Cloud Infrastructure Entitlement Management (CIEM) Market Outlook: Opportunities and Challenges for Businesses, Latest Forecast Report by 2028

The market for CIEM appears to have a bright future as more businesses prioritise security and compliance while utilising cloud services. The market for CIEM is anticipated to grow and innovate as a result of factors like increased security concerns, changing compliance requirements, hybrid and multi-cloud settings, integration with IAM, and developments in AI and ML.

The global Cloud Infrastructure Entitlement Management (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% during the forecast period, according to a new report by MarketsandMarkets?. The growth of the CIEM Market is driven by factors such as the need for proper management of identity and access privileges, enhanced visibility into identities/ excessive privileges in the cloud, and compliance across multiple cloud infrastructures are fueling the demand for CIEM to address associated security risks.

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Based on offerings, the professional services segment is to grow at the highest CAGR during the forecast period.

Professional services are crucial in implementing and deploying CIEM solutions in an enterprise. Professional services include implementation services, integration services, training, and post support services. Companies such as CyberArk, Check Point, CrowdStrike, SailPoint, BeyondTrust, Palo Alto Networks, among others are the key CIEM service providers. Currently, cybersecurity attacks are on the rise, and there is a requirement for holistic standards-based security solutions.

Based on verticals, BFSI is to hold the largest market size during the forecast period.

Banks and financial institutes have adopted modern ways of carrying out financial transactions. Cloud is driving a significant change in the way the BFSI industry works. Cloud services enable BFSI organizations to leverage a seamlessly available and efficient network. Organizations in the BFSI vertical are eliminating the substantial capital costs of running and maintaining complex on-site IT facilities. The high upfront costs of procuring hardware are also eliminated due to cloud adoption. CIEM providers allow banks to define and enforce access policies across their cloud infrastructure. Thus, the BFSI vertical holds a larger market size during the forecast period.

Based on regions, Asia Pacific is to grow at the highest CAGR during the forecast period.

Asia Pacific accounts for the growth in CIEM as it consists of thriving economies, such as Singapore, Japan, China, and India, which are expected to register high growth rates in the CIEM Market. China has witnessed immense industrial growth and is the world's manufacturing capital. Government initiatives to ensure cloud security are also driving the adoption of cloud computing in the region. The increasing adoption of cloud and mobile technologies and changing work dynamics have led to the adoption of CIEM solutions across verticals, such as healthcare, retail & consumer goods, BFSI, and telecommunications in countries of the region. As a result, Asia Pacific is anticipated to grow at the highest CAGR during the forecasted period.

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Cloud Infrastructure Entitlement Management (CIEM) Market Dynamics

Driver:

·????????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

Restraint:

·????????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

Top Key Companies in Cloud Infrastructure Entitlement Management (CIEM) Market:

Microsoft (US), CyberArk (US), Palo Alto Networks (US), Check Point (Israel), Zscaler (US), BeyondTrust (US), Rapid7 (US), CrowdStrike (US), SailPoint (US), Saviynt (US), Orca Security (US), EmpowerID (US), Senhasegura (Brazil), Sysdig (US), NextLabs (US), Britive (US), StrongDM (US), Solvo (Israel), Ermetic (US), One Identity (US), Authomize (US), Sonrai Security (US), Radware (Israel), SecurEnds (US), and SSH Communications Security (Finland) are the key players and other players in the CIEM Market.

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Recent Developments:

·????????In September 2022, CrowdStrike announced new Cloud Native Application Protection Platform (CNAPP) capabilities for CrowdStrike Cloud Security, including CIEM features and the integration of CrowdStrike Asset Graph. By preventing identity-based threats caused by misconfigured cloud entitlements, CIEM empowers organizations to enhance their cloud security posture. Meanwhile, Asset Graph delivers comprehensive visibility of the cloud attack surface.

·????????In August 2022, CyberArk (US) acquired C3M, a cloud security posture management (CSPM) software company that supports Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform.

·????????In February 2022, Check Point (Israel) acquired Spectral. With this acquisition, Check Point will increase the developer-first security capabilities of its cloud solution, Check Point CloudGuard, and offer the broadest spectrum of cloud application security use cases.

·????????In July 2021, Microsoft (US) acquired CloudKnox Security, a pioneer in CIEM. CloudKnox provides total visibility into privileged access and assists organizations in right-sizing permissions and enforcing least-privilege principles. It also offers Azure AD customers continuous monitoring, granular visibility, and automatic hybrid and multi-cloud rights remediation.

·????????In April 2021, Zscaler (US) acquired Trustdome, a CIEM company, to address cloud workload issues. Trustdome's development team and CIEM technology will be integrated with Zscaler's current CSPM platform, resulting in a holistic solution for minimizing public cloud attack surfaces and enhancing security posture. With its first development center in Israel, Zscaler also broadens its geographic scope.

Cloud Infrastructure Entitlement Management (CIEM) Market Advantages:

·????????For cloud environments, CIEM systems offer strong security controls and access management capabilities. They aid businesses in locating and controlling overly generous privileges, underused entitlements, and potential security hazards. The danger of unauthorised access, data breaches, and insider threats is decreased by CIEM's enforcement of the concept of least privilege, which guarantees that users only have access to what is required.

·????????Organisations can follow industry best practises and comply to regulatory compliance standards with the aid of CIEM solutions. To prove compliance with numerous standards, like PCI DSS, HIPAA, GDPR, and others, they provide ongoing monitoring, auditing, and reporting capabilities. Effective governance of cloud resources is made possible by CIEM, which gives organisations better visibility into user entitlements, access patterns, and policy infractions.

·????????The management of user entitlements across numerous cloud platforms and applications is made simpler by CIEM. Organisations can manage entitlements, roles, and permissions uniformly thanks to its centralised control and visibility over user access. The providing and deprovisioning of user access is streamlined by CIEM, which also makes it simpler to grant and revoke permissions, lowers administrative costs, and ensures timely access management.

·????????Organisations can discover and reduce risks related to excessive permissions, orphaned accounts, and improperly set access controls with the aid of CIEM solutions. They provide real-time monitoring and anomaly detection capabilities to find potentially dangerous security risks, peculiar access patterns, and suspect user behaviour. CIEM assists organisations in improving their security posture and lowering the possibility of security incidents by proactively identifying and resolving threats.

·????????By ensuring that users have appropriate access to the required resources and services, CIEM helps organisations to maximise their usage of cloud resources. It aids in the elimination of pointless entitlements, lowering the risk of resource misuse and raising operational effectiveness. Additionally, CIEM streamlines self-service access request workflows so users may easily request and receive access to resources without manual involvement.