Check Point’s 2020 Cloud Security Report Highlights Enterprise Security Concerns and Challenges in Public Clouds

Rhea-AI Summary

Check Point Software Technologies (NASDAQ: CHKP) released the 2020 Cloud Security Report, revealing significant concerns in public cloud security. Key findings show that 75% of security professionals are worried about cloud security, with misconfiguration (68%) being the top threat. Additionally, 82% reported that traditional security solutions offer limited support for cloud environments. A majority of organizations (59%) expect to increase their cloud security budget in the coming year. The report highlights the urgent need for improved security measures as cloud deployments outpace protective capabilities.

Positive

• 59% of organizations plan to increase their cloud security budget within the next year.
• The report indicates a growing recognition of cloud security issues among enterprises.

Negative

• 75% of respondents expressed significant concern regarding public cloud security.
• 82% indicated that existing security solutions provide limited support for cloud environments.
• 68% identified cloud misconfiguration as the leading security threat.

SAN CARLOS, Calif., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally and Cybersecurity Insiders, the comprehensive source for everything related to cybersecurity, have released the results of their global 2020 Cloud Security Report, highlighting the challenges faced by enterprise security teams in protecting data and workloads in their public cloud deployments.

The report shows that public cloud security continues to be a major challenge: 75% of respondents stated they were ‘very concerned’ or ‘extremely concerned’ about it. The challenge is made more complex as 68% said their organizations used two or more different public cloud providers, which means that security teams often have to use multiple native security tools and management consoles to try and enforce security and compliance across the different environments.

Key findings of the 2020 Cloud Security Report include:

• The top four public cloud security threats: the leading threats cited by respondents was misconfiguration of the cloud platform (68%), up from third in 2019’s survey. This was followed by unauthorized cloud access (58%), insecure interfaces (52%), and hijacking of accounts (50%).
   
• The main security barriers to cloud adoption:  respondents named a lack of qualified staff (55%) as the biggest barrier to adoption – up from fifth place in last year’s survey.  46% cited budget constraints, 37% data privacy issues, and 36% a lack of integration with on-premises security.
   
• Existing security tools struggle with public clouds: 82% said their traditional security solutions either don’t work at all, or only provide limited functions in cloud environments, up from 66% in 2019 – highlighting an increase in cloud security issues over the past 12 months.
   
• Public cloud is riskier:  52% of respondents considered the risk of security breaches in public clouds higher than in traditional, on-premises IT environments. Just 17% see lower risks, and 30% believe the risks are about the same between the two environments
   
• Cloud security budgets to rise:  59% of organizations expect their cloud security budget to increase over the next 12 months. On average, organizations allocate 27% of their security budget to cloud security.

“The Report shows that organizations’ cloud migrations and deployments are racing ahead of their security teams’ abilities to defend them against attacks and breaches.  Their existing security solutions only provide limited protections against cloud threats, and teams often lack the expertise needed to improve security and compliance processes,” said TJ Gonen, Head of Cloud Product Line, Check Point Software.  “To close these security gaps, enterprises need to get holistic visibility across all of their public cloud environments, and deploy unified, automated cloud-native protections, compliance enforcement and event analysis. This way, they can keep pace with the needs of the business while ensuring continuous security and compliance.”

The 2020 Cloud Security Report is based on the results of a comprehensive online survey of 653 cybersecurity and IT professionals, conducted in July 2020 to gain insights into the latest trends, key challenges and solutions for cloud security across a balanced cross-section of organizations of varying sizes across multiple industry sectors.  The survey was done by Cybersecurity Insiders, the 400,000-member information security community.

To download a copy of the full report, visit:  https://pages.checkpoint.com/2020-cloud-security-report.html

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About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cyber security solutions to governments and corporate enterprises globally.  Its solutions protect customers from 5^th generation cyber-attacks with an industry leading catch rate of malware, ransomware and other types of attacks. Check Point offers multilevel security architecture, “Infinity” Total Protection with Gen V advanced threat prevention, which defends enterprises’ cloud, network and mobile device held information. Check Point provides the most comprehensive and intuitive one point of control security management system. Check Point protects over 100,000 organizations of all sizes.

MEDIA CONTACT:                                                            
Emilie Beneitez Lefebvre                                           
Check Point Software Technologies                                  
press@checkpoint.com                                                                

INVESTOR CONTACT:
Kip E. Meintzer
Check Point Software Technologies
ir@us.checkpoint.com

FAQ

What are the main findings of the 2020 Cloud Security Report by Check Point (CHKP)?

The report reveals that 75% of cybersecurity professionals are very concerned about cloud security, with misconfiguration as the top threat at 68%.

What percentage of organizations expect to increase their cloud security budget according to Check Point's report?

59% of organizations expect their cloud security budget to increase in the next 12 months.

What security challenges do organizations face when using multiple cloud providers as highlighted by Check Point?

Organizations struggle with using multiple native security tools and management consoles to ensure compliance and security across different cloud environments.

How do traditional security solutions perform in cloud environments according to the report?

82% of respondents reported that traditional security solutions either don’t work or only provide limited functions in cloud environments.

What is the perception of security risks in public clouds compared to traditional environments based on Check Point's findings?

52% of respondents consider the risks of security breaches in public clouds to be higher than in traditional, on-premises IT environments.