Public Key Infrastructure (PKI) Market by Application, Drive Mechanism and Region Forecasts to 2023Information TechnologyUpdated on Jan 25, 2019 View more like this | Visit MONTCLAIR, NJ | Contact Ashish Sharma |
Market Highlights:
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.
This MRFR study presents a thorough analysis of the global public key infrastructure (PKI) market. The primary objective of the study is to deliver a market forecast until 2023. It also covers analysis of key trends that are expected to guide the market growth during the forecast period. In addition, major PKI technology trends are also mentioned in the research document. It also includes a discussion on different PKI solutions such as PIN authentication, enrolment services, self-registration, secure roaming and inventory of digital identities. Both cloud-based and on-premise PKI deployments have been considered for market sizing. Revenue analysis based on PKI end-users covers domains such as health and life sciences, manufacturing, BFSI, aerospace and defense, human resources, government, education, and retail.
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Major Key Players
- Comodo Group Inc.,
- DocuSign Inc,
- GoDaddy Inc.,
- Ascertia,
- Assa Abloy Group,
- GlobalSign,
- Gemalto NV,
- VeriSign Inc.,
- Lexmark International Inc.,
- Entrust Datacard Corporation,
According to MRFR, the global Public Key Infrastructure (PKI) Market stood at USD 639.12 Mn and is expected to witness a healthy growth during the review period (2018-2023). Intensifying cyber threat is a major concern worldwide, making PKI an important tool for information security.
Market Segmentation:
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.
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Intended Audience
- Training and education service providers
- Data integration service providers
- Banking and Insurance service providers
- Technology standards organizations
- Digital signature vendors
- Digital signature service providers
- Product manufacturers/ developers
- Consultancy firms/advisory firms
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY DEPLOYMENT, 2016-2023
TABLE 3 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY END-USERS, 2016-2023
TABLE 4 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET, BY REGION, 2016-2023
Continued………
List of Figures
FIGURE 1 GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET: MARKET STRUCTURE
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DROC ANALYSIS OF GLOBAL PUBLIC KEY INFRASTRUCTURE MARKET
FIGURE 4 DRIVER IMPACT ANALYSIS
Continued………
http://www.digitaljournal.com/pr/3816608
https://www.reuters.com/brandfeatures/venture-capital/article?id=49493
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