Public Key Infrastructure Market by Component, Application, Deployment Model, End-User

Description

List of Tables

[185 Pages Report] The Public Key Infrastructure Market size was estimated at USD 5.61 billion in 2023 and expected to reach USD 6.53 billion in 2024, at a CAGR 16.69% to reach USD 16.54 billion by 2030.

The Public Key Infrastructure (PKI) market comprises products, services, and solutions for implementing, managing, and maintaining a secure digital transaction and communication framework. PKI technology is crucial for managing digital certificates, encryption algorithms, and other cryptographic elements in various industries such as finance, healthcare, government, defense, IT & telecom, retail, and e-commerce. The scope of the PKI market extends to consulting services for designing organizational PKIs and managed PKI services offered by third-party vendors. The need for robust data protection and compliance with strict mandatory regulations due to rising cyber threats is a major growth factor in the PKI market. This demand has been amplified by enterprises adopting cloud-based solutions and remote work models during the COVID-19 pandemic. Additionally, the rapid expansion of the eCommerce sector needs enhanced online transactions, which propel market growth. The high cost of implementation and maintenance of KPIs and the complexity of deploying a comprehensive PKI system may hinder growth. Additionally, advancements in emerging technologies, including blockchain, AI, IoT, and Quantum Computing, can drive new opportunities within the PKI market. Fostering innovation through investments in R&D activities and partnerships is expected to pave the way for long-term sustainable growth in this crucial domain while ensuring a safer digital world for all stakeholders involved.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.61 billion
Estimated Year [2024]	USD 6.53 billion
Forecast Year [2030]	USD 16.54 billion
CAGR (%)	16.69%

Component: Increasing adoption of software and services due to security needs

Public Key Infrastructure (PKI) systems require a combination of hardware, service, and software components to ensure robust security, performance, and scalability. Essential hardware components include cryptographic devices such as Hardware Security Modules (HSMs), secure key storage solutions, and network appliances for managing digital certificates and key pairs. In the PKI ecosystem, service components encompass Certificate Authorities (CAs) responsible for issuing, validating, revoking, and renewing digital certificates. Organizations can choose between internal CAs or trusted third-party providers that offer comprehensive PKI services such as certificate management tools, audit support services, and customer support throughout the certificate lifecycle. Software components within a PKI infrastructure comprise applications for managing digital certificates, creating cryptographic keys, and implementing encryption algorithms as client-side software for end-users accessing secure services.

End-User: Growing demand from the defense and government sector for enhanced cybersecurity

The Public Key Infrastructure (PKI) market caters to various industry segments, including BFSI, defense, education and research, government, healthcare, human resources, legal, life sciences, manufacturing, and real estate. In the Banking, financial services, and insurance (BFSI) sector, PKI is crucial for securing online transactions and protecting sensitive customer data. The rise of digital banking platforms has emphasized the importance of robust PKI solutions to combat cyber threats targeting financial institutions.

Defense organizations require secure communication channels to protect classified information from adversaries. Institutions involved in education and research use PKI to safeguard their intellectual property and maintain academic integrity while providing remote access to resources for students and faculty members. Government entities across the globe utilize PKI to ensure secure communication, data protection, and identity verification of citizens. The healthcare industry relies on PKI to maintain patient privacy and safeguard electronic health records from unauthorized access. Human Resource departments use PKI solutions to protect sensitive employee data and verify identities during remote onboarding processes.

Life science organizations rely on PKI to secure research data, intellectual property rights, and regulatory compliance. The ongoing demand for secure data management systems within the life sciences industry has driven significant growth in PKI adoption. Manufacturers utilize PKI technology to secure their Industrial Control Systems (ICS) and protect supply chain communications. The increasing trend toward Industry 4.0 implementation has further highlighted the need for robust cybersecurity measures, including advanced PKI systems. In the real estate sector, PKI is pivotal in securing sensitive property data, virtual tour experiences, and smart home integrations while providing reliable identity verification methods during transactions.

Application: Growing demand for authentication and communication security

One primary application of PKI is identity verification or authentication. By implementing digital certificates issued by trusted Certificate Authorities (CAs), organizations can confirm the authenticity of individuals or entities accessing their services or resources. Digital certificates contain vital information about the holder's identity and their public key for secure communication. PKI is the backbone for various protocols that secure communication channels over networks, such as Transport Layer Security (TLS) and Secure Shell (SSH). These protocols utilize asymmetric encryption to establish a secure session between client and server devices before transmitting sensitive information. Emails are crucial for business communication but are also prone to security threats like spamming, phishing attacks, or unauthorized access to confidential information. PKI-based encryption systems allow organizations to secure critical data at rest. Organizations ensure that only authorized individuals can access the information by encrypting files and documents with the recipient's public key and decrypting them with the corresponding private key. Another vital application of PKI is securing web browsing activities. Websites with HTTPS protocol utilize TLS/SSL certificates issued by authoritative CAs as proof of identity.

Deployment Model: Rising preference for cloud-based deployment due to reduced upfront investments and the ability to scale resources up or down as needed

Cloud-based PKI is a popular choice for organizations that prefer a more scalable and flexible solution. This deployment model allows businesses to offload the responsibility of managing their PKI infrastructure to third-party providers with expertise in this area. Some advantages of opting for cloud-based PKI include reduced operational costs, ease of implementation, and accessibility through remote networks. On-premise PKI is a suitable option for organizations that require full control over their infrastructure due to strict compliance regulations or concerns about data privacy. By deploying an on-premise solution, businesses can customize their PKI according to unique requirements while ensuring robust security measures to protect sensitive information from potential threats.

