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. The expansion of the CIEM market is propelled by the rise in inadequate management of identity, access, and privileges that have heightened the demand for robust CIEM solutions, which can effectively combat these evolving risks. The pressing need to overcome the challenge of the lack of awareness of cloud resources, cloud security architecture, and strategy have prompted organizations to adopt CIEM solutions.
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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.
Government regulations and the imperative for compliance have also played a significant role in adopting CIEM solutions as businesses strive to meet security requirements and protect sensitive data. Additionally, the rapid proliferation of technology, such as IoT/ AI, which is also increasing cyberattacks, necessitates implementing CIEM solutions to detect and respond to emerging threats proactively. Together, these factors form a powerful force behind the growth and advancement of the CIEM market.
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What is CIEM?
CIEM solutions manage identities & access rights and privileges across single-cloud or multi-cloud ecosystems. The notion of least privilege access is applied to cloud infrastructure with the help of CIEM solutions, providing IT and security organizations with fine-grained with fine-grained control over cloud permissions and complete visibility into entitlements. They help businesses strengthen security and accelerate the adoption of cloud-native applications by identifying and removing excessive permissions.
Competitive overview:
The CIEM market is led by some of the globally established players, such as 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). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.
Microsoft (US) is a global technology company that aims to enable people and businesses worldwide to realize their full potential through innovative technological solutions. The company offers various products and services, including operating systems, productivity applications, business solutions, server applications, SDKs, video games, and online advertising. Microsoft also offers suites and cloud-based solutions and provides consulting, support, and training services. The three business segments that comprise the corporation are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Microsoft offers Entra Permission Management as a CIEM product, providing comprehensive visibility into permissions assigned to all identities, actions, and resources across Microsoft Azure, Amazon Web Services (AWS), and Google Cloud Platform (GCP).
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CyberArk (US) is a leading identity security provider that offers solutions to protect organizations from external and internal cyberattacks. The company primarily provides audit and compliance solutions, security and risk management solutions, and security and compliance solutions by project. The security solutions from CyberArk were designed to safeguard vital business data and infrastructure, secure a remote workforce, and speed up cloud-based operations. The CyberArk Identity Security Platform is built on intelligent privilege controls that protect against the leading causes of breaches, including compromised human and machine identities and credentials. The platform seamlessly secures human and machine identities accessing workloads in hybrid to multi-cloud environments. It automates the identity lifecycle while continuously detecting and preventing threats to enable Zero Trust and enforce the least privilege. CyberArk's customers include enterprises in various verticals, such as energy and utilities, financial services, healthcare, manufacturing, retail, technology and telecommunications, and government agencies. The company's software solutions protect privileged accounts, credentials, and secrets, with products such as Endpoint Privilege Management, Workforce Password Management, Privileged Access Management, Secrets Management, and Cloud Entitlement Management. CyberArk has offices in North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific.
Palo Alto Networks (US) is a leading provider of network security solutions that enable the company's clients to safely operate applications on their networks and prevent any security breach or targeted cyberattack. The company's broad range of solutions provides network security, endpoint security, and cloud services. Its next-generation security platform consists of three major components: NGFW, Advanced Endpoint Protection, and Threat Intelligence Cloud. Palo Alto Networks' solution portfolio helps enhance the security of existing infrastructure for verticals such as healthcare and BFSI. Palo Alto Networks supports the zero-trust movement and understands the importance of it for organizations. The company offers support and maintenance, and professional services. These services include planning, designing, and deploying effective security solutions. Palo Alto Networks delivers its solutions to SMEs and large enterprises across verticals, such as government, BFSI, healthcare, retail, electric utilities, oil and gas, and education. The company majorly earns revenue from North America, and the revenue mix consists of products, subscriptions, and support-related services. Its customers are spread across all five major geographies: North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
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