Global Public Key Infrastructure (PKI) Market - 2022-2029

Global Public Key Infrastructure (PKI) Market - 2022-2029

Market Overview

The global public key infrastructure (PKI) market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

The term public key infrastructure (PKI) refers to the tools used to generate and manage public keys for encryption, a prevalent technique for safeguarding data transfers over the internet. PKI is incorporated into all modern web browsers and aids in the security of public internet traffic. Organizations can use it to safeguard internal communications and ensure that linked devices can connect securely. The cryptographic keys are part of the encryption process and authenticate different persons or devices seeking to communicate with the network.

PKI is critical because of the encryption and authentication it controls and ensures reliable, secure internet communication. For an organization, PKI can mean the difference between an attacker getting access to the network via a connected device and keeping a potentially dangerous threat at bay. PKI operates by utilizing two technologies: certificates and keys. A key is a lengthy number that is used to encrypt data. The public key is open access and is used to encrypt messages. After receiving the communication, a private key is employed to decrypt it. A sophisticated mathematical equation is used to connect the keys.

Market Dynamics

Increasing adoption of advanced technologies in business places. Nevertheless, A lack of expertise and resources hampers the PKI market's evolution.

Increasing adoption of advanced technologies in business places

Global organizations are paying increasing attention to the impact of new applications on PKI, such as IoT. The Internet of Things has benefited almost every industrial sector. Businesses are more concerned with releasing new products on schedule than correctly executing security measures. It elevates cyber dangers to IoT device security in general. There are more breaches than ever before, and attackers use sophisticated techniques to carry them out. Because IoT devices are network-connected, they are frequently utilized in Distributed Denial of Service attacks and provide additional vulnerabilities due to weak password-only limitations. PKI has shown to be a very secure and versatile solution for protecting and controlling the connected devices' life cycle. Therefore, the growing adoption of advanced network technologies boosts the global public key infrastructure (PKI) market and acts as a major market driver.

Lack of expertise and resources

PKI necessitates specialist expertise in both deployment and operation. Due to the complexities of PKI, individuals with extensive knowledge and expertise are required to install and execute PKI correctly. The number of specialists specializing in PKI is dwindling. It is not always regarded as a critical business process.

COVID-19 Impact Analysis

Cloud computing has emerged as a crucial ally for remote work and collaboration development businesses. Businesses are increasingly storing sensitive information in the cloud. However, the growing use of the cloud presents security risks. With the growing need for cloud computing, there is a potential for cloud security services and solutions to emerge.

The increased usage of cell phones and global internet penetration causes people to use PKI. These shifting patterns and scattered IT architectures have made firms more vulnerable to cyber-attacks and data breaches, increasing the demand for PKI solutions. The danger of data breaches in security and access patterns and processes required to regulate cloud environments while working from home has increased with the advent of new gadgets. The demand for security technologies has increased significantly as remote workers have increased. Different governments and regulatory bodies have ordered public and private organizations to adopt new teleworking and social distance practices. As a result, the public key infrastructure (PKI) market will rise dramatically even after the pandemic.

Segment Analysis

The global public key infrastructure (PKI) market is classified based on components, services, deployment mode, organization size, end-user, and region.

Large-scale digitalization of the BFSI sector as an aftereffect of the COVID-19 pandemic

During the COVID-19 outbreak, banks and financial organizations migrated more of their data and services to an online environment. With the fast-paced adoption of cloud computing and integration of AI, finance and insurance firms must adhere to the highest security standards mandated by financial regulatory agencies. As a result, financial institutions are expanding their collaborations with public key infrastructure (PKI) service providers to establish a comprehensive security environment that meets global and regional regulatory requirements, enabling the BFSI sector to expand extensively and dominate the vertical segment of the global public key infrastructure (PKI) market.

Geographical Analysis

High technological advancements and their large-scale implementation achieved by North America

North America dominates the regional segment of PKImarket due to the early adoption of PKI and the availability of multiple suppliers offering PKI solutions. Businesses in this region are progressively employing PKI solutions to enable data security, prevent cyber-attacks and commercial espionage, and provide data security and privacy for business continuity.

Competitive Landscape

In terms of the number and scope of global and local producers, the public key infrastructure (PKI) market is quite active. The industry has been described as fragmented due to multiple manufacturers such as AWS, Nexus, Microsoft, Google, DigiCert, Cygnacom Solutions, SecureMetric, Futurex, GlobalSign, and WISeKey. Mergers, acquisitions, product launches, investments, and partnerships are common market strategies employed by major market players to obtain a competitive advantage and boost their reputation.

DigiCert

Overview: DigiCert provides TLS/SSL, IoT, and PKI identity and encryption solutions. DigiCert is chosen by the most creative firms, including 89 percent of the Fortune 500 and 97 percent of the top 100 worldwide banks, for its expertise in identity and encryption for web servers and Internet of Things devices. DigiCert's certificate lifecycle management system, CertCentral, provides TLS and other digital certificates for PKI implementations of any size. DigiCert was established in 2003 and is known for its enterprise-grade certificate management platform, responsive and knowledgable customer service, and market-leading security solutions. The firm employs around 5000 employees.

Product Portfolio:

DigiCert ONE: DigiCert ONE reimagines PKI with cloud-native design and container-based technology as the PKI infrastructure solution for today's security concerns. DigiCert ONE provides various administration options intended for all PKI use cases. Because of its adaptability may be implemented on-premises, in-country, or in the cloud to meet strict criteria, custom integrations, and airgap requirements. Thanks to a solid and highly scalable infrastructure, it also promptly deploys extraordinarily large numbers of certificates. DigiCert ONE provides centralized user and device certificate management from start to finish, ensuring trust across dynamic IT architectures.

Key Development:

On May 12, 2021, DigiCert announced that it had been chosen by the Telecom Infra Project (TIP) to provide global PKI-based security services for the company’s OpenWiFi. The DigiCert IoT Device Manager will provide highly scalable, completely automated digital certificate administration to help OpenWiFi achieve next-generation Wi-Fi accessibility.

Why Purchase the Report?

To visualize the global public key infrastructure (PKI) market segmentation based on component, services, deployment mode, organization size, end-user, and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global public key infrastructure (PKI) market by analyzing trends and co-development.

Excel data sheet with numerous data points of public key infrastructure (PKI) market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global public key infrastructure (PKI) market report would provide approximately 77 tables, 77 figures and almost 195 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies