Europe Cloud Infrastructure Entitlements Management (CIEM) Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe Cloud Infrastructure Entitlements Management (CIEM) market was valued at approximately US$ 307.17 million in 2023 and is projected to grow significantly, reaching around US$ 3.95 billion by 2031. This growth represents a remarkable compound annual growth rate (CAGR) of 37.6% from 2023 to 2031.

Drivers of Market Growth

One of the primary factors driving the CIEM market in Europe is the increasing stringency of government regulations. Organizations across various sectors, particularly those handling sensitive information such as healthcare, finance, and government, are required to comply with complex regulations like GDPR, HIPAA, PCI-DSS, and SOX. These regulations mandate strict security measures to protect sensitive data, making CIEM an essential component of an organization’s cybersecurity framework. Non-compliance can result in severe penalties, including hefty fines and reputational damage. For instance, GDPR violations can incur fines of up to €20 million or 4% of a company’s global annual revenue, while HIPAA violations can lead to fines of up to $1.5 million per incident. Other regulations, such as those enforced by the SEC and OSHA, can also impose significant financial penalties. A Kaspersky survey indicated that the average financial loss from regulatory violations is around $551,000, with small and medium-sized enterprises (SMEs) facing an average loss of $38,000. Consequently, the need for effective CIEM solutions to ensure compliance with these regulations presents substantial growth opportunities for the market.

Market Overview

In the UK, the CIEM market was valued at approximately US$ 80.86 million in 2023, with expectations to reach about US$ 1.14 billion by 2031, reflecting a CAGR of 39.3%. The UK government’s Cloud First Policy has significantly influenced cloud adoption, leading businesses to increasingly prefer cloud solutions for their IT service needs. This trend is further supported by the rise in digitalization and the adoption of digital solutions by SMEs, which is driving demand for cloud security solutions. Additionally, the UK government’s initiatives to enhance cybersecurity, such as the introduction of the Cyber Security and Resilience Bill in July 2024, aim to mitigate cyber threats across essential services and improve overall cybersecurity preparedness. This legislative proposal will impact various sectors, including transport, energy, healthcare, and cloud computing services, thereby promoting the adoption of CIEM solutions.

Market Segmentation

The Europe CIEM market can be segmented based on components, organization size, verticals, and countries:

1. Component: The market is divided into solutions and services, with the solutions segment holding a larger share in 2023.

2. Organization Size: The market is categorized into large enterprises and SMEs, where large enterprises accounted for a larger market share in 2023.

3. Vertical: The market is segmented into various sectors, including IT and telecom, healthcare, manufacturing, BFSI (Banking, Financial Services, and Insurance), retail and e-commerce, among others. The manufacturing sector held the largest market share in 2023.

4. Country: The market is analyzed by country, including the UK, Germany, France, Italy, Russia, and the Rest of Europe, with the UK leading the market share in 2023.

Key Players in the Market

Several prominent companies are active in the Europe CIEM market, including 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. These companies are at the forefront of providing innovative CIEM solutions to meet the growing demand for cloud security and compliance in the region.

In summary, the Europe CIEM market is poised for substantial growth driven by regulatory compliance needs, increasing cloud adoption, and the rising importance of cybersecurity across various sectors.

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