Global Public Key Infrastructure (PKI) Market – Industry Trends and Forecast to 2031

Public Key Infrastructure (PKI) Market Analysis and Size

Growing market demand in various industries such as healthcare, banking, and e-commerce to reduce the cost of authentication and increase trust in online sellers and customers is driving the rapid adoption of public-key encryption solutions. Furthermore, with the increased use of the internet for a variety of purposes, including business, there has been an increase in Malware and File-Based Attacks, which is expected to bode well for market growth.

Data Bridge Market Research analyzes that the global public key infrastructure (PKI) market which was USD 6.63 billion in 2023, is expected to reach USD 3.34 billion by 2031, and is expected to undergo a CAGR of 8.37% during the forecast period of 2023 to 2031. “Solution” is dominating the market due to increasing demand for solutions to secure electronic information transfer for a variety of network activities such as e-commerce, secure email, and internet banking.  In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

PKI is a collection of procedures, roles, policies, hardware, and software required to create, manage, distribute, use, store, and revoke digital certificates, as well as manage public-key encryption. A public key infrastructure (PKI) enables secure electronic information transfer for a variety of network activities such as e-commerce, secure email, and internet banking.

Global Public key Infrastructure (PKI) Market Dynamics

Driver

• Increasing demand for solutions to tackle malware and file-based attacks

One of the major factors that is influencing the demand for public key infrastructure (PKI) solutions is the rise in Malware and File-Based Attacks. These attacks can compromise the security and integrity of sensitive data, such as personal information, financial transactions, and intellectual property. Public key infrastructure (PKI) is a system that uses cryptographic keys to authenticate and encrypt data, ensuring its confidentiality, authenticity, and non-repudiation. By implementing public key infrastructure (PKI), organizations can protect their data from unauthorized access, tampering, and theft. 

Opportunity

• Growing Internet of Things (IoT) trend across industry verticals

The public key infrastructure (PKI) market is expected to witness significant growth in the coming years, as the Internet of Things (IoT) trend expands across various industry verticals. IoT devices rely on PKI to ensure secure communication, authentication, and data integrity. The increasing adoption of IoT solutions in sectors such as healthcare, manufacturing, energy, and transportation will create new opportunities for the PKI market players to offer innovative and customized solutions. Therefore, the public key infrastructure (PKI) market is poised to benefit from the innovation and development of vehicle technologies.

Restraint/Challenge

• Shortage of skilled labour with the knowledge and experience

One of the challenges facing the adoption of secure digital communication and authentication is the shortage of skilled labor with the knowledge and experience to deploy and manage public key infrastructure systems. Public key infrastructure (PKI) is a complex and evolving technology that requires specialized training and certification. However, the demand for PKI experts exceeds the supply, resulting in a gap that hinders the implementation and maintenance of PKI solutions. This gap also poses a risk to the security and reliability of PKI systems, as unqualified or inexperienced personnel may introduce errors or vulnerabilities that compromise the integrity of the cryptographic keys and certificates.

This public key infrastructure (PKI) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the public key infrastructure (PKI) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In August 2022, Thales announced the implementation of Certificate Authority/Public Key Infrastructure across UK Rail Network.  This will allow NRT to assign and centrally manage digital certificates and authentication to services across the entire Network Rail operation

Global Public Key Infrastructure (PKI) Market Scope

The public key infrastructure (PKI) market is segmented on the basis of component, deployment, organization size and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the Users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Software
• Services

Deployment

• Cloud
• On Premise

Organization Size

• Small and Medium Enterprises
• Large Enterprises

End User

• BFSI
• Telecom and IT
• Retail and E-Commerce
• Healthcare and Life Sciences
• Manufacturing and Automotive
• Education
• Government and Defense
• Others

Global Public Key Infrastructure (PKI) Market Regional Analysis/Insights

The public key infrastructure (PKI) market is analyzed and market size, volume information is provided by country, component, deployment, organization size, and end user industry as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

North America is expected to dominate the market due to the growing need to ensure continuous data security compliance across the enterprise, as well as widespread adoption of the Secure Sockets Layer (SSL) certificate, which uses public-key encryption solutions for encryption and authentication.

Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period due to security requirements in large web infrastructures and an evolving cyberattack landscape as large organisations' network endpoints expand.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Public Key Infrastructure (PKI) Market Share Analysis

The public key infrastructure (PKI) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to public key infrastructure (PKI) market.  

Some of the major players operating in the public key infrastructure (PKI) market are:

• Thales Group (U.S.)
• Technology Nexus Secured Business Solutions AB (Sweden)
• VeriSign, Inc. (U.S.)
• Entrust Datacard Corporation (U.S.)
• DigiCert, Inc. (U.S.)
• Futurex (U.S.)
• Comodo Security Solutions, Inc. (U.S.)
• GlobalSign (U.K.)
• WISeKey (Switzerland)
• Expedient (U.S.)
• BIOS Middle East Group (U.A.E.)
• Veeam Software (Switzerland)
• Internap Holding LLC (U.S.)
• Fine Telecommunications, Inc. (Japan)

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