At 40.5% CAGR, Asia Pacific Cloud Infrastructure Entitlements Management (CIEM) Market is Projected to be Worth US$ 3,570.34 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific cloud infrastructure entitlements management (CIEM) market was valued at US$ 235.43 million in 2023 and is expected to reach US$ 3,570.34 million by 2031, registering a CAGR of 40.5% from 2023 to 2031. Stringent government regulations and increasing adoption of cloud-based deployment models are among the critical factors attributed to drive the Asia Pacific cloud infrastructure entitlements management (CIEM) market growth.

Various industry and government regulations require businesses to adhere to strict security controls. In such a scenario, cloud infrastructure entitlements management is a crucial aspect of an organization's cybersecurity strategy. In industries such as healthcare, finance, and government that handle sensitive data, organizations of all sizes must comply with complex regulations such as GDPR, HIPAA, PCI-DSS, and SOX to protect the sensitive data of consumers and businesses. Failure to comply with these regulations can lead to heavy fines and damage to the organization's reputation. For instance, the General Data Protection Regulation (GDPR), established in 2018, imposes fines ranging up to US$ 21.68 million (EUR 20 million) or 4% of the company's global annual revenue, whichever is higher. Similarly, the Health Insurance Portability and Accountability Act (HIPAA) violations fines can range up to US$ 1.5 million per violation. The Securities and Exchange Commission (SEC) imposes fines from tens of thousands to millions of dollars. The Occupational Safety and Health Administration (OSHA) violations fines can range up to US$ 134,937 per violation, whereas the Foreign Corrupt Practices Act (FCPA) violations can require a fine of a total of US$ 25 million or more. The Environmental Protection Agency (EPA) can fine up to US$ 50,000 per day per violation. Companies worldwide have faced huge fines due to the violation of these regulations. For instance, according to a survey of 500 organizations worldwide by Kaspersky, the average loss of a company from a violation is US$ 551,000, of which the average loss of small and medium-sized companies from a violation is US$ 38,000. Thus, organizations are required to implement cloud infrastructure entitlements management solutions to comply with stringent government regulations such as PCI DSS, CCPA, HIPAA, SOX, and GDPR, providing lucrative opportunities for market growth.

On the contrary, the lack of consistency and standards across clouds hamper the growth of Asia Pacific cloud infrastructure entitlements management (CIEM) market.

Based on component, the Asia Pacific cloud infrastructure entitlements management (CIEM) market is bifurcated into solution and services. The solution segment held 73.4% market share in 2023, amassing US$ 172.69 million. It is projected to garner US$ 2,646.42 million by 2031 to register 40.7% CAGR during 2023–2031.

In terms of organization size, the Asia Pacific cloud infrastructure entitlements management (CIEM) market is bifurcated into large enterprises and SMEs. The large enterprises segment held 71.7% share of Asia Pacific cloud infrastructure entitlements management (CIEM) market in 2023, amassing US$ 168.78 million. It is anticipated to garner US$ 2,624.35 million by 2031 to expand at 40.9% CAGR during 2023–2031.

By vertical, the Asia Pacific cloud infrastructure entitlements management (CIEM) market is segmented into IT and telecom, healthcare, manufacturing, BFSI, retail and ecommerce, and others. The manufacturing segment held 24.2% market share in 2023, amassing US$ 56.87 million. It is projected to garner US$ 904.06 million by 2031 to register 41.3% CAGR during 2023–2031.

By country, the Asia Pacific cloud infrastructure entitlements management (CIEM) market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 30.5% share of Asia Pacific cloud infrastructure entitlements management (CIEM) market in 2023. It was assessed at US$ 71.73 million in 2023 and is likely to hit US$ 1,263.50 million by 2031, registering a CAGR of 43.1% during 2023–2031.

Key players operating in the Asia Pacific cloud infrastructure entitlements management (CIEM) market are Microsoft Corp, Palo Alto Networks Inc, CrowdStrike Holdings Inc, CyberArk Software Ltd., One Identity LLC., Radware Ltd, Zscaler Inc, Tenable Holdings Inc, Check Point Software Technologies Ltd, and BeyondTrust Corporation, among others.

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