Global Certificate Authority Market - 2022-2029

Global Certificate Authority Market - 2022-2029
Market Overview

The Certificate Authority Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 12.80% during the forecast period (2022-2029).

A certificate authority (CA) is a trusted organization that issues digital certificates for websites and other entities. CAs check a website's domain and, depending on the certificate type, its ownership and then issue TLS/SSL certificates that web browsers like Chrome, Safari and Firefox trust. As a result, CAs contribute to a safer internet by validating websites and other entities, allowing for greater trust in online interactions and transactions.

The party relying on the certificate and the certificate owner trust the certificate authority. A digital certificate protects the connection between the owner of a public key and the entity that holds it.

Before digitally signing the applicant's certificate and attesting to their identification, a trustworthy third-party certification authority authenticates their identity. Occasionally, governments and major corporations have their PKIs (public key infrastructure) and certificate authorities.

Digital certificates give encryption to the website, making it more secure. Digital certificates secure sensitive information such as usernames, credit cards, passwords and other private data exchanged over the internet.

Market Dynamics

Tremendously growing HTTPS phishing attacks across the globe have escalated the demand for the certificate authority market.

Tremendously growing HTTPS phishing attacks across the globe have escalated the demand for the certificate authority market.

The hypertext transfer protocol secure (HTTPS) is a very safe link to click because it uses encryption to increase security. As HTTPS establishes legitimacy, most legitimate organizations now use it instead of HTTP. On the other hand, Cybercriminals now include HTTPS URLs in their phishing emails. HTTPS phishing attacks have created huge chaos in the internet market. The pandemic and post-pandemic phishing attacks were growing tremendously and the condition worsened.

Cybercriminals are using the pandemic to launch HTTPS phishing attacks. They are taking advantage of people going through a difficult time by using social engineering to lure them into scamming websites that promise anything from treatments to fake news.

Over 136,000 hostnames and fully qualified domain names with COVID-19 or coronavirus themes were evaluated by SpyCloud. It discovered that HTTP was utilized by 78.4 percent of COVID-19-themed domains, while the rest used HTTPS. Compared to a break in COVID-19-themed threat activities in the spring and early summer of 2021, when virus concerns momentarily waned, pandemic-related phishing attempts spiked by 33% in June 2021. The peak in June coincided with the peak in Google searches for Delta variation.Furthermore, Google Chrome had roughly 46% of the overall internet browser market share in U.S. as of February 2021. According to Google, HTTPS accounts for over 90% of page loads in Chrome on most OS systems, compared to HTTP. Thus, growing HTTPS phishing attacks have generated immense demand for a certificate authority to detect and prevent HTTPS phishing attacks.

Lack of awareness and growing private certificate authorities hurdles the growth of certificate authority

Many companies create private certification authority or employ self-signed certificates to verify and secure internal servers, apps and IP addresses that do not require public trust but require the security provided by SSL encryption. Self-signed certificates provide the same encryption level as a certificate signed by a reputable organization.

Unlike a trusted certificate, the certificate cannot be revoked and thus can lead to an assault on visitors' connections. If a user accepts a self-signed certificate, an attacker could listen in on all traffic or set up a fake server to eavesdrop on the user's personal information.

Furthermore, Self-signed certificates are commonly used when clients only need to connect to the server over a local intranet; there is virtually little risk of a man-in-the-middle attack. During the creation and testing of applications, businesses also employ self-signed certification. Thus, growing private certificate authorities has hampered the global growth of certification authorities.

COVID-19 Impact Analysis

The COVID-19 pandemic has impacted all aspects of society, including individuals and corporations. The internet ecosystem has become increasingly important around the world. The reliance on online enterprises has expanded dramatically due to the COVID-19 outbreak. The internet is used by manufacturing, BFSI and life sciences, automotive, retail, transportation and logistics and other industries to provide critical consumer services.

Furthermore, various governments and regulatory agencies have forced both public and private organizations to accept new teleworking techniques and preserve social distance in the wake of the COVID-19 pandemic. Since then, digital business practices and emails on home servers have become various enterprises' new business continuity plans (BCP).

Individuals are increasingly attracted to employing managed PKI services as the use of mobile devices and internet penetration increases around the world. Organizations have become more prone to cyber-attacks and data breaches due to shifting trends and distributed IT infrastructures, fueling demand for certificate authority solutions and services post-pandemic.

Segment Analysis

The global certificate authority market is segmented on component, organization size, end-user and region.

BFSI is dealing with enormous amounts of sensitive and private financial data; hence it is the most targeted industry vertical

The global certificate authority market is segmented into BFSI, retail and e-Commerce, IT and telecom, travel and hospitality, government and defense, healthcare and life sciences, education and others based on end-user. The BFSI industry vertical is predicted to have the largest market share in the certificate authority market. Because BFSI deals with enormous amounts of sensitive and private financial data, it is the most targeted industry vertical.

