By Vipin Singh, Head of Technology, Housing.com, PropTiger.com, and Makaan.com
The global cloud security market size is expected to grow from USD 48.57 billion in 2022 to USD 116.25 billion by 2028; it is estimated to grow at a CAGR of 15.7% from 2022 to 2028.
As we enter the year 2023, with regard to cloud application security, it is anticipated that
more businesses will continue to employ cloud services and that multi-cloud setups would be used more frequently. As a result, there will be greater demand for security solutions that
can give internal users insight and control across various cloud environments.
A continuous emphasis on protecting cloud infrastructure and services is also anticipated,
including the usage of security tools like bot management, security groups, network access
control lists (ACLs), and web application firewalls (WAFs).
It is very evident that there will continue to be a focus on employing endpoint security
solutions to defend against malware and other threats in the area of endpoint security.
Phishing attacks have gone up more than 60% YoY and the ransomware attacks have kept
businesses on their knees.
Businesses are investing in cloud security solutions to safeguard their data and apps.
According to a recent estimate, the worldwide market for cloud security is predicted to
increase from $3.72 billion in 2019 to $12.45 billion in 2023.
Organizations must make sure that their cloud apps comply with standards like the EU’s
General Data Protection Regulation (GDPR) and the California Consumer Privacy Act
(CCPA) in order to avoid paying fines.
The 2022 Official Cybercrime Report published by Cybersecurity Ventures and supported
by eSentire, projects that the cost of cybercrime will reach $8 trillion in 2023 and reach $10.5 trillion by 2025.
Overall, it’s critical to remember that maintaining security requires ongoing monitoring,
testing, and improvement of the security posture. Additionally, it's critical to keep up with current risks and have a clear incident response strategy in place in case a security event occurs.
Here are the top forecasts for the year 2023 regarding cloud & application security,
Forecast 1: Zero trust security: As organisations work to defend their cloud and software
applications from increasingly sophisticated threats, the adoption of zero-trust security
models, which assume that all network traffic is potentially malicious and requires
authentication and authorization, is anticipated to continue growing.
Recommendation: Zero trust security paradigms, such as multi-factor authentication, micro-segmentation, and access controls based on device posture and user behavior, should be implemented by enterprises. A combination of software-based authentication should be clubbed with a hardware-based security solution to make it more effective.
Forecast 2: Enhanced threat intelligence: Threat intelligence will be essential to security as businesses continue to deal with a threat landscape that is continually changing. To
strengthen security posture, there will be an increasing focus on gathering, evaluating, and
sharing threat intelligence across businesses.
Recommendation: Organisations should put in place systems for threat intelligence
collection, analysis, and sharing. The Red Teaming activity is something where the attempt
is to combine loopholes from one system with vulnerabilities found in other systems to create a bigger threat to security, which is why the solution must be implemented by de-coupling various systems as much as possible.
Forecast 3: Security applications of artificial intelligence (AI) and machine learning (ML): AI and ML will continue to play a significant role in security by delivering real-time threat
intelligence, automating security operations and facilitating quicker reactions to attacks.
Recommendation: Businesses should think about investing in AI and ML-based security
solutions and educating security employees on how to utilise these tools successfully. For
example, advanced bot management and DDOS protection solution leverage ML/AI solution to figure out the browsing patterns of real users from the bad bots and bad actors.
Forecast 4: Security for serverless and container technologies: As serverless and container
technologies advance, there will be greater demand for security measures that can
safeguard these new deployment paradigms.
Recommendation: The current trend of moving away from self-owned or self-managed data centers or even cloud computing engines toward serverless computing requires organisations to install security tools made expressly for serverless and container
deployments and staff members should be trained on the particular security risks these
technologies provide.
Forecast 5: Increased adoption of multi-cloud and hybrid cloud environments: As
businesses look to take full advantage of cloud computing, it is anticipated that more
businesses will adopt multi-cloud and hybrid cloud environments, which will increase the
demand for security products that can provide cross-cloud protection.
Recommendation: Organizations are adopting combinations of AWS, GCP, and Azure to
create multi-cloud infrastructure for redundancy and failovers. should deploy identity and
access management (IAM) systems to manage access to cloud resources as well as
security solutions that can offer a consistent degree of protection across numerous clouds.
Employees should also be trained on the best practices for cloud security.
Forecast 6: Focus on DevSecOps: As agile development approaches and DevOps gain
popularity, there will be an increased emphasis on DevSecOps, or the practices of
integrating security into the software development process.
Recommendation: DevSecOps is a culture that incorporates security into the software
development process. It also employs automated security testing and gives developers
training and resources to assist them to understand the security ramifications of their code.
Fan or example of an automated security testing solution like GitHub Security Lab should be implemented.
Forecast 7: IoT device security should be a top priority: IoT security solutions that can
safeguard these devices and the data they produce will be more and more necessary as the
number of IoT devices in use increases. This includes managing devices securely,
transmitting data securely, and storing data securely.
Recommendation: Just imagine with the increased trend of Smart Homes and Smart
Office, the world around us is moving towards IoT, which exposes us and our living/working setup to bad actors and threats. Also, think of connected cars & wearable fitness trackers and you can get a sense of how risky it becomes if such devices are not secure. IoT security solutions, such as secure device management, safe data transfer, and secure data storage, should be implemented by enterprises, and staff members should be trained on the particular security risks these devices provide. With IoT, the security posture gets expanded really wide and solutions are required to be implemented closer to the devices in a decentralised manner.