80+ Cloud Security Statistics For 2024
Pansy
Jul 25, 2024
The adoption of cloud infrastructure for businesses was rather quick. Cloud offers more flexibility to businesses at lower costs and higher efficiency. But could it also lead to increased security issues for your business?
82% of breaches involved cloud-stored data. Cloud security breaches have been on the rise for quite a while now. Plus, with the advent of technology, cyber threats are evolving faster than ever. This calls for understanding the trends, breaches, and challenges in the cloud.
We have collected the latest cloud security statistics sourced globally so that you can grasp the impact breaches can have on your business. The following statistics have been derived from global reports and other third-party sources.
Getting to the crux of it: Top cloud security statistics
According to Gartner research, over 70% of companies have migrated at least some workloads to the public cloud.
However, cloud service providers have become attractive targets for cybercriminals. Hackers often bypass common security protocols, such as multi-factor authentication (MFA), gaining unauthorized access to various businesses’ emails and cloud files.
The years after the pandemic saw a huge boom in the frequency of cloud security attacks. Let’s examine the supporting cloud security statistics.
- 80% of organizations had a serious cloud security issue in the year 2021. (Snyc’s State of Cloud Security report)
- 58% of developers and security professionals expect higher risk in cloud security next year (2024). (Sync)
- Cloud security is a major concern for 83% of organizations in 2024, underscoring the need for robust measures. (Netgate)
- Data storage in the cloud experienced 82% of breaches in 2023. (IBM)
- Public sector (88%) and startups (89%) were the most affected by cloud security breaches in 2023. (Sync)
- According to findings for 2023, a significant 82% of cloud data breaches implicated data stored in the cloud. (StationX)
- There was a 75% increase in total cloud environment intrusions from 2022 to 2023. (Crowdstrike)
- 27% of businesses have experienced a public cloud security incident in 2024, marking a 10% increase from the previous year (2023). (Netgain Tech)
Navigating roadblocks: Top statistics on cloud security challenges
Organizations are facing major challenges regarding cloud security in 2024. The issues range from significant skill gaps, cost control to security management. These challenges require dynamic resource allocation and shared responsibilities to make operations easier for businesses on the cloud.
Traditional on-premises infrastructure required much different strategies and tools to maintain security. Cloud-native environments require new, specialized approaches like automated security monitoring, zero-trust risk management, and continuous compliance management.
The need for such tools can be better understood with the help of the following numbers around cloud security challenges.
Sync’s State of Cloud Report suggested:
- 45% of respondents in the report claim that cloud security takes up a lot of engineering resources. (Sync)
- 77% of respondents face issues due to poor training and collaboration. (Sync)
- Cloud-native approaches improve speed and agility but add complexity, affecting 41%. (Sync)
- 42% of cloud engineers think their team is mainly responsible for cloud security, but only 19% of security professionals agree. (Sync)
Another report (2024) by Cybersecurity Insiders suggested the challenges regarding cloud security:
- 54% of respondents struggled to maintain consistent regulatory standards and ensure compliance across hybrid or multi-cloud environments.
- Almost half, 49%, found it challenging to integrate cloud services into aging legacy systems.
- 41% of respondents claim the absence of data governance in cloud integrations.
- Nearly three-quarters or 71% of respondents, indicated a lack of skilled cybersecurity professionals for cloud security.
Apart from integrations, the report also mentioned an overwhelming 91% of respondents expressing concern about their security systems’ capability to manage zero-day attacks and unidentified risks and threats.
According to ISC 2, the global cybersecurity workforce gap is 4 million employees as of 2023. The CEO, Clar Rosso mentioned:
“While we celebrate the record number of new cybersecurity professionals entering the field, the pressing reality is that we must double this workforce to adequately protect organizations and their critical cloud assets,”
Some more numbers on the biggest challenges of cloud security:
- 70% of financial services and insurance companies have experienced deployment delays due to cloud API security concerns. (Salt security)
- Half of the respondents in a survey (50%) highlight the hijacking of accounts, services, and traffic as significant concerns in cloud environments. (Checkpoint)
- Personal cloud apps are responsible for 44% of all corporate data exfiltration attempts. (Netskope)
- Cloud misconfiguration is now seen as a top security concern by 88% of government agencies. (Bit defender)
- Cloud technologies are perceived by 70% of CIOs as reducing their level of control. (Cloudzero)
- More than half (58%) of organizations believe their current SaaS security solutions cover only half or fewer of their SaaS applications. Additionally, 7% of organizations lack any monitoring for SaaS security. (Adaptive shield)
- Over 7% of storage services housing sensitive data are publicly accessible. (Palo Alto)
The biggest threats leading to cloud security breaches
Security breaches on the cloud can have a significant impact on a business, incurring both direct and indirect costs. It not only leads to remediation expenses but also causes the business to lose customer trust, which takes a toll on its reputation.
