Public Key Infrastructure Market Opportunities, Market Challenges & Global Industry Analysis by 2023

Market Outlook

Adoption of cloud and expansion of the IT sector has induced the need for secure technologies for secure transfer of electronic data. Looming threats of cyberattacks offer growth opportunities to the public key infrastructure market. Emergence of 5G networks which can support the internet of things (IoT) ecosystem while processing large data volumes can augment the market size till 2023. The market valuation can touch USD 1,987.1 million by 2023, as per MRFR’s report.

The global public key infrastructure market is anticipated to exhibit 21.12% CAGR from 2018 to 2023 (forecast period). It was valued at USD 639.12 million in 2017. The increased use of PKI certificates for authenticating the online security of websites is likely to drive market growth. High demand for secure encryption technologies can bode well for the market. The ease of conducting financial transactions with ease can be a plus for the market.

Key Players:

Ascertia, GlobalSign, Gemalto NV, SIGNiX, Assa Abloy Group, GoDaddy Inc., DocuSign Inc, Comodo Group Inc., VeriSign Inc., Entrust Datacard Corporation, Lexmark International Inc., and others are eminent names in the public key infrastructure market. The market is highly competitive and plagued by volatile market conditions, government policies, and industry development. Acquisitions are one of the major strategies employed by these players to sustain their position. Acquisition of local and regional players to expand the consumer base can bode well for these players.

Regional Analysis:

Region-wise, the public key infrastructure market share covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America led the market in 2017 followed by APAC. Its value was USD 239.7 million in 2017 and expected to exhibit 20.71% CAGR over the assessment period. This can be credited to its high use by governments of developed nations and presence of various market players.

The APAC region can showcase a stellar 23.38% CAGR till 2023 thanks to advances in technology and automation being adopted across various industrial sectors. South Korea, India, China, Taiwan, and Japan are the biggest countries which can contribute to the regional market revenue. China, in particular, can touch a valuation of USD 215.15 million by 2023.

The Europe region can exhibit exemplary growth due to the burgeoning automotive sector and adoption of IoT across industry verticals. Development of machine vision combined with immense potential across food & beverages, healthcare, and banking sectors can drive the regional public key infrastructure market growth.

Segmentation:

The global public key infrastructure market is segmented by solution, deployment, and end-user.

By solution, it is segmented into self-registration, secure roaming, PIN authentication, enrolment services, and inventory of digital identities.

By deployment, it is segmented into on-premise and cloud. The cloud-based deployment can be the biggest segment and exhibit 21.91% CAGR throughout the forecast period.

By end-user, the public key infrastructure market comprises retail, education, BFSI, government, manufacturing, human resources, health & life sciences, aerospace & defense, and others. The government segment will be accountable for highest market revenue, followed by the aerospace sector. This can be credited to the need for secure technologies for protecting sensitive information. On the other hand, the BFSI sector can exhibit 23.84% CAGR during the assessment period due to catering to financial wealth of high net worth individuals.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/public-key-infrastructure-market-3627