Public Key Infrastructure (PKI) Market Research Report-Forecast to 2027

Public Key Infrastructure Market By Solution (PIN Authentication, Enrollment Services, Inventory of Digital Identities, Secure Roaming, Self-Recovery, Self-Registration), Deployment (Cloud-Based, On-Premise), End-User (Aerospace and Defense, Health and Life Sciences, Human Resources, Manufacturing, Government, BFSI, Education, Retail, and Others) -Global Forecast to 2027

ID: MRFR/ICT/2438-CR | October, 2018 | Region : Global

Public Key Infrastructure Market Overview:


The public key infrastructure (pki) market is likely to experience good growth based on its market operations during the forecast period of 2021-2028. Public Key Infrastructure (PKI) Market size can expand at 21.12% CAGR over the forecast period (2018-2023), asserts Market Research Future (MRFR) in its latest report. It had a valuation of USD 639.12 Million in 2017. The main reason for the market to undergo such splendid growth is the increasing trust of both online sealers and customers alongside the increased malware and file-based attacks. Hence, these factors promise a good growth graph for the market operations during the forecast period that ends in 2028.


Pki can be understood as a security technology framework of both encryption and cybersecurity that helps in securing the communications between the server and clients.


Covid 19 Analysis:
The pandemic has introduced new struggles for the industry and business verticles and has urged the companies to come up with creative and innovative ideas to generate sales and revenue. The shift of online dependence for necessities to luxuries from the customers and target audience has initiated the development of infrastructure to maintain a proper flow of communication and meet the data safety and security standards. The government is imposing a lockdown which is pushing the people to opt for opting alternate methods to cater to their demand. The online modes require the target audience to fill in their details and establish communications whenever they seek assistance and help.


The government is investing in verticals and departments like research and development to come forward with solutions that act as a protective guide amongst the organizations and help them safeguard the interests, services, and data from malware and file-based attacks. Also, the market players are open to mergers and acquisitions. 


Public Key Infrastructure Market Dynamics
Drivers:
The private and public keys help in protecting the user’s information from tampering or threats related to theft. Also, the market operations help to achieve secure communication. The companies are aiming to adopt secure sockets layer (ssl) that uses the infrastructure for authentication and encryption.


Opportunities:
The technology functions by making use of 2 cryptographic keys which are public and private. For communication on the website, the public key has to be supplemented with the private one so that there is a development of trust from the party’s end. 


Technology Analysis:
Many certifications that have been issued by the authorities are trusted and can also help in the authentication of entities. The trust hierarchy that helps in issuing the digital certifications inclusive of various entities like root certificate authority, issuing certificate authorities, and intermediate certificate authorities. The solutions rendered by the market operations help in securing communications by encrypting the data flow and also ensure continuous compliance, as well. The market defines a proper set of roles, procedures, and policies that are used for the creation, distribution, and management of digital certifications and encryptions.


Study Objectives:



  • to examine the viewpoints of various industry experts and leaders and calculate compound annual growth rate and market growth rate by the end of the global forecast in 2028.

  • to highlight a competitive market outlook and observe the yield models of key market players, worldwide.

  • to analyze the different market dynamics like trends, drivers, and restraints that are most likely to play a role in helping the market and its different segments growing in the domestic as well as international market.


Public Key Infrastructure Market Segment Overview:
Public key infrastructure (pki) market share is foreseen to witness significant growth owing to the performance of different market segments. Among these, the government segment will be the fastest-growing and also be responsible for the growth of this market more than any other segment. The reason for this is the high demand for security to protect highly sensitive government information. Also, the aerospace and defense segment will witness significant growth during the assessment period. The bfsi segment is anticipated to expand at the highest cagr growth of 23.84% among the end-users segment as this sector handles high volumes of sensitive data. If we look at the deployment segment then the adoption rate of cloud-based deployment is much higher than on-premise deployment due to more scalability of this platform and more cost-effectiveness. For magnifying use the market has been segmented into the following on different bases:

Based on the solution, it has secure roaming, self-registration, enrolment of services, pin authentication, and inventory of digital identities.