Hence, it is important to acknowledge and be aware of what kinds of security breaches are more prevalent in the cloud environment. The following cloud security statistics related to breaches will help you prepare for such security incidents and have a resilient risk management and incident management strategy.
- Human error is responsible for 88% of cloud breaches, highlighting the need for improved training and awareness. (Fintechtimes)
- Phishing attacks constitute 25% of data breaches, making them a major threat in the cloud environment. (Netgate)
- Compromised privileged accounts account for 33% of identity-related breaches, emphasizing the importance of robust access management. (Beyond Trust)
- In 2024, phishing was the most common identity security incident, affecting 69% of organizations, up from 62% in 2023. (Beyond Trust)
- According to the IDSA, 37% of surveyed organizations reported breaches due to stolen credentials.
- 80% of breaches involve compromised or misused privileged credentials. (Forrester Research)
- A significant 74% of organizations express concerns about insider threats. (Istari)
- 53% of businesses feel that detecting insider threats has become more difficult since moving to the cloud. (Gurucul)
- Nearly half (48%) of IT professionals noted a rise in ransomware attacks, with 22% of organizations reporting an attack in the past 12 months. (Thales)
- 51% of organizations were hit by a ransomware attack in the year 2020. (Sophos)
- Among organizations affected by ransomware, 29% reported the attack originated from file downloads or emails with malicious attachments. (Sophos)
- 21% of businesses cited remote attacks on servers as the entry point for ransomware incidents. (Sophos)
- In 2024, data security breaches have surged to the forefront, accounting for 21% of reported incidents. (Cybersecurity Insider)
- Misuse of cloud services, identified by 17% of respondents, indicates a significant use of cloud resources for malicious purposes. (Cybersecurity Insider)
- Configuration and management errors, previously a major concern, are now reported less frequently at 12%. (Cybersecurity Insider)
- In 2023, 94% of businesses experienced security issues with production APIs, with 17% encountering API-related breaches. (Salt security)
- Over the past year, the share of HTTP malware downloads originating from cloud apps has surged to 55%, up from 35% in the previous period. (Netskope)
- In the first three months of this year, Cloudflare’s automated systems stopped more than 4.5 million DDoS attacks. This is a 50% increase compared to the same time last year. (Cloudflare)
- 98% businesses are concerned about supply chain compromise, 95% see VPN exploitation as a top threat, and 82% cite credential stuffing. (Netwrix)
- Insecure interfaces are cited by 52% of organizations as a major security threat in their public cloud environments. (Cloudzero)
Understanding the impact of a cloud attack
In 2021, Ponemon Institute research found that security breaches cost organizations an average of $4.24 million per incident, up 10% from 2019. Almost half of these breaches exposed customers’ personally identifiable information (PII).
Furthermore, in 2023, 86% of IT leaders reported that cloud account hijacking incidents had resulted in financial losses exceeding $500,000 for their organizations. This highlights a significant financial impact attributed to cloud security threats in cloud environments.
The impact of cloud security attacks and breaches can be seen in terms of financial losses and reputational damage. Financial losses can include:
- Ransomware payments
- Nonregulatory fines
- Legal fees for lawsuits
Cloud breaches also lead to operational disruptions which can result in indirect costs like loss of revenue during downtime or lower employee productivity in the organization. It can also make business lose third party contracts due to reputational damage.
Cloud security breaches can also lead to lost customers, difficulty attracting new ones, and damage to brand loyalty. Negative media coverage and social media backlash amplify these issues, while internally, breaches can lower employee morale and make it harder to retain top talent.
Who are the victims of cloud security breaches?
All kinds of businesses, government organizations and individuals can become victims of cloud security breaches. Cloud misconfigurations are a significant risk across all industries. However, Industries with valuable data or complex systems are more frequently targeted.
Let’s break down the victims of security breaches according to a report by Rapid7:
1. Tech companies (41%)
Tech firms are the most affected by cloud misconfiguration breaches. This could be due to their heavy reliance on cloud infrastructure. Complex systems and rapid development cycles may contribute to misconfigurations. High-value data and intellectual property make them attractive targets.
2. Healthcare organizations (20%)
Healthcare is the second most targeted industry for cloud misconfiguration breaches. Sensitive patient data makes healthcare a lucrative target for cybercriminals.
