Overview and Scope
Certificate lifecycle management software refers to a comprehensive set of tools and processes designed to facilitate the automated issuance, renewal, monitoring, and management of digital certificates, ensuring their secure and compliant lifecycle across organizational infrastructures, devices, and applications. It centralizes certificate management tasks, reducing manual efforts, enhancing security, and ensuring uninterrupted operations.
Sizing and Forecast
The certificate lifecycle management software market size has grown rapidly in recent years. It will grow from $3.73 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to increasing complexity and risk in digital identities, secure communication, preventing certificate expirations, automating the certificate creation process, and on-premises solutions.
The certificate lifecycle management software market size is expected to see rapid growth in the next few years. It will grow to $8.78 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to increased adoption of IoT devices, rising sophistication of cyber threats, shift towards zero trust security models, focus on compliance and data privacy regulations, and growing demand for identity and access management (IAM) solutions. Major trends in the forecast period include increased adoption of cloud-based solutions, heightened focus on regulatory compliance, integration of AI and ML for threat detection, expanding IoT necessitating comprehensive management, surge in demand for hybrid deployment models, and emphasis on user-friendly interfaces for streamlined processes.
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Segmentation & Regional Insights
The certificate lifecycle management software market covered in this report is segmented –
1) By Certificate Type: Secure Sockets Layer (SSL) Or Transport Layer Security (TLS) Certificates, Code Signing Certificates, Email Certificates, Client Certificates
2) By Deployment Model: On-Premises, Cloud-Based
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
4) By Vertical Industry: Finance, Healthcare, Government, Information Technology (IT) and Telecom, Manufacturing
North America was the largest region in the certificate lifecycle management software market in 2023. The regions covered in the certificate lifecycle management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing adoption of cloud computing is expected to propel the growth of the certificate lifecycle management software market going forward. Cloud computing refers to services, applications, or resources that are delivered, accessed, and managed over the Internet, utilizing remote servers and computing infrastructure hosted by third-party providers. The growing utilization of cloud-based solutions is attributed to the services they provide, including scalability, accessibility, and security for businesses. Certificate lifecycle management software automates the deployment of digital certificates, ensuring efficient provisioning across various cloud environments as required. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of EU enterprises purchased cloud computing services, mostly to host their email systems and store electronic files. Purchases of cloud computing services by EU enterprises increased by 4.2% in 2023 compared to 2021. Therefore, the increasing adoption of cloud computing is driving the growth of the certificate lifecycle management software market.
Key Industry Players
Major companies operating in the certificate lifecycle management software market are Red Hat Inc., Micro Focus International plc, ManageEngine, Entrust Corporation, CyberArk Software Ltd., HashiCorp Inc., DigiCert Inc., Nexus AG, Trustwave Holdings Inc., GlobalSign Inc., AppViewX Inc., Venafi Inc., One Identity LLC, Censys Inc., Sectigo Limited, Futurex LP, Keyfactor LLC, PKWARE Inc., Ubisecure Oy, QuoVadis Limited, PrimeKey Solutions AB, Xolphin B.V., Versasec AB
The certificate lifecycle management software market report table of contents includes:
- Executive Summary
- Certificate Lifecycle Management Software Market Characteristics
- Certificate Lifecycle Management Software Market Trends And Strategies
- Certificate Lifecycle Management Software Market – Macro Economic Scenario
- Global Certificate Lifecycle Management Software Market Size and Growth
- Certificate Lifecycle Management Software Market Segmentation
- Certificate Lifecycle Management Software Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Certificate Lifecycle Management Software Market
- Certificate Lifecycle Management Software Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Certificate Lifecycle Management Software Market, Segmentation By Certificate Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Certificate Lifecycle Management Software Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Certificate Lifecycle Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Red Hat Inc. Financial Performance
Table 76: Micro Focus International plc Financial Performance
Table 77: ManageEngine Financial Performance
Table 78: Entrust Corporation Financial Performance
Table 79: CyberArk Software Ltd. Financial Performance
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