Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Cloud Infrastructure Entitlement Management (CIEM) Market by Offering (Solution, Professional Services), Vertical (BFSI, Healthcare, Retail and eCommerce, Telecommunications, IT and ITeS) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global CIEM market size is projected to grow from USD 1.2 billion in 2023 to USD 7.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 44.2%
The growth of the CIEM market is driven by factors such as increased speed and flexibility to innovate for DevOps are fueling the demand for CIEM.
By offering, the solution segment holds the largest market size.
CIEM solutions provide IT and security organizations with control over cloud permissions and visibility into entitlements. CIEM solutions apply consistent security policies across all cloud platforms by enforcing the least privileged access. It provides visibility into the permissions and activities of all identities in a cloud environment.
With CIEM, admins can quickly identify who is accessing specific cloud resources or services and when they access them. Hence, CIEM solutions help organizations guard against data breaches, malicious attacks, and the risks of excessive cloud permissions.
By vertical, BFSI vertical holds the largest market size.
CIEM solutions help banks manage user identities, enforce access controls, and monitor user activity to detect and respond to potential security threats. CyberArk, Zscaler, Check Point, CrowdStrike, SailPoint, Ermetic, Saviynt, SSH, Orca Security, Authomize, One Identity, StrongDM, and senhasegura are some of the key vendors in the CIEM market space.
Financial institutions must ensure configuring and implementing an efficient cybersecurity strategy for protecting customers' data and key applications while holding to regulatory compliance. Hence, there will be increasing demand for CIEM solutions in the upcoming years to ensure the security of the cloud.
By region, the Asia Pacific segment registered the fastest growth rate during the forecast period.
The Asia Pacific constitutes thriving economies, such as Singapore, Japan, China, and India, which are expected to register high growth rates in the CIEM market.
During COVID-19, cloud technology has supported global supply chains and remote working. Cloud platforms such as AWS, Google Cloud, Alibaba Cloud, and other domestic cloud computing companies across the region have enhanced their cloud offerings to support start-up companies. Increasing digitalization and extending cyberattacks fuel the adoption of CIEM solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.2 Billion |
| Forecasted Market Value (USD) by 2028 | $7.5 Billion |
| Compound Annual Growth Rate | 44.2% |
| Regions Covered | Global |
Premium Insights
- Increase in Government Investments for Cloud Adoption to Drive Market
- Solution Segment to Account for Larger Market Share in 2023
- Banking, Financial Services, and Insurance Segment to Account for Largest Market Share in 2023
- Europe to Emerge as Best Market for Investments in the Next Five Years
Market Dynamics
Drivers
- Need for Proper Management of Identities, Access, and Privileges
- Maintains Visibility and Ensures Compliance Across Multiple Cloud Infrastructure
- Increased Speed and Flexibility to Innovate for DevOps
Restraints
- Lack of Awareness of Cloud Resources, Cloud Security Architecture, and Strategy
- Limited Technical Skilled Expertise to Implement Ciem
Opportunities
- Leverage Advanced Techniques to Recommend Least Privileges for Specific Work
Challenges
- High Initial Investment
- Transitory Nature of Cloud
Case Study Analysis
- Case Study 1: Ing Used One Identity Solutions to Ensure Its Identity Governance Was Robust
- Case Study 2: Rapid7 Solution Enables Continuous Multi-Cloud Security and Compliance for Costar During Merger and Acquisition Processes
- Case Study 3: Fortune 50 Technology Adopted Sailpoint's Identitynow Platform and Ai-Driven Identity Security Capabilities
- Case Study 4: Cyberark Identity Security Platform Helped Healthfirst Reinforce Identity Protection
Tariff and Regulatory Landscape
- Payment Card Industry Data Security Standard
- General Data Protection Regulation
- California Consumer Privacy Act
- Personal Information Protection and Electronic Documents Act
- Health Insurance Portability and Accountability Act
- International Organization for Standardization Standard 27001
- Regulatory Bodies, Government Agencies, and Other Organizations
Impact of Cloud Infrastructure Entitlement Management on Adjacent Technologies
- Ai/Ml
- Big Data Analytics
- Iot
- Devsecops
Company Profiles
Key Players
- Microsoft
- Cyberark
- Palo Alto Networks
- Check Point
- Zscaler
- Beyondtrust
- Rapid7
- Crowdstrike
- Sailpoint
- Saviynt
- Orca Security
Other Players
- Empowerid
- Senhasegura
- Sysdig
- Nextlabs
- Britive
- Strongdm
- Solvo
- Ermetic
- One Identity
- Authomize
- Sonrai Security
- Radware
- Securends
- Ssh Communications Security
For more information about this report visit https://www.researchandmarkets.com/r/60zm1i
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