Public Key Infrastructure Market Segment, Statistics & Forecast to 2023 | Analysis of COVID-19
- ehteshampeerzade
- Oct 7, 2020
- 3 min read
Market Highlights
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.
Public key infrastructure (PKI) is a secure medium for transferring sensitive electronic data between two parties with a key for each party for decrypting the data. Technology companies are increasingly depending on PKI to secure data in an effective and organized manner. The global public key infrastructure market report by Market Research Future (MRFR) analyzes the latest trends engulfing the Internet and various government measures which can impact the market growth.
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.
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.
Regional Analysis:
North America currently dominates the global public key infrastructure market share 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.
Key Players
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+.
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