Global Public Key Infrastructure Market Growth is Driven by Secure Medium for Data Transfer to Drive

Jul 17, 2019

Public Key Infrastructure Market by Solution (PIN Authentication, Enrollment Services, Inventory of Digital Identities, Secure Roaming, Self-Recovery, Self-Registration), Deployment (Cloud-Based, On-Premise), End-User (Aerospace and Defense, Health and Life Sciences, Human Resources, Manufacturing, Government, BFSI, Education, Retail, and Others), and Region-Global Forecast to 2023

Pune, India - July 17, 2019 /MarketersMedia/ —

Public key infrastructure (PKI) is a secure medium for transferring sensitive electronic data between two parties with a key for each party for decrypting the data. Technology companies are increasingly depending on PKI to secure data in an effective and organized manner. The global public key infrastructure market report by Market Research Future (MRFR) analyzes the latest trends engulfing the Internet and various government measures which can impact the market growth.

Market Outlook

The global public key infrastructure market is anticipated to exhibit 21.12% CAGR from 2018 to 2023 (forecast period). It was valued at USD 639.12 million in 2017. The increased use of PKI certificates for authenticating the online security of websites is likely to drive market growth. High demand for secure encryption technologies can bode well for the market. The ease of conducting financial transactions with ease can be a plus for the market.

Adoption of cloud and expansion of the IT sector has induced the need for secure technologies for secure transfer of electronic data. Looming threats of cyberattacks offer growth opportunities to the public key infrastructure market. Emergence of 5G networks which can support the internet of things (IoT) ecosystem while processing large data volumes can augment the market size till 2023. The market valuation can touch USD 1,987.1 million by 2023, as per MRFR’s report.

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Segmentation:

The global public key infrastructure market is segmented by solution, deployment, and end-user.

By solution, it is segmented into self-registration, secure roaming, PIN authentication, enrolment services, and inventory of digital identities.

By deployment, it is segmented into on-premise and cloud. The cloud-based deployment can be the biggest segment and exhibit 21.91% CAGR throughout the forecast period.

By end-user, the public key infrastructure market comprises retail, education, BFSI, government, manufacturing, human resources, health & life sciences, aerospace & defense, and others. The government segment will be accountable for highest market revenue, followed by the aerospace sector. This can be credited to the need for secure technologies for protecting sensitive information. On the other hand, the BFSI sector can exhibit 23.84% CAGR during the assessment period due to catering to financial wealth of high net worth individuals.

Regional Analysis:

Region-wise, the public key infrastructure market covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America led the market in 2017 followed by APAC. Its value was USD 239.7 million in 2017 and expected to exhibit 20.71% CAGR over the assessment period. This can be credited to its high use by governments of developed nations and presence of various market players.

The APAC region can showcase a stellar 23.38% CAGR till 2023 thanks to advances in technology and automation being adopted across various industrial sectors. South Korea, India, China, Taiwan, and Japan are the biggest countries which can contribute to the regional market revenue. China, in particular, can touch a valuation of USD 215.15 million by 2023.

The Europe region can exhibit exemplary growth due to the burgeoning automotive sector and adoption of IoT across industry verticals. Development of machine vision combined with immense potential across food & beverages, healthcare, and banking sectors can drive the regional public key infrastructure market growth.

Key Players:

Ascertia, GlobalSign, Gemalto NV, SIGNiX, Assa Abloy Group, GoDaddy Inc., DocuSign Inc, Comodo Group Inc., VeriSign Inc., Entrust Datacard Corporation, Lexmark International Inc., and others are eminent names in the public key infrastructure market. The market is highly competitive and plagued by volatile market conditions, government policies, and industry development. Acquisitions are one of the major strategies employed by these players to sustain their position. Acquisition of local and regional players to expand the consumer base can bode well for these players.

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List of Figures

FIGURE 1 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET: MARKET STRUCTURE

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 DROC ANALYSIS OF GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET

FIGURE 4 DRIVER IMPACT ANALYSIS

FIGURE 5 VALUE CHAIN: PUBLIC KEY INFRASTRUCTURE MARKET

FIGURE 6 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET

FIGURE 7 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2017 VS 2023 (USD MILLION)

FIGURE 8 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2017 VS 2023 (USD MILLION)

FIGURE 9 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY REGION, 2017 VS 2023 (USD MILLION)

FIGURE 10 NORTH AMERICA PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2017 VS 2023 (USD MILLION)