Key cloud security statistics that will reshape your cloud perspectives

slandau

3 years ago

EXECUTIVE SUMMARY:

As organizations compete to succeed within the world of remote work and prepare for the next stages in digital journeys, an emphasis on cloud-enabled work infrastructure has consumed leaders’ attention. At this point, 92% of organizations host resources in the cloud. The cloud now functions as an indispensable conduit for business growth.

Nonetheless, cloud computing also presents security risks. In honor of World Statistics Day (October 20^th), see these compelling, shocking and thought-provoking cloud security statistics, which can ultimately nudge you and your decision-makers towards greater innovation, business agility and enterprise expansion.

Cloud security statistics, 2021

52% of businesses identify cloud-based services as factor in public key infrastructure growth. Businesses are increasingly reliant on public key infrastructure for identity and security purposes. More than 50% of enterprises report cloud-based services as the catalyst for public key infrastructure deployment and usage growth increases.
Cloud is the #1 preferred security technology deployment method. Organizations with limited IT staffing look to the cloud in order to develop and deploy new security strategies.
In a 12 month timeframe, organizations lost ~$6.2 million to cloud account compromises. Data shows that cloud account compromises average out to roughly 3.5% of organizational revenue in a 12 month period.
60% of infrastructure and operations (I&O) leaders are likely to experience budget-related issues on account of public cloud cost overruns. Cloud migrations are largely perceived as a worthwhile expense, but some organizations fail to properly plan out costs ahead of time. Roughly two in three I&O leaders are liable to see cloud migration cost overruns in the next three years.
31% of organizations continue to spend over $50 million on cloud infrastructure annually.
98% of enterprises have contended with a cloud security breach in the last 18 months, according to a study of 200 CISOs and security decision-makers. This represents a significant jump. In 2020, “only” 20% of organizations experienced cloud security incidents.
72% of information security leaders state that cloud computing represents a top digital transformation priority.
~90% of data breaches target external cloud assets (servers), according to Verizon’s 2021 Data Breach Investigations Report (DBIR).
Broadly speaking hybrid cloud data breaches cost organizations $1.19 million less than data breaches targeting public clouds. Information from the IBM and the Ponemon Institute’s 2021 Cost of a Data Breach Report show that data breaches in the hybrid space cost organizations an average of $3.61 million.
65% of cloud network security breaches occur as a result of user errors. Misconfigurations remain as a significant, persistent issue for many information security teams.
30% of businesses fail to apply adequate security controls. Proper security protects cloud environments against attacks, limiting business losses and liabilities.
83% of cloud-based security breaches derive from access vulnerabilities. And, as many as 60% of enterprises with 10,000 employees or more state that access represents a primary reason for cloud breaches.

For the full story, click here or see Cyber Talk’s past cloud security coverage. Lastly, to get cutting-edge insights, analysis and resources in your inbox each week, sign up for the Cyber Talk newsletter.