Equinix, Inc. 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 Singaporean companies saying they are deploying hybrid (57%) or multi cloud (35%) in 2020-21, trending up significantly year over year.
As Singapore digital leaders build robust digital infrastructures to ensure future success, the survey revealed that 40% of them plan to move business-critical applications to the cloud, despite ongoing concerns over cloud security.
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
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 all respondents believe migrating to the cloud is a top priority, with 80% focused on digitizing their IT infrastructure. Asia-Pacific shares the same sentiment with 65% of respondents identifying cloud migration as a top priority, with 76% looking to digitize their IT infrastructure.
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.
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.”
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.”
Other findings of note from the Global Tech Trends Survey include:
- 88% of IT decision-makers in Singapore said digitizing their IT infrastructure is a top priority, with 86% working to improve cyber security.
- More than half (64%) of respondents in Singapore said they believe the threat of data leaks and cyberattacks as a result of more distributed user devices is one of the biggest threats to organizations globally.
- 86% of respondents in Singapore said they are prioritizing improving their organization’s cybersecurity—a significant increase from the 66% who said this in the 2019-20 edition of the survey.