The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The public key infrastructure market has witnessed an exponential growth trajectory in recent years, with a significant surge projected for the future. In 2023, the market size reached $3.85 billion and is forecasted to escalate to $4.69 billion by 2024, showcasing a compound annual growth rate (CAGR) of 21.8%. This growth trend is expected to continue, with estimations pointing towards a market size of $9.74 billion by 2028, at a CAGR of 20.1%.

Drivers of Growth

1. Security Concerns: In an increasingly interconnected world, concerns regarding data security have heightened, propelling the demand for robust cybersecurity solutions.
2. Regulatory Compliance: Stringent regulations mandating data protection and privacy compliance are compelling organizations to adopt advanced security measures, including PKI solutions.
3. Digital Transformation Initiatives: The rapid pace of digital transformation across various sectors necessitates secure mechanisms to safeguard digital assets and communications.
4. E-commerce Growth: With the burgeoning e-commerce landscape, secure online transactions are imperative, thus driving the adoption of PKI solutions.
5. Increasing Interconnectedness: The proliferation of interconnected devices and networks underscores the need for robust encryption and authentication mechanisms.

Cybercrime Escalation Is A Driving Force For PKI Market Expansion

The Menace of Cyber Fraud
The exponential rise in cyber frauds has emerged as a significant driver for the expansion of the public key infrastructure market. Cyber frauds entail deliberate manipulation of personal and financial data stored online, posing a severe threat to individuals and organizations alike.

Public Key Infrastructure: A Cybersecurity Bastion
PKI serves as a cornerstone of cybersecurity infrastructure, offering a multifaceted approach to thwart cyber threats. By integrating hardware security modules (HSMs), certification authorities (CAs), and cryptographic keys, PKI fortifies data encryption and shields against cyber frauds.

Statistics Speak
According to the Internet Crime Report 2021 by the Federal Bureau of Investigation (FBI), cybercrime complaints surged, with a notable increase in personal data breaches and phishing incidents. The potential losses incurred due to cyber frauds underscore the criticality of robust cybersecurity measures, positioning PKI solutions at the forefront of defense.

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Technological Advancement In The Public Key Infrastructure Market

Innovations Driving Market Evolution
Technological advancements play a pivotal role in shaping the landscape of the public key infrastructure market. Leading market players are committed to innovation to enhance their offerings and maintain a competitive edge.

Keyfactor’s CLAaaS Platform: A Technological Marvel
In August 2021, Keyfactor introduced the Certificate Lifecycle Automation as-a-Service (CLAaaS) Platform, a cloud-native solution designed to streamline certificate administration in complex hybrid and multi-cloud environments. This innovative offering underscores the market’s evolution towards automation and scalability.

Entrust Corp’s Strategic Acquisition
In January 2021, Entrust Corp bolstered its digital security portfolio through the acquisition of HyTrust Inc. This strategic move enabled Entrust to augment its encryption and cloud security capabilities, catering to the evolving needs of businesses navigating digital transformations.

Segmentation and Regional Dynamics

Segmentation Insights
The public key infrastructure market is segmented based on components, deployment modes, organization sizes, and verticals, enabling targeted strategies and customized solutions to meet diverse requirements.

1. Component: Hardware Module, Solution, Services
2. Deployment Mode: Cloud, On-Premise
3. Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4. Verticals: BFSI, Government and Defense, IT and Telecom, Retail, Healthcare, Manufacturing, and Others

Regional Dominance
North America emerged as the frontrunner in the public key infrastructure market in 2023, reflecting the region’s robust technological infrastructure and heightened focus on cybersecurity.

In conclusion, the public key infrastructure market’s exponential growth trajectory underscores its pivotal role in fortifying cybersecurity defenses amid escalating cyber threats. With technological advancements and strategic initiatives driving market evolution, PKI solutions are poised to redefine the cybersecurity landscape in the years to come.

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The Public Key Infrastructure Global Market Report 2024  provides an overview of the public key infrastructure market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The public key infrastructure market forecast analyzes public key infrastructure market size, public key infrastructure market share, leading competitor and their market positions.

The Table Of Content For The Public Key Infrastructure Market Include:
1. Public Key Infrastructure Market Executive Summary
2. Public Key Infrastructure Market Segments
3. Public Key Infrastructure Market Size And Public Key Infrastructure Market Growth Rate
4. Key Public Key Infrastructure Market Trends
5. Major Public Key Infrastructure Market Drivers
……
25. Key Mergers And Acquisitions In The Public Key Infrastructure Market
26. Top Public Key Infrastructure Companies
27. Public Key Infrastructure Market Opportunities And Strategies
28. Public Key Infrastructure Market, Conclusions And Recommendations
29. Appendix

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