Public Key Infrastructure Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component, By Deployment Mode, By Organization Size, By Vertical, By Region & Competition, 2021-2031F

Description

The Global Public Key Infrastructure Market is projected to expand significantly, rising from USD 5.51 Billion in 2025 to USD 18.32 Billion by 2031, registering a CAGR of 22.17%. Public Key Infrastructure encompasses the essential policies, hardware, software, and roles needed to create, manage, and revoke digital certificates and encryption keys. This growth is primarily fueled by the increasing requirement for secure digital authentication within enterprises and the rapid proliferation of the Internet of Things, which necessitates strong device identification. Additionally, stringent global data protection laws are driving organizations to implement robust cryptographic frameworks to protect sensitive information and ensure regulatory compliance.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 5.51 Billion
Market Size 2031	USD 18.32 Billion
CAGR 2026-2031	22.17%
Fastest Growing Segment	Cloud
Largest Market	North America

One significant hurdle restricting market growth is the operational complexity associated with managing the lifecycle of a rapidly growing number of digital certificates, which frequently results in visibility blind spots and security vulnerabilities. This complexity often leads to human error or oversight regarding the validity of credentials. According to the Identity Defined Security Alliance, 90% of organizations encountered at least one identity-related incident in the past year as of 2024, underscoring the significant risks and challenges organizations face in maintaining effective identity security protocols.

Market Driver

The rising incidence of sophisticated cyberattacks and data breaches serves as a major catalyst for the adoption of Public Key Infrastructure. As malicious actors employ advanced techniques to intercept communications and compromise networks, organizations are forced to deploy encryption and digital signatures to ensure data integrity and confidentiality. This shift is driven by both operational needs and financial necessity, as businesses aim to reduce the significant costs linked to security incidents. According to IBM's 'Cost of a Data Breach Report 2024' released in July 2024, the global average cost of a data breach rose to USD 4.88 million, a 10% increase from the previous year, prompting enterprises to embed PKI into their security strategies to minimize financial and reputational harm.

Furthermore, the explosive growth of the Internet of Things and connected devices demands the expansion of PKI frameworks to handle identity management at scale. Unlike human users, networked devices rely on automated, non-transferable digital certificates for authentication and data encryption. The sheer volume of these non-human entities creates a management challenge that manual methods cannot sustain. According to Keyfactor's '2024 State of Machine Identity Management' report from May 2024, the average organization now oversees nearly 260,000 machine identities. To address this, companies are implementing automated PKI solutions to secure every endpoint, a necessity reinforced by Thales in 2024, where 93% of IT professionals noted an increase in the volume or severity of security threats.

Market Challenge

The primary obstacle hindering the growth of the Global Public Key Infrastructure Market is the severe operational complexity involved in managing the lifecycle of digital certificates. As organizations rapidly expand their digital presence through cloud services and the Internet of Things, the number of machine identities has surged, overwhelming IT teams that rely on manual tracking processes. This complexity results in significant visibility gaps, causing organizations to lose track of certificate locations and expiration dates, which directly contributes to critical service outages and security breaches.

This difficulty in effectively orchestrating cryptographic assets acts as a significant bottleneck for market adoption, as companies are reluctant to scale their PKI deployments without the resources to secure their existing infrastructure. The problem is further aggravated by a shortage of qualified personnel capable of managing these intricate environments. According to ISACA, in 2024, 53% of digital trust professionals cited a lack of staff skills and training as the primary barrier to achieving digital trustworthiness. This skills gap, coupled with operational opacity, raises the risk of human error and slows the broader integration of advanced PKI solutions required for market expansion.

Market Trends

The Global Public Key Infrastructure Market is increasingly characterized by the transition toward Post-Quantum Cryptography (PQC) standards as organizations prepare for the potential obsolescence of existing encryption methods. With the capability of quantum computers to compromise traditional algorithms like RSA and ECC, enterprises are prioritizing crypto-agility to mitigate the risk of adversaries capturing encrypted data today for future decryption. This defensive approach targets the 'harvest now, decrypt later' threat, which has become a major driver for upgrading cryptographic frameworks. According to the '2024 Data Threat Report' by Thales in March 2024, 68% of security professionals cited 'Harvest Now, Decrypt Later' attacks as their top concern regarding quantum computing, prompting an urgent shift toward quantum-resistant solutions.

Simultaneously, the integration of PKI into Zero Trust Security Architectures is transforming deployments by moving away from perimeter-based defenses to continuous identity verification. In this framework, digital certificates serve as critical trust anchors to authenticate every user and device, ensuring access is granted based on verified identity rather than location. This model demands scalable PKI systems that support dynamic, identity-centric environments with constant, automated verification. According to Entrust's '2024 State of Zero Trust & Encryption Study' released in May 2024, 61% of organizations have implemented a Zero Trust strategy to some extent, highlighting the strong momentum behind this architectural shift that is broadening the scope of PKI infrastructure.

Key Market Players

Thales
Entrust Datacard
DigiCert
GlobalSign
Let's Encrypt
GoDaddy
Cloudflare
Amazon Web Services
Microsoft Azure
Google Cloud Platform

Report Scope

In this report, the Global Public Key Infrastructure Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Public Key Infrastructure Market, By Component

Hardware
Solution
Services

Public Key Infrastructure Market, By Deployment Mode

On-premise
Cloud

Public Key Infrastructure Market, By Organization Size

Large Enterprise
Small & Medium Enterprise

Public Key Infrastructure Market, By Vertical

BFSI
Government & Defense
IT & Telecom
Retail
Healthcare
Manufacturing
Others

Public Key Infrastructure Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Public Key Infrastructure Market.

