What is the global market size of Public Key Infrastructure (PKI) Market?

Global Public Key Infrastructure (PKI) Market size was valued at USD 3.90 Billion in 2022 and is expected to grow from USD 4.70 Billion in 2023 to reach USD 20.89 Billion by 2031, at a CAGR of 20.50% during the forecast period (2024-2031).

Public Key Infrastructure (PKI) Market Size, Share, Growth Analysis, By Offering(Hardware Security Modules (HSM), Solutions, and Services), By Services(Professional Services, and Managed Services), By Deployment Mode(Cloud, and On-Premises), By Organization Size(Large Enterprises, and SMEs), By Application(Web browsing security, Email security, Secure communication, and Authentication), By Vertical(BFSI, Government and Defense, IT and Telecom, Retail), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45B2048 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 59 | Figures: 75

Public Key Infrastructure (PKI) Market Regional Insights

North America dominated the global PKI market, primarily driven by the presence of technologically advanced countries such as the United States and Canada. These countries have well-established digital infrastructure and a high degree of adoption of PKI solutions across various sectors, including finance, healthcare, government, and defense. The region is home to several major PKI solution providers and has a mature market ecosystem.

The APAC region is experiencing significant growth in the PKI market, driven by factors such as rapid digitalization, increasing internet penetration, and the expanding e-commerce sector. Countries such as China, Japan, India, and South Korea are witnessing substantial demand for PKI solutions.

Public Key Infrastructure (PKI) Market Report Snapshots

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Global Public Key Infrastructure (PKI) Market size was valued at USD 3.90 billion in 2022 and is poised to grow from USD 4.70 billion in 2023 to USD 20.89 billion by 2031, growing at a CAGR of 20.50% during the forecast period (2024-2031).

The Public Key Infrastructure (PKI) market is characterized by the presence of several key players vying for market share. Established companies such as Entrust Datacard, DigiCert, and Gemalto (Thales Group) dominate the market with their comprehensive PKI solutions and strong customer base. Additionally, there are emerging players like GlobalSign, Nexus Group, and Securemetric offering innovative PKI solutions. These companies focus on strategic partnerships, product enhancements, and mergers/acquisitions to gain a competitive edge and expand their market presence in the highly competitive PKI industry. 'Thales Group', 'Entrust Datacard', 'DigiCert, Inc.', 'ManageEngine (a division of Zoho Corporation)', 'Microsoft Corporation', 'HID Global Corporation', 'Google LLC', 'Amazon Web Services, Inc.', 'AppViewX, Inc.', 'Venafi, Inc.', 'Nexus Group', 'Sectigo Limited', 'Futurex', 'GlobalSign', 'WISeKey International Holding Ltd', 'Cygnacom Solutions, Inc.', 'Softlock', 'SSL.com', 'Stormshield', 'LawTrust'

One significant driver for the growth of the Public Key Infrastructure (PKI) market is the increasing need for data security and privacy in the digital era. With the rising number of digital transactions, online communication, and cloud-based services, organizations across sectors are adopting PKI solutions to protect sensitive information from unauthorized access and tampering, ensuring secure communication and data integrity. This driver is fueled by the growing awareness of the potential risks associated with cyber threats and data breaches.

One key trend in the Public Key Infrastructure (PKI) market is the growing adoption of cloud-based PKI solutions. Organizations are increasingly leveraging cloud technology to streamline their PKI infrastructure and simplify certificate management processes. Cloud-based PKI offers benefits such as scalability, cost-efficiency, and enhanced accessibility. It enables organizations to deploy PKI services quickly, without the need for extensive on-premises infrastructure. This trend is driven by the rising demand for flexible and agile PKI solutions that can support dynamic business environments and remote workforce scenarios.

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Public Key Infrastructure (PKI) Market Regional Insights

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