The cloud computing technology is around for many years now and the technology pundits predict that it will continue to rise persistently in the years to come. In this light, enterprises have been debating on the online data security in the cloud.

Let's take a quick glance at various facts mirroring the growth trajectory of cloud technology in line with the rising cyber security threats and various measures taken to achieve secure online data storage:

According to a group of analysts from a leading research firm Gartner Inc., the cloud market is anticipated to grow at a steadfast pace. The estimated market share for this breakthrough technology is predicted to be nearly $3.1 billion by the year 2015. Another research by Symantec indicates that cyber risk is considered as a major concern among the organizations across the globe. This further reflects that revenue from cloud-based security measures are forecasted to multiple by three times by the year 2017.

As the cloud market is subject to many threats, various cyber attackers and smart hackers are leveraging the advanced methods like malware threat, social engineering, Internet attacks, etc. to steadily gain access to an organization's mission critical data and information. Moreover, sensitive information is often leaked by a company's employees or from the mail boxes. Thus, to secure online data storage companies or service vendors are using the Cloud Authentication technique.

Authentication in the cloud helps enterprises to keep their critical and sensitive information secure by limiting its access only to the authorized users having authentic credentials. To further enhance security, many vendors add multiple security layers, such as Two-Factor or Multi-Factor authentication, which makes it difficult for the hackers to access important files and applications of an organization. These authentication patterns additionally use another security layer, viz. User ID & password to impart more protection to sensitive information. For instance, most of the banks send one-time password or OTP that is valid only for a particular time and is limited to a few number of uses. This acts as a shield to safeguard your vital information against any online threat.

Thus, the rising popularity of cloud computing has fueled new opportunities and challenges for data authentication. Companies of all shapes and sizes deploying cloud technology are increasingly demanding for the usable authentication measures. Simultaneously, this technology includes abilities like centralized analysis, regular monitoring, and accurate authenticating methods.