Cloud Migration Plans Surge Despite Security Concerns
Global Study: Close to 6 in 10 IT leaders in Bulgaria believe cloud migration has to be a priority when future-proofing digital infrastructure
Equinix, Inc. the world’s digital infrastructure company™, has found there has been a significant year-on-year leap in companies planning to move business-critical applications to the cloud, despite cybersecurity concerns.
The need to remain competitive and cater to increased user demands has prompted a 15% jump to 37% of companies saying they plan to move business-critical applications to the cloud in 2020-21, compared to the previous year. As digital leaders build robust digital infrastructures to ensure future success, it is estimated that almost half (47%) of their IT infrastructure globally is now on the cloud, despite ongoing concerns over cloud security. In Bulgaria this percentage is 41. These findings come from Equinix’s annual global study of the views of 2,600 IT decision-makers across the Americas, Asia-Pacific and EMEA—the Equinix 2020-21 Global Tech Trends Survey (GTTS).
Since the outbreak of the global COVID-19 pandemic, the risk of cyberattacks has greatly expanded at the digital edge. Cybercrime costs the world economy more than $1 trillion with the average cost to organizations estimated to be more than half a million dollars per incident. Risk has been compounded by the large number of companies quickly shifting network capacity to cater to increasing volumes of remote worker data traffic. This has prompted a surge in cloud migration and broad implementation of cloud-based digital infrastructure as part of a hybrid infrastructure strategy.
Balancing cybersecurity concerns with cloud adoption in a digital-first world
Jennifer Cooke, Research Director, Edge Strategies, IDC, states: “Shifts in population centers, the increasing occurrence of cyberattacks, rapidly expanding data volumes and compliance needs, the creation of business ecosystems, and the transformation to digital business, have been driving the need for a new approach to digital infrastructure. These market forces are driving IT leaders to consider the best strategies and prioritize investments across the digital core, edge, and exchange of data.”
The GTTS found 70% of respondents from all over the world and close to 60% of those from Bulgaria believe migrating to the cloud is a top priority, with 80% focused on digitizing their IT infrastructure globally. 72% of the Bulgarian IT leaders share this view. This move is not being made lightly, with the threat of data leaks/cyberattacks as a result of increased cloud adoption being perceived as one of the biggest threats to organizations in all three regions: 52% AMER, 50% AP, 45% EMEA. However, in Bulgaria only 26% think the same.
These concerns are not without merit. The Global Interconnection Index (GXI) Volume 4, a market study published by Equinix, revealed a growth in the number of user devices and cloud resources, meaning organizations have to be aware of distributed security risks such as DDoS attacks, which have grown over 270% year-over-year.
Michael Montoya, Chief Information Security Officer, Equinix, said: “Digital transformation is essential for business survival. Every company is becoming a software company and the pandemic has accelerated the need for digital transformation. Indeed, findings from the 2021 Gartner® Board of Directors Survey* show 69% of boards accelerated their digital business initiatives in the wake of COVID-19.
“Moving to the cloud is at the heart of this transformation. However, as our GTTS shows, many digital leaders remain nervous about this migration, with IT decision-makers highlighting fears around increased data leaks and security breaches.
“Cyber hygiene remains vitally important in the cloud. Equinix offers a robust and interconnected platform which allows for the direct and secure exchange of data between businesses. Equinix Fabric enables connectivity to global digital business ecosystems and a myriad of cloud service providers. As a Chief Information Security Officer, I now have the assurance that my cloud deployments avoid the public internet and the associated cyber risks.”
Stacy Hayes, Co-Founder and Executive Vice President, Assured Data Protection, added: “Equinix and Equinix Fabric enabled us to deliver our Rubrik Cloud services over a fast, scalable and secure interconnection platform, with access to multiple hyperscaler clouds, that will not only protect our customers’ data today, but also give them much more value from their data in the future.”
According to Zdravko Nikolov, Managing Director, Equinix, Bulgaria: Half of the Bulgariant respondents have indicated that they plan to move more functions to the cloud. For 50% of those planning a move to the cloud, databases are the most common function to be moved. So, even if according to them this process of cloud migration will take longer than one year, this is very indicative of what to expect in the future. Equinix can meet the growing demands and minimize cybersecurity risks thanks to its secure connection to an array of cloud solutions providers.”
Other findings of note from the Global Tech Trends Survey include:
- 80% of IT decision-makers globally and 72% of those in Bulgaria said digitizing their IT infrastructure is a top priority, with 76% both globally and in Bulgaria working to improve user experience.
- Almost half (48%) of respondents said they believe the threat of data leaks and cyberattacks as a result of cloud migration to be one of the biggest threats globally. In Bulgaria only 26% share the same opinion.
- 81% of digital leaders said they are prioritizing improving their organization’s cybersecurity—a significant increase from the 70% who said this in the 2019-20 edition of the survey. In Bulgaria those who have stated the same are 84%.
To read more about the Global Tech Trends Survey, or download a copy, please visit: https://www.equinix.com/resources/infopapers/equinix-tech-trends-survey
Some of the coverage is available below
Forbes Bulgaria: Cybercrime – an adversity worth 1 trillion dollars
BTA: According to experts the number of companies planning to move critital applications to the cloud is growing
Digitalk.bg: Equinix: Growth in the plans for cloud migration despite security concerns