PUBLISHER: The Insight Partners | PRODUCT CODE: 1843299
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843299
The Asia Pacific Cloud Infrastructure Entitlements Management (CIEM) market was valued at approximately US$ 235.43 million in 2023 and is projected to grow significantly, reaching around US$ 3,570.34 million by 2031. This growth represents a remarkable compound annual growth rate (CAGR) of 40.5% from 2023 to 2031.
Growth Drivers in the CIEM Market
The increasing adoption of cloud-based deployment models is a primary driver for the growth of the CIEM market in the Asia Pacific region. Organizations globally are increasingly recognizing cloud services as a viable IT deployment strategy. The flexibility and enhanced data security offered by cloud platforms are among the key reasons for this trend. Many businesses have transitioned to one or more cloud services, encouraging others to follow suit in order to maintain a competitive edge. Currently, about two-thirds of global end users are utilizing cloud services, which is expected to expand further in the coming years. Cloud service providers are strategically positioned to enhance their global presence while continuing to innovate and lead commercially.
Significant investments in cloud technologies have also been observed. For instance, in September 2021, Qovery, a cloud deployment service, secured US$ 4 million in funding to support the Google Cloud Platform. Similarly, RunX raised US$ 4.1 million in the same month to simplify cloud infrastructure deployment for developers. Additionally, Google LLC's acquisition of Elastifile in July 2019 aimed to bolster its enterprise cloud storage capabilities, further illustrating the momentum in cloud technology investments. These developments collectively contribute to the growth of the CIEM market.
Overview of the Asia Pacific CIEM Market
China stands out as a rapidly expanding cloud market within the Asia Pacific region. The Chinese government has been actively promoting digital transformation across various traditional sectors, particularly through initiatives like the 14th Five Year Plan (14th FYP). This governmental support is driving increased cloud adoption, as businesses in China seek to establish organized, efficient, and stable cloud environments. The large-scale utilization of cloud computing in China is expected to significantly enhance the demand for CIEM solutions and services in the near future.
Market Segmentation Analysis
The Asia Pacific CIEM market can be segmented based on components, organization size, verticals, and countries:
Key Players in the CIEM Market
Several prominent companies are actively involved in the Asia Pacific CIEM market, including:
These companies are at the forefront of providing innovative CIEM solutions and services, contributing to the overall growth and development of the market in the Asia Pacific region.