Based on deployment, it has on-premise and cloud-based.


Based on end-user, it has bfsi, retail, manufacturing, education, government, human resources, health and life sciences, aerospace and defense, and others.


Public Key Infrastructure Regional Analysis:
The public key infrastructure (pki) industry movement is remarkably working in 4 major regions of the world that is north america, asia pacific, europe, and the rest of the world. Among all these regions, the north american region will dominate this market, and the reason attributed to it is the high use of public key infrastructure (pki) solutions by the government sector of this region. Also most of the key players of this market such as verisign inc., comodo group inc., international business machines corporation, microsoft corporation, etc. Are established and present in this region which is another factor that will enhance the expansion of this market. The north american region is expected to grow at 20.71% during the assessment period. In addition to this, north america was valued at usd 239. 7 million in 2017 and is foreseen to be valued at usd 530 million by the end of the forecast period. Asia pacific region will be the second-largest market and will grow with the highest cagr of 23.38% during the evaluation period. China will be accounted for the largest market share of this region valued at usd 378.6 million by the end of 2028 followed by japan and then india.


Competitive Landscape:
To get an extreme and profound idea about the public key infrastructure (pki) market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the world. The global market players are competing in the international markets with the help of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. The prime players of this market include:-



  • Verisign inc. (u.s.)

  • Comodo group inc. (u.s.)

  • Globalsign (belgium)

  • Assa abloy group (sweden)

  • Ascertia (u.s.)

  • Lexmark international inc. (u.s.)

  • Docusign inc (u.s.)

  • Signix (u.s.)

  • Godaddy inc. (u.s.)

  • Entrust datacard corporation (u.s.)

  • Gemalto nv (france)

  • Nexus group (sweden)

  • Digicert inc. (us)

  • Futurex (us)

  • Lobalsign (uk)

  • Wisekey (switzerland)

  • com (us)

  • Airbus s.a.s. (netherlands)

  • Emudhra (india)

  • Actalis (italy)

  • Harica (greece)

  • Securemetric (malaysia)

  • Enigma (poland)

  • Emudhra (india)

  • International business machines corporation (us)

  • Microsoft corporation (us)

  • Securemetric (malaysia)


Recent Developments:
The north american market is home to regions like the us and canada that are witnessing an early adoption of the market services and solutions which is being backed by the constant functioning of market vendors that help the market grow during the period that ends in 2028.


The bfsi market segment was known to hold the largest market share for the historic period that ended in 2019. Similar trends are expected to flow during the current forecast period of 2021-2028 for the market operations as this is the most targeted industry vertical. The widespread market dealing in large data volumes that are a combination of both private and sensitive financial data provides splendid opportunities for expansion, growth, and enhancement of the services belonging to the global market.

The apac region of the market is aiming for developing a huge demand for pki solutions that ensure a high degree of irreversible security. The market is home to an array of services provided by banks and other financial institutions and hence, the need is to comply with the emergence of security requirements that enhance the functioning of the global market operations.

Intended Audience:



  • Providers of public key infrastructure

  • Public key infrastructure companies

  • Cybersecurity providers

  • It enterprises

  • System integrators and third-party vendors

  • Government bodies

  • Technology investors  

  • Research institutes and organizations

  • Market research and consulting firms

  • End-users/enterprise-users

  • Managed service providers (msps)


Report Overview:
The public key infrastructure (pki) industry report presents a drift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report tells us about the impact of covid-19 on the key players of this market. The report makes us aware of the market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in this industry.

