New York, July 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Public Key Infrastructure Market to 2027 - Global Analysis and Forecasts By Component (Solution, Services); Deployment Model (Cloud, On-premise); Enterprise Size (Large Enterprises, SMEs); End User (BFSI, Retail and E-commerce, Government and Defense, IT and Telecom, Manufacturing and Automotive, Others)” The global public key infrastructure market growth is driven by increasing number of IoT devices, it is expected to have more than 1.5 billion IoT devices by 2022.
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| Market Size Value in | US$ 1.65 Billion in 2018 |
| Market Size Value by | US$ 4.55 Billion by 2027 |
| Growth rate | CAGR of 11.4% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 187 |
| No. Tables | 143 |
| No. of Charts & Figures | 95 |
| Historical data available | Yes |
| Segments covered | Component ; Deployment Model ; Enterprise Size ; End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Public key infrastructure handles authentication issues in small & medium enterprise and large enterprise. Large organizations adopt a PKI solution for ensuring continuous compliance. Also, to achieve secure communication, large organizations are adopting the Secure Sockets Layer (SSL) certificate that uses public key infrastructure for authentication and encryption. Further, companies in various regions are inclined towards providing public key infrastructure solution to large enterprises. For instance, GlobalSign Ltd. provides a highly scalable cloud-based public key infrastructure solution to offer digital identities that meet the demands of the Internet of Everything (IoE). Company's security and identity solutions allow large enterprises, cloud service providers, and Internet of Things (IoT) innovators to ensure security and privacy. The solution also protects its reputation and brand integrity and gain a competitive advantage. Hence, the offering of PKI solutions by potential companies drives the global public key infrastructure market.
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Public key infrastructure technology has been developed for exchanging information over an increasingly insecure Internet. Public key infrastructure technology delivers several benefits such as assurance of the quality of data sent and received electronically, assurance of the source and destination of that data, and assurance of the privacy of that data. Public key infrastructure can be used to provide cryptographic keys between users securely, and to enable other cryptographically delivered security services. Public Key Infrastructure also uses for supporting digital signatures and document encryption for a business. The PKI technology has become essential for effective, secure business and to achieve security and authentication requirements over non-secure networks such as the Internet.
The overall global public key infrastructure market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global public key infrastructure market. It also provides an overview and forecast for the public key infrastructure market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the public key infrastructure industry. Some of the players profiled in the public key infrastructure market report are Airbus S.A.S., Digicert Inc., Emudhra, Enigma Systemy Ochrony Informacji SP. Z O.O., Entrust Datacard Corporation, Futurex, Gemalto (Thales Group), IBM Corporation, Microsoft Corporation, and Securemetric.
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The global public key infrastructure market is highly competitive and fragmented. The increasing number of IoT devices is positively impacting the public key infrastructure (PKI) market. It is expected to have more than 1.5 billion IoT devices by 2022. This growth is attributed to the increasing adoption among various industries and 3GPP standardization of cellular IoT technologies. The IoT devices have hit the market in significant number but lag in security. In most of the use cases, IoT security is based on PKI and asymmetric cryptography. With the use of PKI technology, IoT devices can enable direct authentication across systems in decentralized handling of authentication. With PKI, IoT solutions can enable direct authentication across systems in decentralized handling of authentication.
The rising demand for information security solutions is broadly acknowledged in the Europe region. To address the cyber-attacks challenges, the region is adopting security solutions and focusing toward implementation of advanced technology such as public key infrastructure. Nowadays, technology is opening up whole new opportunities, with new solutions and services which are becoming integral parts of daily lives. The risk of cyber-attack is growing in the region. Hence, the region is focusing on accelerating the efforts to strengthen cybersecurity.
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Key findings of the study:
The increasing digitalization of government sector across the globe is a key opportunity for PKI vendors in the coming years. Some of the regional activities such as national identity-card projects and e-government initiatives have been promoting PKI. The increasing adoption of smart cards (which carries a digital certificate) is driving the demand for PKI. The Department of Defense's Common Access Card initiative is another factor positively impacting the growth of the PKI market.
Some of the countries promote government-to-citizen and government-to-business application of PKI. For instance, Australia's Tax Office's use onetime certificates for tax filings. While some countries have more-general PKI adoption and projects. For instance, China and Singapore are pushing PKI as part of their smart-card-based national ID-card programs. The above factors are driving the global public key infrastructure market.
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