2020 Public Key Infrastructure Market to Surge with 11.4% of CAGR by 2027 - Entrust Datacard Corporation, Futurex, Gemalto (Thales Group), IBM Corporation, Microsoft Corporation

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.

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.

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Public key infrastructure market in global is expected to grow from US$ 1.65 Bn in 2018 to US$ 4.55 Bn by the year 2027. This represents a CAGR of 11.4% from the year 2019 to 2027.

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.

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.

Strategic Insights -
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).

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