Experts Predictions For The Future Of Cloud Security In India In 2023
We have experienced seismic changes in how businesses work and operate in the postpandemic era. Remote and hybrid work setups, along with the digitalization of processes, have seen organisations through a myriad of transformations. One of the major changes that disrupted industries in this era was the migration to the cloud. Increasing workplace productivity, gaining a competitive edge, and enhancing data privacy and security were the key drivers of this change. As per a joint report of Nasscom and EY, 63 percent of large enterprises have already increased cloud adoption from the previous year. Demonstrating the growing importance of cloud computing in organisations throughout India. However, as the cloud ecosystem matures, the systems, technologies, and services that give the cloud its power can also become a source of vulnerability, which is why cloud security has become vital.
Cloud Security in 2023
Trends Emerging in India
India has risen to the top of the list of nation's frequently attacked and breached, claims a study released by Indus face. As a result, organisations in India should modernise cyber security operations in which they understand these new ways of working, where security measures, perimeters, and trust factors are discussed in realtime. Every cloud conversation in an organisation should evolve into a security conversation. The need for cyber security is surging as the business environment shifts to cloud and online management. Let's dive into a few of the trends that have emerged.
The need for cyber security is surging as the business environment shifts to cloud and online management
Increasing Concerns for Cloud Security
Systemic attacks and ransomware have become increasingly common in cyber security attacks that demand a ransom. In response to the attacks, Indian organisations are acting to strengthen the cloud security infrastructure. Due to greater options for accessibility and workload offsetting, the majority of businesses are expected to transition to a hybrid cloud environment in the near future. Smaller businesses are anticipated to collaborate with reputable third parties who have experience with cloud deployments, privacy, and security.
Additionally, it is anticipated that the adoption of open source databases like PostgreSQL will continue to rise to address security concerns, trusted for its quarterly security and bug fixes, as well as its support from a rich community that publicly vets the code and mitigates risks. Overall, it is predicted that this year's spending on cloud security will significantly rise. As a result, in India, the cloud security subsegment is anticipated to grow by 42.02 percent (2023-2027), with a market value of $110.70 million in 2027, according to Statista.
More Focus on TDE (Transparent Data Encryption)
In the current environment, if data is misused, an organization's survival is at risk. The widest possible range of threats can affect data, including weak authentication, backup data exposure, denial of service, etc. According to a study by IBM and Ponemon Research Institute, India alone experienced a staggering 29,500 data breaches between March 2021 and March 2022, with the average cost per record of a data breach reaching an eleven-year high. Its evident data security has become the need of the hour today. Data encryption needs to evolve into a best practice as large businesses in India accelerate their cloud journey and grow more concerned about data security.
TDE, or transparent data encryption, is being considered by organisations to prevent unauthorised access to private databases, reduce the cost of managing users, and simplify privacy management. TDE aids database administrators by encrypting databases on hard drives and on any backup media to address potential threats to data security. Additionally, TDE is likely to emerge as India's best option for bulk encryption to satisfy corporate data security standards or regulatory compliance. As a result, we can forecast that this year will see more TDE investments.
CISOs will Gain Prevalence
Establishing trusted environments will be a business priority in 2023 in order to ensure the confidentiality, integrity, and availability of cloud platforms. In such situations, Chief Information Security Officers (CISOs) have a key role to play in safeguarding the data increasingly stored in the cloud and mitigating cyber security threats, while ensuring compliance with IT regulations, standards, and policies. CISOs have started working closely with key stakeholders across the organisation to ensure the security of the entire business, including supply chain, third-party security, applications that evaluate vendors, and more. As a result of their extensive functionality, they are likely to become more prevalent in Indian organisations this year as they have in other parts of the world.
All Things Considered
While business adoption of the cloud is growing, security is an area that must be enhanced. Often, effective security control frequently takes a backseat as organisations quickly transform into digital businesses. However, this should not be the case, and the best cloud security practices must be used by businesses to manage potential threats. India's organisations today need unified, coherent cloud security strategies as they aggressively adopt the cloud. Businesses that prioritise security must strike a balance between using important cloud services and safeguarding sensitive data. Today, cloud security services are becoming critical to creating value across the board, from consumer experiences to business intelligence. In India, cloud security is now a crucial component of business enablement, and is going beyond the functionality of just protecting the cloud.