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Top Cloud Security Statistics in 2024

May 29, 2024 / 10 minute read

Discover cloud security statistics and trends for 2024 to stay informed and prepared to safeguard your cloud infrastructure.

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Over the past few years, the cloud has evolved from an emerging technology to an indispensable backbone for modern businesses. However, the cloud is not inherently secure. Instead, cloud security is a shared responsibility between the customer and the cloud provider.

Moreover, Infrastructure-as-a-Service (IaaS) offerings have vulnerabilities like any other IT environment. It was reported that 45% of breaches are cloud-based, and 69% of organizations admitted to experiencing data breaches or exposures due to multi-cloud security configurations. How organizations keep up with the latest threats and adapt to evolving trends will depend on their cloud security strategy.

A cloud security policy is a formal set of guidelines and processes for protecting data, cloud-based infrastructure, and applications. As businesses increasingly rely on cloud-based strategies, a strong cloud security policy cannot be emphasized enough.

This article will explore relevant cloud data security trends and statistics, industry threats, cloud security users' statistics, and more.


Editor’s Choice

  • It was recorded that 45% of breaches are cloud-based,

  • 80% of companies have experienced cloud security incidents in the last year

  • The cloud security market was valued at $20.54 billion worldwide in 2022.

  • IBM holds the most significant market share at 21%

  • Data breaches exposed more than 8 million records worldwide during the fourth quarter of 2023.

  • Facebook experienced a massive data breach, exposing 530 million personal data

  • Large enterprises hold the most significant cloud security market with 79%.


What Are the Latest Statistics for Cloud Data Security?

Hosting IT in the cloud offers numerous advantages, including improved business continuity, flexibility, and cost savings. 76% of enterprises are now integrating two or more cloud providers. 35% of industries have more than 50% of their workloads in the cloud, while 29% expressed that they anticipate moving their data to the cloud. However, a recent survey shows that 96% of organizations worldwide have experienced challenges in their cloud strategy.

Another survey from Netgain Technologies shows that 80% of companies have experienced cloud security incidents in 2023, with 27% of organizations having experienced a public cloud security incident, an increase from 10% last year.

Cloud Security Industry Statistics

A recent report shows that the global cloud security market was valued at $20.54 billion in 2022. It is projected to increase by $148.3 billion by 2032, with a compound annual growth rate (CAGR) of 22.5%.

Global cloud security 2022-2032.

The growing demand for cloud security is segmented into categories, which include the following:

  • Identify and access management.

  • Data loss prevention

  • Security information and event management

  • Business continuity and disaster recovery

Discover the cloud security industry's key players, predictions, and more in the following section.

1. Cloud Security Industry Key Players

(Statista, Expertappstoday)

The widespread adoption of cloud computing solutions and services has enhanced market growth. Many market players, like Cisco Systems and IBM Corporation, have committed to implementing cloud computing security strategies based on Analytics-as-a-Service (AaaS) offerings, assisting end users in quickly tracking and controlling uncertain threats.

Market key players of cloud security.

IBM holds the most significant market share at 21%, followed by Microsoft at 16%, and Rapid7 ranks third at 10%. These Market-leading players leverage cloud security to improve their products by incorporating advanced technologies. Other key players aim to strengthen their market positions and gain a competitive advantage.

Cloud Cyber Security Threats: Insights and Data Breach Incidents

Data breaches exposed more than 8 million records worldwide during the fourth quarter of 2023. The highest data recorded was in the fourth quarter of 2020 when nearly 125 million data sets were exposed and breached. The most common causes of sensitive information loss were operating system vulnerabilities on endpoint devices.

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In 2021, 64% of users responded that data loss/leakage is their biggest concern in cloud security, along with other factors like data privacy, confidentiality, etc. Security issues become more pertinent as organizations continuously migrate workloads to the cloud. Here is the list of data security concerns consumers have.

Cloud security concerns.

Here are significant data security incident breaches that you should know.

#1: Facebook Exposed 530 million personal data in 2021.

(Facebook)

Facebook is one of the top companies in the world. Like other platforms, it is susceptible to data leaks and controversy. Since its founding in 2012, this tech giant has constantly dealt with security breaches.

In April 2021, Facebook experienced a massive data breach, exposing 530 million users’ personal data. The problem was identified in the platform's tool to sync contacts, citing hackers exploiting a vulnerability to scrape user profiles for customer data. The personal data exposed to the public includes

  • Full names

  • Phone numbers

  • Account names

  • Passwords

#2: LinkedIn Lost 700 Million Data Through a Data Scraping Breach.

(Fortune)

In 2021, hackers penetrated LinkedIn and almost 93% of the total user base, equivalent to 700 million, after a data scraping breach. Most of the information was publicly available. However, hackers have leveraged data scraping, exploited LinkedIn API, and violated its terms of service. The data exposed includes:

  • Full names

  • Phone numbers

  • Email addresses (not publicly available)

  • Usernames

  • Geolocation records

  • Genders

  • Linked details on profile

Although the data is publicly available, it raises concerns among users and information security regarding how third parties can employ information to create an Open Source Intelligence (OSINT) database.

#3: Toyota Exposed 260,000 Customer Data in 2023.