Regional Insights

The Americas region has been at the forefront of Public Key Infrastructure (PKI) market growth due to the region's robust economy, technological advancements, and cybersecurity research investments continue to fuel innovation in PKI. North America has a well-established technology infrastructure that encourages innovation and rapid adoption of new technologies. Additionally, stringent regulatory requirements such as HIPAA and GDPR necessitate strong cybersecurity measures, including PKI. EU countries have implemented strict data protection regulations such as GDPR that mandate strong authentication measures, including PKI. The Middle East and Africa region has been slower to adopt PKI. However, it is gradually catching up due to growing investment in ICT infrastructure, rising cyber threats, and a burgeoning e-commerce sector, particularly in countries including the United Arab Emirates and Saudi Arabia. The APAC region presents significant growth for the PKI market as it houses some of the fastest-growing economies and a rapidly expanding digital ecosystem. Countries such as China, India, Japan, and South Korea have witnessed substantial boosts in mobile internet usage, which has led to an increased demand for secure communication solutions that include PKI. Furthermore, government initiatives focused on enhancing cybersecurity, such as China's Cyber Security Law (CSL), have spurred interest in adopting PKI solutions across various industries. Additionally, APAC nations increasingly focus on national security policies that require stronger encryption techniques to safeguard sensitive information.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Public Key Infrastructure Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Public Key Infrastructure Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Public Key Infrastructure Market, highlighting leading vendors and their innovative profiles. These include ACTALIS S.p.A., Broadcom, Inc., DigiCert, Inc., eMudhra Limited., Enigma Information Security Systems Sp. o.o., Entrust Corp, GlobalSign Ltd., GoDaddy Operating Company, LLC, IdenTrust Inc., International Business Machines Corporation, Kamatera, Inc., Microsec Ltd., Microsoft Corporation, Nexus Group, OneSpan Inc., Oracle Corporation, PrimeKey Solutions AB, Salesforce, Inc, SECARDEO GmbH, Sectigo Limited, Securemetric Berhad, Thales Group, Trustwave Holdings, Ubisecure, Inc, Verisign Inc., and WISeKey SA.

Market Segmentation & Coverage

This research report categorizes the Public Key Infrastructure Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
- Services
- Software

Application
- Authentication
- Encrypting & Decrypting Files
- Securing Communication & Network
- Web Browsing Security

Deployment Model
- Cloud-Based
- On-Premise

End-User
- BFSI
- Defense
- Education & Research
- Government
- Healthcare
- Human Resources
- Legal
- Life Sciences
- Manufacturing
- Real Estate

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Public Key Infrastructure Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Public Key Infrastructure Market?

3. What are the technology trends and regulatory frameworks in the Public Key Infrastructure Market?

4. What is the market share of the leading vendors in the Public Key Infrastructure Market?

5. Which modes and strategic moves are suitable for entering the Public Key Infrastructure Market?

Product Code: MRR-0375F3EAA4B2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising incidences of malware and file-based attacks worldwide
  - 5.1.1.2. Need to comply with strict mandatory regulations
  - 5.1.1.3. Rapid expansion of the eCommerce sector and need for enhanced online transaction security solutions
- 5.1.2. Restraints
  - 5.1.2.1. High cost of implementation and maintenance of KPIs
- 5.1.3. Opportunities
  - 5.1.3.1. Adoption of cloud-based services across various organizations
  - 5.1.3.2. Integration of advanced technologies in PKI
- 5.1.4. Challenges
  - 5.1.4.1. Privacy and security concerns associated with PKI
5.2. Market Segmentation Analysis
- 5.2.1. Component: Increasing adoption of software and services due to security needs
- 5.2.2. End-User: Growing demand from the defense and government sector for enhanced cybersecurity
- 5.2.3. Application: Growing demand for authentication and communication security
- 5.2.4. Deployment Model: Rising preference for cloud-based deployment due to reduced upfront investments and the ability to scale resources up or down as needed
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Public Key Infrastructure Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Public Key Infrastructure Market, by Application

7.1. Introduction
7.2. Authentication
7.3. Encrypting & Decrypting Files
7.4. Securing Communication & Network
7.5. Web Browsing Security

8. Public Key Infrastructure Market, by Deployment Model

8.1. Introduction
8.2. Cloud-Based
8.3. On-Premise

9. Public Key Infrastructure Market, by End-User

9.1. Introduction
9.2. BFSI
9.3. Defense
9.4. Education & Research
9.5. Government
9.6. Healthcare
9.7. Human Resources
9.8. Legal
9.9. Life Sciences
9.10. Manufacturing
9.11. Real Estate

10. Americas Public Key Infrastructure Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Public Key Infrastructure Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Public Key Infrastructure Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Intercede announced the acquisition of Authlogics, providing strong authentication from Passwords to PKI.
- 13.3.2. ID Crypt Global launches decentralized security infrastructure
- 13.3.3. PKI Solutions Introduces Latest Version of PKI Spotlight
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio