The new report by Expert Market Research titled, ‘Global Public Key Infrastructure Market Price, Share, Size, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global public key infrastructure market, assessing the market based on its segments like component, deployment mode, organisation size, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 1.61 billion
• Forecast CAGR (2021-2026): USD 14.7%
• Forecast Market Size (2026): USD 3.66 billion
The market’s primary drivers are the exponential expansion and growing demand for electronic communication, driven by a growing spectrum of network activities such as e-commerce, internet banking, and confidential email. Apart from this, growing business models are becoming more reliant on electronic contact, requiring online authentication and compliance with stronger data security rules. Next-generation business applications are becoming more reliant on public key infrastructure technology to ensure high assurance. In order to confirm the validity of transferred information, mounting worries about information security have enforced identification proof of the people participating in the connection, further augmenting the market expansion for public key infrastructure.
Industry Definition and Major Segments
A public key infrastructure (PKI) is a collection of roles, policies, hardware, software, and procedures for creating, managing, distributing, using, storing, and revoking digital certificates and managing public-key encryption. It is necessary for activities in which basic passwords are insufficient authentication methods and more stringent verification is required to establish the identities of the individuals participating in the communication and validate the data being exchanged.
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The global public key infrastructure market can be segmented on the basis of components into solutions and services. The breakup on the basis of the deployment model is on-premises and cloud. The public key infrastructure can be fragmented on the basis organisation size into large enterprises, small and medium-sized enterprises. On the basis of applications, the market can be divided into banking, financial services, insurance, government and defense, telecom and IT, healthcare and life sciences, retail and e-commerce, manufacturing and automotive, education, among others.
With the expansion in the data enrich engineering technology there is a boom in the public key infrastructure industry. The rise in the usage of on-cloud technology and the growth in Artificial intelligence (AI) has further resulted in the use of the public key infrastructure. Over the anticipated 2021-2016, the commercialization of 5G networks and advancements in IoT technologies will provide lucrative growth potential for the Public Key Infrastructure market. The rise in investment spending for further innovations in the sector propels the industry further. In addition, the upsurge in the use of public key infrastructure by government agencies across the globe creates additional profitability to the industry as a whole.
Key Market Players
The major players in the market are Gemalto NV, Technology Nexus Secured Business Solutions AB, Verisign Inc., Entrust Datacard Corporation, DigiCert Inc., Futurex LP, Comodo Security Solutions Inc., GMO GlobalSign Inc. , ISeKey International Holding AG, SSL Corp, Actalis SpA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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