Dublin, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The "Certificate Authority Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global certificate authority market is estimated to account for USD 127 Million in 2021. It is projected to reach USD 226 Million, at a CAGR of 12.3% from 2021 to 2026.
The major driving factors contributing to the high growth rate of the certificate authority market include a rise in instances of HTTPS phishing attacks, increasing instances of malware and file-based attacks, rising concerns pertaining to loss of critical data, and stringent mandatory regulations and compliances.
By component, the services segment to register the highest growth rate during the forecast period
The certificate type sub-segment is estimated to have the largest market size, while the services segment is expected to witness high market growth. The increasing number of cybercrimes is forcing organizations to deploy cutting-edge certificate management solutions. Regulations such as GLBA, HIPAA, and Personal Information Protection and Electronic Documents Act (PIPEDA), and standards (PCI DSS and SOX) necessitate businesses to meet the terms of these standards. The trend, in turn, would drive organizations across verticals to adopt certificate authority solutions and the associated services. In addition, the growing demand for technical expertise required to maintain and update certificate authority solutions is expected to drive the demand for managed PKI services.
By SSL certification validation type, the domain validation certification type to register the highest growth rate during the forecast period
In SSL certification validation type, the domain validation segment is projected to grow at the highest CAGR during the forecast period. Various certificate types are gaining traction in the SMEs segment due to the increasing number of SMEs worldwide and growing digitalization. North America dominates the organization validation segment, as enterprises in the region are highly adopting SaaS-based applications, which is driving the market growth. The extended validation segment is also expected to gain traction, as it gives the highest level of security assurance.
Asia Pacific to register the highest growth rate during the forecast period
Based on regions, the certificate authority market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. The market growth in Asia Pacific can be attributed to the increasing instances of malware and file-based attacks, rising concerns pertaining to loss of critical data, surge in the adoption of IoT and cloud trends, and stringent mandatory regulations and compliances. APAC experiences considerable security spending, owing to the ever-growing threat landscape of the region. APAC is expected to invest more in security, owing to the increasing threat of identity and access breaches.
Premium Insights
- Increasing Instances of Cyberattacks, Stringent Regulations, and Growing Adoption of IoT and Cloud Trends Driving the Growth of the Market
- BFSI Vertical and North America Region Estimated to Account for Significant Market Shares in 2021
- Certificate Types Segment Estimated to Account for a Larger Market Share in 2021
- Managed PKI Services Segment Estimated to Account for the Largest Market Share in 2021
- SME Segment Estimated to Account for a Larger Market Share in 2021
- Asia-Pacific to Emerge as the Best Market for Investments in the Next Five Years
Market Dynamics
Drivers
- Rise in Instances of Https Phishing Attacks
- Stringent Regulatory Standards and Data Privacy Compliances
- Rise in Concerns Pertaining to Loss of Critical Data
Restraints
- Running Private Certificate Authorities or Using Self-Signed Certificates
Opportunities
- Increase in the Need for Cloud-Based Security Solutions Among SMEs
- Exponential Increase in the Adoption of IoT Trend Across Industry Verticals
- Proliferation of Cloud-Based and Virtualization Technologies
Challenges
- Lack of Awareness Among Organizations About the Importance of SSL Certificates
Company Profiles
- Actalis
- Buypass
- Camerfirma
- Certigna
- Certsign
- Certum
- Digicert
- Disig
- E-Tugra
- Entrust
- Globalsign
- Godaddy
- Harica
- Identrust
- Let's Encrypt
- Netlock
- Network Solutions
- Onespan
- Sectigo
- SSL.Com
- SwissSign
- Trustwave
- Turktrust
- TWCA
- Wisekey
For more information about this report visit https://www.researchandmarkets.com/r/n5xjpe
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