Unleash CIEM Solutions: Cloud Infrastructure Entitlement

US & Canada, Oct. 28, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, “the global Cloud Infrastructure Entitlement Management (CIEM) Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Organization Size (Large Enterprises and SMEs), and End User (IT & Telecom, Healthcare, BFSI, Manufacturing, Retail & E-commerce, and Others), and Geography”. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/cloud-infrastructure-entitlements-management-ciem-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. The COVID-19 pandemic caused many firms to switch from on-premise to cloud computing, which led to the Cloud Infrastructure Entitlement management (CIEM) market expansion. Businesses across all sectors are undergoing a digital transition due to automation. They are searching for technology that will enable them to reduce investment expenses and boost efficiency.

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Market Overview and Growth Trajectory:

CIEM Market Growth: According to an exhaustive report by The Insight Partners, the Cloud Infrastructure Entitlement Management (CIEM) market is experiencing significant growth, driven by the rising cloud-based cyberattacks. The market, valued at $1.03 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 38.7% during 2023–2031.

Rising Cloud-Based Cyberattacks: The adoption of cloud computing has gained massive traction in recent years with key players such as Amazon, Google, and Microsoft. Cloud computing has altered how enterprises use, store, and share data and information. However, anything that operates digitally will inevitably become a target of cyber actors. The shift of organizations toward cloud computing has created new avenues for cybercriminals to exploit vulnerabilities, compromise data, and wreak havoc on organizations of all sizes. Data stored in the cloud environment is more vulnerable than data on on-site servers. Misconfiguration, compromised user accounts, API vulnerabilities, malicious insider activity, and others are among the major causes of cloud computing cyberattacks. Cloud infrastructure entitlement management (CIEM) is an automated cloud security solution that mitigates the risk of data breaches in public cloud environments by implementing cloud security. Thus, the rise in cloud-based cyberattacks propels the Cloud Infrastructure Entitlement management market growth.

Increasing Adoption of Cloud-Based Deployment Models: The majority of organizations worldwide accept cloud services as a viable IT deployment model. The most popular rationale for cloud adoption continues to be the flexibility and data security of the cloud as a delivery platform. Many businesses have already migrated to one or more cloud services, influencing others to adopt the cloud to gain a competitive advantage. In September 2021, RunX raised US$ 4.1 million to make cloud infrastructure deployment easier for developers. In July 2019, Google LLC acquired Elastifile, an enterprise cloud storage provider, to expand its cloud-based file storage capabilities for enterprise-grade applications. The former company's current file storage offerings, third-party partner offerings, and Cloud Filestore were all extended due to this acquisition. Thus, the increasing adoption of cloud-based deployment models fuels the Cloud Infrastructure Entitlement management market growth.

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Adoption of Hybrid and Multi-Cloud Solutions: With advancements in cloud computing and increased demand for hybrid and multi-cloud environments, the IT landscape will continue to shift and evolve. Hybrid cloud refers to the combination of public cloud and on-premises infrastructure. Multi-cloud computing, on the other hand, is the use of multiple public cloud providers. The increasing adoption of hybrid and multi-cloud solutions is expected to be a significant trend in the IT industry.

Geographical Insights: The Cloud Infrastructure Entitlement Management (CIEM) market is segmented into five major regions— North America, Europe, APAC, the Middle East and Africa, and South and Central America. North America held the largest market share in 2022, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to record the highest CAGR in the Cloud Infrastructure Entitlement Management (CIEM) market during the forecast period.

CIEM Market Segmentation, Applications, Geographical Insights:

Based on components, the Cloud Infrastructure Entitlement management market is segmented into solutions and services. The solution segment held the largest share in the Cloud Infrastructure Entitlement management (CIEM) market in 2023.
Based on organization size, the Cloud Infrastructure Entitlement management market is segmented into large enterprises and SMEs. The large enterprises segment held the largest share in the Cloud Infrastructure Entitlement management (CIEM) market in 2023.
Based on end users, the Cloud Infrastructure Entitlement management market is segmented into IT and telecom, BFSI, healthcare, manufacturing, retail and e-commerce, and others. The IT and Telecom held the largest share in the Cloud Infrastructure Entitlement management (CIEM) market in 2023.
The Cloud Infrastructure Entitlement Management (CIEM) market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

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Key Players and Competitive Landscape:

The CIEM Market is characterized by the presence of several major players, including:

Microsoft
Palo Alto Networks
Check Point Software Technologies Ltd.
CrowdStrike Holdings Inc.
CyberArk Software Ltd
Radware Ltd
One Identity LLC
Zscaler Inc.
Orca Security
Tenable, Inc.

