Global Cloud Infrastructure Entitlement Management Market Size, Share & Industry Trends Analysis Report

Global Cloud Infrastructure Entitlement Management Market Size, Share & Industry Trends Analysis Report By Offering (Solution and Professional Services), By Vertical, By Regional Outlook and Forecast, 2023 - 2030

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.

Market Growth Factors

Increasing BYOD and remote working models adoption

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.

Rising application of technology to recommend the fewest rights for a particular kind of task

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.

Market Restraining Factors

Inadequate technical ability to install CIEM

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.

Offering Outlook

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.

Vertical Outlook

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.

Regional Outlook

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.

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.)

Recent Strategies Deployed in Cloud Infrastructure Entitlement Management Market

Partnerships, Collaborations and Agreements:

Apr-2023: BeyondTrust partnered with Jamf, a software development company based in the US. The partnership aims at providing customers with an enhanced portfolio of solutions that would allow them to simultaneously boost productivity and corporate security.

Apr-2023: BeyondTrust teamed up with Moro Hub, a database management company based in UAE. The partnership aims at providing enterprises based in the UAE of the two companies with an enhanced portfolio of Privileged Access Management (PAM) solutions that are customizable according to the needs of the user.

Mar-2023: BeyondTrust announced a partnership with BIO-key International, Identity and Access Management solution provider. The partnership aims at providing Identity-based biometrics for increased security by integrating BIO-key International's PortalGuard® Identity-as-a-Service (IDaaS) platform with BeyondTrust's Privileged Remote Access solution. The partnership allows the two companies to serve their customers in a better way by providing them with an enhanced portfolio of privileged remote access solutions.

Dec-2022: Microsoft Corporation partnered with the London Stock Exchange Group, a leading global financial markets infrastructure and data provider. The partnership would be created on the better progress made by LSEG on the combination of Refinitive and improve its place as a global financial market infrastructure and data provider.

Sep-2022: Palo Alto Networks partnered with Wipro, an India-based Information technology company. With this partnership, the company would deliver its customers' complete platforms with managed services to support customers protect the cloud, and network and broadening their edge in a way that is combined, simple, and automated.

Mar-2022: Palo Alto Networks came into a partnership with Amazon Web Services, an online platform that provides scalable and cost-effective cloud computing solutions. This partnership aimed to launch Palo Alto Networks Cloud NGFW for AWS a controlled Next-Generation Firewall service developed to clarify securing AWS deployments allowing the enterprise to accelerate the pace of innovation while outstanding safety.

Product Launches and Product Expansions:

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.

May-2023: BeyondTrust introduced Analytics v2. The Analytics v2 is used for gaining an understanding of user behavior and taking actions for policy improvement. The features of Analytics v2 include saved views, VirusTotal for events, and application-level integration.

Feb-2023: Check Point Software Technologies Ltd. unveiled the Check Point CloudGuard Cloud Native Application Protection Platform, a new risk management engine along with enhanced capabilities. The product with the latest capabilities adds intelligent risk prioritization, entitle management, and agentless scanning, and the new capabilities add intelligent risk prioritization, agentless scanning, entitlement management, and pipeline security.

Sep-2022: Check Point® Software Technologies Ltd. Introduced Check Point Horizon, the prevention-focused offering of security operations solutions and services that integrates proactive management solutions for Managed Prevention and Response, Extended Prevention and Response, and Events. This launch would enhance defenses in the network, cloud, and endpoints and prevent future cyberattacks.

Jun-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.

Jan-2022: BeyondTrust announced the launch of version 22.1 of the Privileged Remote Access solution. The new version is used for enforcing enhanced control and least privilege. The new version features dark mode, Vault - Service Account Management, and Jump item relation.

Acquisitions and Mergers:

Dec-2022: Palo Alto Networks took over Cider Security, a company engaged in software chain security and application security. This acquisition offers Cider's technology of deep visibility and analysis of the processes and tools which are used across the application development lifecycle, which results in the capability to recognize and remediate sensitive risks at every level.

Aug-2022: CyberArk took over C3M, a cloud security posture management (CSPM) software company. This acquisition would enable MSSP & MSP partners to find &fix cloud security misconfigurations across Google Cloud, Microsoft Azure, and AWS.

Feb-2022: Check Point® Software Technologies Ltd. took over Spectral, an Israel-based innovator in advanced-first security tools. Under this acquisition, Checkpoint would broaden its cloud solution, Check Point CloudGuard, with the developer's first security platform and deliver a broad range of cloud application security use cases consisting of Infrastructure as Code scanning and hardcoded secrets detection.

Geographical Expansions:

Mar-2023: CyberArk announced the opening of a new facility in India. The new facility would serve as a research and development hub for cyberattack solutions.

Mar-2023: Radware opened a next-generation cloud application security center across Tel Aviv, Israel. The Opening of the security center is part of the company's cloud security service growth initiative that is focused on scalability and advancement.

Jan-2023: Radware expanded its geographical presence by opening new cloud security centers across Canada, Auckland, Australia, New Zealand, and Melbourne. The facilities would decrease traffic latency and also enhance service mitigation and redundancy capacity to help customers defend against web application attacks, denial-of-service attacks, and malicious both traffic and attacks.

Scope of the Study

Market Segments covered in the Report:

By Offering

• Solution
• Professional Services

By Vertical

• BFSI
• IT & ITeS
• Retail & eCommerce
• Healthcare
• Telecommunications
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Microsoft Corporation
• CyberArk Software Ltd.
• Palo Alto Networks, Inc.
• Check Point Software Technologies Ltd.
• BeyondTrust Corporation
• Rapid7, Inc.
• NextLabs, Inc.
• Radware Ltd.
• EmpowerID, Inc.
• One Identity LLC (Quest Software, Inc.)

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