According to our latest study on "Cloud Infrastructure Entitlements Management (CIEM) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Component, Organization Size, End User, and Geography," the cloud infrastructure entitlements management (CIEM) market size was valued at US$ 1.03 billion in 2023 and is expected to reach US$ 14.11 billion by 2031; it is estimated to record a CAGR of 38.7% from 2023 to 2031.
The cloud infrastructure entitlements management (CIEM) market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC, respectively.
The North America cloud infrastructure entitlements management (CIEM) market is segmented into the US, Canada, and Mexico. In terms of revenue, US dominated the cloud infrastructure entitlements management (CIEM) market share. The ongoing expansion of wireless connectivity and the increasing use of connected and IoT-enabled devices bolster the demand for efficient computing frameworks and services based on the latest innovative technologies. Favorable government policies, the presence of major cloud vendors, and the availability of robust internet infrastructure are the primary factors contributing to the market growth in the US. According to the US Federal Cloud Computing Strategy, the government implemented the "CloudFirst" policy to accelerate the adoption rate of cloud solutions and services in the country. Moreover, the extended reach of the internet in recent years has been propelling the demand for cloud solutions and services. Such favorable conditions have helped US-based companies maintain a strong presence in international markets by expanding their businesses through partnerships with other cloud service providers.
Canada has a potential demand for cloud management owing to the growing deployment of IoT across industry verticals, increase in internet traffic penetration, and rise in adoption of cloud technology. Cloud technology has improved a lot in recent years in Canada. For instance, 29% of the IT budget of all Canadian businesses was allocated to public clouds in 2020. Moreover, according to a blog by Revolution, public cloud spending in Canada will nearly double between 2019 and 2023. Furthermore, as a part of the Government of Canada's Cloud Adoption Strategy, more and more Canadian businesses will be investing in cloud computing. Major global players, such as Amazon, Microsoft, and Google, try to provide custom-tailored cloud services in Canada to boost cloud adoption. Such massive adoption of cloud solutions increases the need for CIEM solutions in Canada.
Key Findings of Cloud Infrastructure Entitlements Management (CIEM) Market Study:
The cloud infrastructure entitlements management (CIEM) market analysis has been carried out considering the following segments: component, organization size, end user, and geography. Based on component, the market is bifurcated into solution and services. In terms of organization size, the market is divided into large enterprises and SMEs. Based on end user, the market is segmented into IT & telecom, healthcare, manufacturing, BFSI, retail & e-commerce, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Based on component, the market is bifurcated into solution and services. The solution segment held the largest cloud infrastructure entitlements management (CIEM) market share. Cloud infrastructure entitlements management is a cloud security solution designed to manage identities and privileges in cloud environments. Security teams can control cloud identities and entitlements and implement the least-privileged access to cloud infrastructure and resources by using cloud infrastructure entitlements management solutions. Businesses can lower cyberattack on their cloud infrastructure and minimize access risks caused by excessive permissions by implementing Cloud infrastructure entitlements management solutions. Businesses across the globe are increasingly leveraging public clouds such as Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure to accelerate the innovation pace and streamline operations. Many companies are also implementing multi-cloud solutions to optimize customer choice, costs, and availability. Cloud resources are highly dynamic and pose significant operational, security, and compliance challenges. CIEM solutions address these challenges by improving visibility and detecting and remediating misconfigurations to establish least-privilege access throughout single and multi-cloud environments
The services segment includes professional services, training services, and support services. As the solution providers witness growth in demand for cloud infrastructure entitlements management solutions, there is an increasing requirement for cloud infrastructure entitlements management-related services. The professional services offer broad design and enterprise-wide security assessment and deployment services to assist the user in effectively using cloud infrastructure entitlements management solutions. The training services include support and troubleshooting, installation, configuration, and administration services for a constantly changing environment of technologies. Evolving risks of cloud-based attacks across an organization's security perimeter are driving the demand for cloud infrastructure entitlements management services. Moreover, the growing need for installation and training services is driving the market for the services segment.
Microsoft; Palo Alto Networks; Check Point Software Technologies Ltd.; CrowdStrike Holdings Inc; CyberArk Software Ltd; Radware Ltd; One Identity LLC; Zscaler Inc; Orca Security; and Tenable, Inc are among the key players profiled in the cloud infrastructure entitlements management (CIEM) market report. Several other major players were studied and analyzed during the cloud infrastructure entitlements management (CIEM) market analysis to get a holistic view of the market and its ecosystem. The cloud infrastructure entitlements management (CIEM) market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current cloud infrastructure entitlements management (CIEM) market trends and their foreseeable impact during the forecast period.
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