According to the report by Expert Market Research (EMR), the global public key infrastructure market is projected to grow at a CAGR of 14.7% between 2024 and 2032. Aided by the growing need for secure online communications and increasing dependence on digital identities, the market is expected to grow significantly by 2032.
Public Key Infrastructure (PKI) is a critical framework in cybersecurity, facilitating the secure exchange of digital data. PKI combines hardware, software, policies, standards, and procedures to create, manage, distribute, store, and revoke digital certificates. These certificates authenticate the identity of individuals, systems, and devices on networks. As cyber threats evolve, the significance of PKI in safeguarding online interactions, be it for personal, corporate, or governmental use, becomes ever more pronounced.
The ever-increasing cyberattacks and data breaches further boost the public key infrastructure market demand. With the rise in e-commerce, online banking, and digital government services, the demand for secure and authenticated communications is paramount. As consumers become more digitally aware, there’s a pronounced shift towards platforms and services that prioritise security, driving demand for robust PKI solutions.
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Additionally, the ongoing digitisation of industries and the surge in Internet of Things (IoT) devices have significantly influenced the public key infrastructure market outlook. In IoT ecosystems, devices communicate incessantly, necessitating a secure framework to validate their interactions. PKI, in this context, ensures that devices communicating are genuine and that their data exchanges are encrypted and free from tampering.
Beyond traditional sectors, the healthcare industry is also beginning to realise the value of PKI. With telemedicine and e-health records becoming commonplace, the need for secure patient data transmission and storage is critical. PKI assists in ensuring patient data’s confidentiality and integrity while also authenticating healthcare professionals accessing the data.
As per the public key infrastructure market analysis, the rise of smart cities and the integration of intelligent systems in urban planning accentuates the importance of PKI. From smart traffic management systems to secure communication between public utilities, PKI plays an instrumental role in ensuring these interconnected systems function seamlessly and securely.
In the wake of an increasingly digital global economy and the looming threats from sophisticated cyberattacks, the role of Public Key Infrastructure as a defender of digital identities, communications, and data cannot be overstated. Its applications span across industries, and as technology continues to permeate every facet of human life, the public key infrastructure market is poised to growth significantly.
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Public Key Infrastructure Market Segmentation
The market can be divided based on component, deployment mode, organisation size, application, and region.
Market Breakup by Component
- Solution
- Services
Market Breakup by Deployment Mode
- On-Premises
- Cloud
Market Breakup by Organisation Size
- Large Enterprises
- Small and Medium Sized Enterprises
Market Breakup by Application
- Banking, Financial Services, and Insurance
- Government and Defense
- Telecom and IT
- Healthcare and Life Sciences
- Retail and eCommerce
- Manufacturing and Automotive
- Education
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global public key infrastructure market. Some of the major players explored in the report by Expert Market Research are as follows:
- ComodoSSLstore (Rapid Web Services, LLC)
- Technology Nexus Secured Business Solutions AB
- Verisign Inc.
- Entrust Corporation
- DigiCert Inc.
- Futurex LP
- Thales SA
- GMO GlobalSign, Ltd.
- WISeKey, SA
- SSL, Inc.
- ACTALIS S.p.A.
- Others
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