Available Customizations:

Global Public Key Infrastructure Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Public Key Infrastructure Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Component (Hardware, Solution, Services)
- 5.2.2. By Deployment Mode (On-premise, Cloud)
- 5.2.3. By Organization Size (Large Enterprise, Small & Medium Enterprise)
- 5.2.4. By Vertical (BFSI, Government & Defense, IT & Telecom, Retail, Healthcare, Manufacturing, Others)
- 5.2.5. By Region
- 5.2.6. By Company (2025)
5.3. Market Map

6. North America Public Key Infrastructure Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Deployment Mode
- 6.2.3. By Organization Size
- 6.2.4. By Vertical
- 6.2.5. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Public Key Infrastructure Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Component
    - 6.3.1.2.2. By Deployment Mode
    - 6.3.1.2.3. By Organization Size
    - 6.3.1.2.4. By Vertical
- 6.3.2. Canada Public Key Infrastructure Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Component
    - 6.3.2.2.2. By Deployment Mode
    - 6.3.2.2.3. By Organization Size
    - 6.3.2.2.4. By Vertical
- 6.3.3. Mexico Public Key Infrastructure Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Component
    - 6.3.3.2.2. By Deployment Mode
    - 6.3.3.2.3. By Organization Size
    - 6.3.3.2.4. By Vertical

7. Europe Public Key Infrastructure Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Deployment Mode
- 7.2.3. By Organization Size
- 7.2.4. By Vertical
- 7.2.5. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Public Key Infrastructure Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Component
    - 7.3.1.2.2. By Deployment Mode
    - 7.3.1.2.3. By Organization Size
    - 7.3.1.2.4. By Vertical
- 7.3.2. France Public Key Infrastructure Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Component
    - 7.3.2.2.2. By Deployment Mode
    - 7.3.2.2.3. By Organization Size
    - 7.3.2.2.4. By Vertical
- 7.3.3. United Kingdom Public Key Infrastructure Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Component
    - 7.3.3.2.2. By Deployment Mode
    - 7.3.3.2.3. By Organization Size
    - 7.3.3.2.4. By Vertical
- 7.3.4. Italy Public Key Infrastructure Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Component
    - 7.3.4.2.2. By Deployment Mode
    - 7.3.4.2.3. By Organization Size
    - 7.3.4.2.4. By Vertical
- 7.3.5. Spain Public Key Infrastructure Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Component
    - 7.3.5.2.2. By Deployment Mode
    - 7.3.5.2.3. By Organization Size
    - 7.3.5.2.4. By Vertical

8. Asia Pacific Public Key Infrastructure Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Deployment Mode
- 8.2.3. By Organization Size
- 8.2.4. By Vertical
- 8.2.5. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Public Key Infrastructure Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Component
    - 8.3.1.2.2. By Deployment Mode
    - 8.3.1.2.3. By Organization Size
    - 8.3.1.2.4. By Vertical
- 8.3.2. India Public Key Infrastructure Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Component
    - 8.3.2.2.2. By Deployment Mode
    - 8.3.2.2.3. By Organization Size
    - 8.3.2.2.4. By Vertical
- 8.3.3. Japan Public Key Infrastructure Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Component
    - 8.3.3.2.2. By Deployment Mode
    - 8.3.3.2.3. By Organization Size
    - 8.3.3.2.4. By Vertical
- 8.3.4. South Korea Public Key Infrastructure Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Component
    - 8.3.4.2.2. By Deployment Mode
    - 8.3.4.2.3. By Organization Size
    - 8.3.4.2.4. By Vertical
- 8.3.5. Australia Public Key Infrastructure Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Component
    - 8.3.5.2.2. By Deployment Mode
    - 8.3.5.2.3. By Organization Size
    - 8.3.5.2.4. By Vertical

9. Middle East & Africa Public Key Infrastructure Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Deployment Mode
- 9.2.3. By Organization Size
- 9.2.4. By Vertical
- 9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Public Key Infrastructure Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Component
    - 9.3.1.2.2. By Deployment Mode
    - 9.3.1.2.3. By Organization Size
    - 9.3.1.2.4. By Vertical
- 9.3.2. UAE Public Key Infrastructure Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Component
    - 9.3.2.2.2. By Deployment Mode
    - 9.3.2.2.3. By Organization Size
    - 9.3.2.2.4. By Vertical
- 9.3.3. South Africa Public Key Infrastructure Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Component
    - 9.3.3.2.2. By Deployment Mode
    - 9.3.3.2.3. By Organization Size
    - 9.3.3.2.4. By Vertical

10. South America Public Key Infrastructure Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Component
- 10.2.2. By Deployment Mode
- 10.2.3. By Organization Size
- 10.2.4. By Vertical
- 10.2.5. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Public Key Infrastructure Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Component
    - 10.3.1.2.2. By Deployment Mode
    - 10.3.1.2.3. By Organization Size
    - 10.3.1.2.4. By Vertical
- 10.3.2. Colombia Public Key Infrastructure Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Component
    - 10.3.2.2.2. By Deployment Mode
    - 10.3.2.2.3. By Organization Size
    - 10.3.2.2.4. By Vertical
- 10.3.3. Argentina Public Key Infrastructure Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Component
    - 10.3.3.2.2. By Deployment Mode
    - 10.3.3.2.3. By Organization Size
    - 10.3.3.2.4. By Vertical

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Public Key Infrastructure Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Thales
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Entrust Datacard
15.3. DigiCert
15.4. GlobalSign
15.5. Let's Encrypt
15.6. GoDaddy
15.7. Cloudflare
15.8. Amazon Web Services
15.9. Microsoft Azure
15.10. Google Cloud Platform