Digital Certificates and Public Key Infrastructure Market: Demand for Software Solutions to Drive Market

The global market for digital certificates and public key infrastructure has been witnessing a healthy rise, thanks to the improved operational efficiency at reduced costs and the enhanced security and controlled workflow associated with digital certificates and public key infrastructure.

Over the coming years, the global digital certificates and public key infrastructure market is likely to witness substantial rise, expanding at an exponential CAGR of 23.60% between 2017 and 2025. The opportunity in this market is projected to rise from US$1.95 bn in 2016 to US$12.90 bn by the end of 2025.

Although, the market’s future looks bright but the lack of awareness and technical competency linked with digital certificates may limit its growth over the next few years. The incompatibility among various formulation techniques, dearth of standardization, and the various ambiguities in regulations are also expected to deter the market from progressing steadily in the near future.

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Software Solutions to Continue Reporting Strong Demand

Hardware and software are the two main types of technical solutions provided in the worldwide digital certificates and public key infrastructure market. Software solutions, which provide content validation to the electronic documents, have been leading the global market and are expected to remain on the top over the forthcoming years. With the increasing uptake of such software solutions, this segment is anticipated to witness substantial growth in the near future, ensuring its dominance.

Digital certificates and public key infrastructure services are deployed predominantly on-premise or on cloud. Currently, on-premise deployment model is much popular than the cloud-based model. However, with the growing internet penetration, the letter, in which cloud-hosting signing services are utilized to sign the documents digitally, is expected to overtake the former over the forthcoming years.

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Continued Dominance of North America to be Witnessed in Future

North America, Asia Pacific, Europe, the Middle East and Africa, and South America are the prominent regional markets for digital certificates and public key infrastructure across the world. North America emerged as the dominant regional market among these in 2016 with a contribution of US$678.8 mn to the overall revenue generated in this market that year. Researchers expect this regional market to continue its dominance over the next few years.

Among other regional markets, Europe is expected to witness a significantly higher progress in terms of size as well as revenue over the forthcoming years, thanks to the rising number of certificate authorities and the growing Internet penetration in this region.

GMO GlobalSign Inc., GoDaddy Group, Verisign Inc., Gemalto N.V., Comodo Group Inc., Signix Inc., Ascertia, Secured Signing Ltd., Docusign Inc., Identrust Inc., Kofax Ltd., Entrust Datacard Corp. are some of the key players operating in the global digital certificates and public key infrastructure market.

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This release was published on openPR.