Public Key Infrastructure Market Is Predicted to Grow At More Than 20% CAGR From 2023 To 2032

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Public Key Infrastructure Market Trends, Analysis
Forecast, 2032
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• Industry Insights

• As per a recent research report, Global Public
  Key Infrastructure Market share is likely to
  surpass USD 20 Bn valuation by 2032.
• Global Public Key Infrastructure (PKI) Market
  share is expected to grow substantially through
  2032 due to the increasing concerns related to
  safeguarding intellectual property assets.
• To protect their Intellectual Property (IP)
  assets, such as design data and product
  development information, companies are putting
  more and more emphasis on using PKI. Unencrypted
  data can result in data leaks and thefts, putting
  financial pressure on businesses trying to
  resolve patent disputes.
• Prominent industry players are effortlessly
  working on introducing innovations in the market
  to gain a competitive edge over others. For
  instance, in May 2021, WISeKey collaborated with
  Ocean Protocol (Ocean), a decentralized exchange
  protocol that unlocks AI data, to develop
  TrustedNFT.io. The alliance enables WISeKey to
  increase its visibility in the NFT sector.

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• The public key infrastructure industry is
  segmented in terms of type, service, deployment
  model, organization size, application, and
  region.
• Based on service, the managed service segment is
  anticipated to propel at more than 27.5 CAGR
  from 2023 to 2032. Managed services minimize the
  need to deploy new software components and aid in
  the reduction of operational costs, thus driving
  the industry growth.
• With respect to organization size, the large
  enterprises segment is speculated to expand
  positively over the review years credited to the
  growing trend of Bring Your Own Devices (BYOD)
  among businesses. This increase in BYOD trends
  has supported the growing adoption of PKI
  solutions across large corporations.
• In terms of application, the BFSI segment is
  poised to garner sizeable growth through 2032
  fueled by the rise in data breaches and
  disclosures across the BFSI industry. Moreover,
  attacks on web application authentication systems
  by banking Trojan botnets would further stimulate
  the product demand.

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• Regional Analysis

North America PKI industry is projected to expand
at approximately 20 CAGR from 2023 to 2032.
Growing digitization has enabled businesses in
the region to improve the accessibility of their
resources. Major utility service providers are
utilizing IoT-based public-key encryption
technologies to secure their transactions,
thereby propelling the industry landscape.

• Competitive Analysis

• IBM Corporation, Securemetric, Ascertia, Comodo,
  DigiCert, Inc., Microsoft Corporation, Assa Abloy
  Group (HID Global), Verisign Inc., ACTALIS
  S.p.A., SSL, Inc., DocuSign Inc.

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