What Does the Public Key Infrastructure Market Analysis Reveal About Its Size and Growth Rate?
The public key infrastructure market size has grown exponentially in recent years. It is projected to swell from $4.6 billion in 2024 to $5.54 billion in 2025 showing a compound annual growth rate (CAGR) of 20.7%. The explosive growth during this historic period can be attributed to prevalent security concerns, stringent regulatory compliance, massive digital transformation initiatives, the boom of the e-commerce sector, and intensifying interconnectedness.
Furthermore, the public key infrastructure market size is expected to surge astronomically in the coming years, reaching a staggering $11.74 billion by 2029 with a CAGR of 20.6%. This prospective growth can be traced back to the proliferation of IoT, incorporation of blockchain, the advent of quantum-safe cryptography, rapid digitalization, and an increasing focus on user privacy. Notable trends during this forecast period will encompass blockchain integration for certificate transparency, a shift towards managed PKI services, the implementation of zero trust security frameworks, enhanced certificate lifecycle management, and stringent regulatory compliance requirements.
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Which Factors Are Primarily Driving the Public Key Infrastructure Market?
The surge in cyber fraud incidents significantly fuels the growth for the public key infrastructure market. Cyber frauds, characterized by deliberate tampering with another person’s online-stored personal and financial information, are met by the multi-faceted public key infrastructure functioning as a cybersecurity technological framework. This framework integrates an HSM (hardware security module) for key protection and storage, a Root CA or Certification Authority for issuing digital certificates and public key cryptographic keys for data encryption, securing the data from potential threats of cyber fraud.
Which Are the Impactful Segments Within the Public Key Infrastructure Market?
– By Component: Hardware Module, Solution, Services
– By Deployment Mode: Cloud, On-Premise
– By Organization Size: Large Enterprises, Small And Medium Enterprise (SME)
– By Vertical: BFSI, Government And Defense, IT And Telecom, Retail, Healthcare, Manufacturing, Other Verticals
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Who Are the Dominant Players in the Public Key Infrastructure Market Landscape?
Key organizations in the public key infrastructure market encompass the likes of DigiCert Inc., GlobalSign, Entrust, Thales Group, Sectigo, Identrust, Keyfactor, Amazon Web Services Inc. Microsoft Corporation, Venafi, Comodo, Broadcom Inc, International Business Machines Corporation, RSA Security, GoDaddy, Let’s Encrypt, Trustwave, Infocert, QuoVadis, Certum, Actalis, SafeNet, DigiCert TLS, Certigo, SecureTrust, E-CP, Buypass, Trustico, Gandi, NetLock.
What Are the Key Trends Reflecting the Current Situation of the Public Key Infrastructure Market?
Technological enhancement remains a key trajectory gaining traction in the public key infrastructure market. For example, in September 2024, the Ethiopian government rolled out a Public Key Infrastructure (PKI) facility aimed at streamlining the data exchange facet of the country’s digital public infrastructure (DPI). The PKI allows reliable and secure digital data exchange utilizing encryption techniques that safeguard information during the transmission process.
Which Region Is Surging Ahead in the Public Key Infrastructure Market?
North America enjoyed the biggest slice of the public key infrastructure market share as of the close of 2024. However, the public key infrastructure market report also covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Public Key Infrastructure Market Report 2025 Offer?
Public key infrastructure is a comprehensive system embracing the requisite hardware, software, personnel, policies, and guidelines to issue, manage, distribute, use, store, and revoke digital certificates. Leveraging the public key infrastructure for digital signature protocols and/or data encryption techniques assists in establishing the identity of individuals, objects, and services. It facilitates controlled access to systems and resources, data security, and transaction accountability. The Public Key Infrastructure Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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