processed in the cloud. Retailers also face a higher risk of cyberattacks and data breaches, leading to the demand for advanced cloud security solutions.
The Asia Pacific region demonstrates solid technological adoption, with a mix of developed and growing economies like China, Japan, India, Australia and New Zealand, and Singapore. Additionally, the governments in the region actively promote internet accessibility, driving demand for cloud security solutions.
Some recent headlines bolstering cloud security
With the increasing industry use cases of cloud security, we can see various companies partnering for and developing cloud security solutions worldwide, and especially in the Asia Pacific region. Here are some recent examples of the same.
CrowdStrike acquires cloud data runtime security firm Flow Security
Following the closing of the acquisition earlier last month, CrowdStrike plans to fully deliver native Flow Security DSPM capabilities in Falcon Cloud Security as part of the Falcon XDR platform, enabling customers to consolidate cloud point solutions and protect the entire cloud estate.
SentinelOne to expand cloud security capabilities with acquisition of PingSafe
Announced on 3rd January, the acquisition of PingSafe’s cloud-native application protection platform (CNAPP), when combined with SentinelOne’s cloud workload security and cloud data security capabilities, is expected to provide companies with a fully integrated platform that drives better coverage, hygiene, and automation across their entire cloud footprint.
Palo Alto Networks acquires cloud security start-up Dig Security
The large volumes of data stored in the cloud require data security solutions that are purpose-built to handle the complexities of cloud environments. As revealed in December 2023, Dig’s cutting-edge capabilities, seamlessly integrated into Palo Alto Networks Prisma Cloud platform, will provide organisations with near-real-time data protection across the entire cloud estate.
How organisations can ensure cloud security cover
Identity and access management (IAM) is always the responsibility of an organisation rather than a cloud service provider, and misconfigurations can undo even the most secure products. According to Palo Alto Networks’ latest Cloud Report, Volume 7, at least three-quarters (76 percent) of organisations don’t enforce MFA for console users, and 58 percent of organisations don’t enforce MFA for root or admin users.
While every organisation has a small set of risky behaviours that are repeatedly observed in their cloud workloads, that also means that a few changes will make a big difference in their overall security. In most organisations’ cloud environments, 5 percent of security rules trigger 80 percent of alerts.
Cloud computing is not going away anytime soon, as it offers a lot of productivity and security benefits for organisations that adopt it. For those who move quickly to improve their security, they have a rare chance to get ahead of threat actor activity. According to the report, there are several things companies can focus on to make a big difference in their cloud security:
• Enforcing MFA. Having proper authentication on cloud service accounts is a way to make things harder for threat actors to access your environment.
• Protecting data. According to the report’s previous version, personally identifiable information (PII), financial records, or intellectual property, are found in 66 percent of storage buckets and 63 percent of publicly exposed storage buckets. Therefore, both insider and external attacks put sensitive data at a risk.
• Abnormal activity monitoring. If services within an organisation’s cloud account are being accessed by new and unusual IP addresses or over unusual ports, strong monitoring that is configured to alert on this activity is imperative.
• Reacting quickly. To limit damage significantly, organisations must move quickly to address security alerts. Security teams take on average about 6 days to resolve a security alert. Over 60 percent of organisations take longer than four days to resolve security issues.
• Implementing the principle of least privilege. In Volume 6 of the report, it was found that 99 percent of the cloud users, roles, services, and resources were granted excessive permissions! Granting least-privilege permissions is the most effective way to minimise the impact of security incidents.
One thing is for sure, threat actors are well aware of the value of cloud accounts in distributed environments, and they’re willing to take roundabout ways to get access. Thus, this World Cloud Security Day 2024, organisations must immediately urge the implementation of strong security measures and practices for their cloud!
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