Public Key Infrastructure (PKI) Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3727
Public Key Infrastructure (PKI) Market size will grow substantially in the next 6-7 years driven by growing digitalization, which is changing the way people managed their data. PKI is going to be the next step in the management and security of data. There are growth and increasing demand for electronic communication generated from the growing number of network activities such as e-commerce and internet banking. Identity security is the growing concern in such fields. For this purpose, these platforms have necessitated ID proof for the parties involved in the transaction. The PKI encrypts the data into large numerical values generated through software. This enhances the security of the information transferred and the identity of sender & receiver over the communication network.
The reduction in time required for the authentication processes and eventually reduction in operational cost will drive the public key infrastructure market. One of the very famous ways to authenticate activity or transaction is digital signature. PKI encrypts the digital signature into a very larger numeric value and this encrypted data is transferred over the network and decrypted at the receiver’s end. This system eliminates the extra charges required for the safety & security of data preservation and sending. Once the data is stored, it is encrypted and used wherever required, reducing human intervention and enhancing the security of data.
Public key infrastructure (PKI) is based on Digital Certificate application, which acts as a virtual identity proof. A digital certificate serves as a valid identification of data, software, and computer-related programs that may require identity proof. This type of digital certification can be assigned to an actual person or technology device. This system is usually used in data encryption of data and authentication of documents when they are sent by e-mail. They are also used in authentication during smart card login to identify the user by the application they are trying to access.
Public key infrastructure market can be fragmented based on solution, PIN authentication, secure roaming, self-registration, enrolment services, and inventory of digital identities. Digital identities are inimitable identifiers and specific patterns, which make it possible to detect a person or device. Such systems are often used by banks and websites to identify, track the activities of the users, and provide them customized services. Digital identity system rises from the use of personal information on the web. Digital identities are contextual in nature as any user can provide limited information while providing authentication information for any platform.
Based on deployment types, public key infrastructure (PKI) market can be segmented into two types, cloud-based and on premise. The cloud-based PKI system significantly reduces the burden of finance, resources, and time of individual organization by excluding the need for organizations to invest in setting any infrastructure. The service provider controls the maintenance of all ongoing operations while maintaining the availability & scalability of the service with hassle-free and efficient service.
North America is anticipated to have the largest industry share in the public key infrastructure market. Huge amounts of online banking transactions are carried out in this region and the growth the of e-commerce industry is also high. It also has stringent rules & regulations for data security regulations and compliances. The major public key infrastructure players are present in the region, which makes this region more suitable for the growth of the market.
Asia Pacific has a growing number of smartphones and more increasing adoption of technology, which is leading to the increased use of online banking and e-commerce. Organizations are adopting PKI solutions for ensuring the security of their sensitive data. The growing number of industries, banking systems automation, online traffic, and government initiatives for digitalization will fuel the public key infrastructure market.
The key players in the public key infrastructure market are Gemalto, Nexus Group, Verisign, Entrust Datacard, DigiCert, Futurex, Comodo, GlobalSign, WISeKey, SSL.com, ACTALIS, HARICA, Securemetric, ENIGMA, and eMudhra.
Public Key Infrastructure (PKI) Market, By Solution, 2014-2025 (USD Million)
- Enrolment service
- PIN authentication
- Inventory of digital identities
- Secure roaming
Public Key Infrastructure (PKI) Market, By Deployment, 2014-2025 (USD Million)
- On premise
Public Key Infrastructure (PKI) Market, By Application, 2014-2025 (USD Million)
- Healthcare and Life Science
- Aerospace and Defense
- Human Resource
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Entrust Datacard
- Nexus Group
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