New York, NY, Jan. 22, 2019 (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, global certificate authority market was valued at around USD 57.9 Million in 2017 and is expected to reach approximately USD 114.1 Million in 2024, growing at a CAGR of slightly above 10.18% between 2018 and 2024.
The entity responsible for issuing digital certificates that are implied for various identification and other confidential applications is termed as a certificate authority. Both the person requiring authentic identification and the certificate owner significantly rely on the certificate authority. These digital certificates are highly secured and apart from identification, they opt for encryption of enormous digital transaction as well.
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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Globally enhancing awareness of cybercrimes among various internet users is primarily boosting market growth. According to Gemalto NV, in the year 2017, nearly 900 data breaches were encountered in the first six months itself. By June 2017, more than 1.9 Billion data breaches records were registered, which is more than that in 2016 altogether. Moreover many large scale organizations are mandating certificate authorities, in order to build trust among rapidly expanding the online customer base.
However, some of the websites make use of self-signed certificates and thereby acting as self-certification authority which in return is restraining the market growth to a certain extent. IoT is trending globally that has simultaneously inflated the demand of IoT based Public Key Infrastructure (PKI) and is anticipated to create opportunities during the forecast period. According to Forbes, IoT market accounted USD 235 Billion by the year 2017 and is anticipated to get doubled by 2021.
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Certificate authority market is segmented based on component, validation, end-user, and region. A component segment of the market is majorly categorized into types of certificates and services offered. Certificate segment further includes an SSL certificate, secure email certificates, code signing certificates, and authentication certificate. Authentication segment is anticipated to grow substantially in the forecast period as it is preferred by clients for authenticating websites. Services segment is bifurcated into support services, managed PKI services, and other services. Support services are anticipated to encounter notable growth in the upcoming years for managing a large number of digital certificates.
Validation segment comprises extended validation certificates, organization validated certificates, and domain validated certificates. In the forecast period organization validated certificates are expected to be in high 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. BFSI segment is estimated to encounter significant share in upcoming years attributed to the fact of increasing demand for securing client’s confidential data.
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North America is projected to hold largest market share attributed to presence of renowned market players such as IdenTrust, GoDaddy Group, and Sectigo among others. Sectigo holds substantial market share and is anticipated to encounter nearly 29.3% by the end of 2018 in the SSL certificate market. Another factor driving the market in the forecast period is unbending data security regulations in the region. The U.S. and Canada are encountered as a major contributor in the region. In North America, both countries have surfaced as the prime domestic markets for public key infrastructure and digital certificates.
Compared to other regions, Europe is anticipated to witness significant growth in upcoming years. In the projected timeframe tremendously flourishing progress in terms of revenue is anticipated in the region. Prime factor for market demand proliferation is boosting number of certificate authority and rapid internet penetration. In December 2017, nearly 460 million internet users were accounted in the European Union. U.K., Germany, and France among other developed economies of Western Europe are anticipated to escalate the Europe market for public key infrastructure and digital certificates considerably in the forecast time frame. Remarkable escalation in number of certificate authorities and web domains in the region acts as add on to the market growth.
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 grow at highest CAGR in the forecast period attributed to the fact of emerging IoT trends. Internet of things (IoT) market is anticipated to account USD 853.88 Billion by the year 2020. Digital transformation and online business play vital role IN driving the market growth to greater extent. Numerous emerging Asian countries such as India, Singapore, and China have initiated advanced cyber security policies which in turn have significantly impelled the market demand in the region.
Certificate authority holds prime importance in smart city projects by providing government certification, project authentication and other verification purposes. The market in Latin America is majorly fueling owing to immensely trending smart city project in countries such as Mexico, Brazil, and Colombia. The smart city market is anticipated to grow at rate of 19.4% by the year 2020.
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Certificate authority market in MEA is mainly driven by rapidly accelerating number of enterprises. Since the digital certificates saves ample amount of time by gathering signatures online, they are highly adopted by enterprises. By the year 2016, more than 350,000 SMEs were accounted in UAE itself.
Adoption of the certificate authority is emerging globally and rapid technical developments are implemented by major market players. Prime certificate authority market players are Symantec Group, Sectigo, IdenTrust, Go Daddy Group, DigiCert Group, Certum, GlobalSign, Entrust, Actalis, Let’s Encrypt, Secom Trust, Trustwave, WISeKey Group, StartCom, Comodo CA, Camerfirma , WISeKey , SwissSign, TWCA, and Asseco Data Systems among others.
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The report segments global certificate authority market as follows:
Certificate Authority Market: Component Segment Analysis
- Certificate
- SSL Certificate
- Secure Email Certificates
- Code Signing Certificates
- Authentication Certificate
- Services
- Support Services
- Managed PKI Services
- Others
Certificate Authority Market: Validation Segment Analysis
- Extended Validation Certificates
- Organization Validated Certificates
- Domain Validated Certificates
Certificate Authority Market: End-user Segment 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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