Public key infrastructure (PKI) is foundational, as it provides a framework for applications, policies, and practices which offer a number of security functions to help maintain the integrity of digital documents. The global public key infrastructure market was valued at USD 639.1 Mn in 2017 and is expected to register highly promising growth at a CAGR of 21.12% during the forecast period of 2018 to 2023. Increasing demand for encryption technology is expected to encourage market growth among other important factors. As such, the market's appreciation in value is expected to result in a market value of USD 1,987.1 Mn by the end of 2023.


Public key infrastructure solutions are highly scalable and offer improvement in operational efficiency which has increased its adoption significantly. PKI provides increased security via authentication & encryption processes which in turn provides cost avoidance and other benefits. Transaction security is increased which eliminated the need for mailing or faxing of signatures for the completion of official electronic transactions. As a result, there is a reduced need to store signatures on paper which leads to an overall reduction in operational costs. With the expansion of IT technology and the increasing adoption of cloud-based platforms, imminent threats are a strong factor which encourages the adoption of encryption technology. Security of information is in high demand, as is identity authentication, thus driving the demand for PKI solutions. Recognizing the efficiency with which fraud is being committed, the market has become highly competitive with a number of market players increasing their service offerings. Ongoing development of security solutions to put a damper on the increasing frequency of cyber-attacks will be another strong motivator of growth for the global public key infrastructure market.


Public key encryption is based on complex algorithms which can slow down processing speed when encrypting large volumes of data. Moreover, the deployment of PKI can add load on the network which poses a challenge to market growth. Technological advancements such as the advent of 5G and the rapid adoption IoT is expected to create a conducive environment for better data transfer, thus offering the market with significant potential for growth as IoT carried high risk. Demand for the security of connection between devices is anticipated to provide the market with ample opportunities.


The global public key infrastructure market is segmented on the basis of solution, deployment, end-users, and region. Solutions commonly employed in the public key infrastructure market include enrolment deployment, PIN authentication, secure roaming, inventory of digital identities, self-registration, and others.


Public key infrastructure is deployed on cloud-based and on-premise. The adoption rate of cloud-based deployments has been observed to be higher than on-premise due to the scalability that this platform offers as well as cost savings. The cloud-based platform is expected to retain its lead in the market while displaying the highest CAGR of 21.91% during the forecast period.


End-users of public key infrastructure include healthcare & life sciences, aerospace & defense, human resources, manufacturing, government, BFSI, retail, education & research, and others. The government segment followed by the aerospace & defense account for the most significant segments in the market due to the high requirement for security to protect sensitive government information. However, the BFSI sector is expected to grow at the highest CAGR of 23.84%, as this sector handles high volumes of sensitive data.     


Regional Analysis


North America leads the global market's growth and is closely followed by the Asia Pacific market in terms of market value. North America valued USD 239.7 Mn in 2017 and is expected to grow with an optimistic CAGR of 20.71% during the forecast period. The presence of several important market participants in the region combined with the high use of PKI solutions by the regions government sector is expected to drive the growth of the North American PKI market.


Asia Pacific is expected to grow at the highest CAGR of 23.38% during the forecast period. China accounts for the largest country-level market with a projected market value of USD 215.15 Mn by the end of 2023. Japan and India are other important country-level markets to watch out for during the assessment period.    


Competitive Tracking


Analysis of the competitive landscape in the report includes various prominent market participants such as Assa Abloy Group, SIGNiX, DocuSign Inc, Comodo Group Inc., Entrust Datacard Corporation, VeriSign Inc., Ascertia, Gemalto NV, GoDaddy Inc., GlobalSign, and Lexmark International Inc. These market players employ a number of growth strategies with the most significant players competing in terms of security, reliability, and service quality.

