reports that various industries may be preparing to transition to cloud security technology after witnessing the string of ransomware attacks that affected major players in a number of industries, according to analysts.
Mandeep Singh of Bloomberg Intelligence says that in addition to the rise in hacking incidents, the vulnerabilities present in remote work should also help drive the growth of the cloud security market.
“You’re going to see that really come to fruition over the next two to three years,” Singh said.
One benefit of moving to the cloud is the reduced need for certain software as companies hand over the responsibility over physical servers to their providers.
“The good news about cloud systems is that all the big cloud providers have put a lot of investment into defending infrastructure in the cloud. They may offer more protection that’s more cost-efficient,” according to Neil Daswani, co-director of the Advanced Security Certification Program at Stanford University.