Public Key Infrastructure Market Recent Trends, Growth Outlook, Size, Share, Advance Technology And Forecast - 2028

Public Key Infrastructure (PKI) Market by Component (HSM, Solutions, and Services), Deployment Mode (On-premises and Cloud), Organization Size, Vertical (BFSI, Healthcare, IT and Telecom), Application Region - Global Forecast to 2028
The global public key infrastructure (PKI) market [https://www.marketsandmarkets.com/Market-Reports/public-key-infrastructure-market-145372975.html?utm_campaign=public-key-infrastructure-market&utm_source=abnewswire.com&utm_medium=paidpr] is valued at approximately USD 5.5 billion in 2023 and is expected to grow to USD 13.8 billion by 2028, registering a CAGR of 20.2% during the forecast period.

The accelerating pace of digital transformation and the growing dependence on secure online transactions are key factors driving the strong expansion of the PKI market. As businesses and individuals increasingly engage in digital activities-ranging from e-commerce and online banking to remote work and IoT applications-the need for robust encryption, secure authentication, and trusted digital identities has risen significantly.

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PKI technology serves as a foundation for establishing trust in digital interactions, ensuring data integrity, and protecting against cyber threats. Its critical role in strengthening cybersecurity and safeguarding sensitive information makes PKI a fundamental component of modern digital ecosystems. As digitalization continues to evolve, the importance of PKI in securing online communications and transactions is expected to grow even further.

The PKI market is being propelled by a convergence of factors in today's digitally connected world. The escalating volume and complexity of cyberattacks have made robust security a paramount concern for organizations, prompting increased demand for PKI's encryption, authentication, and digital signature capabilities. Secondly, regulatory compliance requirements, such as GDPR and HIPAA, mandate secure data handling and encryption, compelling organizations to adopt PKI solutions. The rise of digital transformation initiatives, remote work, and the Internet of Things further fuel the need for PKI to safeguard digital interactions, protect sensitive data, and establish trust in online transactions. As the digital landscape continues to expand and evolve, PKI remains the linchpin for ensuring cybersecurity, making it a pivotal driver in the cybersecurity market.

By offering, the services segment to register the highest growth rate during the forecast period

The services segment of the PKI market is poised to register the highest growth rate during the forecast period, underlining the critical role of expert services in enabling organizations to harness the full potential of PKI solutions. Implementing and managing PKI can be complex, involving intricate cryptographic processes and security considerations. As cybersecurity threats evolve, organizations recognize the need for specialized expertise in securing digital identities and data. PKI service providers offer invaluable support, consultation, and implementation services to ensure a seamless and secure PKI deployment. Their role extends to customizing PKI solutions to align with the unique infrastructure of each organization, integrating PKI seamlessly into existing systems, and providing managed PKI services to streamline certificate management. Furthermore, PKI service providers play a vital role in ensuring compliance with stringent regulatory standards and industry best practices. Their training and support services empower organizations to maximize the benefits of PKI while maintaining the highest levels of security.

Based on vertical, the healthcare segment is to grow at the highest CAGR during the forecast period

The healthcare sector is poised to experience the highest compound annual growth rate within the PKI market during the forecast period, signaling a significant shift towards robust security and digital trust solutions. Several key factors contribute to this remarkable growth trajectory. The healthcare sector deals with highly sensitive patient data, making data security and patient privacy paramount concerns. PKI's encryption and authentication capabilities provide a robust framework for safeguarding electronic health records, ensuring the integrity of medical data, and enabling secure sharing of patient information among healthcare providers. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare services. The need for secure and trusted digital identities and communications has surged as the healthcare industry increasingly relies on digital platforms for remote consultations, diagnosis, and patient monitoring. PKI plays a pivotal role in enabling secure telehealth services, ensuring that patient data remains confidential and unaltered during remote interactions.

North America to hold the largest market share during the forecast period.

North America holds the largest market share during the forecast period in the PKI market, underscoring the region's strong emphasis on cybersecurity, digital innovation, and regulatory compliance. North America is home to many enterprises, financial institutions, healthcare organizations, and government agencies, all of which rely heavily on robust cybersecurity solutions like PKI to protect sensitive data and ensure secure online transactions. The region's recognition of PKI as a fundamental element of cybersecurity strategy drives its substantial market share. The United States, in particular, has a highly developed cybersecurity ecosystem, with numerous cybersecurity companies, research institutions, and government initiatives focused on enhancing digital security. This environment fosters innovation and adoption of advanced PKI solutions to address emerging threats.

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Unique Features in the Public Key Infrastructure Market

PKI leverages advanced cryptographic techniques to enable secure communication over digital networks. By using asymmetric encryption with public and private key pairs, it ensures data confidentiality, integrity, and authenticity, making it a critical security framework for businesses and individuals.

PKI provides digital certificates issued by trusted Certificate Authorities (CAs) to authenticate users, devices, and applications. These certificates establish trust in online transactions, ensuring that the communicating parties are legitimate and preventing identity fraud.