1 Market Introduction

1.1 Introduction 11

1.2 Scope Of The Study 11

1.3 List Of Assumptions 12

1.4 Market Structure 12

2 Research Methodology

2.1 Research Process 14

2.2 Forecast Model 18

3 Market Dynamics

3.1 Introduction 20

3.2 Drivers 21

3.2.1 Improved Operational Efficiency 21

3.2.2 Growing Concerns Of Information Security 21

3.3 Restraints 22

3.3.1 Low-Speed During Network Traffic 22

3.4 Opportunities 22

3.4.1 Rise Of Internet Of Things (IoT) 22

4 Executive Summary

5 Market Factor Analysis

5.1 Value Chain Analysis 26

5.1.1 Platform/ Architecture Developers 26

5.1.2 Solution Providers 26

5.1.3 Service Providers/ Certification Authorities 27

5.1.4 End-Users 27

5.2 Porter’s Five Forces Model 28

5.2.1 Threat Of New Entrants 28

5.2.2 Bargaining Power Of Suppliers 28

5.2.3 Bargaining Power Of Buyers 28

5.2.4 Threat Of Substitutes 29

5.2.5 Intensity Of Rivalry 29

6 Global Public Key Infrastructure Market, By Solution

6.1 Overview 31

6.1.1 PIN Authentication 31

6.1.2 Enrolment Services 31

6.1.3 Secure Roaming 31

6.1.4 Inventory Of Digital Identities 31

6.1.5 Self-Registration 32

7 Global Public Key Infrastructure Market, By Deployment

7.1 Overview 34

7.1.1 Cloud-Based 34

7.1.2 On-Premise 34

8 Global Public Key Infrastructure Market, By End-Users

8.1 Overview 37

8.1.1 Aerospace And Defense 37

8.1.2 Health And Life Sciences 37

8.1.3 Human Resources 37

8.1.4 Manufacturing 37

8.1.5 Government 38

8.1.6 BFSI 38

8.1.7 Education 38

8.1.8 Retail 38

8.1.9 Others 38

9 Global Public Key Infrastructure Market, By Region

9.1 Introduction 41

9.2 North America 42

9.2.1 US 44

9.2.2 Canada 45

9.2.3 Mexico 46

9.3 Europe 47

9.3.1 UK 50

9.3.2 Germany 51

9.3.3 France 52

9.3.4 Rest Of Europe 53

9.4 Asia-Pacific 54

9.4.1 China 57

9.4.2 Japan 58

9.4.3 India 59

9.4.4 Rest Of Asia-Pacific 60

9.5 Rest Of The World 61

9.5.1 The Middle East & Africa 64

9.5.2 Latin America 65

10 Competitive Landscape

10.1 Competitive Overview 67

11 Company Profiles

11.1 DocuSign Inc. 69

11.1.1 Company Overview 69

11.1.2 Financial Performance 69

11.1.3 Products/Services/Solutions Offerings 69

11.1.4 Key Developments 70

11.1.5 Key Strategy 70

11.2 SIGNiX 71

11.2.1 Company Overview 71

11.2.2 Products/Services/Solutions Offerings 71

11.2.3 Key Developments 71

11.3 Gemalto NV 72

11.3.1 Company Overview 72

11.3.2 Financial Performance 72

11.3.3 Products/Services/Solutions Offerings 73

11.3.4 Key Developments 73

11.3.5 SWOT Analysis 73

11.3.6 Key Strategy 73

11.4 VeriSign Inc. 74

11.4.1 Company Overview 74

11.4.2 Financial Performance 74

11.4.3 Products/Services/Solutions Offerings 75

11.4.4 SWOT Analysis 75

11.5 Comodo Group Inc. 76

11.5.1 Company Overview 76

11.5.2 Products/Services/Solutions Offerings 76

11.5.3 Key Developments 76

11.6 Lexmark International Inc. 77

11.6.1 Company Overview 77

11.6.2 Products/Services/Solutions Offerings 77

11.6.3 Key Developments 77

11.6.4 Key Strategy 77

11.7 GoDaddy Inc. 78

11.7.1 Company Overview 78

11.7.2 Financial Overview 78

11.7.3 Products/Services/Solutions Offerings 79

11.7.4 Key Developments 79

11.7.5 SWOT Analysis 79

11.7.6 Key Strategy 79

11.8 GlobalSign 80

11.8.1 Company Overview 80

11.8.2 Products/Services/Solutions Offerings 80

11.8.3 Key Developments 80

11.8.4 Key Strategy 81

11.9 Ascertia 82

11.9.1 Company Overview 82

11.9.2 Products/Services/Solutions Offerings 82

11.9.3 Key Developments 82

11.10 Entrust Datacard Corporation 83

11.10.1 Company Overview 83

11.10.2 Products/Services/Solutions Offerings 83

11.10.3 Key Developments 83

11.10.4 Key Strategy 83

11.11 Assa Abloy Group 84

11.11.1 Company Overview 84

11.11.2 Financial Overview 84

11.11.3 Products/Services/Solutions Offerings 85

11.11.4 SWOT Analysis 85

11.11.5 Key Strategy 85


12 List Of Tables

TABLE 1 LIST OF ASSUMPTIONS 12

TABLE 2 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 35

TABLE 3 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 39

TABLE 4 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY REGION, 2020-2027 (USD MILLION) 41

