The global public key infrastructure (PKI) market is expected to post a CAGR of over 17% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global public key infrastructure market 2019-2023. (Graphic: Business Wire)
Enterprisers 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. Thus, the rise in the use of digital signatures will drive the growth of the PKI market.
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As per Technavio, the growing use of HSMs to strengthen PKI security will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Public Key Infrastructure (PKI) Market: 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. It protects and hides both private keys, i.e. the private key used for signing and decryption and the private key used in the PKI for storing Root keys. 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. Thus, the increasing use of HSMs will drive the growth of the market.
“Apart from the growing use of HSMs to strengthen PKI security, other factors such as the rising number of partnerships among market participants and increasing M&A activities will have a significant impact on the growth of the public key infrastructure (PKI) market during the forecast period,” says a senior analyst at Technavio.
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Public Key Infrastructure (PKI) Market: Segmentation Analysis
This market research report segments the global public key infrastructure (PKI) market by deployment (cloud and on-premise) and by region (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market, driven by the high adoption of cloud technology in the US and Canada.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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