Data security in cloud computing in USA & cybersecurity in 2021
Hello my dear readers of the site star-comp.com, in this article, we will talk about data security in cloud computing & cybersecurity!
Are we still years away from the practical use of quantum computers, or are we waiting for a breakthrough?
By 2025, there will be an urgent need for data driven privacy & security due to the influx of cybercrime.
- Users will have a basic requirement-to protect their important information resources by implementing technologies to increase privacy
Cybersecurity or information security (IS) is a combination of different technologies & processes that are designed to protect networks, devices, & data from attacks or unauthorized access.
Data security in cloud computing & cybersecurity market 2021 review
In 2020, the market for information security or cybersecurity amounted to 156.24 billion US dollars.
It is expected to reach $ 352.25 billion by 2026, with an average annual growth rate of 14.5%.
- The trends of IoT (Internet of Things), BYOD (“bring your own device”), AI (artificial intelligence) & machine learning in information security will grow.
According to the US Center for Strategic & International Studies & McAfee, cybercrime, which includes data corruption & destruction, money theft, loss of property, theft of intellectual property, etc., currently costs the world almost 600 billion US dollars annually, which is 0.8% of the total global GDP.
The introduction of M2M (machine-to-machine interaction), IoT compounds stimulate the information security market, as new business models & applications are focused on cost reduction & increase in the number of connected devices (cars, counters, consumer electronics, etc.)
- It is expected that by 2025 there will be about 30 of smart cities, 50% of which are located in North America & Europe. This will require effective information security measures & data security in cloud computing of cours!
The COVID 19 has led to an increase in the use of video communication platforms around the world!
The COVID-19 outbreak has led to an increase in the use of video communication platforms around the world. According to Checkpoint Security, more than 1,700 new domains have been registered since january 2020, 25% of which were registered in the first week of March 2020.
The US Department of Homeland Security & the National Cyber Security Center of the United Kingdom noted that they are experiencing a huge increase in phishing, malware distribution, registration of new domains, attacks on remote work infrastructures using COVID-19 baits.
The high degree of use of traditional authentication methods and the low readiness of businesses for transformation make it difficult for the market to grow.
- In a market scenario, data security in cloud computing experts recommend using facial recognition & biometric identification to log in, while more than 80% of companies use usernames & passwords.
Rapid deployment of web & cloud applications is a factor contributing to the growth of the market.
The growing need for businesses to reduce risk and strictly comply with regulatory requirements is also driving the market for cybersecurity solutions & services.
The increase in the frequency of cyber attacks worldwide is an additional factor contributing to the growth of the market.
- The limited security budget among small and medium-sized businesses is a factor constraining the growth of the market.
The growing demand for cybersecurity solutions & services from the banking, financial & insurance, IT, & telecommunications sectors offers great opportunities for cyber service providers in the global market. Read also my post – Data security news.
Cybersecurity – fashion trend or protection
With the development of technologies such as blockchain, online transactions, and digital file sharing platforms, the variety of cyber threats is constantly growing.
- According to a Verizon report on data leaks published in 2020, 86% of all violations were committed on a financial basis, 22% were related to phishing. Of these, 37% are theft and use of credentials.
Due to the increased number of virus attacks, cybercrime and network threats, states and large corporations have begun to pay increased attention to data security in cloud computing protection and privacy.
Governments and regulators have established rules such as the GDPR (General Data Protection Regulation in the EU), the California Consumer Privacy Act, the NIRAA (Health Insurance Mobility and Accountability Act), and the Electronic Communications Privacy and Data Protection Act.
Bank of England’s Real-Time Gross Settlement Update new program
Companies that do not comply with such obligations may face serious penalties & risk tarnishing their reputation. Regulators and government agencies in developed countries are also actively working with cybersecurity providers to implement standards for reliability and data protection.
- The most notable global infrastructure upgrade project is the Bank of England’s Real-Time Gross Settlement Update (RTGS2) Program.
Many central banks around the world are closely monitoring it, and the project is expected to be completed by 2024. Among the main principles that define RTGS2 is a high level of sustainability and a combination of current needs with prospects.
Notably, the use of ” distributed ledger technology “(DLT) for blockchain was rejected due to insufficient”maturity”. So far, this is all the news about data security in cloud computing and cybersecurity. Read also my article: Data security news, newest articles today, stories, notes 2021.