What Is Driving Global Public Key Infrastructure Market Growth in 2025: The Role of Cybercrime Escalation Is A Driving Force For PKI Market Expansion

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Public Key Infrastructure Market Size Growth Forecast: What to Expect by 2025?
The market size for public key infrastructure has expanded quickly in past years. It's expected to inflate from $4.6 billion in 2024 to $5.5 billion in 2025, with a compound annual growth rate (CAGR) of 19.8%. Factors such as security worries, regulation compliance, initiatives around digital transformation, e-commerce expansion, and increased interconnectedness have contributed to growth in the historical period.

How Will the Public Key Infrastructure Market Size Evolve and Grow by 2029?
Expectations suggest the public key infrastructure market will experience significant expansion in the coming years, with projections estimating its worth at $11.5 billion in 2029, representing a compound annual growth rate (CAGR) of 20.2%. Factors such as the spread of IoT, incorporation of blockchain, emphasis on user privacy, and the advent of quantum-safe cryptography are driving this expected growth during the forecast period. Noteworthy trends for the period include the use of blockchain for certificate transparency, the transition towards managed PKI services, the adoption of a zero trust security framework, improvements in certificate lifecycle management, and the need to meet regulatory compliance requirements.

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What Drivers Are Propelling the Growth of Public Key Infrastructure Market Forward?
The public key infrastructure market is seeing a surge in demand due to the escalating instances of cyber fraud. Cyber fraud is a deliberate act of hacking into someone's personal and financial data stored online. Public key infrastructure serves as a cybersecurity technology setup incorporating a hardware security module (HSM) for safeguarding and storing keys, a Root CA or Certification Authority for issuing digital certificates, and public key cryptographic keys for data encryption and cyber fraud prevention. According to the Internet Crime Report 2021 released by the Federal Bureau of Investigation, a domestic intelligence and security agency of the USA, in March 2023, the highest reported costs from to the IC3 in 2022, were from investment frauds. These complaints rose from $1.45 billion in the previous year to $3.31 billion in 2022, marking a 127% increase. Among these complaints, the ones related to cryptocurrency investment fraud witnessed a surge from $907 million in 2021 to $2.57 billion in 2022, signifying a rise of 183%. Therefore, the growth of the public key infrastructure market is fueled by the escalating incidents of cyber frauds.

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Which Emerging Trends Are Transforming the Public Key Infrastructure Market in 2025?
The trend of technological advancement is becoming increasingly popular in the public key infrastructure market. To maintain their market position, major players are prioritizing technological progress. For example, the Ethiopian government launched a Public Key Infrastructure (PKI) facility in September 2024, aimed at smoothing the data exchange element of the nation's digital public infrastructure (DPI). Encryption methods are used in the PKI, ensuring the secure and reliable transmission of digital data. It involves the use of hardware, software, professionals, and a legal structure to establish a robust ecosystem for the management of digital certificates and guaranteeing secure communications.

What Are the Key Segments in the Public Key Infrastructure Market?
The public key infrastructuremarket covered in this report is segmented -

1) By Component: Hardware Module, Solution, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Large Enterprises, Small And Medium Enterprise (SME)
4) By Vertical: BFSI, Government And Defense, IT And Telecom, Retail, Healthcare, Manufacturing, Other Verticals

Subsegments:
1) By Hardware Module: Hardware Security Modules (HSMs), Smart Cards, USB Tokens
2) By Solution: Certificate Authority (CA) Software, Registration Authority (RA) Software, Digital Signature Solutions, Public Key Management Solutions
3) By Services: Managed PKI Services, Consulting Services, Integration Services, Support And Maintenance Services

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Who Are the Key Players Shaping the Public Key Infrastructure Market's Competitive Landscape?
Major companies operating in the public key infrastructure market are DigiCert Inc., GlobalSign, Entrust, Thales Group, Sectigo, Identrust, Keyfactor, Amazon Web Services Inc. Microsoft Corporation, Venafi, Comodo, Broadcom Inc, International Business Machines Corporation, RSA Security, GoDaddy, Let's Encrypt, Trustwave, Infocert, QuoVadis, Certum, Actalis, SafeNet, DigiCert TLS, Certigo, SecureTrust, E-CP, Buypass, Trustico, Gandi, NetLock

What Geographic Markets Are Powering Growth in the Public Key Infrastructure Market?
North America was the largest region in the public key infrastructure market share in 2024. The regions covered in the public key infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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