Cloud Infrastructure Entitlements Management (CIEM) Market is expected to reach US$ 14.11 Billion by 2031

Rising Cloud-Based Cyberattacks to Bolster Global Cloud Infrastructure Entitlements Management (CIEM) Market During 2023–2031

According to our latest market study, “Cloud Infrastructure Entitlements Management (CIEM) Market Forecast to 2031, Global and Regional Share, Trend, and Growth Opportunity Analysis — by Component, Organization Size, and End User,” the market 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 report includes growth prospects in light of current cloud infrastructure entitlements management (CIEM) market trends and driving factors influencing the market.

The adoption of cloud computing has gained huge traction in recent years with key players such as Amazon, Google, and Microsoft. Cloud computing has altered the way 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 are more vulnerable than data on on-site servers. Misconfiguration compromised user accounts, API vulnerabilities, malicious insider activity, and others are a few of the major causes of cloud computing cyberattacks. In recent years, the number of attacks on platforms has increased rapidly. Cloud-based cyberattacks accounted for 20% of all cyberattacks in 2020, making cloud-based platforms the third most-targeted cyber environment. In January 2020, Microsoft announced that one of its cloud databases was breached in December 2019, which resulted in the exposure of 250 million entries, including email addresses, IP addresses, and support case details.

Cloud Infrastructure Entitlements Management (CIEM) Market Analysis– by Geography, 2023 to 2031

Source: The Insight Partners Analysis

Furthermore, according to the Check Point report, in 2022, cloud-based cyberattacks are witnessing an increase of 48% year-on-year. Similarly, in November 2022, one of India’s largest hospitals, the All India Institute of Medical Sciences (AIIMS) in New Delhi, experienced a ransomware attack. The attack cut off access to approximately 1.3 terabytes of data and impacted the hospital’s electronic medical records system. Data from the Indian Computer Emergency Response Team (CERT-In) reveals that India encountered nearly 1.4 million cyberattacks in 2022, and among these, attacks on cloud systems were the highest. Similarly, Thales Cloud Security survey of approximately 3,000 IT and security professionals across 18 countries in 2023 found that 39% of businesses experienced a data breach in their cloud environment in 2022. According to the 2022 State of Cloud Security Report by Snyk, 45% of breaches are cloud-based, 80% of the surveyed companies have experienced at least one cloud security incident in 2021, and 27% of enterprises have experienced a public cloud security incident in 2022, an increase of 10% from 2021. Such increased data breaches are expensive in terms of reputational damage, downtime, compliance fines, and legal fees. Public cloud breaches are more expensive than hybrid cloud breaches. As more people migrate to the cloud, the challenge of security will also increase. In such a scenario, it becomes necessary to protect enterprises against the sophisticated cyberattacks currently being targeted toward cloud data with solutions such as cloud infrastructure entitlements management. 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, rising cloud-based cyberattacks are expected to fuel the cloud infrastructure entitlements management (CIEM) market growth in the coming years.

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 players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The cloud infrastructure entitlements management (CIEM) market report provides detailed market insights, which help the key players strategize their growth.

The North America cloud infrastructure entitlements management (CIEM) market size was valued at US$ 0.38 billion in 2023 and is projected to reach US$ 5.46 billion by 2031; it is anticipated to record a CAGR of 39.2% during the forecast period. In terms of revenue, North America dominated the cloud infrastructure entitlements management (CIEM) market share. North America is one of the fastest-growing regions in terms of both technological innovations and the adoption of advanced technologies. The growing availability of high-speed connectivity, increase in cloud adoption, rise in the growth of IoT, and rapid adoption of work-from-home policy and emerging technology to promote IoT adoption are the crucial factors supporting the market growth. Furthermore, cloud computing is a major trend across all organizations in the region. According to STATS Group, cloud spending is 25% of total IT budgets in North America. Moreover, financial service institutions across North America are the largest adopters of the cloud.

In North America, the US is expected to hold the largest cloud infrastructure entitlements management (CIEM) market share and record the highest CAGR during 2023–2031. 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 growth of the market 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 further helped US-based companies maintain a strong presence in international markets by expanding their businesses through partnerships with other cloud service providers.

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