Certificate authority solutions are in high demand among businesses in this market area. Furthermore, the BFSI industry vertical is the most regulated, as it must adhere to numerous security regulations. Because of the sensitive and confidential data they handle, BFSI sectors have stringent data security regulations.

Various government mandates, such as the Personal Information Protection and Electronic Documents Act (PIPEDA), the Gramm-Leach-Bliley Act (GLBA) and the Federal Financial Institutions Examination Council (FFIEC), as well as industry standards, such as PCI DSS and SOX, require financial institutions to protect themselves from advanced attacks like APTs, phishing and malware which is boosting the market share for certificate authority in BFSI industry.

Geographical Analysis

The considerable presence of major certificate authorities, as well as tight data security requirements and compliance, are the primary growth drivers for the North American industry

North America is predicted to have the largest market size in the certificate authority market by region during the forecast period. The considerable presence of major certificate authorities and tight data security requirements and compliance are the primary growth drivers for the North American industry.

North America is expected to lead the certificate authority market due to expanding online enterprises, digital transformation and IoT trends. Furthermore, the region's countries, especially U.S. and Canada, have all modified or introduced new national cybersecurity rules, which are expected to drive the certificate authority market.

Furthermore, growing Internet of Things (IoT) trends are likely to propel the certification authority market in the area to new heights. As per a study published by Stanford University in cooperation with Avast, 66 percent of North American homes have at least one IoT device, compared to 40 percent globally. More than two devices are present in 25% of North American households.

Furthermore, the rising frequency of data breaches and thefts in the healthcare and medical sectors is expected to enhance the region's certificate authority market growth. As per U.S. Department of Health and Human Services, the total number of data breaches in the health/medical sector in 2018 was 363. Furthermore, according to Fortified Health Security, healthcare providers made up 42 percent of all those harmed by data breaches in U.S., which has escalated the demand for the certificate authority market in the region.

Competitive Landscape

The global Certificate Authority market is highly competitive with local and global key players. Some key players contributing to the market's growth are IdenTrust, DigiCert, Sectigo, GlobalSign, Entrust, Certum, Actalis, E-Tugra, WISeKey, Trustwave, SwissSign, TWCA, Buypass, HARICA, Certigna, NETLOCK, TÜRKTRUST and others.

The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the certificate authority market.
• In November 2021, HashiCorp teamed with GlobalSign. DevOps users of HashiCorp Vault now access GlobalSign's Atlas Public Key Infrastructure (PKI) platform via the Atlas Vault plug-in as part of this agreement. Users of HashiCorp Vault would be able to request a range of certificates from the Atlas environment securely.
• In September 2021, Sectigo teamed up with Thomas Peer, an Australian and New Zealand (ANZ)-based IT services and management consulting organization. Sectigo's chosen ANZ partner is the Melbourne-based service. Sectigo Certificate Manager, Sectigo's digital identity and automated certificate lifecycle management solution, will be offered in Thomas Peer's range of solutions due to this new relationship.

DigiCert

Overview: DigiCert, Inc. is a U.S. technology company focused on digital security headquartered in Lehi, Utah, with offices in Ireland, Japan, Australia, India, South Africa, Switzerland and UK. DigiCert provides the public key infrastructure (PKI) and validation required for issuing digital certificates or TLS/SSL certificates as a certificate authority (CA) and responsible third party. The company’s certificates are used to validate and authenticate the identities of various companies and domains and secure users' privacy and data integrity when using web browsers, email clients, documents, software programs, apps, networks and linked IoT devices.

Product Portfolio: Secure Site Pro TLS/SSL Certificate: Certificates with no compromises that provide complete, professional-grade protection and strong tools and perks. The feature included under the certification are-
• Highest brand authentication and protection (EV only)
• Priority validation
• Priority support
• DigiCert Smart Site Seal
• US$2 million warranty
• Malware scan
• Blocklist check
• CT log monitoring
• Vulnerability assessment and others

Key Development
• In May 2021, The Telecom Infra Project (TIP) chose DigiCert to provide global PKI-based security services for TIP's OpenWiFi platform. TIP chose to work with DigiCert because of its commitment to providing the best PKI solution with high automation and scalability. Based on the DigiCert ONE platform, the DigiCert IoT Device Manager expands OpenWiFi's next-generation Wi-Fi accessibility by providing highly scalable and automated digital certificate administration.

Why Purchase the Report?
• Visualize the global certificate authority market segmentation by component, organization size, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the certificate authority market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global certificate authority market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global Certificate Authority market report would provide approximately 61 market data tables, 56 figures and 217 pages.

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