In recent years, public cloud usage has been on the rise. As more businesses grow globally connected, the demand for cloud computing has increased. According to Gartner, the market for public cloud services is expected to reach $266.4 billion in 2020, growing 17 percent from the previous year. The threats against data security are growing as well, and users need protection without sacrificing cost and efficiency. The benefits of using the public cloud have been part of why we’ve seen more of a shift towards it in the last few years. These benefits include cost-efficiency, flexibility, speed of deployment, and in many cases, higher security as well.
An increasingly popular choice for public cloud usage is direct integration with other services and applications housed outside the public cloud itself. Integrating on-premises hardware with cloud based applications or connecting Software-as-a-Service (SaaS) solutions to separate cloud applications unifies data and improves sharing and visibility.
SaaS, the largest market segment of the public cloud services, is expected to grow to $116 billion in 2020, according to Gartner. This growth is attributed to increasing demand in workload and applications that cannot be accommodated solely by on-premises data centers. As the demand for cloud services increases and many financial acquiring, issuing, and Point-to-Point Encryption (P2PE) application providers take a cloud-native approach, organizations are looking to their payment hardware security module (HSM) vendors for cloud solutions.
