Public key infrastructure (PKI) is a framework that ensures secure communication through the use of public key cryptography. It provides a set of features including digital certificates, key management, and cryptographic protocols. PKI is applied in various fields such as secure email communication, e-commerce transactions, secure VPN connections, and digital signatures. Digital certificates validate the authenticity and integrity of parties involved in communication, while key management ensures secure storage and distribution of cryptographic keys. Cryptographic protocols, such as SSL/TLS, establish secure connections. PKI plays a vital role in establishing trust and enabling secure interactions in the digital world.
According to Data Bridge Market Research, the Global Public Key Infrastructure (PKI) Market is expected to reach USD 5.65 million by 2029. The market is expected to grow with a CAGR of 8.37% in the forecast period of 2022 to 2029.
“Growing market demand in various industries boosts the market’s growth”
The public key infrastructure (PKI) market is experiencing significant growth due to the growing market demand across various industries. Industries such as healthcare, finance, government, and e-commerce rely on PKI to establish secure communication, protect sensitive data, and ensure the integrity of digital transactions. The increasing adoption of cloud-based services, IoT devices, and digital transformation initiatives further drives the demand for PKI. As organizations prioritize data security and regulatory compliance, the demand for PKI solutions and services continues to rise, fueling the growth of the PKI market.
What restraints the growth of the global public key infrastructure (PKI) market?
“Lack of knowledge among associations restraints the market’s growth”
The lack of knowledge among associations about public key infrastructure (PKI) is a significant restraint on the growth of the PKI market. Many organizations are not fully aware of the benefits and applications of PKI or how it can address their cybersecurity needs. This lack of knowledge leads to hesitation in adopting PKI solutions and limits the market's growth potential. Increased efforts in educating and creating awareness among associations about the advantages and implementation of PKI can help overcome this barrier and drive the growth of the PKI market.
Segmentation: Global Public Key Infrastructure (PKI) Market
The public key infrastructure (PKI) market is segmented on the basis of component, deployment, organization size, and end user.
- On the basis of component, the public key infrastructure (PKI) market has been segmented into solutions and services.
- On the basis of deployment, the public key infrastructure (PKI) market has been segmented into cloud, and on premise.
- On the basis of organization size, the public key infrastructure (PKI) market has been segmented into small and medium enterprises and large enterprises.
- On the basis of end user, the public key infrastructure (PKI) market has been segmented into BFSI, telecom and IT, retail and e-commerce, healthcare and life sciences, manufacturing and automotive, education, government and defense, and others.
Regional Insights: North America dominates the global public key infrastructure (PKI) market
North America held the largest market share due to the widespread adoption of the secure sockets Layer (SSL) certificate, which utilizes public-key encryption solutions for encryption and authentication, is driven by the increasing necessity to maintain continuous data security compliance throughout enterprises. This growing need stems from the recognition that SSL certificates offer a robust means of securing sensitive data and ensuring authentication. The popularity of SSL certificates is a response to the imperative of safeguarding information in a manner that aligns with industry standards and regulations.
Asia-Pacific region, on the other hand, is expected to grow at the fastest CAGR during the forecast period, due to the increasing security demands within expansive web infrastructures and the ever-changing landscape of cyberattacks as organizations' network endpoints continue to grow.
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The Prominent Key Players Operating in the Global Public Key Infrastructure (PKI) Market Include:
- Thales Group (U.K.)
- Technology Nexus Secured Business Solutions A (U.S.)
- VeriSign, Inc. (U.S.)
- Entrust Datacard Corporation (U.S.)
- DigiCert, Inc. (U.S.)
- Futurex (U.S.)
- Comodo Security Solutions, Inc. (U.S.)
- GlobalSign (U.S.)
- WISeKey (U.S.)
- Expedient (U.S.)
- BIOS Middle East Group (U.S.)
- Veeam Software (U.S.)
- Internap Holding LLC (U.S.)
- Fine Telecommunications, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global public key infrastructure (PKI) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Public Key Infrastructure (PKI) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
