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Growth Trend, 2024-2037F
Cross Analysis of Component W.R.T End-User
Part 24
Cross Analysis of Component W.R.T End-User
Part 25
Cross Analysis of Component W.R.T End-User
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Cross Analysis of Component W.R.T End-User
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Cross Analysis of Component W.R.T End-User
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Cross Analysis of Component W.R.T End-User
Cross Analysis of Component W.R.T End-User
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Public Key Infrastructure Market is predicted to cross USD 61.3 Billion by the end of 2037, growing at over 20.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2024, the industry size of public key infrastructure is estimated at USD 5.3 Billion.
PKI is now widely used as a basic security solution due to growing worries about cybersecurity. It is being required by many businesses, including healthcare providers, and government organizations to protect patient privacy and safeguard confidential information within their networks. Over the following two years, the cost of cybercrime damage is anticipated to increase by 15% yearly, reaching USD 10.5 trillion by 2025.
Growing worries regarding data loss are expected to propel substantial expansion in the worldwide public key infrastructure market throughout the projected period. Strong data protection systems are more important than ever as both individuals and corporations struggle with more complex cyber threats. PKI provides an all-inclusive solution by protecting sensitive information, transactions, and communications through the use of cryptographic algorithms.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
20.7% |
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Base Year Market Size |
USD 5.3 billion |
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Forecast Year Market Size |
USD 61.3 billion |
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Regional Scope |
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Component (Hardware Security Module, Solution, Services)
Solution segment in the public key infrastructure market is projected to reach USD 39.2 Billion by 2037. Recent technological developments, such as the launch of an enhanced version of its flagship PKI Spotlight software in February 2024, are driving public key infrastructure (PKI) market growth for products like PKI Solutions, which has pioneered public key infrastructure technology.
This updated tool, which represents a significant advance in the management and security of digital certificates and keys, provides real-time monitoring and alerting capabilities specifically designed for PKI environments, including Microsoft PKI and various hardware security modules.
Deployment Mode (Cloud, On-premises)
In public key infrastructure market, on-premises segment is estimated to exceed USD 31.2 Billion by the end of 2037. As organizations recognize the benefits of fully controlling their resources in an IT infrastructure, on-premises segments are experiencing a growth trend across the PKI market.
With on-premise PKI, enterprises can configure their deployment according to their specific requirements and capacities to provide a unique solution that meets their particular needs.
Our in-depth analysis of the global market includes the following segments:
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Component |
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Deployment Mode |
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Enterprise Size |
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End User |
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North American Market Statistics
North America public key infrastructure market size is poised to exceed USD 21.4 Billion by 2037. PKI is being widely adopted in a variety of applications with the growing trend towards digital certificates in the region. To ensure that only trusted devices and users are connected to the network, digital certificate authentication helps different organizations.
In addition, digital certificates are widely used in SSL certificates for public-facing websites and services, VPN & Private Networks, Public Cloud Applications, Private Cloud Based Applications, or Code Signings among others.
The adoption of appropriate security solutions in the United States to protect data and prevent fraud due to the theft of credentials has become necessary for private and public organizations, with a growing frequency of cyber-attacks and technological progress.
PKI is used by the banking, healthcare, government, and e-commerce industries for data protection in Canada, to ensure security of communication as well as identity verification. The expansion of the PKI market is stimulated by the region's emphasis on data protection, as well as its presence of a large number of players.
Asia Pacific Excluding Japan Market Analysis
Public key infrastructure market size for Asia Pacific excluding Japan region is likely to cross USD 13.4 Billion by 2037. The growth in the sale of online products and services has been driven by an increase in consumer disposable income, as well as changes in their lifestyles and purchasing patterns.
Compared to brick-and-mortar shops, consumers are opting for online shopping because it offers an extensive range of products that save time and money. Moreover, the e-commerce sector is driven by an increase in Internet and mobile phone penetration. The adoption rate of smartphones across the Asia Pacific region rose to 76 percent by 2022, up from 64 percent last year.
They consist of various consumer data, including online transaction information, as logistics firms move goods from one place to another. To ensure that this data is protected, logistics operators are using public key infrastructures like regular key rotation and current cryptographic standards to increase demand for public key infrastructure solutions in the transport industry.
With the growing popularity of eSignatures and digital payment systems in India, robust security measures such as PKI are needed to safeguard customer data and ensure safe transactions in a fast-evolving Retail Industry.
With PKI's key role in the securement of financial transactions, protection of customer information, and compliance with legislation, a strong digitalization effort is underway in the banking sector across the China region. As organizations try to streamline their PKI operations, including the management of certificate lifecycles and key administration, there is a growing demand for meta-managed tools.
Author Credits: Abhishek Verma
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