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Soaring Demand Set to Propel Certificate Lifecycle Management Software Market to $9.8 Billion by 2029
Certificate Lifecycle Management Software Market
Certificate Lifecycle Management Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size of the certificate lifecycle management software has seen substantial growth. This is expected to continue, with projections showing a rise from 2024's $4.42 billion to $5.23 billion in 2025, representing a compound annual growth rate (CAGR) of 18.3%. The historic growth has been driven by a combination of factors such as the multiplied intricacy and risks in digital identities, secure communication, the need to prevent certificate expiration, the automation of certificate creation, and the use of on-premises solutions.
Certificate Lifecycle Management Software Market Size Forecast: What's the Projected Valuation by 2029?
The market size for certificate lifecycle management software is set to experience swift expansion in the coming years, with a projected value of $9.8 billion in 2029 and a compound annual growth rate (CAGR) of 17.0%. The upcoming growth can be linked to a higher utilization of IoT devices, increasing complexity of cyber threats, a shift towards zero trust security models, adherence to compliance and data privacy regulations, and an escalating need for identity and access management (IAM) solutions. Key trends during the projected period include a rise in the adoption of cloud-based solutions, an intensified concentration on regulatory compliance, the usage of AI and ML for threat detection, the growth of IoT which necessitates comprehensive management, a spike in demand for hybrid deployment models, and a focus on user-friendly interfaces to facilitate streamlined processes.
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What Are the Drivers Transforming the Certificate Lifecycle Management Software Market?
The expansion of the certificate lifecycle management software market is projected to be driven by the rising adoption of cloud computing. Cloud computing involves the use of remote servers and computing infrastructure provided by third parties to deliver, access, and manage services, applications, or resources over the internet. The increasing use of cloud-based solutions is mainly due to the advantages they offer to businesses like scalability, accessibility, and security. Certificate lifecycle management software streamlines the rollout of digital certificates, guaranteeing effective allocation across a range of cloud settings as needed. For instance, data from Eurostat, an intergovernmental organization based in Luxembourg, showed that 45.2% of EU companies invested in cloud computing services in December 2023 - mainly for hosting their email systems and storing electronic files. There was a 4.2% rise in cloud computing service purchases by EU companies in 2023 compared to 2021. Consequently, the growing use of cloud computing services is fuelling the expansion of the certificate lifecycle management software market.
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What Long-Term Trends Will Define the Future of the Certificate Lifecycle Management Software Market?
Leading firms in the certificate lifecycle management software market are pioneering advanced technology, such as automated certificate lifecycle management tools, to secure a competitive advantage. An automated certificate lifecycle management tool is an all-encompassing software platform or assortment of devices engineered to modernize and automate digital certificate handling within a company. In October 2023, for example, AppViewX, a software enterprise based in the US, unveiled AppViewX KUBE+, an automated certificate lifecycle management service specifically for the Kubernetes environment. It offers comprehensive certificate visibility, full automation, and policy control, thereby simplifying the process of managing certificate lifecycles and ensuring containerized workloads are secure at scale, while facilitating the pace and flexibility of DevOps. This service decreases application interruptions, service discontinuations, and security and compliance problems by tackling operational and security issues of certificate management in intricate Kubernetes environments.
Which Segments in the Certificate Lifecycle Management Software Market Offer the Most Profit Potential?
The certificate lifecycle management softwaremarket covered in this report is segmented -
1) By Certificate Type: Secure Sockets Layer (SSL) Or Transport Layer Security (TLS) Certificates, Code Signing Certificates, Email Certificates, Client Certificates
2) By Deployment Model: On-Premises, Cloud-Based
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
4) By Vertical Industry: Finance, Healthcare, Government, Information Technology (IT) and Telecom, Manufacturing
Subsegments:
1) By Secure Sockets Layer (SSL) Or Transport Layer Security (TLS) Certificates: Domain Validated (DV) SSL Or TLS Certificates, Organization Validated (OV) SSL Or TLS Certificates, Extended Validation (EV) SSL Or TLS Certificates
2) By Code Signing Certificates: Individual Code Signing Certificates, Enterprise Code Signing Certificates
3) By Email Certificates: Secure Or Encrypted Email Certificates (S Or MIME), Digital Signature Email Certificates
4) By Client Certificates: Authentication Certificates, Identity And Access Management (IAM) Certificates
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Which Firms Dominate the Certificate Lifecycle Management Software Market by Market Share and Revenue in 2025?
Major companies operating in the certificate lifecycle management software market are Red Hat Inc., Micro Focus International plc, ManageEngine, Entrust Corporation, CyberArk Software Ltd., HashiCorp Inc., DigiCert Inc., Nexus AG, Trustwave Holdings Inc., GlobalSign Inc., AppViewX Inc., Venafi Inc., One Identity LLC, Censys Inc., Sectigo Limited, Futurex LP, Keyfactor LLC, PKWARE Inc., Ubisecure Oy, QuoVadis Limited, PrimeKey Solutions AB, Xolphin B.V., Versasec AB
Which Regions Offer the Highest Growth Potential in the Certificate Lifecycle Management Software Market?
North America was the largest region in the certificate lifecycle management software market in 2024. The regions covered in the certificate lifecycle management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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