nCipher
Security, the provider of trust, integrity and control for business
critical information and applications, announces that as organizations
embrace the cloud and new digital initiatives such as the internet of
things (IoT), blockchain and digital payments the use of trusted
cryptography to protect their applications and sensitive information is
at an all-time high, according to the 2019
Global Encryption Trends Study from the Ponemon Institute.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190328005199/en/
nCipher Security 2019 Ponemon Global Encryption Trends Report (Graphic: Business Wire)
With corporate data breaches making the headlines on an almost daily
basis, the deployment of an overall encryption strategy by organizations
around the world has steadily increased. This year, 45% of respondents
say their organization has an overall encryption plan applied
consistently across the entire enterprise with a further 42% having a
limited encryption plan or strategy that is applied to certain
applications and data types.
Threats, drivers and priorities
Employee mistakes continue to be the most significant threat to
sensitive data (54%), more than external hackers (30%) and malicious
insiders (21%) combined. In contrast, the least significant threats to
the exposure of sensitive or confidential data include government
eavesdropping (12%) and lawful data requests (11%).
The main driver for encryption is protection of an enterprise’s
intellectual property and the personal information of customers – both
54% of respondents.
With more data to encrypt and close to 2/3 of respondents deploying 6 or
more separate products to encrypt it, policy enforcement (73%) was
selected as the most important feature for encryption solutions. In
previous years, performance consistently ranked as the most important
feature.
Cloud data protection requirements continue to drive encryption use,
with encryption across both public and private cloud use cases growing
over 2018 levels, and organizations prioritizing solutions that operate
across both enterprise and cloud environments (68%).
Data discovery the number one challenge
With the explosion and proliferation of data that comes from digital
initiatives, cloud use, mobility and IoT devices, data discovery
continues to be the biggest challenge in planning and executing a data
encryption strategy with 69% of respondents citing this as their number
one challenge.
Trust, integrity, control
The use of hardware security modules (HSMs) grew at a record
year-over-year level from 41% in 2018 to 47%, indicating a requirement
for a hardened, tamper-resistant environment with higher levels of
trust, integrity and control for both data and applications. HSM usage
is no longer limited to traditional use cases such as public key
infrastructure (PKI), databases, application and network encryption
(TLS/SSL); the demand for trusted encryption for new digital initiatives
has driven significant HSM growth over 2018 for code signing (up 13%),
big data encryption (up 12%), IoT root of trust (up 10%) and document
signing (up 8%). Additionally, 53% of respondents report using
on-premises HSMs to secure access to public cloud applications.
Dr. Larry Ponemon, chairman and founder of the Ponemon Institute,
says:
“The use of encryption is at an all-time high, driven by
the need to address compliance requirements such as the EU General Data
Protection Regulation (GDPR), California Data Breach Notification Law
and Australia Privacy Amendment Act 2017, and the need to protect
sensitive information from both internal and external threats as well as
accidental disclosure. Encryption usage is a clear indicator of a strong
security posture with organizations that deploy encryption being more
aware of threats to sensitive and confidential information and making a
greater investment in IT security.”
John Grimm, senior director of strategy and business development at
nCipher Security, says:
“Organizations are under relentless
pressure to protect their business critical information and applications
and meet regulatory compliance, but the proliferation of data, concerns
around data discovery and policy enforcement, together with lack of
cybersecurity skills makes this a challenging environment. nCipher
empowers customers by providing a high assurance security foundation
that ensures the integrity and trustworthiness of their data,
applications and intellectual property.”
Other key trends include:
-
The highest prevalence of an enterprise encryption strategy is
reported in Germany (67%) followed by the United States (65%),
Australia (51%), and the United Kingdom (50%). -
Payment-related data (55% of respondents) and financial records (54%
of respondents) are most likely to be encrypted. Financial records had
the largest increase on this list over last year, up 4%. -
The least likely data type to be encrypted is health-related
information (24% of respondents), which is a surprising result given
the sensitivity of health information and the recent high-profile
healthcare data breaches. -
61% of respondents classify key management as having a high level of
associated “pain” (a rating of 7+ on a scale of 10). This figure is
almost identical to the 63% of organizations that use six or more
separate encryption products, suggesting there is clear correlation
between the two findings. -
Support for both cloud and on-premises deployment of encryption has
risen in importance as organizations have increasingly embraced cloud
computing and look for consistency across computing styles.
Download the 2019 Global Encryption Trends Study here.
2019 Global Encryption Trends Study methodology
The 2019 Global Encryption Trends Study, based on research by the
Ponemon Institute, captures how organizations around the world are
dealing with compliance, increased threats, and the implementation of
encryption to protect their business critical information and
applications. 5,856 individuals were surveyed across multiple industry
sectors in 14 countries/regions: Australia, Brazil, France, Germany,
India, Japan, Mexico, the Middle East (which is a combination of
respondents located in Saudi Arabia and the United Arab Emirates), the
Russian Federation, South Korea, the United Kingdom, the United States
and, two new regions in Asia for the first time, Southeast Asia
(Indonesia, Malaysia, Philippines, Thailand, and Vietnam) and Hong Kong
and Taiwan.
Follow us on LinkedIn,
Twitter,
Facebook
and Instagram
– search nCipherSecurity.
About nCipher Security
Today’s fast moving digital environment enhances customer satisfaction,
gives competitive advantage and improves operational efficiency. It also
multiplies the security risks. nCipher Security, a leader in the general
purpose hardware security module (HSM) market, empowers world-leading
organizations by delivering trust, integrity and control to their
business critical information and applications.
Our cryptographic solutions secure emerging technologies – cloud, IoT,
blockchain, digital payments – and help meet new compliance mandates,
using the same proven technology that global organizations depend on
today to protect against threats to their sensitive data, network
communications and enterprise infrastructure. We deliver trust for your
business critical applications, ensuring the integrity of your data and
putting you in complete control – today, tomorrow, at all times. www.ncipher.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190328005199/en/