Work-from-home (WFH) models and customer acquisition through online platforms have helped a lot of businesses transition their operations to the online world. PKI identity management services have developed into a secure method of communicating encrypted messages and information to users. This has opened up some enticing prospects for growth in the international DC and PKI markets.
A significant number of companies moved their operations to an online mode by utilizing the work-from-home (WFH) model and expanding their customer base through the use of online platforms. PKI identity management services have developed into a secure method of communicating encrypted messages and information to users. This has created promising expansion opportunities in the global DC and PKI market.
North America will dominate the DC and PKI Services Market
If we look at the global market for digital certificates and private key infrastructure from a more macro perspective, we can see that North America holds the largest share of the market in terms of annual revenue generated. Because the United States and Canada were early adopters of digital infrastructure and had the highest number of people using the internet, this region is well positioned to maintain its dominant position in the global DC and PKI Market throughout the duration of the forecast period.
Asia-Pacific will see a stable growth rate in the DC and PKI Services market
In recent years, the Asia-Pacific region has emerged as a major draw for market participants who offer PKI user certificates. The higher growth rate in the use of PKI as a service in this region can be attributed, in large part, to the burgeoning information technology (IT) industries and the increased government spending on the strengthening of digital infrastructure in emerging economies.
The Government and Defense will dominate the DC and PKI Services Market
The defense sector contributes a mammoth portion of the total size of the worldwide DC and PKI market. However, the manufacturing sector is responsible for the highest volume of traffic on websites and portals, which further solidifies its position as an essential component of the international market.
During the period of time covered by the forecast, 2022-2029, it is anticipated that the market for DC and PKI will expand at a phenomenal compound annual growth rate of 21.4%. From a valuation of $ 5.3 billion in 2022, it is anticipated that this market will increase to a maximum of $25.76 billion by the year 2029.
The technological landscape of today is constantly shifting, which has resulted in a significant uptick in demand for digital authentication frameworks. PKI, also known as public key infrastructure, is the platform that issues digital certificates, also known as DC, to businesses that operate over the internet or communicate with their customers online.
Enterprises can take another step toward authenticating the information and protecting any sensitive and confidential data by implementing PKI for digital signatures. The implementation of PKI for the purpose of improving security has led to an increase in users' trust, which has resulted in an enormous demand for services of this kind across the world market.
As a result of the increasingly common occurrence of cyber-attacks in recent years, the use of public key encryption solutions has developed into an indispensable component of every online business. The avoidance of such occurrences and the safeguarding of sensitive data have been the primary driving forces behind the expansion of the DC and PKI markets, respectively.
A very competitive retail market has emerged in the modern world due to the proliferation of e-commerce websites across various online platforms. In light of such a predicament, the development of digital verification technologies has relieved the protection of customers' online assets and interests.
Many e-commerce websites have started using online messaging services to set up a direct communication channel with their customers. It has been projected in the report on market analysis that the market for public critical infrastructure will experience a significant expansion in the years to come as a direct result of the expanding volume of the market for online retail.
It is anticipated that during the forecast years of 2022 to 2029, an increase in the level of digital literacy and the number of people using the internet in developing countries will play an indirect role in the expansion of the global DC and PKI market. It is anticipated that the introduction of other digital technologies, such as the internet of things (IoT) and industrial internet of things (IIoT), will generate massive demand for public key infrastructure (PKI) in IoT, which will further expand the global market for public key infrastructure.
In the global market for DC and PKI Services, some of the most important players include the Comodo Group, Ascertia, Thales Group, Kofax Limited, Go Daddy group, Identrust, Secured Signing Limited, Docusing, GMO Global Sign, Signix, and Entrust Datacard Corporation.
- DigCert was chosen in May 2021 by Telecom Infra Project, also known as TIP, to provide public key infrastructure (PKI)-based security services for its open Wi-Fi platforms. An automated digital certificate management program that has a high degree of scalability is provided by the PKI in IoT that was built on the Digicert ONE platform.
- A new version of the Key Manager Plus solution, which was developed by ManageEngine and is used for the management of digital certificates and end-to-end encryption, was released in May of 2021 with additional features. Active Directory PKI infrastructure and AD synchronization for multiple domains are two of the new features made available by these updates.
- In May 2021, AppViewX and Ingram Micro of the United States worked together to increase awareness about the latter company's Certificate Lifecycle Management Solutions in the local market. Alongside this development, another channel partner program known as AppliedXpert was initiated at the same time.
DC and PKI Services Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||$ 25.76 billion|
|Growth Rate||CAGR of 21.4% during 2021-2029|
|Segment Covered||By Type, By End-User, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Comodo Group, Ascertia, Thales Group, Kofax Limited, Go Daddy group, Identrust, Secured Signing Limited, Docusing, GMO Global Sign, Signix, and Entrust Datacard Corporation|
Key segments in ‘Global DC and PKI Services Market’
By Type, 2019-2029 (USD Billion)
By End-User, 2019-2029 (USD Billion)
- Small and Medium Enterprises
- Large Enterprises
By Application, 2019-2029 (USD Billion)
- Real Estate
- Human Resources
- Education and Research
By region, 2019-2029 (USD Billion)
- North America
- The United States of America
- The United Kingdom
- South Korea
- South America