TABLE 5 NORTH AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020- 2027 (USD MILLION) 42

TABLE 6 NORTH AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 43

TABLE 7 NORTH AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 43

TABLE 8 US: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 44

TABLE 9 US: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 44

TABLE 10 CANADA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 45

TABLE 11 CANADA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 45

TABLE 12 MEXICO: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 46

TABLE 13 MEXICO: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 46

TABLE 14 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020- 2027 (USD MILLION) 47

TABLE 15 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 48

TABLE 16 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 49

TABLE 17 UK: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 50

TABLE 18 UK: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 50

TABLE 19 GERMANY: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 51

TABLE 20 GERMANY: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 51

TABLE 21 FRANCE: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 52

TABLE 22 FRANCE: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 52

TABLE 23 REST OF EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 53

TABLE 24 REST OF EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 53

TABLE 25 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020- 2027 (USD MILLION) 54

TABLE 26 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 55

TABLE 27 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 56

TABLE 28 CHINA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 57

TABLE 29 CHINA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 57

TABLE 30 JAPAN: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 58

TABLE 31 JAPAN: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 58

TABLE 32 INDIA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 59

TABLE 33 INDIA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 59

TABLE 34 REST OF ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 60

TABLE 35 REST OF ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 60

TABLE 36 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020- 2027 (USD MILLION) 61

TABLE 37 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 62

TABLE 38 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 63

TABLE 39 THE MIDDLE EAST & AFRICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 64

TABLE 40 THE MIDDLE EAST & AFRICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 64

TABLE 41 LATIN AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020-2027 (USD MILLION) 65

TABLE 42 LATIN AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020-2027 (USD MILLION) 65

13 List Of Figures

FIGURE 1 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET: MARKET STRUCTURE 12

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 17

FIGURE 3 DROC ANALYSIS OF GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET 20

FIGURE 4 DRIVER IMPACT ANALYSIS 21

FIGURE 5 VALUE CHAIN: PUBLIC KEY INFRASTRUCTURE MARKET 26

FIGURE 6 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET 28

FIGURE 7 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020 VS 2027 (USD MILLION) 35

FIGURE 8 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020 VS 2027 (USD MILLION) 39

FIGURE 9 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY REGION, 2020 VS 2027 (USD MILLION) 41

FIGURE 10 NORTH AMERICA PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020 VS 2027 (USD MILLION) 42

FIGURE 11 NORTH AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020 V/S 2027 (USD MILLION) 42

FIGURE 12 NORTH AMERICA: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020 V/S 2027 (USD MILLION) 43

FIGURE 13 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020 VS 2027 (USD MILLION) 47

FIGURE 14 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020 V/S 2027 (USD MILLION) 48

FIGURE 15 EUROPE: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020 V/S 2027 (USD MILLION) 48

