Public Key Infrastructure (PKI) Market by Deployment and Geography - Forecast and Analysis 2019-2023

Global Public Key Infrastructure (PKI) Market: About this market

Technavio’s PKI market analysis considers sales from cloud and on-premise deployments. Our analysis also considers the sales of PKI in APAC, Europe, North America, South America, and MEA. In 2018, the cloud segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the cost advantage, scalability, and rising adoption of digital signature in cloud-based deployments in the government sector will play a significant role in the cloud segment to maintain its market position. Also, our PKI market report looks at factors such as stringent data protection regulations, growth of the IoT device ecosystem, and increasing adoption of digital signatures by enterprises. However, interoperability issues associated with PKI, security concerns associated with PKI, and implementation and management challenges associated with PKI may hamper the growth of the PKI industry over the forecast period.

Global Public Key Infrastructure (PKI) Market: Overview

Increasing adoption of digital signatures by enterprises

Enterprises are increasingly adopting digital signatures as it provides the benefit of improved authenticity and integrity of digital messages such as email, documents, and code distributed via the Internet. Some of the benefits of using digital signature by the enterprises for communication include authentication, integrity, and non-repudiation. Digital signatures use OKI standards to provide the highest level of security and universal acceptance. This demand for digital signatures by enterprises will lead to the expansion of the global PKI market at a CAGR of over 17% during the forecast period.

Growing use of HSMs to strengthen PKI security

PKI vendors are increasingly using hardware security models (HSMs) to strengthen the encryption key. HSMs helps in protecting and managing encryption keys for strong authentication and provides crypto processing. HSMs mainly perform tasks such as random number generation along with asymmetric and symmetric key generation. The demand for HSMs is expected to accelerate as businesses are looking for more secure and advanced security solutions that are compatible with their future business requirements. These benefits will boost the demand for PKI security, which in turn, will have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global public key infrastructure (PKI) market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of a few major players, the global public key infrastructure (PKI) market is moderately concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading PKI manufacturers, that include  CETIS d.d., DigiCert Inc., eMudhra Ltd., Entrust Datacard Corp., GMO GlobalSign Ltd., Nexus Secured Business Solutions AB, Sectigo Ltd., Thales Group, Unisys Corp., and WISeKey International Holding Ltd.

Also, the PKI market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Product offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global information technology (IT) security market
      • Table Segments of global information technology (IT) security market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by deployment
    • Table Deployment - Market share 2018-2023 (%)
    • Comparison by deployment
      • Table Comparison by deployment
    • Cloud - Market size and forecast 2018-2023
      • Table Cloud - Market size and forecast 2018-2023 ($ millions)
      • Table Cloud - Year-over-year growth 2019-2023 (%)
    • On-premise - Market size and forecast 2018-2023
      • Table On-premise - Market size and forecast 2018-2023 ($ millions)
      • Table On-premise - Year-over-year growth 2019-2023 (%)
    • Market opportunity by deployment
      • Table Market opportunity by deployment
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Growing use of HSMs to strengthen PKI security
    • Rising number of partnerships among market participants
    • Increasing M&A activities
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • CETIS d.d.
      • Table CETIS d.d. - Vendor overview
      • Table CETIS d.d. - Product segments
      • Table CETIS d.d. - Organizational developments
      • Table CETIS d.d. - Key offerings
    • DigiCert Inc.
      • Table DigiCert Inc. - Vendor overview
      • Table DigiCert Inc. - Product segments
      • Table DigiCert Inc. - Organizational developments
      • Table DigiCert Inc. - Key offerings
    • eMudhra Ltd.
      • Table eMudhra Ltd. - Vendor overview
      • Table eMudhra Ltd. - Product segments
      • Table eMudhra Ltd. - Organizational developments
      • Table eMudhra Ltd. - Key offerings
    • Entrust Datacard Corp.
      • Table Entrust Datacard Corp. - Vendor overview
      • Table Entrust Datacard Corp. - Product segments
      • Table Entrust Datacard Corp. - Organizational developments
      • Table Entrust Datacard Corp. - Key offerings
    • GMO GlobalSign Ltd.
      • Table GMO GlobalSign Ltd. - Vendor overview
      • Table GMO GlobalSign Ltd. - Product segments
      • Table GMO GlobalSign Ltd. - Organizational developments
      • Table GMO GlobalSign Ltd. - Key offerings
    • Nexus Secured Business Solutions AB
      • Table Nexus Secured Business Solutions AB - Vendor overview
      • Table Nexus Secured Business Solutions AB - Product segments
      • Table Nexus Secured Business Solutions AB - Organizational developments
      • Table Nexus Secured Business Solutions AB - Key offerings
    • Sectigo Ltd.
      • Table Sectigo Ltd. - Vendor overview
      • Table Sectigo Ltd. - Product segments
      • Table Sectigo Ltd. - Organizational developments
      • Table Sectigo Ltd. - Key offerings
    • Thales Group
      • Table Thales Group - Vendor overview
      • Table Thales Group - Business segments
      • Table Thales Group - Organizational developments
      • Table Thales Group - Geographic focus
      • Table Thales Group - Segment focus
      • Table Thales Group - Key offerings
    • Unisys Corp.
      • Table Unisys Corp. - Vendor overview
      • Table Unisys Corp. - Business segments
      • Table Unisys Corp. - Organizational developments
      • Table Unisys Corp. - Geographic focus
      • Table Unisys Corp. - Segment focus
      • Table Unisys Corp. - Key offerings
    • WISeKey International Holding Ltd.
      • Table WISeKey International Holding Ltd. - Vendor overview
      • Table WISeKey International Holding Ltd. - Business segments
      • Table WISeKey International Holding Ltd. - Organizational developments
      • Table WISeKey International Holding Ltd. - Geographic focus
      • Table WISeKey International Holding Ltd. - Segment focus
      • Table WISeKey International Holding Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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