ESG Research Unearths Critical Insights for Future-Proofing Encryption and Key Management

ESG Research Unearths Critical Insights for Future-Proofing Encryption and Key Management
madhav
Thu, 02/01/2024 – 05:14

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Encryption and key management are critical defenses against data breaches and cyber threats in the evolving digital landscape. A comprehensive study by ESG Research, commissioned by Thales, sheds light on emerging trends, operational challenges, and strategic advancements in this vital field. For IT professionals navigating the complexities of data security, these insights offer a guide to the evolving demands and solutions in encryption and key management.

Strategic Insights at a Glance

The ESG Research study offers a trove of insights for all IT professionals and business execs. The following points provide a high-level snapshot of the current encryption landscape:

• Widespread Data Loss: 71% of organizations have faced multiple data breaches in the past year, primarily due to inadequate encryption.
• Operational Challenges: Top concerns include identifying where and when to apply encryption, managing certificate chains of trust, and ensuring regulatory compliance.
• Trends in Encryption: An increase in encryption for data at rest, in motion, and in use is anticipated, with a notable shift towards cloud-resident data protection.
• Strategic Focus: The formation of dedicated encryption teams and direct reporting to C-level executives emphasize encryption’s strategic significance.

The Rising Tide of Cloud-Based Sensitive Data

The volume of sensitive data residing in the cloud is surging, with an average of 51% of organizational data currently cloud-based, projected to increase to 68% within 24 months. This trend underscores the growing reliance on encryption as a primary safeguard. As data migrates skyward, encryption techniques for data at rest, in motion, and in use are becoming more pervasive, evolving into a standard practice for protecting cloud-resident sensitive information against emerging cyber threats.

Encryption as a Strategic Imperative

Encryption is increasingly recognized as a strategic cornerstone within organizations. Reflecting this shift, 71% have initiated formal cryptographic programs, while 81% boast dedicated encryption teams. Notably, 63% of these teams report directly to C-level e

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