Public Key Infrastructure (PKI) Market

Public Kye Infrastructure Market Size and Share: Comprehensive Analysis and Insights

The global Public Key Infrastructure Market Size is expected to be worth USD 5.5 billion in 2023 and USD 13.8 billion by 2028, with a CAGR of 20.2% over the forecast period.

The rapidly evolving digital landscape, as well as the growing reliance on secure online transactions, are the primary drivers of the PKI market's robust growth. As organisations and individuals engage in a wide range of digital activities, from e-commerce and online banking to remote work and IoT deployments, the demand for strong encryption, secure authentication, and trusted digital identities has grown significantly. PKI technology is the foundation for establishing trust in digital interactions, protecting data integrity, and defending against cyber threats.

To know about the assumptions considered for the study download the pdf brochure

Public Key Infrastructure Market Growth is driven by several key factors as follows,

Increasing Cybersecurity Threats:

  • The rise in cyber-attacks, data breaches, and sophisticated hacking techniques has heightened the need for robust security measures. PKI provides essential tools for encryption, authentication, and digital signatures, which are critical for protecting sensitive information and ensuring secure communications.

Expansion of the Internet of Things (IoT):

  • The proliferation of IoT devices across various industries necessitates secure communication channels. PKI plays a crucial role in authenticating and securing data exchanges between IoT devices, ensuring that only authorized devices can communicate within the network.

Adoption of Cloud Computing:

  • As businesses migrate to cloud environments, the demand for secure cloud-based PKI solutions is increasing. Cloud PKI offers scalability, flexibility, and cost-effectiveness, enabling organizations to manage digital certificates efficiently without the need for extensive on-premises infrastructure.

Regulatory Compliance:

  • Stringent regulations and standards such as GDPR, HIPAA, and PCI DSS require organizations to implement robust security measures to protect data. PKI helps organizations comply with these regulations by providing secure authentication, data encryption, and digital signatures.

Growth of E-commerce and Online Transactions:

  • The surge in e-commerce and digital transactions requires secure online environments to protect customer data and transaction integrity. PKI ensures secure communications and transactions by encrypting data and verifying the identities of transacting parties.

Increasing Adoption of Digital Identity Solutions:

  • The need for secure digital identity management is driving the adoption of PKI. Digital identities are essential for accessing online services, conducting secure transactions, and verifying user identities. PKI provides a framework for creating, managing, and verifying digital identities.

Implementation of Zero Trust Security Models:

  • The Zero Trust security model, which emphasizes the principle of "never trust, always verify," relies heavily on PKI for strong authentication and encryption. Organizations are adopting Zero Trust models to enhance security, and PKI provides the necessary infrastructure to support this approach.

Advancements in Automation and AI:

  • Automation and artificial intelligence (AI) are being integrated into PKI solutions to enhance efficiency and security. Automated certificate lifecycle management reduces the risk of human error, ensures timely renewals, and improves overall security posture. AI and machine learning can detect anomalies and predict potential security threats, enhancing the effectiveness of PKI.

Digital Transformation Initiatives:

  • Organizations are undergoing digital transformation to improve operational efficiency and customer experience. PKI is a foundational technology for digital transformation, enabling secure digital interactions, protecting data integrity, and ensuring compliance with security standards.

Increase in Remote Work and BYOD Policies:

  • The rise of remote work and Bring Your Own Device (BYOD) policies has expanded the attack surface for cyber threats. PKI solutions provide secure access to corporate resources, ensuring that remote employees and personal devices can securely connect to the organization’s network.

Public Key Infrastructure Market Share - Global Industry Landscape:

  • Venafi (US)
  • Nexus (Sweden)
  • Sectigo (US)
  • Futurex (US)
  • GlobalSign (US)
  • WISeKey (Switzerland)

These companies are key players in the PKI market, offering a variety of solutions to manage digital certificates and ensure secure communications across different sectors. Their market share reflects their influence and capabilities in providing robust security solutions for digital identities and transactions.

Venafi (US):

  • Market Share: Venafi is a leading player in the machine identity protection market and holds a significant share in the PKI space, particularly in securing machine identities.
  • Key Offering: Venafi Trust Protection Platform
    • Description: This platform provides comprehensive machine identity management, including the discovery, issuance, and renewal of digital certificates. It emphasizes securing machine-to-machine communication and ensuring trust in digital transactions.

Nexus (Sweden):

  • Market Share: Nexus, known for its strong presence in Europe, holds a considerable market share in the PKI and identity management sectors.
  • Key Offering: Nexus Smart ID
    • Description: Nexus Smart ID offers solutions for secure digital identities, enabling secure access, authentication, and digital signatures for employees, customers, and IoT devices. It focuses on providing a unified platform for identity and certificate management.

Sectigo (US):

  • Market Share: Sectigo is one of the largest commercial Certificate Authorities (CAs) globally, holding a significant market share in the SSL/TLS certificate space.
  • Key Offering: Sectigo Certificate Manager
    • Description: Sectigo Certificate Manager provides automated certificate lifecycle management for SSL/TLS, S/MIME, and other digital certificates. It aims to simplify the management of public and private certificates across diverse environments.

Futurex (US):

  • Market Share: Futurex has a notable presence in the enterprise encryption and key management markets, providing robust PKI solutions.
  • Key Offering: Futurex Hardware Security Modules (HSMs)
    • Description: Futurex offers HSMs that provide secure key generation, storage, and management. Their solutions are designed for high-security environments, supporting a wide range of cryptographic operations and ensuring compliance with stringent security standards.

GlobalSign (US):

  • Market Share: GlobalSign is a well-established global Certificate Authority (CA) with a substantial market share in the digital certificate market.
  • Key Offering: GlobalSign Digital Certificate Services
    • Description: GlobalSign provides a comprehensive suite of digital certificate services, including SSL/TLS, client, code signing, and email certificates. Their platform focuses on secure digital identities and encryption for enterprises and IoT environments.

WISeKey (Switzerland):

  • Market Share: WISeKey has a strong position in the digital security market, particularly in IoT and blockchain-based solutions.
  • Key Offering: WISeKey PKI Solutions
    • Description: WISeKey offers a range of PKI solutions designed to secure IoT devices, digital identities, and communications. Their platform integrates blockchain technology to enhance the security and integrity of digital certificates and transactions.

 

Related Reports:

Public Key Infrastructure (PKI) Market by Component (HSM, Solutions, and Services), Deployment Mode (On-premises and Cloud), Organization Size, Vertical (BFSI, Healthcare, IT and Telecom), Application Region - Global Forecast to 2028

Public Key Infrastructure (PKI) Market Size,  Share & Growth Report
Report Code
TC 7168
RI Published ON
2/1/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status