USD 3.90 billion
Report ID:
SQMIG45B2048 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
59
|Figures:
75
Global Public Key Infrastructure (PKI) Market size was valued at USD 3.90 billion in 2022 and is poised to grow from USD 4.70 billion in 2023 to USD 20.89 billion by 2031, growing at a CAGR of 20.50% during the forecast period (2024-2031).
The global Public Key Infrastructure (PKI) market is witnessing significant growth and is expected to continue expanding in the coming years. One of the key drivers of the PKI market is the increasing need for data security and privacy in the digital era. With the proliferation of digital transactions, online communication, and cloud-based services, organizations across sectors are adopting PKI solutions to protect sensitive information from unauthorized access and tampering. Furthermore, stringent regulatory requirements and compliance standards imposed by governments and industry bodies are also fueling the demand for PKI. Organizations need to demonstrate compliance with regulations such as the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS), which necessitate the use of PKI for secure data handling. The growing adoption of Internet of Things (IoT) devices and the need for secure device authentication and communication is another factor driving the PKI market. PKI infrastructure provides a secure foundation for IoT ecosystems by enabling secure device enrollment, authentication, and data encryption. Key players in the global market are offering advanced solutions with features like scalable certificate management, automated key lifecycle management, and integration with cloud services. Additionally, emerging technologies such as blockchain-based PKI solutions are also gaining traction.
The global PKI market plays crucial role for secure digital communications and transactions, between parties, through information exchange in encrypted form on networks. PKI is a way of managing digital certificates, authentication, and encryption keys, which achieves the secure file integrity, privacy, and authentication in remarkably different applications of e-business, online banking, healthcare, and government services. One of the main tasks of the market is the creation of a reliable and protected atmosphere for online actions with the protection of sensitive information from being stolen and tempered.
The main driver for the growth of the PKI market is the adoption of digital transformation initiatives in different industries, which in turn are motivating widespread implementation of cybersecurity measures in the face of evolving threats. Moreover, regulatory compliance which needs PKI for ensuring data security and privacy also propel market development. Yet, the PKI market is still fraught with the suppressing problems and difficulties. However the most serious problems are the difficulties that come with setting up and administering PKI infrastructure, such as management and renewal of certificates, distribution of keys, interoperability issues in multi-vendor environments, etc. In addition to this, scalability and performance issues in PKI solutions have posed a problem to organizations running their transactions in dynamical and extensive environments.
Despite these challenges, the market for PKI holds the potential for the creation and expansion of many innovative products. The advent of technologies like blockchain and quantum cryptography opens intriguing opportunities for improving the security and resilience of PKI infrastructure to the advanced cyberattacks that it is being constantly assailed with. As well, the implementation of cloud based PKI solutions and managed security services offers opportunities to organisations to outsource PKI management and reduce operations while strengthening security position.
Global Market Size
USD 3.90 billion
Largest Segment
On-premises
Fastest Growth
On-premises
Growth Rate
20.50% CAGR
To get more reports on the above market click here to Buy The Report
Global Public Key Infrastructure (PKI) Market is segmented by Offering, Service, Deployment Mode, Organization Size, Application, Vertical, and region. Based on Offering, the market can be segmented into Hardware Security Modules (HSM), Solutions, and Services. Based on Service, the market is segmented into Professional Services, and Managed Services. Based on Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on Application, the market is segmented into Web browsing security, Email security, Secure communication, and Authentication. Based on Vertical, the market is segmented into BFSI, Government and Defense, IT and Telecom, Retail, Healthcare, Manufacturing, and other verticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Public Key Infrastructure (PKI) Market Analysis by Deployment
By Deployment, the market can be segmented on-premises and cloud-based. On-premises deployment refers to the installation and management of PKI solutions within the organization's own infrastructure. This segment has traditionally been dominant due to the need for organizations to have complete control over their security infrastructure.
Cloud-based deployment involves hosting and delivering PKI solutions from the cloud infrastructure. Cloud-based segment is experiencing rapid growth due to scalability and flexibility, allowing organizations to easily expand their infrastructure as needed, without the need for additional hardware investments or maintenance. This is particularly beneficial for small and medium-sized enterprises (SMEs) and organizations with fluctuating demands.
Public Key Infrastructure (PKI) Market Analysis by Application
By application, the market can be segmented secure communications, and identity and access management. Identity and Access Management (IAM) segment holds a dominant position in the market. IAM refers to the processes and technologies used to manage digital identities, user access, and authentication within an organization.
The Secure Communications application segment is experiencing rapid growth in the PKI market. This application focuses on securing various communication channels, including email, virtual private networks (VPNs), instant messaging, and more.
To get detailed analysis on other segments, Request For Free Sample Report
North America dominated the global PKI market, primarily driven by the presence of technologically advanced countries such as the United States and Canada. These countries have well-established digital infrastructure and a high degree of adoption of PKI solutions across various sectors, including finance, healthcare, government, and defense. The region is home to several major PKI solution providers and has a mature market ecosystem.
The APAC region is experiencing significant growth in the PKI market, driven by factors such as rapid digitalization, increasing internet penetration, and the expanding e-commerce sector. Countries such as China, Japan, India, and South Korea are witnessing substantial demand for PKI solutions.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Public Key Infrastructure (PKI) Market Drivers
Increasing need for data security and privacy in the digital era
Public Key Infrastructure (PKI) Market Restraints
Complexity and implementation challenges
Request Free Customization of this report to help us to meet your business objectives.
The Public Key Infrastructure (PKI) market is characterized by the presence of several key players vying for market share. Established companies such as Entrust Datacard, DigiCert, and Gemalto (Thales Group) dominate the market with their comprehensive PKI solutions and strong customer base. Additionally, there are emerging players like GlobalSign, Nexus Group, and Securemetric offering innovative PKI solutions. These companies focus on strategic partnerships, product enhancements, and mergers/acquisitions to gain a competitive edge and expand their market presence in the highly competitive PKI industry.
Public Key Infrastructure (PKI) Market Top Player’s Company Profiles
Public Key Infrastructure (PKI) Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Public Key Infrastructure (PKI) market analysis, the market is experiencing significant growth globally, driven by the increasing need for data security and privacy in the digital era. Organizations across sectors are adopting PKI solutions to protect sensitive information, ensuring secure communication and data integrity. North America has been a dominant region in the global market, with the United States playing a key role due to its robust cybersecurity landscape. However, the Asia-Pacific (APAC) region is witnessing rapid growth, fueled by digitalization and government initiatives. Cloud-based PKI solutions are emerging as a key trend, offering scalability, cost-efficiency, and simplified certificate management. While there are implementation challenges, the competitive landscape is populated by established players like Entrust Datacard, DigiCert, and Gemalto, as well as emerging companies such as GlobalSign and Nexus Group.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.90 billion |
Market size value in 2031 | USD 20.89 billion |
Growth Rate | 20.50% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Public Key Infrastructure (PKI) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Public Key Infrastructure (PKI) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Public Key Infrastructure (PKI) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Public Key Infrastructure (PKI) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45B2048