Global Public Key Infrastructure Market 2023: Market Size, Trends, Development Status, Future Opportunities, Competitive Landscape and Forecast to 2033

Global Public Key Infrastructure Market Overview:

Global Public Key Infrastructure Market Market was valued at USD 4.9 billion in 2023 and is reach to USD 35.8 billion by 2033 at a CAGR of 22.0%

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the report comprises details of the historical revenue (US$) of the target market for 2023 and offers projections for the next 10 years. Market numbers have been estimated based on demand for various products/services, among others. Market size, share, and forecast has been provided in the context of the global, regional, and country-wise markets. The global public key infrastructure market report has been segmented on the basis of type, application, and region.

The global PKI market is driven by the increasing adoption of digital technologies and the growing need for secure communications and transactions. The market is also driven by the increasing use of cloud-based services, the Internet of Things (IoT), and mobile devices, which have increased the need for secure communications and transactions.

Research Methodology

Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies. Secondary research involves understanding details about leading companies in the target market, supported by a thorough and exhaustive study/research of company press releases, investor presentations, and stock analyst reports, etc.

Overview: Public Key Infrastructure

Public key infrastructure (PKI) permits consumers of the network and other people to use secure communications by using cybersecurity technology encryption and digital signature service. The public key infrastructure provides secure email communication, and safe money transaction, maintaining confidential data among various users over websites.

Public key infrastructure is built on asymmetric cryptography which consists of two types of keys that are public and private keys. The public key asymmetric cryptography is accessible by anybody with the same key in the group and private symmetric cryptography key is confidential and can only be accessed by an authorized person.

Market Dynamics

Rapid industrialization, coupled with increasing adoption of security measures untaken by various industries in order to protect private and sensitive data are major factors driving growth of the global public key infrastructure market.

Growing need for security over Internet by consumers for secure online banking transactions, online shopping, and private communication, coupled with high adoption of PKI owing to its features are other key factors expected to drive growth of the global public key infrastructure market. Increasing adoption of public key infrastructure in various sectors such as digital education, life science, and research, healthcare, government, aerospace, manufacturing industries, shopping, retail, etc.

as PKI helps in creating a reliable business environment is a factor expected to boost growth of the global public key infrastructure.  However, public key cryptography cannot maintain long-term security for any data, as information may be visible to other people and passwords may not remain authenticated for a longer period of time. This is a major factor that could hamper adoption of PKI and restrain growth of the global public key infrastructure market.

Segment Analysis

By Component:

Among the component segments, the solution segment is estimated to account for major revenue share in the global market owing to benefits offered by PKI solutions such as it helps to secure communication taking place between the client and the server by encryption of data flow. In addition, increasing adoption of PKI solution by various organizations, regardless of organization sizes, in order to ensure continuous compliance is another factor driving revenue growth of the segment in the target market.

By Deployment Type:

Among the deployment type segments, the cloud based segment is expected to account for major revenue share in the global public key infrastructure market, owing to increasing adoption of cloud-based services across various small and medium enterprises.

By Industrial Vertical:

Among the industrial vertical segments, the BFSI segment accounted for major revenue share in the target market in 2018, owing to presence of large volume of private and sensitive data in BFSI sector, coupled with high risks of threats and hacks.

Regional Analysis

The market in North America is expected to account for major share in the target market in terms of revenue, owing to increasing use of PKI for secure transactions. In addition, early adoption of PKI services and solution and presence of large number of prominent players in the countries in the region is another key factor driving growth of the North America public key infrastructure market. The market in Asia Pacific is expected to witness significant growth rate in the global market.

Global Public Key Infrastructure Market Segmentation:

Global Public Key Infrastructure Market Segmentation, by Component:

• Solution
• Services
  • Professional
  • Managed

Global Public Key Infrastructure Market Segmentation, by Deployment Type:

• Cloud-Based
• On-Premise

Global Public Key Infrastructure Market Segmentation, by Industrial Vertical:

• Aerospace & Defense
• Health care & Life Sciences
• Human Resources
• Manufacturing
• Government
• BFSI
• Education
• Retail
• Others

Global Public Key Infrastructure Market Segmentation, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa