Cloud Security

Report: Multi-cloud growth buoyed by rising cyber threats

Research and Markets noted in a new report that various industries including the health care sector are increasingly adopting the multi-cloud approach primarily to address cybersecurity concerns and increasingly complex regulatory standards, according to Health IT Security. The report forecasts that the multi-cloud security market across the globe would become a $10.5 billion market by 2027. Other benefits of having a multi-cloud system include scalability and flexibility. Using multi-cloud solutions allows companies to switch vendors and services as per requirements, thus giving SMEs the leverage to boost productivity and functionality. The multi-cloud deployment helps avoid vendor lock-in, evaluates the terms and conditions of each vendor cloud service, and supports profit gain, according to the report. However, cloud adoption also comes with its own security issues, with nonprofit organization ECRI noting in a separate report that cloud security risk management placed fifth in its list of health technology hazards in 2023. The group advised health care providers to assess "how a cloud provider safeguards both the functionality of its system and the confidentiality and availability of patient data. Meanwhile, Research and Markets said in its report that cloud growth will likely be slowed by the current limited availability of people with the expertise to deploy multi-cloud security solutions.

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