Public Key Infrastructure (PKI)

Public Key Infrastructure (PKI)

Global Public Key Infrastructure (PKI) Market to Reach US$15.0 Billion by 2030

The global market for Public Key Infrastructure (PKI) estimated at US$5.3 Billion in the year 2023, is expected to reach US$15.0 Billion by 2030, growing at a CAGR of 15.9% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 14.7% CAGR and reach US$8.4 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 17.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.5 Billion While China is Forecast to Grow at 22.6% CAGR

The Public Key Infrastructure (PKI) market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 22.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 12.2% and 13.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.7% CAGR.

Global Public Key Infrastructure (PKI) Market - Key Trends & Drivers Summarized

Why Is Public Key Infrastructure (PKI) Essential in Digital Security?

Public Key Infrastructure (PKI) is a critical component of digital security, enabling secure communication and authentication in an increasingly connected world. PKI provides the framework for the creation, management, and distribution of digital certificates, which are used to verify the identities of individuals, devices, and services. The growing reliance on digital transactions, online services, and remote communication has made PKI essential for ensuring the confidentiality, integrity, and authenticity of data exchanged over the internet. As cyber threats continue to evolve in sophistication, the need for robust encryption and authentication mechanisms has driven the widespread adoption of PKI across various sectors, including finance, healthcare, and government. Moreover, the increasing adoption of Internet of Things (IoT) devices and the expansion of cloud services have further underscored the importance of PKI in securing digital ecosystems and preventing unauthorized access.

How Is Technology Shaping the Future of PKI?

Technological advancements are playing a pivotal role in the evolution of Public Key Infrastructure, making it more adaptable and resilient in the face of emerging security challenges. The integration of quantum-resistant algorithms is becoming a key focus in the development of PKI solutions, as the potential threat of quantum computing to existing cryptographic systems looms on the horizon. Additionally, the automation of certificate management processes is enhancing the efficiency and reliability of PKI, reducing the risk of human error and minimizing the chances of certificate-related outages. The use of blockchain technology in PKI is also gaining traction, offering a decentralized and tamper-proof method for managing digital certificates and public keys. Furthermore, the rise of cloud-based PKI services is providing organizations with scalable and flexible solutions that can be easily integrated into their existing IT infrastructure. These technological innovations are ensuring that PKI remains a robust and essential component of digital security in an increasingly complex and interconnected world.

What Are the Key Drivers Behind the Adoption of PKI Across Industries?

The adoption of Public Key Infrastructure is being driven by the growing need for secure and reliable authentication and encryption mechanisms across various industries. In the financial sector, where the protection of sensitive data and secure transactions are paramount, PKI is widely used to ensure the integrity and confidentiality of communications. The healthcare industry is also increasingly relying on PKI to protect patient information and ensure compliance with data protection regulations such as HIPAA. The expansion of cloud computing and the proliferation of IoT devices are further driving the adoption of PKI, as these technologies require robust security frameworks to prevent unauthorized access and data breaches. Additionally, government agencies and defense organizations are adopting PKI to secure communications and protect sensitive information from cyber threats. The growing emphasis on compliance with data protection regulations, such as GDPR and CCPA, is another significant factor driving the adoption of PKI, as organizations seek to meet legal requirements and protect their digital assets.

What Factors Are Fueling the Growth of the PKI Market?

The growth in the Public Key Infrastructure (PKI) market is driven by several factors that are shaping the digital security landscape. One of the primary drivers is the increasing need for secure communication and authentication in an era of digital transformation, where the volume of online transactions and remote communications is rapidly growing. The integration of advanced technologies, such as quantum-resistant cryptography and blockchain, is enhancing the capabilities of PKI solutions, making them more resilient to emerging security threats. The rise of cloud computing and IoT is also contributing to the growth of the PKI market, as these technologies require robust security frameworks to protect against unauthorized access and data breaches. Additionally, the growing emphasis on compliance with data protection regulations is fueling the demand for PKI solutions that provide the necessary tools for secure authentication and encryption. The need to protect critical infrastructure and sensitive information from cyber threats is further driving the adoption of PKI, as organizations seek to strengthen their digital security posture and ensure the integrity of their communications and transactions.

Select Competitors (Total 49 Featured) -

• Actalis S.p.A.
• Cisco Systems, Inc.
• DigiCert, Inc.
• Entrust Corporation
• Fortinet, Inc.
• HYPR Corp.
• IBM Corporation
• Juniper Networks, Inc.
• Microsoft Corporation
• Nexus Group
• Okta, Inc.
• SSH Communications Security, Inc.
• Thales Group
• Utimaco GmbH
• Venafi, Inc. ;

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