FIGURE 16 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020 VS 2027 (USD MILLION) 54

FIGURE 17 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020 V/S 2027 (USD MILLION) 55

FIGURE 18 ASIA-PACIFIC: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020 V/S 2027 (USD MILLION) 55

FIGURE 19 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY COUNTRY, 2020 VS 2027 (USD MILLION) 61

FIGURE 20 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2020 V/S 2027 (USD MILLION) 62

FIGURE 21 REST OF THE WORLD: PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2020 V/S 2027 (USD MILLION) 62

Public Key Infrastructure Market

The public key infrastructure ecosystem consists of various regional and local service providers that are evolving to enhance their market position. The growth of the service providers is dependent on the market conditions, government support, and industry development. It is important for the service providers to ensure secure electronic transfer of information and reduce on-going operational costs to maintain their market position and gain a competitive advantage. Thus, the service providers are focusing on research & development and product expansion and are improving operational efficiency to maintain their stronghold on the market


Service providers in the public key infrastructure market are focusing towards improving and expanding their services across the world. Entrust Datacard Corporation, Assa Abloy Group, GoDaddy Inc., VeriSign Inc., Gemalto NV among others are the major companies in the market, competing in terms of security, reliability, and service quality. Their primary focus is to upgrade the quality and diversify their value-added services on a regular basis to sustain the market. The major players have strengthened their presence worldwide through the acquisition of local and regional players for expanding their services. The improvement of the economic scenario combined with advances in technology in emerging economies like China, Japan, and South Korea, is likely to fuel the market growth and expand the public key infrastructure market.


Entrust Datacard Corporation held the highest share of 14.96% in 2017. Entrust Authority PKI enables encryption, digital signature and certificate authentication capabilities to be consistently and transparently applied across a broad range of applications and platforms. In May 2017, the company announced the release of Entrust Certificate Services 12.1. This updated version of the company’s certificate services allows the users to easily deploy, audit, manage and secure their full portfolio of digital certificates.


Assa Abloy AB held a share of 11.21% in 2017. Assa Abloy is advancing its digital workspace to enrich the user experience & secure enterprise processes and is focusing on improving its operational efficiency. The company acquired HID Corporation to leverage HID’s capabilities in the innovation and development of leading-edge technology to enhance its product portfolio. HID’s multi-factor PKI authentication combines two or more independent credential-based biometric verification to authorize access in a system using public-key encryption.


VeriSign Inc. held a share of 9.21% in 2017. VeriSign manages DNS infrastructure and is a provider of domain name service and secured internet to websites and enterprise across the globe. VeriSign is exploring new technologies to integrate them with their DNS Services. Recently, the company is working towards exploring blockchain technology to identify its potential for DNS security services.


GoDaddy Inc. held a share of 7.06% in 2017. The company is recognized as a web hosting company and provides a cloud-based web platform for small businesses, web design professionals, and individuals. GoDaddy launched TrustedSite, a new website security certification, to enable small businesses to protect their online customers better. Also, GoDaddy SSL Plans have integrated McAfee SECURE to scan and certify websites for free of cost. GoDaddy acquired Sucuri, a leading provider of website security products and services to offer business owners, a suite of security tools designed to protect their website.


DocuSign, Inc. is one of the prominent players in the public key infrastructure market, holding 5.57% share. DocuSign provides eIDAS compliant digital signature solution, including EU advanced and EU qualified signatures to businesses. Moreover, the company focuses on expanding its business by partnering and collaborating with other companies to provide better services to its customers. Recently, DocuSign acquired SpringCM, a sales software startup. This acquisition is expected to help DocuSign to expand its solution beyond e-signatures.


Although these players dominate the public key infrastructure market, other players including SIGNiX, Gemalto NV, Comodo Group, Inc., Lexmark International, Inc. also have a considerable presence in the market. These players focus on collaborating with other businesses with strong market presence to expand their market reach by diversifying their product portfolio.