New York, NY, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Certificate Authority Market by Component (Certificate (SSL Certificate, Secure Email Certificates, Code Signing Certificates, and Authentication Certificate) and Services (Support Services, Managed PKI Services, and Others)), by Validation (Extended Validation Certificates, Organization Validated Certificates, and Domain Validated Certificates), and by End-User (Banking, Financial Services, and Insurance (BFSI), Retail, Government, Aerospace and Defense, Healthcare, IT and Telecom, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024’’. According to the report, the global certificate authority market was valued at around USD 57 million in 2017 and is expected to reach approximately USD 114 million by 2024, growing at a CAGR of slightly above 10.18% between 2018 and 2024.
Entities responsible for issuing digital certificates, which are used for various identification and other confidential applications, are called certificate authorities. Both the person requiring authentic identification and certificate owner significantly rely on these certificate authorities. These digital certificates are highly secured and are widely used for encryption of enormous digital transactions.
Browse through 61 Tables & 30 Figures spread over 168 Pages and in-depth TOC on “Global Certificate Authority Market Share 2017: By Component Type, Size, Trends, Application, Analysis and Forecast to 2024”.
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The increasing awareness of cybercrimes among various internet users is anticipated to primarily boost this market. Gemalto reported that nearly 900 data breaches happened in the second quarter of 2017. More than 1.9 billion data breach records were registered by June 2017. Moreover, many large-scale organizations are mandating certificate authorities, to build trust among their rapidly expanding online customer bases. However, the high initial deployment cost might limit the certificate authority market in the future. The IoT market is trending globally that is simultaneously inflating the demand for IoT based Public Key Infrastructure (PKI) and is anticipated to create new market opportunities in the forecast time period. According to the Forbes, the IoT market accounted USD 235 billion in 2017 and this figure is anticipated to be doubled by 2021.
The certificate authority market is segmented based on component, validation, and end-user. The component segment is categorized into certificates and services offered. The certificates segment includes SSL certificate, secure email certificates, code signing certificates, and authentication certificate. Authentication certificates are anticipated to grow substantially over the forecast time period, as they are preferred by clients for authenticating websites. The services segment includes support services, managed PKI services, and other services. Support services are anticipated to witness notable growth in the future, owing to the ability of firms to manage a large number of digital certificates. The validation segment comprises extended validation certificates, organization validated certificates, and domain validated certificates. During the forecast period, organization validated certificates are expected to be in huge demand for building client’s trust and retention. The end-user segment includes Banking, Financial Services, and Insurance (BFSI), retail, government, aerospace and defense, healthcare, IT and telecom, education, and others. The BFSI sector is estimated to hold a significant market share in the upcoming years, due to the increasing demand for securing client’s confidential data.
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North America is projected to hold the largest share in the certificate authority market over the estimated timeframe. This can be attributed to the presence of renowned market players, such as IdenTrust, GoDaddy Group, and Sectigo among others, in the region. This regional market is also anticipated to be driven by the region’s strict data security regulations. The U.S. and Canada are likely to be major regional revenue contributors. Both these countries have surfaced as prime markets for public key infrastructure and digital certificates in North America.
Europe is anticipated to witness significant growth in the upcoming years, due to the growing number of certificate authorities and rapid penetration of the internet. In December 2017, the European Union had nearly 460 million internet users. The UK, Germany, and France, among other developed economies of Europe are anticipated to further boost the European market, particularly for public key infrastructure and digital certificates considerably, in the forecast timeframe.
Browse the full "Certificate Authority Market by Component (Certificate (SSL Certificate, Secure Email Certificates, Code Signing Certificates, and Authentication Certificate) and Services (Support Services, Managed PKI Services, and Others)), by Validation (Extended Validation Certificates, Organization Validated Certificates, and Domain Validated Certificates), and by End-User (Banking, Financial Services, and Insurance (BFSI), Retail, Government, Aerospace and Defense, Healthcare, IT and Telecom, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024" Report at https://www.zionmarketresearch.com/report/certificate-authority-market
Asia Pacific is estimated to register the highest CAGR in the estimated period, due to the growing popularity of the Internet of things (IoT) trends. The IoT market is anticipated to account for nearly USD 853.88 billion by 2020. Rapid digital transformation and rise in the number of online businesses are projected to play a vital role in driving this regional market. Numerous emerging Asian countries, such as India and China, have initiated advanced cybersecurity policies, which, in turn, are likely to significantly drive the region’s certificate authority market.
The Latin American certificate authority market holds prime importance in smart city projects by providing government certification, project authentication, and other verification purposes. This regional market is likely to expand in the future, owing to the trending smart city projects in Mexico, Brazil, and Colombia. The smart city market is anticipated to grow at a rate of around 19.4% by 2020.
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The Middle Eastern and African certificate authority market is likely to be driven by a rapidly growing number of enterprises in the region. Since digital certificates save time by collecting online signatures, they are in huge demand by newly set-up enterprises.
Some globally renowned players of certificate authority market include Symantec Group, Sectigo, IdenTrust, GoDaddy Group, DigiCert Group, Certum, GlobalSign, Entrust, Actalis, Let’s Encrypt, Secom Trust, Trustwave, WISeKey Group, StartCom, ComodoCA, Camerfirma, SwissSign, TWCA, and Asseco Data Systems, among others.
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The report segments the global certificate authority market as follows:
Certificate Authority Market: Component Analysis
- Certificate
- SSL Certificate
- Secure Email Certificates
- Code Signing Certificates
- Authentication Certificate
- Services
- Support Services
- Managed PKI Services
- Others
Certificate Authority Market: Validation Analysis
- Extended Validation Certificates
- Organization Validated Certificates
- Domain Validated Certificates
Certificate Authority Market: End-User Analysis
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Retail
- Aerospace and Defense
- Government
- Healthcare
- Education
- Others
Certificate Authority Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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