Enterprise and cybersecurity tech stacks that need to modernise their privileged access management are winning with the cloud (PAM). 94 percent of businesses say they currently use cloud services, and 75 percent of them say security is their main worry. The cloud has already become the standard for business infrastructure in 67% of cases. The move to the cloud will impact company IT spending of more than $1.3 trillion this year and approximately $1.8 trillion by 2025.
In 2025, cloud technologies will account for over two-thirds (65.9%) of application software investment, up from 57.7% in 2022.
As enterprises reacted to a new commercial and societal dynamic over the past two years, the move to the cloud has only increased.
Zero trust needs to guide PAM adoption
The speed at which businesses move workloads to the cloud increases the danger of security breaches.
Organizations are also aware that any zero-trust network access (ZTNA) plan must include PAM as a fundamental component. Designing PAM into the foundation of a company’s ZTNA framework ensures that PAM apps won’t become targets of intrusion attempts and security breaches due to the vulnerabilities of relying on particular public cloud providers’ identity access management (IAM).
To achieve an enterprise-class ZTNA framework, a cloud-based platform that covers a complete hybrid cloud infrastructure is a requirement. The PAM market is anticipated to expand at a compound yearly growth rate of 10.7% from 2020 to 2024, reaching a market value of $2.9 billion, as a result of the increasing demand for it among businesses.
Cloud-based PAM platform vendors keep improving support for cloud infrastructure entitlement management (CIEM), which monitors cloud platforms in real-time to identify any anomalies or misconfigurations. Today, cloud-based platforms need to scale and secure local and remote machine-to-machine privileged access workflows. The capability of CIEM platforms to locate and eliminate potential intrusion and breach risks is rapidly maturing.
The future of PAM is in the cloud
As a key component of their infrastructure consolidation initiatives, CISOs frequently replace outdated on-premise systems with more sophisticated cloud-based PAM solutions. As legacy systems grow increasingly more expensive to operate and run the danger of losing vendor support, consolidating PAM into the cloud frees up more IT resources and finances.
Businesses switch to cloud-based PAM systems to take advantage of their possible cost savings, increased scalability, flexible user interfaces and workflows, higher availability, and quicker and more effective system updates. The following are other motivators for enterprises to go from on-premises to cloud PAM:
Cloud-based integrations based on two-way secured socket layer (SSL) trust are more secure
The most secure cloud PAM integrations rely on two-way-SSL trust, which keeps hackers out, between the platform and anywhere resources are required. Leading cloud PAM suppliers, for instance, depend on Radius to interface with its Multifactor Authentication Suite and deliver MFA capabilities for each PAM instance their clients have today in the cloud.
Greater reliability integrating with public cloud service with SSLs
Future safe connection to public cloud platforms will enable via connectors that establish two-way-SSL trust between cloud platforms and databases, systems, and resources. As opposed to shell-script-based interfaces to traditional PAM systems, using connectors that are customized to each public cloud platform and rely on SSL has turned out to be more dependable and secure.
Customizable, options for cloud PAM platforms outdistance legacy PAM apps
In general, cloud-based PAM solutions offer more flexibility in terms of personalizing and setting up specific displays, processes, and rights for each person, group, and resource.
Cloud-based PAM platforms help with compliance.
The most recent PAM systems and apps made to scale and simplify audit and compliance needs, expanding across industries. Leading cloud vendors have created their solutions to assist businesses in adhering to industry-specific standards, including GDPR, ISO 27001, HIPAA, PCI, SOX, and FIPS. Many people are also concentrating on how to design their systems to adhere to NIST SP 800-207, the zero-trust architectural standard.
Cloud is the way
The only option left for PAM vendors is to switch to the cloud as a platform and look into ways to set themselves apart with better visibility, control, access management, and advanced analytics. Unfortunately, older APM systems will eventually lose maintenance agreements and cost more. Therefore, enterprises that rely on them must consider how switching to cloud-based systems can give them the advanced assistance they require in the future.
It becomes clear that cloud is the future as CISOs streamline their tech stacks and lower IT costs for legacy apps. It becomes evident that the cloud is the future when you consider the adaptable customisation, API support for improved integration, and immediate support for mobile devices, all inside a larger ZTNA framework.
Also Read: Marketing Trends Small Business Owners Need For 2023