Public Key Infrastructure Market Share, Comprehensive Analysis, Opportunity Assessment, Future Estimations and Key Industry Segments Poised for Strong Growth in Future 2023 | Corona-Virus Analysis
Market Highlights
As per the latest study conducted by Market Research Future (MRFR), the global market for public key infrastructure (PKI) will surge at a CAGR of 21.12% during the forecast period (2018-2023). PKI is a next-gen technology that integrates various points for networks to form safe and encrypted communication channels. PKI facilitates the management of private and public keys and digital certifications. PKI is used by individuals and organization to develop and maintain a secure and trustworthy networking environment.
Businesses and public bodies are opting for such advanced communication networks to achieve higher scalability and improve operational efficiency. PKI is a reliable, efficient, cost-effective, secure, and authentic method of creating authorization system for transferring of data and making transaction via digital platforms. Today, businesses are focusing on securing their intellectual property more than ever-before, which is driving the demand for technologies such as PKI. It provides organization with robust security through document authentication & encryption process as well as enables cost savings, time savings, and delivery of better customer service.
Deployment of PKI eliminates the precarious traditional means of authentication processes that are supported by mails or fax signatures. Much of the PKI’s success can be credited to the rapid growth of the IoT ecosystem. Internet has connected nearly all systems, technologies and devices. This has led to the development of more rampant machine-to-machine and man-to-machine communication where PKI plays an important role. With the expansion of IoT, industries are becoming more aware about importance of security.
Major Key players
- Comodo Group Inc.
- DocuSign Inc,
- GoDaddy Inc.
- Ascertia
- Assa Abloy Group
- GlobalSign
- Gemalto NV
- VeriSign Inc.
- Lexmark International Inc.
- Entrust Datacard Corporation
Segmentation:
The study includes a segmental analysis of the market based on solution, deployment, end-user and region. On the basis of solution, the market is segmented into PIN authentication, enrolment services, secure roaming, self-recovery, self-registration, and others. Over the years, significant progress has been made in developing public key infrastructure, which has created tremendous opportunities for various types of PKI solutions. Such solutions are used for managing digital certificates and encryption keys for people, programs, and systems. Based on deployment models, the market has been segmented into cloud-based and on-premise. Among these, the cloud-based segment is expected to outperform the on-premise segment. This is primarily owing to the higher adoption rate of PKI cloud deployment. The cloud-based segment is projected to exhibit a healthy growth rate during the forecast period. On the basis of end-user, the market has been segmented into healthcare and life sciences, human resources, manufacturing, government and defense, BFSI, education and research, and others. The BFSI segment is expected to account a significant share of the market in 2018.
Regional Analysis:
The public key infrastructure market growth has been covered across five key regions, including North America, Europe, the Middle East & Africa (MEA), South America and Asia Pacific (APAC). North currently accounts for the largest market share and trend is expected to continue beyond 2018. Presence of an established technology sector can be linked with the region’s market dominance. Following on the hills of North America, APAC and Europe are other two important markets for PKI.