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

CIEM Market Recent Developments and Innovations:

"Check Point Software Technologies Ltd. reinforced its Web Application Firewall with the powerful API Discovery feature aimed at strengthening organizations' cloud assets."
"Palo Alto Networks and IBM announced a broad-reaching partnership to deliver AI-powered security outcomes for customers. The announcement is a testament to Palo Alto Networks and IBM's commitment to each other's platforms and innovative capabilities."
"Radware announced the launch of a new cloud security service center in Paris, France. The launch of the new facility extends Radware's DDoS attack mitigation capacity to 15Tbps across a network of more than 50 cloud security service centers worldwide."
"Tenable Holdings, Inc. announced that it had signed a definitive agreement to acquire Eureka Security, Inc., a provider of data security posture management (DSPM) for cloud environments."
“Lacework announced the launch of cloud entitlement management capability to its cloud-native application protection platform (CNAPP). With this new set of capabilities, organizations can enforce the principle of least privilege when building, deploying, using, and managing cloud infrastructure services.”
“Uptycs announced the launch of cloud infrastructure entitlement management (CIEM) capabilities that strengthen its cloud security posture management (CSPM) offering. In addition, Uptycs announced CSPM support for Google Cloud Platform (GCP) and Microsoft Azure, as well as PCI compliance coverage. These new capabilities provide security and governance, risk, and compliance teams with continuous monitoring of cloud services, identities, and entitlements in order to reduce their cloud attacks risk.”

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CIEM Market Drivers and Opportunities:

In the past few years, the adoption of hybrid and multi-cloud infrastructure has accelerated exponentially. A recent survey by Dataversity Digital LLC suggested that 98% of companies on the public cloud have already planned to switch to a multi-cloud architecture. Furthermore, according to the 2022 Global Hybrid Cloud Trends Report, 82% of organizations have adopted a hybrid cloud. In the coming years, we will witness more companies shifting toward hybrid and multi-cloud environments. CIEM plays a pivotal role in hybrid and multi-cloud environments, providing centralized visible control and enhanced security. Thus, rising demand for hybrid and multi-cloud solutions provides opportunities for Cloud Infrastructure Entitlement management (CIEM) market growth.

Challenges and Future Outlook:

The Asia Pacific Cloud Infrastructure Entitlement management (CIEM) market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. In terms of revenue, China dominated the Cloud Infrastructure Entitlement management (CIEM) market share. The growth of cloud technology is expected to witness a rise in investment for cloud deployments across emerging markets and developed markets in the region. Cloud adoption is driven by the establishment of data centers across APAC countries by major providers such as Microsoft, Amazon Web Services, and Google Cloud. Also, better bandwidth connectivity to emerging economies in the region has easily allowed the providers to offer cloud services from hubs such as Singapore. Further, banking and financial services are adopting cloud technologies to store huge amounts of customer data. The growing adoption of cloud computing across the region is driving the demand for Cloud Infrastructure Entitlement management (CIEM), particularly after the onset of the COVID-19 pandemic, as organizations started relying on the cloud to ensure employees can securely access networks and resources from home. For instance, according to a report published by Cisco, organizations in Asia Pacific across various sectors such as BFSI, telecommunications, government & defense, financial services, and manufacturing have been the most active in the adoption of cloud networking. All such factors contribute to the Cloud Infrastructure Entitlement management (CIEM) market growth in Asia Pacific.

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China has a vast and rapidly growing cloud market. Government support for digital transformation has led to increased cloud adoption in more traditional sectors in the country. For example, through the 14th Five Year Plan (14th FYP), the government of China is prompting the digital transformation of Chinese industries. Chinese businesses aim to get a well-organized, simple, and stable cloud environment. Users in China are focused on utilizing cloud computing on a large scale. Thus, the significant potential in the Chinese cloud market is likely to boost the adoption of Cloud Infrastructure Entitlement management solutions and services in the coming years.

India has a huge potential for adopting cloud computing owing to the ongoing transition toward digitalization and the growing need for faster-speed data transmissions. Cloud adoption has increased rapidly in the country during the COVID-19 pandemic as enterprises adopted new technologies to maintain uninterrupted operations and address their needs. Multi-cloud adoption has emerged as a valuable cloud strategy, enabling them to become more agile so that they can scale up or down as needed and avoid vendor lock-in. According to the January 2022 report published by Nutanix, enterprises in India began moving to multi-cloud environments during the COVID-19 pandemic for security, performance, cost efficiencies, and business continuity, especially with a surge in remote working. Moreover, 84% of Indian enterprises prefer a hybrid multi-cloud operating model. According to a blog published by Cyber Media (India) Ltd in May 2021, 22% of enterprises in India are using a multi-cloud environment, which is expected to reach 50% in the coming two years. All such factors contribute to India's significant Cloud Infrastructure Entitlement management (CIEM) market growth.

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Conclusion:

Zero trust is reshaping the Cloud Infrastructure Entitlement management solution in a new era of stringent security practices. The goal of the zero trust security model is to grant access to assets as precisely as early as possible so that employees have permission to use specific accounts, applications, or equipment only when needed and for a specific reason. The zero trust security model effectively reduces the risk of unauthorized access and lateral movement within cloud networks, protecting sensitive data, applications, and infrastructure by eliminating trust assumptions and implementing continuous verification. Zero trust actively improves visibility with the help of granular insights into user activity, device health, and network traffic. This helps enterprises identify and quickly address threats, safeguarding their cloud environments. The zero trust security model provides companies the flexibility and scalability to modify their security measures in response to changing demands and workloads while preserving robust security postures against emerging threats and evolving technologies.

With projected growth to $14.11 billion by 2031, the Cloud Infrastructure Entitlement Management (CIEM) Market represents a significant opportunity for component providers, system technology integrators, investors, system manufacturers, and industry stakeholders. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

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Unleash CIEM Solutions: Cloud Infrastructure Entitlement Management Market Skyrockets to $14.11 Billion by 2031

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