Public Key Infrastructure Market is expected to grow US$ 4.55 Billion by 2027 - Airbus S.A.S., Digicert, Emudhra, Enigma Systemy Ochrony Informacji, Entrust Datacard, Futurex, Gemalto, IBM, Microsoft and Securemetric
Europe was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. The growth and adoption in Europe is primarily driven by the growing demand of public key infrastructure technology from various industries such as BFSI, IT & telecom, and manufacturing & automotive, among others.
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Focus on investing in advanced technology across the globe
Enterprises and new developing markets are expected to invest in the technology market to build IT infrastructure that would help reduce costs and enhance business productivity. New emerging markets and economic growth and increasing demand from small and medium enterprises are anticipated to boost the technology industry. Public key infrastructure technology has become significant for various industries to work in a secure environment. Rising digitization and positive economic outlook are some of the major macroeconomic factors driving the growth of the public key infrastructure market. Public key infrastructure is turning more into the global business, and various large players can offer public key infrastructure solutions globally. Presently on a global scale, industry verticals such as BFSI, IT & telecom, retail & e-commerce, government and defense, manufacturing and automotive are the major contributors in public key infrastructure spending. PKI technology is gaining significance important in every region due to growing cyber-attacks. Hence, such significant growth is expected to offer ample growth opportunities for the global public key infrastructure market players during the forecast period of 2019 to 2027.
Increase in security platform fueling the overall growth in public key infrastructure market
Demand for security protocols to protect privacy, communication, information assets, and value exchange are increasing. Public key infrastructure is a technology driven solution which delivers an increased level of confidence to exchange information over the Internet through the use of public cryptographic key pairs. It is a system of technologies, processes, and policies that enables to encrypt data. Public key infrastructure solutions support security mechanisms such as integrity, confidentiality, and authentication. It is an essential component of an overall security strategy that works with other security mechanisms, business practices, and risk management efforts. Hence, such benefits of PKI technology is driving the global public key infrastructure market.
Furthermore, the demand for a public key infrastructure system is increasing across various sectors such as BFSI and IT and telecom. Numerous prominent market players are focusing on providing enhanced public key infrastructure solutions and services. The rising popularity of cloud-based solutions and changing IT infrastructure are the significant factors that are driving the growth of the global public key infrastructure market.
The global public key infrastructure market by component was led by service segment. Solutions segment held the second largest market in 2018, and is anticipated to increase its shares during the forecast period from 2019 – 2027.
Deployment Model Insights
The global public key infrastructure market by deployment model was led by on-premise segment. Cloud segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.
Enterprise Size Insights
The global public key infrastructure market by enterprise size was led by large enterprise segment. The benefits provided by public key infrastructure vendors are enough to attract large enterprises to integrate the public key infrastructure solution into their organizations.
The global public key infrastructure market is segmented by end-user as BFSI, retail and e-commerce, government and defense, it and telecom, manufacturing and automotive, and others. BFSI held the largest market in 2018 and are anticipated to continue its shares during the forecast period from 2019 – 2027.
The market players present in public key infrastructure market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name globally. Few of the recent developments are listed below;
2019: Entrust Datacard acquired nCipher Security, hales’s market-leading General Purpose Hardware Security Module (GP HSM) business. This acquisition enabled Entrust Datacard to extend its ability to provide its customers with a solution that meets the demand for high assurance use cases.
2018: Entrust Datacard acquired a Spain based firm Safelayer Secure Communications. With this acquisition, Entrust Datacard expanded its geographical footprints and strengthened its competencies in eIDAS.
2018: Gemalto, a global leader in digital security, ISARA Corp., the leading provider of quantum-safe security solutions, and DigiCert Inc., the world’s leading provider of scalable PKI solutions for identity and encryption entered into partnership to develop advanced quantum-safe digital certificates and secure key management for the Internet of Things (IoT).
Leading Public Key Infrastructure Market Players:
• Airbus S.A.S.
• Digicert Inc.
• Enigma Systemy Ochrony Informacji SP. Z O.O.
• Entrust Datacard Corporation
• Gemalto (Thales Group)
• IBM Corporation
• Microsoft Corporation
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Key Elements that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the Public Key Infrastructure Market.
• Key market trends cracking up the growth of the Public Key Infrastructure Market.
• Challenges to market growth.
• Key vendors of Public Key Infrastructure Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Public Key Infrastructure Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.
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