Modern PKI solutions are designed to be highly scalable, accommodating organizations of all sizes. Businesses can deploy PKI in various models, including on-premises, cloud-based, and hybrid environments, depending on their security and compliance needs.

With the proliferation of IoT devices, PKI plays a crucial role in securing machine-to-machine communication by authenticating devices, encrypting data transfers, and preventing unauthorized access. It also extends to other emerging technologies, such as blockchain and AI-driven security solutions.

PKI helps organizations comply with global cybersecurity regulations and data protection laws, such as GDPR, HIPAA, and PCI DSS. By enabling strong encryption and identity verification, PKI ensures secure transactions and safeguards sensitive information.

Major Highlights of the Public Key Infrastructure Market

As businesses and individuals rely more on digital transactions, online banking, e-commerce, and remote work, the need for PKI-based encryption and authentication solutions has surged. PKI plays a critical role in ensuring secure and trusted online interactions.

With the rapid expansion of IoT devices and cloud computing, PKI is essential for securing machine-to-machine communication, preventing unauthorized access, and encrypting sensitive data in cloud-based environments.

Organizations are increasingly adopting Zero Trust security frameworks, where PKI serves as a fundamental component for identity authentication, access control, and secure communication between users, devices, and applications.

PKI solutions help organizations meet stringent data security and privacy regulations such as GDPR, HIPAA, PCI DSS, and SOC 2. Ensuring compliance with these standards has become a key driver for PKI adoption across industries.

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Top Companies in the Public Key Infrastructure Market

The major players in the public key infrastructure market are Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US).

THALES GROUP:

Thales Group is a prominent player in the PKI market and is known for its strong presence in the field of cybersecurity and digital trust solutions. Thales offers a wide range of PKI-based products and services designed to address organizations' complex security challenges in the digital age. Their offerings include hardware security modules that play a critical role in securing cryptographic keys, digital certificates, and sensitive data. Thales HSMs are widely used for PKI applications, ensuring the protection of private keys and enabling secure authentication and encryption. Thales also provides digital certificate issuance and management solutions, fundamental to establishing trust in online transactions and communications. These solutions help organizations securely manage digital identities and ensure the integrity of data exchanged over the internet. Thales Group's expertise extends to secure communication, access management, and identity verification, all of which are integral to PKI-based security solutions. With a focus on innovation and a strong commitment to cybersecurity, Thales is well-positioned to address the evolving needs of organizations in the PKI market and contribute to enhancing digital security and trust globally.

ENTRUST DATACARD:

Entrust Datacard is a recognized player in the PKI market, specializing in providing trusted identity and secure issuance solutions. The company offers a range of PKI-based products and services that enhance digital security and enable trusted online interactions. Entrust Datacard's offerings include digital certificate solutions, which are crucial for establishing trust in digital transactions, securing communications, and authenticating users and devices. Their PKI solutions support various industries, including financial services, healthcare, and government. One of Entrust Datacard's notable strengths lies in its identity and access management solutions, which incorporate PKI technology to ensure secure access control and identity verification. These solutions help organizations safeguard their digital assets, protect sensitive data, and meet regulatory compliance requirements. Entrust Datacard's expertise also extends to secure card issuance, which plays a vital role in PKI applications, such as the issuance of smart cards and identity credentials. These cards are commonly used for physical and logical access control, as well as digital signing and authentication. With a focus on innovation and a commitment to providing robust PKI-based security solutions, Entrust Datacard contributes significantly to the PKI market's growth and the overall enhancement of cybersecurity in various sectors. Their comprehensive portfolio of products and services helps organizations build trust in the digital realm and securely manage identities and access in an increasingly connected world.

DIGICERT:

DigiCert is a well-established and influential player in the PKI market, specializing in digital security solutions that facilitate trust and secure online interactions. The company is recognized for its comprehensive range of PKI-based products and services, which ensure the integrity and authenticity of digital communications and transactions. DigiCert's core offerings include digital certificate solutions, fundamental to establishing trust in the digital world. Their SSL/TLS certificates are widely used to encrypt data transmitted between web browsers and servers, safeguarding sensitive information during online interactions and e-commerce transactions. Additionally, DigiCert provides code signing certificates, email certificates, and document signing certificates, among others, for various use cases. One of DigiCert's notable strengths lies in its focus on security innovation. The company actively researches and develops to address emerging cybersecurity threats and provide advanced encryption and authentication solutions. Their commitment to staying at the forefront of technology ensures their PKI offerings remain relevant in an ever-evolving threat landscape. DigiCert also offers managed PKI services, which assist organizations in securely managing digital certificates and keys. These services simplify certificate issuance, renewal, and lifecycle management, reducing the administrative burden on organizations. DigiCert is a prominent Certificate Authority and actively participates in industry efforts to enhance security and standards compliance, such as Certificate Transparency and initiatives to improve certificate issuance practices. With its strong reputation for security, innovation, and industry collaboration, DigiCert plays a pivotal role in the PKI market, helping organizations across various sectors maintain trust, security, and data integrity in their digital interactions.

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