Digital Certificates and Public Key Infrastructure

Digital Certificates and Public Key Infrastructure

Global Digital Certificates and Public Key Infrastructure Market to Reach US$22.7 Billion by 2030

The global market for Digital Certificates and Public Key Infrastructure estimated at US$6.2 Billion in the year 2023, is expected to reach US$22.7 Billion by 2030, growing at a CAGR of 20.5% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 20.6% CAGR and reach US$11.0 Billion by the end of the analysis period. Growth in the Hardware Security Modules Component segment is estimated at 19.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 19.2% CAGR

The Digital Certificates and Public Key Infrastructure market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 19.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 18.5% and 17.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.7% CAGR.

Global Digital Certificates and Public Key Infrastructure Market - Key Trends & Drivers Summarized

Why Are Digital Certificates and Public Key Infrastructure (PKI) Gaining Traction?

In an era of digital transformation, the global market for digital certificates and Public Key Infrastructure (PKI) has expanded rapidly, driven by the increasing need for secure communications and transactions across the internet. Digital certificates, essential for authenticating the identities of individuals, devices, or applications online, provide a foundation for encrypted and secure digital interactions. The widespread adoption of e-commerce, online banking, and cloud services necessitates these certificates, as they ensure the integrity and confidentiality of sensitive information. Moreover, governments and regulatory bodies worldwide are enforcing stricter cybersecurity standards, mandating the use of PKI for compliance in sectors like finance, healthcare, and government. This regulatory push, coupled with the escalating threats of cyberattacks, has heightened the importance of digital certificates, making them indispensable for businesses and institutions looking to safeguard their operations and data integrity.

How Is Technology Influencing the Digital Certificates and PKI Market?

The technological evolution in cryptography and the increasing use of blockchain technology are pivotal in shaping the digital certificates and PKI market. Cryptographic algorithms have become more advanced, ensuring robust security measures that make it difficult for malicious actors to intercept or manipulate data. Blockchain technology has further amplified the trust and transparency in digital transactions, as its decentralized nature aligns with the security requirements of PKI systems. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) capabilities into cybersecurity frameworks allows for real-time monitoring and predictive analysis, improving the efficacy of PKI solutions. Cloud-based PKI solutions are also gaining prominence, offering businesses scalable, flexible, and cost-efficient alternatives to on-premises systems. These technological trends are transforming the landscape, enabling companies to deploy advanced PKI solutions that adapt to the evolving digital ecosystem.

Where Are Digital Certificates and PKI Systems Being Utilized Most Effectively?

The applications for digital certificates and PKI extend across a multitude of industries, with each sector leveraging these technologies for different purposes. In the financial sector, PKI is crucial for securing online banking transactions, managing identity verification processes, and ensuring compliance with regulatory frameworks like GDPR and PCI-DSS. The healthcare industry utilizes PKI to secure electronic health records (EHRs), ensuring patient data remains confidential and protected against unauthorized access. In e-commerce, digital certificates are essential for building trust with consumers by securing online payments and encrypting sensitive customer information. Additionally, government agencies worldwide are increasingly adopting PKI solutions to authenticate digital signatures and safeguard sensitive communications. The growing emphasis on digital identities and secure authentication across these sectors demonstrates the market`s versatility and its essential role in maintaining the integrity of digital infrastructures.

What Factors Are Driving the Growth of the Digital Certificates and PKI Market?

The growth in the digital certificates and PKI market is driven by several factors, including the rising incidence of cyber threats, regulatory compliance requirements, and the surge in digital and cloud-based transactions. The increasing sophistication of cyberattacks, such as phishing and ransomware, has made the implementation of robust PKI systems a necessity for businesses to protect sensitive information and maintain consumer trust. Furthermore, the shift toward digital identities and e-signatures in both private and government sectors has boosted the demand for digital certificates, as these tools are vital for authenticating identities and securing digital communications. The expanding adoption of cloud services also drives market growth, as organizations seek scalable, efficient, and secure solutions for managing digital identities and communications in cloud environments. Additionally, the increasing trend of IoT devices and their associated vulnerabilities necessitates the use of PKI to manage device authentication and secure connections, further propelling market expansion.

Select Competitors (Total 19 Featured) -

• Ascertia Limited
• Comodo Group, Inc.
• DocuSign, Inc.
• Entrust Datacard Corporation
• Gemalto NV
• GMO GlobalSign Inc.
• GoDaddy Operating Company, LLC.
• IdenTrust, Inc.
• Kofax, Inc.
• Secured Signing Ltd
• Signix, Inc.
• Verisign, Inc.

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