Adoption of cloud-based health records systems may increase vulnerability. Strict regulations like HIPAA make breaches particularly costly.
3. Government agencies (10%)
Government bodies face significant risks from cloud misconfigurations. Breaches can compromise national security and citizen data. Legacy systems and budget constraints may complicate proper cloud configuration.
4. Hospitality industry (6%)
Hotels and restaurants are increasingly relying on cloud-based systems. Customer data, including credit card information, is a prime target of cybercriminals worldwide. Seasonal fluctuations in staffing may lead to inconsistent security practices.
5. Finance sector (6%)
Financial institutions hold valuable financial and personal data making them a lucrative target for hackers and attackers. The strict regulations in this industry make breaches extremely costly. Furthermore, its complex systems and need for rapid transactions may lead to increasing incidents.
6. Other Industries (17%)
The remaining breaches affect a variety of sectors like retail, education, business services, telecoms and other unknown sectors. This highlights that no industry is immune to cloud security risks. This poses a problem for smaller industries that may have less resources for robust cloud security.
Welcoming a new age: Cloud security trends for 2024
Current cloud security trends indicate significant projected growth in end-user spending on public cloud services. It is not just enterprises; companies of all sizes ranging from various industries are increasingly investing in cloud solutions to drive digital transformation.
We’ve compiled a list of statistics that contribute to this trend of cloud computing and how companies are benefiting from it.
- It is expected, by 2026, that 10% of large enterprises will have implemented a mature and measurable zero-trust program, a significant increase from less than 1% today. (Gartner predictions)
- The global AI in Cybersecurity Market was valued at $22.4 billion in 2023 and is projected to grow at a CAGR of 21.9% to reach $60.6 billion by 2028. (Markets and markets)
- In a global survey, 75% of respondents indicated that 40% of data stored in the cloud is now classified as sensitive, compared to 49% of respondents in 2022. (Thales)
- 87% of businesses have adopted a multi-cloud strategy. (Flexera)
- 72% of companies are employing a hybrid approach, integrating both public and private clouds. (Flexera)
- The Identity and Access Management (IAM) market is projected to increase from USD 13.4 billion in 2022 to USD 25.6 billion by 2027. (Global News Wire)
- Amazon, IBM, Google, and Microsoft have launched commercial quantum-computing cloud services, showcasing rapid development in their quantum capabilities. (KPMG)
- 55% of malware downloads from HTTP/HTTPS in the Q1 of 2023 originated from wide-used cloud applications. (Netskope)
- The adoption of SaaS Security Posture Management (SSPM) solutions has nearly tripled, rising from 17% in 2022 to 44% in 2023. (Adaptive shield)
Apart from these, further cloud security statistics from Sync and Cybersecurity Insiders’ reports include:
- 49% of businesses report faster app and feature deployments due to cloud security improvements. (Sync)
- 48% say their security team can do more with existing resources. (Sync)
- 44% see better team collaboration from security improvements on the cloud. (Sync)
- 41% find it easier to attract and retain cloud engineering talent. (Sync)
- 47% of businesses prioritize threat detection and response. (Cybersecurity Insiders)
- Only 21% of companies focus on preventive security strategies against cyber attacks. (Cybersecurity Insiders)
- 37% of organizations prioritize compliance and regulatory adherence. (Cybersecurity Insiders)
Also read: List of Cybersecurity Statistics for 2024.
Taking strides toward a more secure future
Now that we have observed in depth the challenges and impact of cloud security, organizations have a pressing need to adopt advanced approaches to cybersecurity. Gone are the days when we could afford to implement security measures weeks or months after deployment.
Businesses should focus on a more continuous and automated approach. There should be security access controls and checks in place that constantly govern your organization’s risks and vulnerabilities while monitoring the threat landscape. A solution for this would be to adopt a comprehence tool for all your GRC (Governance, risk, and compliance) efforts.
Sprinto is a GRC automation tool that takes the heavy lifting for your cloud infrastructure while ensuring shared responsibility. It constantly monitors risks, enforces security policies, and automates compliance management across complex and hybrid cloud setups.
“Automation is a forcing function that brings cloud governance to life in the day-to-day operations of a business. Sprinto at its core is an automation engine. It automates your ability to keep track of security controls.”
– Meeta Sharma, Product Marketing Lead, Sprinto.
Using Sprinto, your business can stay nimble and innovative without compromising on security. You can constantly monitor your security controls while keeping your tech toolstack intact. It’s about finding the sweet spot between agility and robust security in the cloud era.
Fastrack your GRC efforts through automation