At 37.6% CAGR, Europe Cloud Infrastructure Entitlements Management (CIEM) Market is Projected to be worth US$ 3,955.41 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe cloud infrastructure entitlements management (CIEM) market was valued at US$ 307.17 million in 2023 and is expected to reach US$ 3,955.41 million by 2031, registering a CAGR of 37.6% from 2023 to 2031. Increasing adoption of cloud-based deployment models and stringent government regulations are among the critical factors attributed to drive the Europe cloud infrastructure entitlements management (CIEM) market growth.

The majority of organizations worldwide accept cloud services as a viable IT deployment model. The most popular rationale for cloud adoption continues to be the flexibility and data security of the cloud as a delivery platform. Many businesses have already migrated to one or more cloud services, influencing others to adopt the cloud to gain a competitive advantage. The cloud is recognized as a credible deployment model within an organization's IT strategy, with two-thirds of global end users utilizing a cloud service in order to expand their footprint in the coming years. According to the US, the combined market share of Amazon, Microsoft, and Google in the global public cloud services market was more than 50%. Cloud service providers are well-positioned to expand their global footprint while maintaining innovation and commercial leadership. There were several investments in cloud technologies. In September 2021, Qovery, the cloud deployment service, raised US$ 4 million in funding and intended to support the Google Cloud Platform. In September 2021, RunX raised US$ 4.1 million to make cloud infrastructure deployment easier for developers. In July 2019, Google LLC acquired Elastifile, an enterprise cloud storage provider, to expand its cloud-based file storage capabilities for enterprise-grade applications. The former company's current file storage offerings, third-party partner offerings, and Cloud Filestore were all extended due to this acquisition. Thus, the increasing adoption of cloud-based deployment models fuels the cloud infrastructure entitlements management market growth.

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

Based on component, the Europe cloud infrastructure entitlements management (CIEM) market is bifurcated into solution and services. The solution segment held 76.9% market share in 2023, amassing US$ 236.14 million. It is projected to garner US$ 3,100.74 million by 2031 to register 38.0% CAGR during 2023–2031.

In terms of organization size, the Europe cloud infrastructure entitlements management (CIEM) market is bifurcated into large enterprises and SMEs. The large enterprises segment held 75.7% share of Europe cloud infrastructure entitlements management (CIEM) market in 2023, amassing US$ 232.45 million. It is anticipated to garner US$ 3,098.72 million by 2031 to expand at 38.2% CAGR during 2023–2031.

By vertical, the Europe cloud infrastructure entitlements management (CIEM) market is segmented into IT and telecom, healthcare, manufacturing, BFSI, retail and ecommerce, and others. The manufacturing segment held 21.7% market share in 2023, amassing US$ 66.51 million. It is projected to garner US$ 882.03 million by 2031 to register 38.1% CAGR during 2023–2031.

By country, the Europe cloud infrastructure entitlements management (CIEM) market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 26.3% share of Europe cloud infrastructure entitlements management (CIEM) market in 2023. It was assessed at US$ 80.86 million in 2023 and is likely to hit US$ 1,146.97 million by 2031, registering a CAGR of 39.3% during 2023–2031.

Key players operating in the Europe 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com