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.
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.
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