Encipher arises as "Cloud Dominates 60% Data Management"

Cloud Data Spurs Encryption Boom necessitating a more robust and attractive form of protection. According to a recent survey, the cloud market is projected to reach a valuation of US $13.1 billion by 2026, with a CAGR of 20.3% from 2021-2026. 

The world is one big data problem. But it’s easy with Cloud Computing. The sheer size of our world, with its 7.9 billion inhabitants and counting, means that storing data for individuals and organizations is a monumental task.

The proliferation of the internet, fueled in part by the popularity of online platforms, has led to an unprecedented surge in cybercrime that shows no signs of slowing down. 

‍Let's raise a glass to the cloud, the impregnable vault that safeguards our most precious asset – our “Data”. ‍

That being the case, Ventures are contemplating using Cloud encryption which is the fortress that shields our sensitive information from harm. 

How about we delve in the topic of encryption?

Encryption is the process of converting data into an unreadable format using complex algorithms, so that only those with the appropriate decryption key can access it. This makes it extremely difficult for hackers and other cybercriminals to gain access to sensitive information such as financial data, customer information, and trade secrets. As more businesses store their data on the cloud, the need for encryption has become increasingly important.

One of the key benefits of encryption is that it can help businesses comply with data privacy regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations require businesses to protect personal data from unauthorized access and disclosure, and failure to comply can result in hefty fines and legal action. Encryption provides a strong layer of protection that can help businesses meet these regulatory requirements. 

Salient highlights: 

• End-users are predicted to spend $591.8 billion on public cloud services globally in 2023, representing a 20.7% increase over previous years.
• 52% of the surveyed organizations spend $1.2 million or greater each year on AWS.
• 33% of participants reported allocating $1.2 million or more annually on Google Cloud.
• The cloud offers multi factor authentication that protects data from cyber attacks.

Conclusion: Cloud encryption also helps organizations comply with regulations and data protection laws, which mandate the use of encryption for sensitive data. In addition, encrypting data can help organizations avoid reputational damage and financial losses resulting from data breaches.

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