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$3.6 Bn Public Key Infrastructure Market, 2024 - Growing IoT Trend Across Industry Verticals

DUBLIN, June 25, 2019 /PRNewswire/ -- The "Public Key Infrastructure Market by Component (Solution and Services (Professional and Managed)), Deployment Type, Organization Size, Vertical (BFSI, Telecom and IT, Healthcare and Life Sciences), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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The Global Public Key Infrastructure (PKI) Market Size is Expected to Grow USD 1.7 Billion in 2019 to USD 3.6 Billion By 2024, at a CAGR of 15.1%

The exponential rise in the sophistication of cyber attacks and huge monetary losses due to these attacks will drive the overall PKI market

Various factors such as exponential rise in the sophistication level of cyber attacks and huge monetary losses due to these attacks are expcected to drive the market. However, lack of awareness among organizations about the importance of PKI certificates may restrain market growth.

Solution segment to hold a larger market size during the forecast period

The solution segment is expected to hold a larger market size in the PKI market during the forecast period. PKI vendors help enterprises in providing the necessary knowledge, awareness, and risk background to understand threats to their environment and react appropriately. The solution helps enterprises validate the identity of the transactions between the individuals as well as preventing any unauthorized access across organizations networks, servers, and other infrastructure. The solutions also provide the framework for the organizations in managing the keys for public key encryption and validates users based on the certificates issued by the certificate authorities. Hence, organizations are adopting PKI solutions to protect their infrastructure from identity-related cyberattacks.

Among deployment type, cloud deployment segment to grow at a higher CAGR during the forecast period

Under deployment type, PKI market is segmented by cloud and on-premises segments. The cloud deployment type is set to grow at a higher CAGR during the forecast period. The deployment of cloud-based PKI solutions is done through the internet, where software, infrastructure, platforms, devices, and other resources are provided as services on a pay-per-use basis by consumers.

An external PKI vendor provides software, hardware, backup, disaster recovery, and other infrastructure to the organizations who pay for their solutions and services, which would otherwise become a burden for owners of on-premises PKI solutions. Cloud-based systems are comparatively less expensive than on-premises deployment, thus permitting businesses to reduce IT expenses, including hardware and support staff. Owing to these factors, organizations are adopting the cloud-based deployment type for deploying PKI solutions on a large scale.

North America to account for the largest market size, whereas APAC to grow at the highest CAGR

North America is projected to hold the largest market size of the PKI market during the forecast period, owing to the early adoption of the PKI solutions in the region across various verticals, such as telecom and IT, healthcare and life sciences, and Banking, Financial Service, and Insurance (BFSI).

The concentrated presence of a large number of PKI solution and services providers in the US is also expected to drive revenue growth from the region. The APAC market is expected to grow at the highest CAGR during the forecast period, owing to notable adoption of the technology as enterprises across telecom and IT vertical are now adopting cloud-based PKI solutions to manage their IT infrastructure better.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Public Key Infrastructure Market
4.2 Market By Component, 2019
4.3 Market By Service Type, 2019-2024
4.4 Market Market Share of Top 3 Industry Verticals and Regions, 2019
4.5 Market By Deployment Type, 2019
4.6 Market Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Trust on Online Sellers and Customers
5.2.1.2 Increasing Instances of Malware and File-Based Attacks
5.2.1.3 Stringent Mandatory Regulations and Compliances
5.2.2 Restraints
5.2.2.1 Running Private Certificate Authorities Or Using Self-Signed Certificates
5.2.3 Opportunities
5.2.3.1 Growing IoT Trend Across Industry Verticals
5.2.3.2 Proliferation of Cloud-Based Services Among Global Organizations
5.2.4 Challenges
5.2.4.1 Lack of Awareness Among Organizations About the Importance of PKI Certificates

6 Public Key Infrastructure Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Need to Secure Organization's Infrastructure and Assets From Unauthorized Access, Impersonation, and Identity Thefts Driving the Adoption of Public Key Infrastructure Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Increasing Need for Planning, Designing, and Consulting of Public Key Infrastructure Solutions to Fuel the Demand for Professional Services
6.3.2 Managed Services
6.3.2.1 Growing Demand for Technical Expertise Required to Maintain and Update PKI Solutions to Drive the Demand for Managed Services

7 Public Key Infrastructure Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Need for Managing Huge Volumes of Business-Critical Information to Boost the Adoption of Public Key Infrastructure Solutions Among Large Enterprises
7.3 Small and Medium-Sized Enterprises
7.3.1 Increasing Cloud-Based Services to Boost the Adoption of Public Key Infrastructure Solutions Among Small and Medium-Sized Enterprises

8 Public Key Infrastructure Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Demand for Control and Flexibility of Organization's Infrastructure to Drive the Adoption of On-Premises Public Key Infrastructure Solutions
8.3 Cloud
8.3.1 Need for Low-Cost Encryption and Authorization Solutions to Boost the Adoption of Cloud-Based Public Key Infrastructure Solutions

9 Public Key Infrastructure Market By Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Growing Need to Validate Identity of the Transactions Driving the Adoption of Public Key Infrastructure Solutions in BFSI
9.3 Government and Defense
9.3.1 Growing Necessity to Protect Sensitive Data of Citizens as Well as of Organizations From Unauthorised Access and Identity Thefts Driving the Adoption of Public Key Infrastructure Solutions in the Government and Defense Sector
9.4 Telecom and IT
9.4.1 Increasing Sophisticated Cyber-Attacks That Compromise Confidentiality of the End Customers as Well as Organizations to Boost the Demand for Public Key Infrastructure Solutions in Telecom and IT
9.5 Healthcare and Life Sciences
9.5.1 Growing Threats on Network and Endpoints, and Need to Comply to HIPAA Driving the Adoption of Public Key Infrastructure Solutions in Healthcare and Life Sciences
9.6 Retail and eCommerce
9.6.1 Growing Need to Adhere to PCI DSS and GDPR Compliances in the Advent of Impersonation Attacks on Cloud-Based Applications Driving the Demand for Public Key Infrastructure Solutions in Retail and eCommerce
9.7 Manufacturing and Automotive
9.7.1 Increasing Trend of Machine-To-Machine Systems, IoT, and Cloud-Based Services and Need to Protect Them Against Identity Thefts and Unauthorised Access Driving the Demand for Public Key Infrastructure Solutions in Manufacturing and Automotive
9.8 Education
9.8.1 Need to Secure the Critical Information and Infrastructure From Sophisticated Cyber Threats Driving the Adoption of Public Key Infrastructure Solutions in the Education Sector
9.9 Others

10 Public Key Infrastructure Market By Region

Company Profiles

  • ACTALIS
  • Comodo
  • DigiCert
  • ENIGMA
  • Emudhra
  • Entrust Datacard
  • Futurex
  • Gemalto
  • GlobalSign
  • HARICA
  • Nexus Group
  • SSL.Com
  • Securemetric
  • Verisign
  • WISeKey

For more information about this report visit https://www.researchandmarkets.com/r/q92jkd

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