(CSOOnline)

Due to a misconfigured cloud environment, Toyota exposed 260,000 customers’ data in June of 2023. Although the breach could not expose massive amounts of sensitive data, it highlighted that simple misconfiguration can give opportunities for hackers.

This incident highlighted the duration of breach discoverability. According to Toyota, data was exposed from February 2015 to May 2023, with the in-vehicle device ID, map data updates, updated data creation dates, and map information and its creation date potentially being accessible externally.

#4: Microsoft Exchange Server Exposed 30,000 Businesses due to Cyber Attack in 2021.

(Upguard)

In 2021, the US experienced the most significant cyberattacks, with over 30,000 businesses affected by the sweeping attack on Microsoft Exchange servers – one of the most considerable email servers worldwide. Hackers exploited four different zero-day vulnerabilities and enabled them to gain unauthorized access to emails ranging from small businesses to local governments.

The hackers took advantage of the coding errors and could fully control vulnerable systems. This also allowed them to access data, deploy malware attacks, gain access to other systems, and take over the company server. Hackers could break into each company's servers through the internet connection and locally managed systems on-premises.

#5: Real Estate Wealth Network leaked 1.5 billion records in 2023

(Upguard)

In December 2023, Real Estate Wealth Networks experienced a significant leak in US history, with more than 1.5 billion records in their database to the public. The database contained nearly 1.16 TB of data, which was exposed for an unknown period due to having non-password-protected folders and system access. Among the exposed data contained:

  • Names, addresses, phone numbers

  • Tax IDs and other tax information

  • Court judgements

  • Buyer and seller information

  • Mortgage information

  • Property history

  • Obituary information

  • Bankruptcy information

  • Homeowner’s association (HOA) liens

With this information, cybercriminals could efficiently conduct social engineering attacks, commit financial fraud, or execute other cyber attacks. Additionally, information such as property ownership data could be found on major celebrities, including individuals like

  • Kylie Jenner

  • Britney Spears

  • Floyd Mayweather

  • Nancy Pelosi

Cloud Security User Statistics Demographics

Cloud Security Posture Management (CSPM) tools help companies monitor and manage the security posture of cloud computing environments. The global CSPM market is anticipated to attain a market share of $15.6 billion by 2033, with a CAGR of 12.3% from 2023 to 2033. It is projected to total $4.9 billion in 2023.

The cloud database security market was worth approximately $10.13 billion in 2022 and is expected to reach around $50 billion by the end of 2029. As more industries move data and applications onto the cloud, visibility into potential security risks or configuration issues with their cloud resources is required to maintain an optimal security stance.

Global Cloud Security Posture Management Market.

To learn more about cloud security, read the following sections and discover its user demographics.

Top Cloud Security Users in the Market

(MarketUS)

Large companies invest heavily in top-notch technology to improve and streamline their productivity and efficiency. Large enterprises hold the most significant cloud security market, with 79%, and a total market share of $20.5 billion in 2022 and a growing CAGR of 22.5%. Although small and medium enterprises have a 21% market share, cloud security usage among large enterprises is significantly increasing.

Global Cloud Security Market by Enterprise.

What types of companies utilize cloud security solutions?

(Grand View Research)

The IT and telecom segment dominated other sectors with a 16.3% market share of end-users in 2022 and is projected to increase significantly by 2030. The dynamic and complex infrastructure and environment, including software, networks, and devices, contributed to the growth of this sector.

Cloud Security solutions offer flexibility and adaptability, which is necessary for maintaining security policies in this ever-evolving landscape. Furthermore, the growth of IoT devices and 5G in the IT and telecom sectors poses novel security threats. Security measures for the cloud will need to evolve to protect the broad array of connected devices, protect private information, and ensure the integrity of IoT networks.

What part of the world uses the most cloud security solutions?

(MarketUs)

North America dominates cloud security, with a 34% market share worldwide. Due to heightened awareness of cybersecurity dangers, North American organizations are increasingly assertive in developing strong security measures.

The U.S. has massive economic power and is a global leader in various areas, including science and technology, banking, and healthcare. Additionally, businesses in North America have adopted advanced cloud security solutions due to a cultural preference for embracing innovation and reducing risks. The strategic relevance of securing important assets and maintaining a powerful cybersecurity position in the region has increased the importance of cloud security solutions.

Wrap Up

Cloud security has become an essential part of today's digital landscape. With billions of meaningful data, continuous commitment, regular updates, and new security measures, organizations must stay ahead of their competitors using the most up-to-date practices.

With several security concerns arising, cloud security remains a top priority as it delivers its promised business outcomes, including flexible capacity and scalability, increased agility, improved availability, and accelerated deployment and provisioning.

FAQs on Cloud Security Statistics

What are the statistics of cloud data security?

A recent survey shows that 80% of companies have been involved in at least one cloud security concern and incident in 2021, and 27% of organizations have experienced a public cloud security incident—up 10% from last year.

What are the statistics of cloud computing?

60% of the world's corporate data is stored in the cloud, and 3% centers around 3% of the world's energy consumption.

Are 45% of breaches cloud-based?

Yes, according to a recent survey, 45% of businesses experienced cloud-based data breaches in the past 12 months.

How secure is cloud computing?

Preventing every variety of cyberattacks is not possible with cloud security. However, a well-designed cloud security strategy extensively decreases the risk of cyber attacks.

Sources

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Riley Peronto

Director of Product Marketing

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