Home » Computer & Software » Public Key Infrastructure Market Key Players, Competitive Landscape, Future Plans and Regional Trends by Forecast 2027

Public Key Infrastructure Market Key Players, Competitive Landscape, Future Plans and Regional Trends by Forecast 2027




Overview

The global public key infrastructure (PKI) market is expected to exhibit a strong 21.12% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). According to the report, the global public key infrastructure market was valued at USD 639.12 million in 2017 and is expected to exhibit notable growth over the forecast period. The report presents a comprehensive overview of the major factors affecting the global public key infrastructure market. The major drivers and restraints affecting the global public key infrastructure market are profiled in the report. Leading players operating in the global public key infrastructure market are also profiled in the report. The impact of the COVID-19 pandemic on the global public key infrastructure market is also studied in the report.

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Public key infrastructure is a vital necessity in enabling secure online transactions. The growing demand for online and mobile banking is likely to be a major driver for the global public key infrastructure market over the forecast period. Due to the convenience of online and mobile banking, many BFSI customers now prefer it to brick-and-mortar banking. However, this has created a need for secure network architecture, as loss of information on banking websites can have disastrous consequences for the customer. The banking entity can also suffer a significant loss of face due to online data breaches, as its reliability and trustworthiness may take a considerable hit due to the instances of data breach. This has led to a growing demand for strong public key infrastructure. Public key infrastructure is mainly used in use cases where passwords are not considered sufficiently secure. This is likely to remain a major driver for the global public key infrastructure market over the forecast period.

The rising demand for private and secure email technology is also likely to be a major driver for the global public key infrastructure market over the forecast period. Confidentiality is vital in emails, as the emails can contain private information that can hurt the sender or receiver if made public. This has led to a growing demand for strong encryption technology to secure email channels. This is likely to remain a major driver for the Public Key Infrastructure Market over the forecast period.

Competitive Leaderboard:

Leading players in the global public key infrastructure market include SIGNiX, Entrust Datacard Corporation, Lexmark International Inc., VeriSign Inc., Gemalto NV, GlobalSign, Assa Abloy Group, Ascertia, GoDaddy Inc., DocuSign Inc., and Comodo Group Inc.

In August 2020, Google announced a new cloud-based certificate authority service that is claimed to make it easier for companies to set up the digital certificated needed for public key infrastructure. The service is currently in beta testing and available for free. The service uses AppViewX?s certificate lifecycle management and automation product, CERT+.

Competitive Landscape

GoDaddy Inc., VeriSign Inc., Entrust Datacard Corporation, Assa Abloy Group, and Gemalto NV are key players of the Public Key Infrastructure Market Trends.

Segmentation

The global public key infrastructure market is segmented on the basis of solution, deployment, and end-users.

Solutions commonly employed in the public key infrastructure market include self-registration, enrolment deployment, secure roaming, PIN authentication, inventory of digital identities, and others.

Public key infrastructure is deployed on cloud-based and on-premise. The adoption rate of cloud-based deployments has been observed to be higher than on-premise due to the scalability that this platform offers as well as cost savings. The cloud-based platform is expected to retain its lead in the market while displaying the highest CAGR of 21.91% during the forecast period.

End-users of public key infrastructure include BFSI, healthcare & life sciences, retail, aerospace & defense, human resources, education & research, manufacturing, government, and others. The government segment followed by the aerospace & defense account for the most significant segments in the market due to the high requirement for security to protect sensitive government information. However, the BFSI sector is expected to grow at the highest CAGR of 23.84%, as this sector handles high volumes of sensitive data. The security concerns for transactions conducted with banks by consumers, processing of large volumes of data, and demand for fortified security can drive the demand of public key infrastructure in the sector.

Regional Analysis:

North America currently dominates the global public key infrastructure market and is likely to retain the leading position over the forecast period, due to the growing demand for strong encryption in the region. The increasing importance of email privacy and the increasing wariness exhibited by consumers towards government surveillance in the region are major drivers for the public key infrastructure market in the region.

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About Market Research Future:

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Posted by on 14. May 2021. Filed under Computer & Software. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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