Huge Revenue Explosion Expected in Global Certificate Authority Market From 2019 to 2030

The global certificate authority market generated a revenue of $81.7 million in 2019 and is predicted to attain a value of $285.7 million in 2030, exhibiting a CAGR of 12.3% between 2020 and 2030. The key factors fueling the advancement of the market are the rising public awareness about protected and secure web access, increasing penetration of the internet, surging number of transactions that require authentication and a secure connection, and the growing requirement for creating trust among online customers.

Besides the aforementioned factors, the thriving e-commerce industry, the increasing digitization in the banking, financial services, and insurance (BFSI) industry, growing utilization of online documentation, and the soaring security requirements are also propelling the expansion of the market. With the booming online customer base in several countries, the requirement for secure services and transactions is rising rapidly. Moreover, businesses these days are focusing more on improving customer trust in their brands, in order to attain higher customer engagement.

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Customers nowadays have a wide range of options, with regards to products and services, to choose from, owing to which, it is extremely necessary for companies to build customer trust and loyalty and improve their query resolution processes. Apart from this, it is also very important for businesses to enhance the security of their websites in order to establish trust with customers. As a result, many companies are increasingly using SSL certificates, which authenticate the identity of their websites.

The certificate authority market is divided, under the end user segment, into BFSI, IT and telecommunications, government, retail and consumer goods, education, healthcare, and travel and hospital categories. Amongst these, the healthcare category is predicted to demonstrate the highest growth rate in the market in the future years. In healthcare facilities such as clinics and hospitals, vast amounts of sensitive and confidential data are stored, which makes the adoption of digital certificates absolutely necessary for healthcare websites.

Besides enhancing the security of the website, digital certificates such as SSL certificates ensure that the website gets a good search engine ranking, which makes it easily discoverable through organic search. The market is also categorized, on the basis of component, into service and certificate type. Of these, the certificate type category recorded higher growth in the market in the years gone by, as per the findings of P&S Intelligence, a market research company based in India.

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Globally, the Asia-Pacific (APAC) certificate authority market would exhibit the highest growth rate in the forthcoming years, according to the market research company, P&S Intelligence. This would be a result of the surging penetration of the IoT and the mushrooming online customer base. With the development of smart city infrastructure in several cities and the adoption of advanced technologies such as deep learning and next-generation industrial automation in business operations, the usage of IoT is growing rapidly in the region.

Thus, it can be said with certainty that the market would demonstrate huge growth across the world in the upcoming years, primarily because of the growing digitization of business operations in various industries and the increasing popularity of online transactions and other operations around the world.

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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

This release was published on openPR.