Public Key Infrastructure Market Expands with Cloud Segment at a robust CAGR

The increasing global public key infrastructure market is driven by increasing cybersecurity threats and data breaches, regulatory compliance and data privacy requirements during the forecast period 2024-2028.

According to TechSci Research report, “Global Public Key Infrastructure Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028, The Global Public Key Infrastructure (PKI) market is witnessing substantial growth and transformation, driven by the escalating need for robust cybersecurity solutions in an era of increasing digitalization. PKI, a fundamental component of modern digital security, provides a framework for secure communications, data encryption, and identity verification. Several key factors are contributing to the expansion of this market.

First and foremost, the proliferation of cyber threats and data breaches has made cybersecurity a top priority for organizations across industries. PKI serves as a fundamental tool in the arsenal against cyberattacks by ensuring secure transmission of data, protecting sensitive information, and verifying the authenticity of digital identities.

Furthermore, stringent regulatory requirements and compliance standards have compelled organizations to adopt PKI solutions. Regulations like the General Data Protection Regulation (GDPR), the Health Insurance Portability and Accountability Act (HIPAA), and the Payment Card Industry Data Security Standard (PCI DSS) necessitate strong data protection measures, encryption, and secure communication—all of which are provided by PKI.

The growth of cloud computing and the widespread adoption of cloud-based services have also fueled the demand for PKI. Cloud environments require robust identity and access management, which PKI facilitates. It offers secure authentication and encryption, ensuring that data remains protected even when stored or processed in the cloud.

Moreover, the rise of the Internet of Things (IoT) and the increasing number of connected devices have created a need for secure communication channels. PKI plays a pivotal role in establishing trust and security in IoT ecosystems, making it an integral part of IoT deployments.

While the PKI market is experiencing remarkable growth, it also faces challenges. Implementing and managing PKI can be complex, requiring specialized skills and resources. Interoperability issues between different PKI solutions can hinder adoption.

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The global public key infrastructure market is segmented into component, deployment mode, organization size, vertical, and region. Based on component, the market is segmented into hardware, solution, services. Based on Deployment mode, the market is segmented into on-premise, cloud. Based on organization size, the market is segmented into large enterprise, small & medium enterprise. Based on vertical, the market is segmented into BFSI, government & defense, it & telecom, retail, healthcare, manufacturing, others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Based on organization size, large enterprise dominated in the global public key infrastructure market in 2022. Large enterprises typically have more complex IT ecosystems with a multitude of applications, systems, and devices that require secure communication and authentication. PKI provides the robust security framework needed to manage and safeguard these intricate environments.

Large enterprises often operate on a global scale, conducting business across multiple countries and regions. PKI's ability to offer secure access and authentication across geographical boundaries is a crucial requirement for these organizations.

Large enterprises handle a substantial volume of digital transactions, both internally and externally. PKI ensures the confidentiality, integrity, and authenticity of these transactions, making it essential for financial institutions, e-commerce platforms, and other enterprises with high transaction volumes.

Large enterprises deal with vast amounts of sensitive data, including customer information, financial records, and intellectual property. PKI helps protect this data from unauthorized access and ensures compliance with industry regulations and data protection laws.

Large enterprises often require advanced authentication methods, such as multi-factor authentication (MFA) and smart card-based authentication. PKI enables these organizations to implement strong authentication mechanisms to enhance security.

Key market players in the global Public Key Infrastructure market are: -

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

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“The Global Public Key Infrastructure (PKI) market is experiencing robust growth due to escalating cybersecurity concerns and stringent data protection regulations. PKI, a fundamental component of modern digital security, facilitates secure communication, data encryption, and identity verification. The rising frequency and sophistication of cyberattacks, coupled with the need to comply with regulations such as GDPR and HIPAA, are driving the adoption of PKI across industries. Additionally, the growth of cloud computing, the Internet of Things (IoT), and the demand for secure communication channels further bolster the PKI market. While challenges like complexity and interoperability persist, PKI remains a critical element in safeguarding digital assets worldwide.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Public Key Infrastructure Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware, Solution, Services), By Deployment Mode (On-premise, Cloud), By Organization Size (Large Enterprise, Small & Medium Enterprise), By Vertical (BFSI, Government & Defense, IT & Telecom, Retail, Healthcare, Manufacturing, Others), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Global Public Key Infrastructure Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Public Key Infrastructure Market.

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