The Global Cloud Infrastructure Entitlement Management Market size is expected to reach $15.7 billion by 2030, rising at a market growth of 42.8% CAGR during the forecast period.
The solution segment is the majorly deployed offering of CIEM as organizations are extremely concerned about cybersecurity and data breach threats, thereby, solution segment would capture more than 73% share of the market by 2030. The standards for complying with regulations are likewise getting stricter. CIEM solutions help to improve the overall resiliency and dependability of cloud infrastructures by tackling security and compliance issues. For example, Poland became one of the most often targeted nations for cyberattacks following the Russia-Ukraine War in February 2022. Data from the International Trade Administration (ITA) show that just in October 2022, there was an increase in assaults against public institutions from 1214 to 2316 per week in Poland.
The major strategies followed by the market participants are Product Launches as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In November, 2021, Palo Alto Networks rolled out Prisma Cloud 3.0, the industry's first integrated platform to shift security. The Prisma cloud capabilities would support customers to scale modern development as they can deploy more secure infrastructure and applications in cloud environments. Additionally, In May, 2023, CyberArk added new features to its CyberArk Identity Security Platform. The new features include enhanced unrevealed management capabilities, Bring Your Key facility, updated privileged access management, and self-controlled locating and consignment of endpoint accounts.
Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation are the forerunners in the Market. In June, 2022, Microsoft introduced Azure Active Directory, Microsoft Entra Permissions Management, and Microsoft Entra Verified ID, a new product family of Microsoft Entra. This launch focused on verifying all types of identities and securing, managing, and governing their access to any resource. Companies such as CyberArk Software Ltd., Check Point Software Technologies Ltd. and BeyondTrust Corporation are some of the key innovators in the Market.
Businesses are increasingly implementing work-from-home (WFH) and bring-your-own-device (BYOD) policies. Employers who adopt the BYOD idea and use cloud-based technologies enable employees to work from home while staying connected to the office network. Because of the growing acceptance of BYOD policies and numerous cloud solutions, businesses are rapidly moving toward a multi-cloud deployment strategy. Having remote employees helps firms avoid productivity loss and advances public health. This fuels the market's expansion.
The ability to use cutting-edge methods, including machine learning (ML), to suggest the least privileges for a specific assignment has led to an increase in the adoption of CIEM solutions by organizations. As a security best practice, the concept of least privilege has become prominent. It strongly emphasizes providing users with the minimal level of access necessary for them to do their duties. By offering fine-grained insight into entitlements and supporting access rights management according to user roles and responsibilities, CIEM solutions assists businesses in implementing and enforcing least privilege access controls. The CIEM market can, therefore, increase by utilizing cutting-edge methods like machine learning to suggest the least privileges.
Regarding how CIEM systems can be used, there are some restrictions. Additionally, the technology is sufficiently advanced for the somewhat new market of CIEM in cloud security. The specialists or personnel must possess the technical abilities and understanding to deploy, process, evaluate, and secure cloud solutions. When establishing and managing operations, organizations hiring security specialists cannot sometimes investigate and pinpoint advanced security holes. According to the 2022 Application Security Report from Fortinet and Cybersecurity Insiders, many enterprises experienced one or more breaches that they could link to a lack of cybersecurity knowledge and skills globally. This is a serious issue for the security sector. Therefore, the lack of skilled personnel is obstructing the expansion of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on offering, the market is characterized into solution and professional services. The solution segment garnered the highest revenue share in the market in 2022. To meet the varying demands of companies in managing entitlements as well as controls across their cloud environments, a wide range of CIEM solutions are included in the solution segment from a number of different vendors. Organizations now have the opportunity to select the CIEM solution that best meets their unique needs, which promotes more product adoption.
On the basis of vertical, the market is classified into BFSI, IT & ITeS, retail & eCommerce, healthcare, telecommunications, and others. The IT and ITeS segment recorded a significant revenue share in the market in 2022. Through the use of web-based technologies and cloud services, organizations can virtualize their IT infrastructure and access online applications. By doing this, maintenance expenses and other inconveniences associated with maintaining conventional hardware are avoided. Saving money on infrastructure is the cloud services' most important benefit for the IT/ITeS sector. With changing trends and needs, IT/ITeS systems must adapt.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 969.8 Million |
| Market size forecast in 2030 | USD 15.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 42.8% from 2023 to 2030 |
| Number of Pages | 194 |
| Number of Table | 284 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered the maximum revenue share in the market in 2022. Strong economic nations like Canada and the US are found in North America. It provides the largest and most sophisticated technological infrastructure. Due to the presence of the majority of multinational corporations, North America has the most developed market.
Free Valuable Insights: Global Cloud Infrastructure Entitlement Management Market size to reach USD 15.7 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, CyberArk Software Ltd., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., BeyondTrust Corporation, Rapid7, Inc., NextLabs, Inc., Radware Ltd., EmpowerID, Inc., and One Identity LLC (Quest Software, Inc.)
By Offering
By Vertical
By Geography
This Market size is expected to reach $15.7 billion by 2030.
Increasing BYOD and remote working models adoption are driving the Market in coming years, however, Inadequate technical ability to install CIEM restraints the growth of the Market.
Microsoft Corporation, CyberArk Software Ltd., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., BeyondTrust Corporation, Rapid7, Inc., NextLabs, Inc., Radware Ltd., EmpowerID, Inc., and One Identity LLC (Quest Software, Inc.)
The BFSI segment is leading the Global Cloud Infrastructure Entitlement Management Market by Vertical in 2022 thereby, achieving a market value of $3.2 billion by 2030.
The North America market dominated the Global Cloud Infrastructure Entitlement Management Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.8 billion by 2030.
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