Report : 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 accounted for US$ 1.65 Bn in 2018 and is expected to grow at a CAGR of 11.4% over the forecast period 2019-2027, to account for US$ 4.55 Bn by 2027
Today, technology’s innovative solutions are helping technology companies across the world to accelerate their digital transformation adoption. From the past few years, the technology industry observed high growth and a dramatic increase worldwide — factors such as technological innovations, economic growth, and IT spending, influence technology industry dynamics considerably. The global economy is anticipated to stabilize and grow at a steady speed in the coming years, mostly driven by emerging economies such as China, India, and Brazil. Enterprises and new developing markets are expected to invest in the technology market to build IT infrastructure that would help reduce costs and enhance business productivity. Demand of advanced technologies such as public key infrastructure is on the rise as this technology securely exchanges the business information. Public key infrastructure technology has become significant for various industries to work in a secure environment. PKI technology is gaining significance important in every region due to growing cyber-attacks. Hence, such significant growth is expected to offer ample growth opportunities for the public key infrastructure market players during the forecast period of 2019 to 2027.
Cyber-attacks are on the rise in both enterprises and government sector around the globe. Ever-increasing threats and evolving industry and government regulations are forcing organizations to invest heavily in digital security. Organizations are becoming increasingly alert to cyber threats. In the last few years, cyber-attacks have affected the ease of doing businesses across many industries, including BFSI, healthcare, media & entertainment, and governments. In order to keep the data and device secure, PKI (Public Key Infrastructure) certificates are used. Hence, with the increasing cyber-attacks and adoption of digital certificates, the market of public key infrastructure is expected to witness high demand during the forecast period.
The spending on public key infrastructure is quite high in both developed and developing regions such as North America, Europe, and the Asia Pacific. The demand for public key infrastructure is expected to grow further during the forecast period of 2019 to 2027. Rising digitization and positive economic outlook are some of the major macroeconomic factors driving the growth of the public key infrastructure market. Public key infrastructure is turning more into the global business; as various large players are offering public key infrastructure solutions globally. Presently on a global scale, industry verticals such as BFSI, IT & telecom, retail & e-commerce, government and defense, manufacturing and automotive are the major contributors in public key infrastructure spending.
The global public key infrastructure market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. Europe is expected to contribute the largest market share by the year 2027.
With the presence of some of the major players such Gemalto (Thales Group), Entrust Datacard Corporation, Digicert Inc., IBM Corporation., and Futurex and a large number of small players, the adoption of public key infrastructure has been growing at an impressive pace in the Europe and North America region. However, developing and growing regions such as Asia Pacific, Middle East, Africa, and South America are expected to contribute a substantial percentage in the growth of global public key infrastructure market during the forecast period from 2019 to 2027, owing to the supportive government initiatives for digital transformation and presence of a large number of small and medium sized enterprises.
The major players operating in the market for global public key infrastructure market include 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 among others.
Public key infrastructure Market - Geographic Breakdown, 2018
The report segments the global public key infrastructure market as follows:
Global Public key infrastructure Market – By Component
Global Public Key Infrastructure Market – By Deployment Model
Global Public Key Infrastructure Market – By Enterprise Size
Global Public Key Infrastructure Market – By End-User
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