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Public Key Infrastructure (PKI) Market Size

  • Report ID: GMI3727
  • Published Date: Nov 2022
  • Report Format: PDF
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Public Key Infrastructure Market Size

Public Key Infrastructure Market size surpassed USD 3 billion in 2022 and is anticipated to grow at around 20% CAGR from 2023 to 2032.

 

Surging data storage and transmission operations have proliferated the demand for public key infrastructure. Many small and medium-sized enterprises are increasingly transitioning from on-premises infrastructure to cloud platforms to cut down on operational costs and elevate return on investments. Thus, the risk of data theft and unauthorized access to data has impelled the demand for encryption of digital information stored on cloud platforms, which is foreseen to drive the PKI market expansion.

 

Public Key Infrastructure Market

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Moreover, in recent years, Bring Your Own Devices (BYOD) has become a prominent policy in enterprises to increase firm agility. PKI solutions secure data on employee devices and provide security over passwords and biometric authentication. Leading enterprises, including Google, Facebook, Twitter, and more, are extensively using advanced encryption solutions to secure employee devices, thereby augmenting the market scenario.

Public Key Infrastructure (PKI) Market Report Attributes
Report Attribute Details
Base Year:2022
Public Key Infrastructure (PKI) Market Size in 2022:USD 3 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:20%
2032 Value Projection:USD 20 Billion
Historical Data for:2018 to 2022
No. of Pages:200
Tables, Charts & Figures:428
Segments covered:Component, Deployment Model, Organization Size, Application, and Region
Growth Drivers:
  • Stringent regulations on cybersecurity and data privacy compliance
  • Rising concerns over securing enterprise Intellectual Property (IP) assets
  • Growing trend of Bring Your Own Devices (BYOD) among enterprises
  • Rising number of cyberattacks
  • Surging adoption of cloud platforms across SMEs
  • Rising proliferation of IoT devices across various industry verticals
Pitfalls & Challenges:
  • Lack of awareness regarding PKI solutions across enterprises
  • Resource intensive nature of PKI compared to other encryption methods
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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of public key infrastructure crossed USD 3 billion in 2022 and is set to progress at over 20% CAGR between 2023 and 2032 on account of the rising number of cyberattacks and significant initiatives to strengthen cybersecurity across the globe.

The healthcare segment is slated to hold around 20.5% of the PKI market share by 2032 owing to several technological challenges such as cybersecurity and changes in medical service demands.

The on-premise segment surpassed USD 2 billion in 2022 attributed to its ability to control and manage in-house resources and provide customized solutions as per enterprise infrastructure requirements.

The Asia Pacific public key infrastructure market is foreseen to expand at more than 25% growth rate through 2032 because of the increased frequency & sophistication of cyberattacks due to weak cyber-mitigation efforts in the region.

Public Key Infrastructure (PKI) Market Scope

  • Public Key Infrastructure (PKI) Market Size
  • Public Key Infrastructure (PKI) Market Analysis
  • Public Key Infrastructure (PKI) Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 20
    • Tables & Figures: 428
    • Countries covered: 22
    • Pages: 200
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